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Employee Incentive Plans (Tables)
12 Months Ended
Dec. 31, 2019
Employee Incentive Plan Aggregate Disclosures [Line Items]  
Compensation cost

(In millions)

2019

2018

2017

Total compensation cost for shared-based awards

$

299

$

180

$

178

Tax benefits recognized

$

59

$

36

$

79

Information for stock options exercised

 

 

Options

 

Options

 

 

Outstanding

 

Exercisable

Number (in thousands)

 

11,438

 

8,874

Total intrinsic value (in millions)

$

781

$

715

Weighted average exercise price

$

136.19

$

123.87

Weighted average remaining contractual life

 

5.6 years

 

4.7 years

Black-Scholes option-pricing model assumptions

 

 

2019

 

2018

 

2017

Dividend yield

 

0.0%

 

0.0%

 

0.0%

Expected volatility

 

30.0%

 

35.0%

 

35.0%

Risk-free interest rate

 

2.5%

 

2.5%

 

1.8%

Expected option life

 

4.4 years

 

4.4 years

 

4.3 years

Weighted average fair value of options

$

53.10

$

64.18

$

46.38

Status of, and changes in, common stock options

(Options in thousands)

2019

2018

2017

 

 

 

Weighted

 

 

Weighted

 

 

Weighted

 

 

 

Average

 

 

Average

 

 

Average

 

Options

Exercise Price

Options

Exercise Price

Options

Exercise Price

Outstanding - January 1

 

12,370

$

125.46

 

6,156

$

100.79

 

7,097

$

82.01

Granted

 

1,569

$

183.41

 

7,080

$

143.62

 

1,230

$

149.17

Exercised

 

(2,297)

$

106.75

 

(771)

$

88.35

 

(2,072)

$

63.41

Expired or canceled

 

(204)

$

180.08

 

(95)

$

165.04

 

(99)

$

138.41

Outstanding - December 31

 

11,438

$

136.19

 

12,370

$

125.46

 

6,156

$

100.79

Options exercisable at year-end

 

8,874

$

123.87

 

9,446

$

114.22

 

3,894

$

77.36

Status of, and changes in, restricted stock grants and units

(Awards in thousands)

2019

2018

2017

 

 

Weighted Average Fair Value at Award Date

 

Weighted Average Fair Value at Award Date

 

Weighted Average Fair Value at Award Date

 

 

 

 

 

Grants/Units

Grants/Units

Grants/Units

Outstanding - January 1

2,138

$

168.12

1,295

$

126.44

1,309

$

97.78

Awarded

870

$

183.86

1,451

$

183.29

451

$

155.21

Vested

(964)

$

160.74

(560)

$

112.53

(409)

$

67.09

Forfeited

(99)

$

168.68

(48)

$

150.84

(56)

$

121.74

Outstanding - December 31

1,945

$

178.78

2,138

$

168.12

1,295

$

126.44

Status of, and changes in, strategic performance shares

 

2019

 

2018

 

2017

 

 

Weighted

 

 

Weighted

 

 

Weighted

 

 

Average Fair Value

 

 

Average Fair Value

 

 

Average Fair Value

(Awards in thousands)

Shares

at Award Date

 

Shares

at Award Date

 

Shares

at Award Date

Outstanding - January 1

707

$

160.74

 

778

$

136.57

 

942

$

109.14

Awarded

389

$

184.72

 

221

$

197.51

 

275

$

150.06

Vested

(244)

$

139.27

 

(269)

$

121.57

 

(386)

$

78.91

Forfeited

(34)

$

178.98

 

(23)

$

158.16

 

(53)

$

138.19

Outstanding - December 31

818

$

177.94

 

707

$

160.74

 

778

$

136.57

Employee Stock Option [Member]  
Employee Incentive Plan Aggregate Disclosures [Line Items]  
Information for stock options exercised

(In millions)

2019

2018

2017

Intrinsic value of options exercised

$

180

$

86

$

218

Cash received for options exercised

$

224

$

68

$

131

Tax benefit from options exercised

$

34

$

8

$

41

Shares available for award / Fair value of vested shares

(In millions)

2019

2018

2017

Common shares available for award

 

23.2

 

25.7

 

14.0

Restricted Stock Grants And Units [Member]  
Employee Incentive Plan Aggregate Disclosures [Line Items]  
Shares available for award / Fair value of vested shares

(In millions)

2019

2018

2017

Fair value of vested restricted stock

$

171

$

107

$

62

Performance Shares [Member]  
Employee Incentive Plan Aggregate Disclosures [Line Items]  
Shares available for award / Fair value of vested shares

 

2019

2018

2017

(Shares in thousands; $ in millions)

Shares

Fair Value

Shares

Fair Value

Shares

Fair Value

Shares of Cigna common stock distributed upon SPS vesting

 

254

$

45

 

380

$

73

 

476

$

70