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STOCK-BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2022
Share-Based Payment Arrangement, Noncash Expense [Abstract]  
Share-based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block]
As of December 31, 2022, we had the following outstanding, non-vested Restricted Units granted under the MIP:
Restricted Units
(in thousands)
Weighted-Average
Grant Date
Fair Value
Non-vested as of January 1, 20223,467 $163.32 
Vested(3,613)166.65 
Granted3,254 223.72 
Reinvested Dividends140 N/A
Forfeited / Expired(142)199.66 
Non-vested as of December 31, 20223,106 $221.97 
Schedule of Share-based Payment Award, Performance Units, Valuation Assumptions [Table Text Block]
The weighted-average assumptions used in our Monte Carlo models for each award year were as follows:
202220212020
Risk-free interest rate2.35 %0.19 %0.15 %
Expected volatility31.92 %30.70 %27.53 %
Weighted-average fair value of units granted$227.00 $168.05 $92.77 
Share payout107.37 %102.39 %101.00 %
Share-Based Payment Arrangement, Performance Shares, Activity As of December 31, 2022, we had the following outstanding, non-vested RPUs granted under our LTIP program:
RPUs
(in thousands)
Weighted-Average
Grant Date
Fair Value
Non-vested as of January 1, 20221,636 $159.34 
Vested(973)153.13 
Granted613 227.00 
Reinvested Dividends68 N/A
Forfeited / Expired(101)174.70 
Non-vested as of December 31, 20221,243 $197.17 
Share-based Payment Arrangement, Option, Activity [Table Text Block] The following is an analysis of options to purchase shares of class A common stock issued and outstanding:
Options
(in thousands)
Weighted-Average
Exercise
Price
Weighted-Average Remaining
Contractual Term
(in years)
Aggregate Intrinsic
Value
(in millions)
Outstanding at January 1, 20221,599 $112.18 
Exercised(192)98.45 
Granted109 214.58 
Forfeited / Expired(50)N/A
Outstanding as of December 31, 20221,466 $120.51 5.96$82 
Options Vested and Expected to Vest1,466 $120.51 5.96$82 
Exercisable as of December 31, 20221,047 $108.81 5.19$68 
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]
The fair value of each option grant is estimated using the Black-Scholes option pricing model. The weighted-average assumptions used by year, and the calculated weighted-average fair values of options, are as follows:
202220212020
Expected dividend yield2.35 %3.31 %3.51 %
Risk-free interest rate2.39 %0.84 %1.26 %
Expected life in years7.57.57.5
Expected volatility25.04 %23.15 %19.25 %
Weighted-average fair value of options granted$48.45 $23.71 $11.74