Stock-Based Incentive Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2019

Stock-Based Incentive Compensation Plans [Abstract]

Compensation Expense By Award Type

	For the Years Ended December 31,
	2019		2018			2017
Stock options	$	8	$	5		$	10
Performance shares		17		15			13
SARs		-		(1	)		2
RSUs		37		32			25
Total	$	62	$	51		$	50
Recognized tax benefit	$	13	$	11		$	18

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

	For the Years Ended December 31,
	2019			2018			2017
			Weighted-			Weighted-			Weighted-
			Average			Average			Average
	Expense		Period	Expense		Period	Expense		Period
Stock options	$	9	0.9	$	9	1.1	$	9	1.4
Performance shares		15	1.3		14	0.9		12	1.2
SARs		-	3.4		-	2.7		2	3.2
RSUs		42	1.4		50	1.2		32	1.1
Total unrecognized stock-based
incentive compensation expense	$	66		$	73		$	55

Option price assumptions used for stock option incentive plans

	For the Years Ended December 31,
	2019		2018		2017
Weighted-average fair value per option granted	$	13.23	$	18.74	$	18.27
Assumptions:
Dividend yield		2.8%		2.1%		2.0%
Expected volatility		26.9%		27.2%		31.5%
Risk-free interest rate		2.1-2.5%		2.5-2.9%		1.7-2.1%
Expected life (in years)		5.8		5.8		5.5

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, 2018	2,354,016		$	53.11
Granted – original	678,882			63.01
Exercised (includes shares tendered)	(84,271	)		33.32
Forfeited or expired	(53,971	)		71.16
Outstanding as of December 31, 2019	2,894,656		$	55.67		6.61	$	25
Vested or expected to vest as of December 31, 2019 (1)	2,671,151		$	54.52		6.47	$	25
Exercisable as of December 31, 2019	1,865,223		$	48.94		5.48	$	25

⁽¹⁾Includes estimated forfeitures.

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, 2018	228,836		$	59.43
Granted – original	35,878			61.80
Exercised (includes shares tendered)	(41,898	)		50.78
Forfeited or expired	(13,712	)		65.59
Outstanding as of December 31, 2019	209,104		$	61.17		2.07	$	1
Vested or expected to vest as of December 31, 2019 (1)	198,345		$	60.89		1.96	$	1
Exercisable as of December 31, 2019	187,585		$	60.58		1.85	$	1

⁽¹⁾Includes estimated forfeitures.

Summary of activity for performance shares

				Weighted-
				Average
			Grant-Date
	Shares			Fair Value
Nonvested as of December 31, 2018	546,225			$	59.46
Granted	202,484				66.89
Vested	(258,384	)			31.22
Forfeited	(19,254	)			80.53
Nonvested as of December 31, 2019	471,071			$	77.29

Option price assumptions used for stock appreciation rights plan

	For the Years Ended December 31,
	2019		2018		2017
Weighted-average fair value per SAR granted	$	13.93	$	19.09	$	20.06
Assumptions:
Dividend yield		2.4%		1.6%		1.5%
Expected volatility		28.3%		27.0%		34.4%
Risk-free interest rate		2.5%		2.8%		2.2%
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, 2018	130,007		$	54.88
Granted – original	23,604			61.80
Exercised (includes shares tendered)	(39,863	)		48.69
Forfeited or expired	(9,317	)		60.75
Outstanding as of December 31, 2019	104,431		$	58.17		2.14	$	-
Vested or expected to vest as of December 31, 2019 (1)	102,944		$	58.20		2.12	$	-
Exercisable as of December 31, 2019	71,375		$	55.26		1.56	$	-

⁽¹⁾Includes estimated forfeitures.

Summary of activity for restricted stock units

				Weighted-
				Average
			Grant-Date
	Shares			Fair Value
Outstanding as of December 31, 2018	1,692,876			$	60.02
Granted	621,134				62.88
Vested	(680,494	)			38.40
Forfeited	(82,387	)			70.51
Outstanding as of December 31, 2019	1,551,129			$	70.09