Stock-based Compensation (Tables)
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12 Months Ended |
Dec. 31, 2018 |
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| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
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| Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan [Table Text Block] |
The following table summarizes stock-based compensation costs for the years ended December 31, 2018, 2017 and 2016. | | | | | | | | | | | | Year Ended December 31 | Millions of dollars | 2018 | 2017 | 2016 | Stock-based compensation cost | $ | 274 |
| $ | 290 |
| $ | 262 |
| Tax benefit | (51 | ) | (64 | ) | (77 | ) | Stock-based compensation cost, net of tax | $ | 223 |
| $ | 226 |
| $ | 185 |
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| Stock Options |
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| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
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| Share-based Compensation, Stock Options, Activity [Table Text Block] |
The following table represents our stock options activity during 2018. | | | | | | | | | | | | Number
of Shares
(in millions) | Weighted
Average
Exercise
Price
per Share | Weighted
Average
Remaining
Contractual Term (years) | Aggregate
Intrinsic
Value
(in millions) | Outstanding at January 1, 2018 | 20.9 |
| $ | 44.92 |
| | | Granted | 3.0 |
| 46.39 |
| | | Exercised | (2.2 | ) | 40.34 |
| | | Forfeited/expired | (0.7 | ) | 49.44 |
| | | Outstanding at December 31, 2018 | 21.0 |
| $ | 45.44 |
| 6.1 | $ | 2 |
| Exercisable at December 31, 2018 | 15.6 |
| $ | 45.28 |
| 5.1 | $ | 2 |
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| Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] |
The assumptions and resulting fair values of options granted were as follows:
| | | | | | Year Ended December 31 | | 2018 | 2017 | 2016 | Expected term (in years) | 5.27 | 5.24 | 5.21 | Expected volatility | 28% | 32% | 37% | Expected dividend yield | 1.37 - 2.29% | 1.28 - 1.72% | 1.35 - 2.46% | Risk-free interest rate | 2.27 - 2.84% | 1.79 - 2.14% | 1.13 - 1.84% | Weighted average grant-date fair value per share | $11.56 | $13.11 | $12.33 |
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| Restricted Stock |
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| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
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| Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] |
The following table represents our restricted stock awards and restricted stock units granted, vested and forfeited during 2018. | | | | | | | | Number of Shares
(in millions) | Weighted Average
Grant-Date Fair
Value per Share | Nonvested shares at January 1, 2018 | 15.1 |
| $ | 45.42 |
| Granted | 4.9 |
| 47.43 |
| Vested | (4.8 | ) | 45.24 |
| Forfeited | (0.8 | ) | 46.62 |
| Nonvested shares at December 31, 2018 | 14.4 |
| $ | 46.01 |
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| Employee Stock Purchase Plan |
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| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
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| Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] |
The assumptions and resulting fair values were as follows: | | | | | | | | | | | | Year Ended December 31 | | 2018 | 2017 | 2016 | Expected volatility | 25 | % | 29 | % | 36 | % | Expected dividend yield | 1.62 | % | 1.51 | % | 1.87 | % | Risk-free interest rate | 1.92 | % | 0.86 | % | 0.25 | % | Weighted average grant-date fair value per share | $ | 8.86 |
| $ | 9.95 |
| $ | 8.61 |
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