Stock Based Compensation Plans and Other Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Summary of Option Activity

Stock option transactions for the year ended December 31, 2023 were as follows:

						Weighted
				Weighted		Average
				Average		Remaining		Aggregate
				Exercise		Contractual		Intrinsic
	Options			Price		Term		Value
Outstanding as of December 31, 2022		11.9		$	62.64
Granted		1.0			83.64
Exercised		(2.5	)		44.72
Cancelled		(0.2	)		81.33
Outstanding as of December 31, 2023		10.2		$	68.77		5.8	$	265.1
Exercisable as of December 31, 2023		6.4		$	59.26		4.3	$	226.4

Summary of Information Relating to Options Outstanding and Exercisable

The following table summarizes information relating to options outstanding and exercisable as of December 31, 2023:

	Options Outstanding						Options Exercisable
			Weighted		Weighted				Weighted
	Outstanding		Average		Average		Exercisable		Average
Range of	as of		Remaining		Exercise		as of		Exercise
Exercise Prices	12/31/2023		Contractual Life		Price		12/31/2023		Price
$30.01 - $40.00		0.2		0.5	$	34.81		0.2	$	34.81
$40.01 - $50.00		1.3		2.1	$	44.25		1.3	$	44.25
$50.01 - $60.00		2.3		4.0	$	51.85		2.3	$	51.85
$60.01 - $70.00		0.0		0.0	$	0.0		0.0	$	0.0
$70.01 - $80.00		2.5		6.0	$	75.33		2.5	$	75.33
$80.01 - $90.00		3.8		8.3	$	84.35		0.0	$	0.0
$90.01 - $100.00		0.1		8.1	$	94.13		0.1	$	90.83
		10.2		5.8	$	68.77		6.4	$	59.26

Information Regarding Intrinsic Value of Stock Options Exercised and Stock Compensation Expense Related to Stock Option Awards

The following table provides information regarding the intrinsic value of stock options exercised and stock compensation expense related to stock option awards:

	2023		2022		2021
Intrinsic Value of Stock Options Exercised	$	125.5	$	32.1	$	157.3
Stock Compensation Expense Related to Stock Option Awards	$	26.3	$	25.7	$	23.3
Issued Stock Options		1.0		1.6		1.5
Weighted Average Fair Value of Stock Options issued (per share)	$	24.06	$	21.50	$	17.32
Fair Value of Stock Options Issued	$	24.9	$	33.6	$	26.6

Assumptions Used in Valuation of Issued Stock Options

The following table provides a summary of the assumptions used in the valuation of issued stock options:

	2023			2022			2021
Risk-free interest rate		4.0	%		2.9	%		1.3	%
Expected life in years		7.3			7.1			7.2
Expected volatility		22.4	%		21.7	%		20.7	%
Dividend yield		1.3	%		1.2	%		1.2	%