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Stock-Based Compensation Programs (Tables)
12 Months Ended
Dec. 31, 2019
Stock-Based Compensation Programs  
Summary of stock option activity

Number of

Weighted Average

    

Shares

    

Exercise Price

Beginning of year

15,175,811

$

27.45

Granted

1,624,395

51.42

Exercised

(4,173,273)

21.19

Canceled/forfeited

(241,473)

42.13

End of period

12,385,460

32.41

Vested and exercisable, end of year

7,957,900

$

26.82

Reserved for future grants

19,641,712

Schedule of weighted average assumptions used for estimating fair values of options

2019 Grants

2018 Grants

2017 Grants

Expected dividend yield

0.79

%  

1.03

%  

0.89

%  

Expected stock price volatility

20.36

%  

21.98

%  

19.62

%  

Risk-free interest rate

2.59

%  

2.47

%  

2.00

%  

Expected life of options (in years)

6.40

years  

6.10

years  

5.94

years  

Summary of restricted stock activity

Weighted

Number of

Average

    

Shares/Units

    

Grant Price

Beginning of year

2,875,294

$

34.17

Granted

543,384

45.88

Vested

(871,225)

30.83

Canceled/forfeited

(108,717)

39.68

End of year

2,438,736

$

37.73