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Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2019



($ in millions)	2019		2018		2017
Total stock-based compensation		$39		$37		$35
Income tax benefit recognized		$9		$8		$12

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



	2019			2018			2017
Weighted average exercise price		$109.74			$115.98			$101.53
Risk free interest rate	2.6		%	2.9		%	2.4		%
Expected life of option in years	6.5			6.5			6.5
Expected dividend yield	1.6		%	1.7		%	1.8		%
Expected volatility	20.0		%	21.0		%	22.0		%



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, 2019	3,761,000			$90.10	6.1		$61
Granted	588,870			$109.74
Exercised	(832,177	)		$73.78
Forfeited/Expired	(107,940	)		$107.41
Outstanding, December 31, 2019	3,409,753			$96.93	6.1		$125
Vested or expected to vest, December 31, 2019	3,312,698			$96.54	6.1		$122
Exercisable, December 31, 2019	1,819,591			$86.67	4.4		$85

The following table presents stock option activity for the years ended December 31, 2019, 2018 and 2017:



($ in millions)	2019		2018		2017
Total intrinsic value of stock options exercised		$38		$19		$40
Cash received from stock option exercises		$61		$15		$52
Income tax benefit from the exercise of stock options		$9		$4		$15
Total fair value of stock options vested		$12		$10		$13



RSU Activity	Number of Shares		Weighted Average Fair Value		Intrinsic Value (in millions)
Outstanding, January 1, 2019	631,731			$102.80		$65
Granted	241,113			$111.25
Released from restrictions	(229,238	)		$100.98
Forfeited	(32,064	)		$109.34
Outstanding, December 31, 2019	611,542			$109.30		$67
Vested or expected to vest, December 31, 2019	580,878			$109.17		$63