XML 67 R47.htm IDEA: XBRL DOCUMENT v3.25.0.1
Share-Based Incentive Compensation (Tables)
12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Assumptions used in estimating fair value of options on grant date [Table Text Block] The following table provides information about options granted:
(for the year ended December 31,)202420232022
Assumptions used in estimating fair value of options on grant date
Expected term of stock options6 years6 years6 years
Expected volatility of Company’s stock25.80 %
25.63% - 25.99%
24.81 %
Weighted average volatility25.80 %25.63 %24.81 %
Expected annual dividend per share$4.00$3.72$3.52
Risk-free rate3.99 %
3.63% - 3.89%
1.83 %
Additional information
Weighted average grant-date fair value of
 options granted (per share)
$56.45 $47.77 $35.70 
Total intrinsic value of options exercised
 during the year (in millions)
$205 $58 $110 
Additional information regarding option grants [Table Text Block] The following table provides information about options granted:
(for the year ended December 31,)202420232022
Assumptions used in estimating fair value of options on grant date
Expected term of stock options6 years6 years6 years
Expected volatility of Company’s stock25.80 %
25.63% - 25.99%
24.81 %
Weighted average volatility25.80 %25.63 %24.81 %
Expected annual dividend per share$4.00$3.72$3.52
Risk-free rate3.99 %
3.63% - 3.89%
1.83 %
Additional information
Weighted average grant-date fair value of
 options granted (per share)
$56.45 $47.77 $35.70 
Total intrinsic value of options exercised
 during the year (in millions)
$205 $58 $110 
Summary of stock option activity under the Company's 2023 Incentive Plan and legacy share-based incentive compensation plans [Table Text Block]
A summary of stock option activity under the 2023 Incentive Plan and the legacy plans as of and for the year ended December 31, 2024 is as follows:
Stock OptionsNumberWeighted
Average
Exercise
Price
Weighted
Average
Contractual
Life
Remaining
Aggregate
Intrinsic
Value
($ in millions)
Outstanding, beginning of year8,422,982 $141.82 
Original grants770,664 213.01 
Exercised(2,152,345)127.33 
Forfeited or expired(35,554)185.48 
Outstanding, end of year7,005,747 $153.89 5.7 years$610 
Vested at end of year (1)
6,241,970 $149.36 5.4 years$571 
Exercisable at end of year4,558,301 $134.65 4.5 years$484 
___________________________________________
(1)Represents awards for which the requisite service has been rendered, including those that are retirement eligible.
Summary of restricted stock units, deferred stock units and performance share activity [Table Text Block]
A summary of restricted stock units, deferred stock units and performance share activity under the 2023 Incentive Plan and the legacy plans as of and for the year ended December 31, 2024 is as follows:
Restricted and Deferred Stock
Units
Performance Shares
Other Equity InstrumentsNumberWeighted
Average
Grant-Date
Fair Value
NumberWeighted Average
Grant-Date Fair
Value
Nonvested, beginning of year1,025,695 $167.98 1,004,799 $180.87 
Granted632,770 210.23 282,921 213.01 
Vested(500,718)(1)164.60 (575,266)(2)172.50 
Forfeited(56,758)186.74 (9,156)189.68 
Performance-based adjustment— — 452,350 (3)200.86 
Nonvested, end of year1,100,989 $192.83 1,155,648 $200.66 
___________________________________________
(1)Represents awards for which the requisite service has been rendered.
(2)Reflects the number of performance shares attributable to the performance goals attained over the completed performance period (three years) and for which service conditions have been met.
(3)Represents the current year change in estimated performance shares to reflect the attainment of performance goals for the awards that were granted in each of the years 2022 through 2024.