Stock-Based Incentive Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2018

Stock-Based Incentive Compensation Plans [Abstract]

Compensation Expense By Award Type

	For the Years Ended December 31,
	2018			2017		2016
Stock options	$	5		$	10	$	9
Performance shares		15			13		11
SARs		(1	)		2		3
RSUs		32			25		23
Total	$	51		$	50	$	46
Recognized tax benefit	$	11		$	18	$	16

Total unrecognized compensation expense for all stock-based incentive compensation plans

	For the Years Ended December 31,
	2018			2017			2016
			Weighted-			Weighted-			Weighted-
			Average			Average			Average
	Expense		Period	Expense		Period	Expense		Period
Stock options	$	9	1.1	$	9	1.4	$	8	1.4
Performance shares		14	0.9		12	1.2		12	1.4
SARs		-	2.7		2	3.2		2	3.6
RSUs		50	1.2		32	1.1		25	1.2
Total unrecognized stock-based
incentive compensation expense	$	73		$	55		$	47

Option price assumptions used for stock option incentive plans

	For the Years Ended December 31,
	2018		2017		2016
Weighted-average fair value per option granted	$	18.74	$	18.27	$	9.32
Assumptions:
Dividend yield		2.1%		2.0%		2.8%
Expected volatility		27.2%		31.5%		35.9%
Risk-free interest rate		2.5-2.9%		1.7-2.1%		1.0-1.6%
Expected life (in years)		5.8		5.5		5.7

Summary of activity for stock options with performance conditions

						Weighted-
			Weighted-			Average
			Average		Remaining		Aggregate
			Exercise		Contractual		Intrinsic
	Shares		Price			Term	Value
Outstanding as of December 31, 2017	271,724		$	54.37
Granted – original	32,400			78.41
Exercised (includes shares tendered)	(55,594	)		47.13
Forfeited or expired	(19,694	)		55.45
Outstanding as of December 31, 2018	228,836		$	59.43		2.27	$	1
Vested or expected to vest as of December 31, 2018 (1)	214,570		$	58.54		2.18	$	1
Exercisable as of December 31, 2018	200,304		$	57.51		2.08	$	1

⁽¹⁾ Includes estimated forfeitures.

Summary of activity for stock options with service conditions

						Weighted-
			Weighted-			Average
			Average		Remaining		Aggregate
			Exercise		Contractual		Intrinsic
	Shares		Price			Term	Value
Outstanding as of December 31, 2017	2,192,139		$	46.02
Granted – original	481,404			77.81
Exercised (includes shares tendered)	(239,633	)		33.13
Forfeited or expired	(79,894	)		67.55
Outstanding as of December 31, 2018	2,354,016		$	53.11		6.83	$	17
Vested or expected to vest as of December 31, 2018 (1)	2,134,763		$	52.14		6.70	$	16
Exercisable as of December 31, 2018	1,448,275		$	44.94		5.83	$	14

⁽¹⁾ Includes estimated forfeitures.

Summary of activity for performance shares

				Weighted-
				Average
			Grant-Date
	Shares			Fair Value
Nonvested as of December 31, 2017	556,949			$	53.65
Granted	156,676				89.89
Vested	(137,308	)			68.35
Forfeited	(30,092	)			69.62
Nonvested as of December 31, 2018	546,225			$	59.46

Option price assumptions used for stock appreciation rights plan

	For the Years Ended December 31,
	2018		2017		2016
Weighted-average fair value per SAR granted	$	19.09	$	20.06	$	10.25
Assumptions:
Dividend yield		1.6%		1.5%		2.9%
Expected volatility		27.0%		34.4%		35.8%
Risk-free interest rate		2.8%		2.2%		1.4%
Expected life (in years)		5.0		5.0		5.0

Summary of activity for stock appreciation rights plan

						Weighted-
			Weighted-			Average
			Average		Remaining		Aggregate
			Exercise		Contractual		Intrinsic
	Shares		Price			Term	Value
Outstanding as of December 31, 2017	162,188		$	50.22
Granted – original	14,692			78.41
Exercised (includes shares tendered)	(39,661	)		44.55
Forfeited or expired	(7,212	)		54.82
Outstanding as of December 31, 2018	130,007		$	54.88		2.10	$	-
Vested or expected to vest as of December 31, 2018 (1)	124,916		$	54.75		2.06	$	-
Exercisable as of December 31, 2018	84,783		$	52.55		1.60	$	-

⁽¹⁾ Includes estimated forfeitures.

Summary of activity for restricted stock units

				Weighted-
				Average
			Grant-Date
	Shares			Fair Value
Outstanding as of December 31, 2017	1,494,732			$	51.83
Granted	741,967				76.11
Vested	(429,039	)			58.22
Forfeited	(114,784	)			64.16
Outstanding as of December 31, 2018	1,692,876			$	60.02