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Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2020
Share-based Payment Arrangement [Abstract]  
Schedule of Number of Common Shares Reserved for Issuance
The number of common shares reserved for issuance are as follows: 
(in millions)December 31,
20202019
Shares available for granting 1
19.720.0
Options outstanding0.50.7
Total shares reserved for issuance 2
20.220.7
1     Shares available for granting at December 31, 2020 and 2019 are under the 2019 Plan.
2     Shares reserved for issuance under the Director Deferred Stock Ownership Plan are not included in the total, but are less than 1.0 million at December 31, 2020 and 2019, respectively.
Schedule of Stock-based Compensation Expense
Stock-based compensation expense and the corresponding tax benefit are as follows: 
(in millions)Year Ended December 31,
 202020192018
Stock option expense$— $1 $5 
Restricted stock and unit awards expense 90 77 89 
Total stock-based compensation expense$90 $78 $94 
Tax benefit$15 $13 $19 
Schedule of Assumptions Used in Valuing the Options Granted We use a lattice-based option-pricing model to estimate the fair value of options granted. The following assumptions were used in valuing the options granted:
 Year Ended
 December 31, 2018
Risk-free average interest rate
2.6 - 2.7%
Dividend yield
1.1%
Volatility
21.8 - 22.0%
Expected life (years)
5.67 - 6.07
Weighted-average grant-date fair value per option
$112.98
We use a lattice-based option-pricing model to estimate the fair value of options granted. The following assumptions were used in valuing the options granted: 
Year Ended
 December 31, 2018
Risk-free average interest rate
2.6 - 2.7%
Dividend yield
1.1%
Volatility
21.8 - 22.0%
Expected life (years)
5.67 - 6.07
Weighted-average grant-date fair value per option
$112.98
Schedule of Stock Option Activity
Stock option activity is as follows: 
(in millions, except per award amounts)SharesWeighted average exercise priceWeighted-average remaining years of contractual termAggregate intrinsic value
Options outstanding as of December 31, 2019
0.7 $55.73 
Exercised(0.2)$280.79 
Forfeited and expired 1
— $58.06 
Options outstanding as of December 31, 2020
0.5 $60.46 2.56$123 
Options exercisable as of December 31, 2020
0.5 $60.34 2.53$122 
1 There are less than 0.1 million shares forfeited and expired.

(in millions, except per award amounts)SharesWeighted-average grant-date fair value
Nonvested options outstanding as of December 31, 2019
— $112.68 
Vested 1
— $113.14 
Forfeited— $113.40 
Nonvested options outstanding as of December 31, 2020 2
— $111.96 
Total unrecognized compensation expense related to nonvested options$— 
Weighted-average years to be recognized over0.2
1There are less than 0.1 million shares vested.
2There are less than 0.1 million nonvested options outstanding as of December 31, 2020.
Schedule of Stock Option Exercises
Information regarding our stock option exercises is as follows: 
(in millions)Year Ended December 31,
 202020192018
Net cash proceeds from the exercise of stock options$16 $40 $34 
Total intrinsic value of stock option exercises$60 $110 $77 
Income tax benefit realized from stock option exercises$13 $33 $27 
Schedule of Restricted Stock and Unit Activity
Restricted stock and unit activity for performance and non-performance awards is as follows: 
(in millions, except per award amounts)SharesWeighted-average grant-date fair value
Nonvested shares as of December 31, 2019
0.6 $199.93 
Granted 0.4 $232.92 
Vested(0.4)$192.71 
Forfeited— $220.76 
Nonvested shares as of December 31, 2020
0.6 $227.67 
Total unrecognized compensation expense related to nonvested awards$85 
Weighted-average years to be recognized over1.8

 Year Ended December 31,
 202020192018
Weighted-average grant-date fair value per award$232.92 $187.40 $182.75 
Total fair value of restricted stock and unit awards vested$134 $153 $154 
Tax benefit relating to restricted stock activity$26 $29 $29