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Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2018



($ in millions)	2018		2017		2016
Total stock-based compensation		$37		$35		$45
Income tax benefit recognized		$8		$12		$17

The following weighted average assumptions were used to calculate the fair values of stock option grants in each year:



	2018			2017			2016
Weighted average exercise price		$115.98			$101.53			$95.29
Risk free interest rate	2.9		%	2.4		%	1.6		%
Expected life of option in years	6.5			6.5			6.5
Expected dividend yield	1.7		%	1.8		%	2.1		%
Expected volatility	21.0		%	22.0		%	22.8		%



Stock Options Outstanding and Exercisable	Number of Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (in years)	Intrinsic Value (in millions)
Outstanding, January 1, 2018	3,575,625			$83.34	6.4		$120
Granted	533,105			$115.98
Exercised	(288,760	)		$50.82
Forfeited/Expired	(58,970	)		$106.32
Outstanding, December 31, 2018	3,761,000			$90.10	6.1		$61
Vested or expected to vest, December 31, 2018	3,724,235			$89.89	6.1		$61
Exercisable, December 31, 2018	1,924,079			$77.79	4.3		$56

The following table presents stock option activity for the years ended December 31, 2018, 2017 and 2016:



($ in millions)	2018		2017		2016
Total intrinsic value of stock options exercised		$19		$40		$34
Cash received from stock option exercises		$15		$52		$32
Income tax benefit from the exercise of stock options		$4		$15		$12
Total fair value of stock options vested		$10		$13		$16



RSU Activity	Number of Shares		Weighted Average Fair Value		Intrinsic Value (in millions)
Outstanding, January 1, 2018	615,607			$101.73		$63
Granted	252,885			$112.98
Released from restrictions	(194,329	)		$99.80
Forfeited	(42,432	)		$106.15
Outstanding, December 31, 2018	631,731			$102.80		$65
Vested or expected to vest, December 31, 2018	616,894			$102.67		$63