EMPLOYEE BENEFIT PLANS (Tables)

12 Months Ended

Dec. 31, 2020

Retirement Benefits [Abstract]

Schedule of Compensation Expense

The compensation expense that has been charged against income for these plans was as follows for the years ended December 31, 2020, 2019, and 2018:

	2020		2019		2018
	(in millions)
Stock-based compensation expense by type:
Restricted stock	$	171	$	152	$	124
Stock options	10		11		13
Total stock-based compensation expense	181		163		137
Tax benefit recognized	(29)		(35)		(21)
Stock-based compensation expense, net of tax	$	152	$	128	$	116

Schedule of Restricted Stock Awards Activity

Activity for our restricted stock was as follows for the year ended December 31, 2020:

	Shares	Weighted- Average Grant-Date Fair Value
	(shares in thousands)
Nonvested restricted stock at December 31, 2019	976	$	245.21
Granted	471	354.66
Vested	(486)	274.80
Forfeited	(50)	303.74
Nonvested restricted stock at December 31, 2020	911	$	282.81

Schedule of Weighted-Average Fair Value Assumptions

The fair value was estimated on the date of grant using the Black-Scholes pricing model with the weighted-average assumptions indicated below:

	2020			2019			2018
Weighted-average fair value at grant date	$	69.73		$	68.53		$	63.67
Expected option life (years)	4.0 years			4.1 years			4.1 years
Expected volatility	24.9		%	25.5		%	26.1		%
Risk-free interest rate at grant date	1.2		%	2.4		%	2.5		%
Dividend yield	0.7		%	0.7		%	0.7		%

Schedule of Activity for Option Plans

Activity for our option plans was as follows for the year ended December 31, 2020:

	Shares  Under Option	Weighted-Average Exercise Price
	(shares in thousands)
Options outstanding at December 31, 2019	493	$	250.46
Granted	111	350.79
Exercised	(276)	221.15
Forfeited	(5)	307.96
Options outstanding at December 31, 2020	323	$	309.04
Options exercisable at December 31, 2020	100	$	277.51