EMPLOYEE BENEFIT PLANS (Tables)

12 Months Ended

Dec. 31, 2023

Retirement Benefits [Abstract]

Schedule of Compensation Expense

The compensation expense that has been charged against income for these plans was as follows for the years ended December 31, 2023, 2022, and 2021:

	2023		2022		2021
	(in millions)
Stock-based compensation expense by type:
Restricted stock	$	168	$	207	$	171
Stock options	7		9		9
Total stock-based compensation expense	175		216		180
Tax benefit recognized	(28)		(28)		(15)
Stock-based compensation expense, net of tax	$	147	$	188	$	165

Schedule of Restricted Stock Awards Activity

Activity for our restricted stock was as follows for the year ended December 31, 2023:

	Shares	Weighted- Average Grant-Date Fair Value
	(shares in thousands)
Nonvested restricted stock at December 31, 2022	813	$	429.22
Granted	437	508.23
Vested	(428)	389.26
Forfeited	(68)	441.20
Nonvested restricted stock at December 31, 2023	754	$	488.06

Schedule of Weighted-Average Fair Value Assumptions

The fair value was estimated on the date of grant using the Black-Scholes pricing model with the weighted-average assumptions indicated below:

	2023			2022			2021
Weighted-average fair value at grant date	$	130.74		$	113.35		$	92.21
Expected option life (years)	3.0 years			3.6 years			3.7 years
Expected volatility	31.6		%	36.1		%	33.8		%
Risk-free interest rate at grant date	4.5		%	1.8		%	0.4		%
Dividend yield	0.7		%	0.7		%	0.7		%

Schedule of Activity for Option Plans

Activity for our option plans was as follows for the year ended December 31, 2023:

	Shares  Under Option	Weighted-Average Exercise Price
	(shares in thousands)
Options outstanding at December 31, 2022	204	$	381.37
Granted	63	508.80
Exercised	(22)	371.05
Forfeited	(3)	491.82
Options outstanding at December 31, 2023	242	$	415.18
Options exercisable at December 31, 2023	112	$	366.69