Share-Based Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Summary of Stock Option Activity

A summary of stock option activity is as follows:

	Shares (000)			Wtd. Avg. Exercise Price Per Share		Wtd. Avg.  Remaining  Contractual Term (years)		Aggregate Intrinsic Value (in millions)
Outstanding, January 1, 2021		788		$	91
Granted		130			92
Exercised		(38	)		93			$	—
Expired or cancelled		(28	)		123
Outstanding, December 31, 2021		852		$	90		6.1	$	8
Exercisable, December 31, 2021		510		$	89		4.8	$	6
Outstanding, January 1, 2022		852		$	90
Granted		—		N/A
Exercised		—		N/A
Expired or cancelled		—		N/A
Outstanding, December 31, 2022		852		$	90		5.1	$	2
Exercisable, December 31, 2022		639		$	90		4.4	$	2
Outstanding, January 1, 2023		852			90
Granted		—		N/A
Exercised		(23	)		76
Expired or cancelled		(19	)		109
Outstanding, December 31, 2023		810		$	90		4.4	$	1
Exercisable, December 31, 2023		706		$	90		4.1	$	1

Schedule of Options Outstanding and Exercisable

Options outstanding and exercisable as of December 31, 2023 were as follows:

	Options Outstanding						Options Exercisable
Exercise Price	Shares (000)		Weighted- Average  Remaining  Contractual Life (years)		Weighted- Average Exercise Price		Shares (000)		Weighted- Average Exercise Price
$75-$80		177		1.6		76		177		76
$81-$89		179		4.5		84		179		84
$90-$95		286		6.6		93		182		93
$96-$123		168		3.6		109		168		109
		810		4.4	$	90		706	$	90

Assumptions Used to Estimate Fair Value of Share Awards

We estimated the fair value of stock options on the 2021 grant date using the Black-Scholes option pricing model and the following assumptions:

	2021
Average risk-free interest rate		0.7	%
Expected dividend yield		2.7	%
Expected volatility		35.0	%
Expected term (years)		6.0

Summary of Restricted Stock Activity

A summary of restricted stock activity is as follows:

	Shares (000)			Wtd. Avg. Price Per Share		Wtd. Avg. Remaining Contractual Term (years)		Aggregate Intrinsic Value (in millions)
Unvested, January 1, 2021		484		$	94		1.4
Granted		208			87
Vested		(124	)		106
Forfeited		(23	)		84
Unvested, December 31, 2021		545		$	85		1.3
Granted		245			104
Vested		(177	)		80
Forfeited		(25	)		88
Unvested, December 31, 2022		588		$	94		1.4
Granted		261			82
Vested		(177	)		87
Forfeited		(44	)		90
Unvested, December 31, 2023		628		$	91		1.4	$	50

Performance Share Units

A summary of the performance share units detail by grant year is as follows:

	2020			2021 (Regular)		2021 (Additional)		2022 (Regular)		2022 (Experis)		2023
Grant Date(s)	February 14, 2020			February 12, 2021		February 12, 2021		February 11, 2022		February 11, 2022		February 17, 2023
Performance Period (years)	2020-2022			2021		2021-2022		2022-2024		2022-2024		2023-2025
Vesting Date(1)	February 2023			February 2024		February 2023		February 2025		February 2025		February 2026
Payout Levels (in units):
Threshold Award		59,698			61,076		39,882		—		—		—
Target Award		119,395			122,152		79,763		106,116		28,275		132,537
Outstanding Award		238,790			244,304		159,526		212,232		84,826		265,074
Shares Issued in 2023	N/A			N/A			159,526	N/A		N/A		N/A
Payout Achieved Over Performance Period		—	(2)		243,526		159,526	N/A		N/A		N/A

(1) Awards are scheduled to vest after the Committee determines the achievement of the performance criteria.

(2) In the fourth quarter of 2022, the Committee exercised its discretion in respect of the payout of the 2020 grant. On the basis that an additional special one-time grant had been awarded in 2021 to supplement the 2020 grant, the Committee determined that the 2020 grant would have a zero payout.