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Employee Benefits (Tables)
 12 Months Ended
Dec. 31, 2019
Share-based Payment Arrangement, Noncash Expense [Abstract]  
Schedule of Share-based Compensation, Stock Options, Activity
The following table summarizes activity and related information under our stock option plans. All option grants presented in the table had exercise prices not less than the fair value of the underlying common stock on the grant date:
 
 
Shares
(in millions)
 
Weighted-
Average
Exercise Price
(in dollars)
 
Weighted-Average
Remaining
Contractual Term
(years)
 
Aggregate
 Intrinsic
Value
(in millions)
Outstanding at December 31, 2018
 
23.5

 
$
53.80

 
 
 
 
Granted
 
2.8

 
$
65.87

 
 
 
 
Forfeited
 
(1.5
)
 
$
69.70

 
 
 
 
Expired
 
(0.4
)
 
$
75.64

 
 
 
 
Exercised
 
(4.9
)
 
$
24.06

 
 
 
 
Outstanding at December 31, 2019
 
19.5

 
$
61.35

 
5.11
 
$
238

Exercisable at December 31, 2019
 
14.3

 
$
58.74

 
4.03
 
$
224

Expected to vest, net of estimated forfeitures at December 31, 2019
 
4.9

 
$
68.51

 
8.08
 
$
13
Share-based Compensation, Restricted Stock and Performance Shares Award Outstanding Activity
The following table summarizes our RSU and PSU activity and related information (in millions, except per share amounts):
 
 
RSUs
 
PSUs
 
 
Shares
 
Weighted-
Average
Grant Date Fair Value Per Share
 
Shares (1)
 
Weighted-
Average
Grant Date Fair Value Per Share(1)
Outstanding at December 31, 2018
 
14.9

 
$
77.72

 
0.8

 
$
82.42

Granted
 
9.6

 
$
64.31

 
0.5

 
$
68.30

Vested
 
(5.3
)
 
$
79.98

 
(0.3
)
 
$
77.37

Forfeited
 
(2.0
)
 
$
72.89

 
(0.3
)
 
$
69.25

Outstanding at December 31, 2019
 
17.2

 
$
70.08

 
0.7

 
$
80.42

_________________________________________
 
 
 
 
 
 
 
 
(1)
Weighted-average grant-date fair value per share excludes shares related to grants that currently have no grant date as the performance objectives have not yet been defined.
Schedule of Stock-Based Compensation Expenses Included in Consolidated Statement of Income
The following table summarizes total stock-based compensation expenses included on our Consolidated Statements of Income (in millions):
 
 
Year Ended December 31,
 
 
2019
 
2018
 
2017
Cost of goods sold
 
$
48

 
$
61

 
$
24

Research and development expenses
 
289

 
379

 
232

Selling, general and administrative expenses
 
299

 
405

 
393

Stock-based compensation expense included in total costs and expenses
 
636

 
845

 
649

Income tax effect(1)
 
2

 
(164
)
 
(280
)
Stock-based compensation expense, net of tax
 
$
638

 
$
681

 
$
369

_______________________
 
 
 
 
 
 
Schedule Of Assumptions To Calculate The Estimated Fair Value Of Awards We used the following assumptions to calculate the estimated fair value of the awards:
 
 
Year Ended December 31,
 
 
2019
 
2018
 
2017
Expected volatility:
 
 
 
 
 
 
Stock options
 
27
%
 
28
%
 
28
%
ESPP
 
27
%
 
28
%
 
28
%
Expected term in years:
 
 

 
 

 
 

Stock options
 
5.5

 
5.2

 
4.6

ESPP
 
0.5

 
0.5

 
0.5

Risk-free interest rate:
 
 

 
 

 
 

Stock options
 
2.3
%
 
2.5
%
 
2.1
%
ESPP
 
1.8
%
 
2.6
%
 
1.8
%
Expected dividend yield
 
3.6
%
 
2.8
%
 
2.7
%