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Stock Incentive and Purchase Plans (Tables)
 12 Months Ended
Dec. 31, 2020
Free Cash Flow Performance-based DSU Awards, Fair Value Assumptions [Line Items]  
Free Cash Flow Performance-based DSU Awards, Fair Value Assumptions [Table Text Block]
The following table presents our assumptions used in determining the fair value of our AFCF awards currently expected to vest as of December 31, 2020:
2020 AFCF2019 AFCF2018 AFCF
Fair value, net of forfeitures to date (in millions)
$6 $8 $11 
Achievement of target payout89 %90 %118 %
Year-end stock price used in determining fair value$35.95 $45.22 $35.34 
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]
The following presents the impact of stock-based compensation on our consolidated statements of operations:
 Year Ended December 31,
(in millions, except per share data)202020192018
Cost of products sold$9 $8 $7 
Selling, general and administrative expenses130 120 109 
Research and development expenses30 28 24 
 170 157 140 
Income tax (benefit) expense(28)(24)(21)
 $142 $133 $119 
Net impact per common share - basic$0.10 $0.10 $0.09 
Net impact per common share - assuming dilution$0.10 $0.09 $0.08 
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]
We use the Black-Scholes option-pricing model to calculate the grant-date fair value of stock options granted to employees under our stock incentive plans. We calculated the fair value for options granted using the following estimated weighted-average assumptions:
 Year Ended December 31,
 202020192018
Options granted (in thousands)
3,819 2,992 3,491 
Weighted-average exercise price$41.79 $40.20 $27.26 
Weighted-average grant-date fair value$10.44 $11.76 $8.55 
Black-Scholes Assumptions   
Expected volatility23 %24 %26 %
Expected term (in years, weighted)
5.86.16.0
Risk-free interest rate0.27%-1.72%1.38%-2.61%2.61%-3.01%
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block] Information related to non-vested stock awards is as follows:
Non-Vested
Stock Award Units
(in thousands)
Weighted Average
Grant-Date
Fair Value
Balance as of December 31, 201715,250 $18 
Granted4,375 28 
Vested(1)
(6,194)16 
Forfeited(748)22 
Balance as of December 31, 201812,683 $22 
Granted3,656 39 
Vested(1)
(4,811)20 
Forfeited(449)27 
Balance as of December 31, 201911,079 $29 
Granted3,609 41 
Vested(1)
(4,147)25 
Forfeited(554)34 
Balance as of December 31, 20209,987 $34 
(1)The number of shares vested includes shares withheld on behalf of employees to satisfy statutory tax withholding requirements.
Schedule of Share-based Compensation, Employee Stock Purchase Plan, Activity [Table Text Block]
Information related to shares issued or to be issued in connection with the employee stock purchase plan based on employee contributions and the range of purchase prices is as follows:
Year Ended December 31,
202020192018
Shares issued or to be issued (in thousands)
1,387 2,196 2,452 
Range of purchase prices$29.84 $29.29-$36.47$21.49-$27.91
Expense recognized (in millions)
$10 $19 $17 
Schedule of Unrecognized Compensation Cost, Nonvested Awards [Table Text Block]
We expect to recognize the following future expense for awards outstanding as of December 31, 2020:
 Unrecognized
 Compensation Cost
(in millions) (1)
Weighted Average Remaining
Vesting Period
(in years)
Stock options$35  
Non-vested stock awards169  
 $204 1.7
(1)Amounts presented represent compensation cost, net of estimated forfeitures.
Market-based awards, valuation assumptions [Table Text Block]
We determined the fair value of the market-based DSU awards to be approximately $8 million for 2020, $10 million for 2019 and $7 million for 2018. We determined these fair values based on Monte Carlo simulations as of the date of grant, utilizing the following assumptions:
 202020192018
AwardsAwardsAwards
Stock price on date of grant$42.16 $40.12 $27.09 
Measurement period (in years)
2.92.92.9
Risk-free rate1.37 %2.48 %2.36 %
Share-based Compensation, Stock Options, Activity [Table Text Block]
Information related to stock options under stock incentive plans are as follows:
Stock Options
(in thousands)
Weighted
Average
Exercise Price
Weighted Average
Remaining
Contractual Life
(in years)
Aggregate
Intrinsic
Value
(in millions)
Outstanding as of December 31, 201726,716 $13   
Granted3,491 27   
Exercised(4,385)11   
Cancelled/forfeited(519)22   
Outstanding as of December 31, 201825,304 $16 
Granted2,992 40 
Exercised(4,872)12 
Cancelled/forfeited(359)24 
Outstanding as of December 31, 201923,065 $19 
Granted3,819 42 
Exercised(3,096)13 
Cancelled/forfeited(666)27 
Outstanding as of December 31, 202023,122 $24 5.5$312 
Exercisable as of December 31, 202015,105 17 4.1290 
Expected to vest as of December 31, 20207,683 37 8.222 
Total vested and expected to vest as of December 31, 202022,787 $24 5.4$312