STOCK INCENTIVE AND STOCK OPTION PLANS (Tables)

12 Months Ended

Dec. 31, 2021

The table below summarizes the employee share-based activity in the Plan:


	Options	Weighted-average Exercise Price		Weighted-average Remaining Contractual Life (in years)	Aggregate Intrinsic Value (in millions)
Balance at December 31, 2018	3,243,662	$	130.55
Granted	710,120	163.42
Exercised	(652,980)	116.76
Forfeited	(63,232)	139.86
Balance at December 31, 2019	3,237,570	140.36
Granted	632,080	142.81
Exercised	(660,786)	131.25
Forfeited	(33,334)	150.83
Balance at December 31, 2020	3,175,530	142.63
Granted	16,550	232.44
Exercised	(400,154)	138.93
Forfeited	(48,828)	153.72
Balance at December 31, 2021	2,743,098	$	143.51	5.8	$	205

Exercisable, December 31, 2019	1,665,710	$	123.55	4.8	$	92
Exercisable, December 31, 2020	1,589,015	$	130.28	4.6	$	151
Exercisable, December 31, 2021	1,629,588	$	136.74	4.4	$	133

The weighted-average grant date fair value of performance and restricted shares was as follows:

The fair value of each option grant was estimated on the grant date using the Black-Scholes option pricing model with the following assumptions: