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Stock Based Compensation Plans
 12 Months Ended
Dec. 31, 2020
Share-based Payment Arrangement, Noncash Expense [Abstract]  
Stock Based Compensation Plans STOCK BASED COMPENSATION PLANS
We have long-term incentive award plans (Incentive Plans) that provide for the granting of incentive stock options, nonqualified stock options, stock appreciation rights, incentive shares/performance units, restricted share units, other share-based awards and dollar-denominated awards to executives and, other than incentive stock options, to non-employee directors. Certain Incentive Plan awards may be paid in stock, cash or a combination of stock and cash. We typically grant a substantial portion of our stock-based compensation awards during the first quarter of each year.

Incentive/Performance Share Unit Awards and Restricted Share Unit Awards

The fair value of nonvested incentive/performance share unit awards and restricted share unit awards is initially determined based on prices not less than the market value of our common stock on the date of grant with a reduction for estimated forfeitures. The value of certain incentive/performance unit awards is subsequently remeasured based on the achievement of one or more financial and other performance goals. Additionally, certain incentive/performance unit awards could require subsequent adjustment due to certain discretionary risk review triggers.
The weighted-average grant date fair value of incentive/performance share unit awards and restricted share unit awards granted in 2020, 2019 and 2018 was $150.23, $117.53 and $149.38 per share, respectively. The total intrinsic value of incentive/performance share unit awards and restricted share unit awards vested during 2020, 2019 and 2018 was approximately $213 million, $218 million and $254 million, respectively. We recognize compensation expense for such awards ratably over the corresponding vesting and/or performance periods for each type of program.
A rollforward of the nonvested incentive/performance share unit and restricted share unit awards follows:
Table 102: Nonvested Incentive/Performance Share Unit Awards and Restricted Share Unit Awards - Rollforward
Shares in thousandsNonvested Incentive/Performance Units SharesWeighted-Average Grant Date Fair ValueNonvested Restricted Share UnitsWeighted-Average Grant Date Fair Value
December 31, 2019844 $116.00 3,305 $128.29 
Granted (a)183 $147.60 1,268 $150.61 
Vested/Released (a)(363)$106.17 (1,053)$123.58 
Forfeitures (63)$138.41 
December 31, 2020664 $130.08 3,457 $137.73 
(a)Includes adjustments for achieving specific performance goals for Incentive/Performance Unit Share Awards granted in prior periods.
In Table 102, the units and related weighted-average grant date fair value of the incentive/performance unit share awards exclude the effect of dividends on the underlying shares, as those dividends will be paid in cash if and when the underlying shares are issued to the participants.