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STOCK-BASED COMPENSATION PLANS (Tables)
 12 Months Ended
Dec. 31, 2019
Share-based Payment Arrangement [Abstract]  
Income Statement Impact from Stock Options
 
Years Ended December 31,
2019
 
2018
 
2017
Compensation expense
$
47

 
$
64

 
$
79

Future income tax benefit recognized
10

 
13

 
17
Share based compensation fair value assumptions
 
Years Ended December 31,
2019
 
2018
 
2017
Weighted average fair value per share of options granted during the year(1)
$
21.57

 
$
23.63

 
$
16.68

Assumptions:
 
 
 
 
 
Expected annual dividend yield
2.65
%
 
2.49
%
 
2.81
%
Expected volatility
18.40
%
 
18.93
%
 
18.96
%
Risk-free rate of return
2.46
%
 
2.71
%
 
2.02
%
Expected option term (years)
4.87

 
4.95

 
5.04

(1)
Estimated on date of grant using Black-Scholes option-pricing model.
Stock Options Activity
 
Number of
Options
 
Weighted
Average
Exercise
Price
Outstanding at December 31, 2016
28,667,300

 
$
79.57

Granted
5,098,569

 
125.16

Exercised
(8,840,019
)
 
62.34

Lapsed or canceled
(1,516,557
)
 
109.04

Outstanding at December 31, 2017
23,409,293

 
94.16

Spin related adjustment(1)
989,158

 
 
Granted
3,303,722

 
148.48

Exercised
(3,399,375
)
 
78.29

Lapsed or canceled
(1,824,217
)
 
123.01

Outstanding at December 31, 2018
22,478,581

 
97.83

Granted
3,136,058

 
155.43

Exercised
(5,897,060
)
 
84.31

Lapsed or canceled
(986,017
)
 
136.15

Outstanding at December 31, 2019
18,731,562

 
$
109.87

Vested and expected to vest at December 31, 2019(2)
17,636,444

 
$
107.39

Exercisable at December 31, 2019
11,620,992

 
$
92.19

(1)
Additional options granted to offset the dilutive impact of the spin-offs on outstanding options.
(2)
Represents the sum of vested options of 11.6 million and expected to vest options of 6.0 million. Expected to vest options are derived by applying the pre-vesting forfeiture rate assumption to total outstanding unvested options of 7.1 million.
Schedule of share based compensation by price ranges
Range of Exercise Prices
Options Outstanding
 
Options Exercisable
Number
Outstanding
 
Weighted
Average Life(1)
 
Weighted
Average
Exercise
Price
 
Aggregate
Intrinsic
Value
 
Number
Exercisable
 
Weighted
Average
Exercise
Price
 
Aggregate
Intrinsic
Value
$27.00–$64.99
1,621,042

 
1.87
 
$
55.38

 
$
197

 
1,621,042

 
$
55.38

 
$
197

$65.00–$89.99
3,388,800

 
3.74
 
79.79

 
329

 
3,388,800

 
79.79

 
329

$90.00–$99.99
5,266,409

 
5.70
 
98.80

 
412

 
4,461,659

 
98.81

 
349

$100.00–$134.99
3,344,472

 
7.11
 
119.07

 
194

 
1,636,518

 
118.65

 
95

$135.00–$180.99
5,110,839

 
8.76
 
152.49

 
125

 
512,973

 
148.52

 
15

 
18,731,562

 
6.10
 
$
109.87

 
$
1,257

 
11,620,992

 
$
92.19

 
$
985

(1)
Average remaining contractual life in years.
Financial Statement Impact From Stock Options Exercised
Options Exercised
Years Ended December 31,
2019
 
2018
 
2017
Intrinsic value(1)
$
483

 
$
238

 
$
620

Tax benefit realized
117

 
47

 
221

(1)
Represents the amount by which the stock price exceeded the exercise price of the options on the date of exercise.
Restricted stock units activity ended December 31, 2019:
 
Number of
Restricted
Stock Units
 
Weighted
Average
Grant Date
Fair Value
Per Share
Non-vested at December 31, 2016
4,467,343

 
$
94.17

Granted
1,274,791

 
129.71

Vested
(1,289,892
)
 
81.37

Forfeited
(505,415
)
 
103.06

Non-vested at December 31, 2017
3,946,827

 
108.60

Spin related adjustment(1)
154,346

 
 
Granted
1,360,338

 
153.46

Vested
(988,787
)
 
91.68

Forfeited
(814,851
)
 
117.40

Non-vested at December 31, 2018
3,657,873

 
125.35

Granted
1,200,202

 
162.43

Vested
(1,160,333
)
 
104.32

Forfeited
(457,677
)
 
134.50

Non-vested at December 31, 2019
3,240,065

 
$
143.07

(1)
Additional RSU grants to offset the dilutive impact of the spin-offs on non-ve
Income Statement Impact from RSUs
The following table summarizes the impact to the Consolidated Statement of Operations from RSUs:
 
Years Ended December 31,
2019
 
2018
 
2017
Compensation expense
$
106

 
$
111

 
$
97

Future income tax benefit recognized
21

 
21

 
19