Share-Based Compensation

9 Months Ended

Sep. 30, 2023

Share-Based Payment Arrangement [Abstract]

Share-Based CompensationThe Company recognized $76 million and $89 million of share-based compensation expense during the three months ended September 30, 2023 and 2022, respectively, and $275 million and $244 million of share-based compensation expense during the nine months ended September 30, 2023 and 2022, respectively. The Company’s share-based compensation awards are typically granted in the first quarter of the year, and may also occur throughout the year in conjunction with acquisitions of businesses. At September 30, 2023, the total remaining unrecognized compensation cost for restricted stock units and awards, performance share units, and unvested stock options, net of estimated forfeitures, of $461 million is expected to be recognized over a weighted-average period of 1.9 years.

A summary of restricted stock unit, restricted stock award and performance share unit activity during the nine months ended September 30, 2023 is as follows:


	Restricted Stock Units and Awards			Performance Share Units
	Shares (In thousands)	Weighted-Average Grant Date Fair Value		Shares (In thousands)	Weighted-Average Grant Date Fair Value
Units and awards - December 31, 2022	5,530	$	96.88	3,243	$	100.93

Granted	2,483	113.32		378	131.31
Forfeited	(328)	101.96		(51)	101.10
Vested	(2,101)	99.10		(104)	101.11
Units and awards - September 30, 2023	5,584	$	103.03	3,466	$	103.97

A summary of stock option activity during the nine months ended September 30, 2023 is as follows:


	Shares (In thousands)	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value (In millions)
Stock options outstanding - December 31, 2022	6,336	$	62.91

Granted	—	—
Forfeited	(32)	112.83
Exercised	(1,995)	45.08
Stock options outstanding - September 30, 2023	4,309	$	70.80	3.86	$	182
Stock options exercisable - September 30, 2023	4,006	$	67.67	3.65	$	181