Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Share-based Compensation, Stock Options, Activity

($ in millions)	2021	2020	2019
Total stock-based compensation	$57	$44	$39
Income tax benefit recognized	$12	$10	$9

Weighted Average Assumptions Used in Calculating the Fair Value of Stock Option

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

	2021		2020		2019
Weighted average exercise price	$136.60		$119.52		$109.74
Risk free interest rate	1.0	%	1.6	%	2.6	%
Expected life of option in years	6.5		6.5		6.5
Expected dividend yield	1.6	%	1.5	%	1.6	%
Expected volatility	25.3	%	20.0	%	20.0	%

Stock Options Outstanding, Exercisable and Activity

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, 2021	3,371,282	$104.18	6.2	$135
Granted	527,464	$136.60
Exercised	(510,864)	$91.77
Forfeited/Expired	(47,480)	$120.01
Outstanding, December 31, 2021	3,340,402	$110.98	6.1	$205
Vested or expected to vest, December 31, 2021	3,245,875	$110.45	6.0	$201
Exercisable, December 31, 2021	1,687,933	$100.46	4.1	$121

Stock Option Activity

The following table presents stock option activity for the years ended December 31, 2021, 2020 and 2019:

($ in millions)	2021	2020	2019
Total intrinsic value of stock options exercised	$32	$31	$38
Cash received from stock option exercises	$47	$54	$61
Income tax benefit from the exercise of stock options	$8	$7	$9
Total fair value of stock options vested	$11	$11	$12

RSU Activity

RSU Activity	Number of Shares	Weighted Average Fair Value	Intrinsic Value (in millions)
Outstanding, January 1, 2021	591,929	$113.74	$67
Granted	263,911	$120.89
Released from restrictions	(215,208)	$142.21
Forfeited	(18,577)	$122.32
Outstanding, December 31, 2021	622,055	$125.92	$78
Vested or expected to vest, December 31, 2021	592,068	$125.60	$73