Share-Based Compensation Plans (Tables)

9 Months Ended

Sep. 30, 2020

Share-based Payment Arrangement [Abstract]

Amounts of Share-Based Compensation Cost Recorded in Consolidated Statement of Income

The following table provides the amounts of share-based compensation cost recorded in the Condensed Consolidated Statement of Income:

	Three Months Ended September 30,				Nine Months Ended September 30,
($ in millions)	2020		2019		2020		2019
Pretax share-based compensation expense	$	126	$	101	$	354	$	306
Income tax benefit	(17)		(14)		(48)		(42)
Total share-based compensation expense, net of taxes	$	109	$	87	$	306	$	264

Assumptions Used to Determine Weighted-Average Fair Value of Options Granted

During the first nine months of 2020, the Company granted 4 million stock options with a weighted-average exercise price of $77.67 per option and during the first nine months of 2019 granted 3 million stock options with a weighted-average exercise price of $80.05 per option. The weighted-average fair value of options granted during the first nine months of 2020 and 2019 was $9.93 and $10.63 per option, respectively, and was determined using the following assumptions:

	Nine Months Ended September 30,
	2020		2019
Expected dividend yield	3.1	%	3.2	%
Risk-free interest rate	0.4	%	2.4	%
Expected volatility	22.1	%	18.7	%
Expected life (years)	5.8		5.9