Long-Term Incentive Plans (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of transactions involving stock option awards

The table below summarizes the activity related to stock option awards under the Company's Incentive Plans during 2023.

		Number of Shares (In millions)	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term	Intrinsic Value (In millions)
Outstanding as of December 31, 2022		15.6	$	481.62
2023:	Granted	1.6	$	835.91
	Forfeited	(0.2)	$	580.17
	Exercised	(2.8)	$	412.05
Outstanding as of December 31, 2023		14.2	$	534.13	6.0 years	$	4,918.6
Vested and expected to vest as of December 31, 2023		13.8	$	526.95	5.9 years	$	4,852.2
Exercisable as of December 31, 2023		9.6	$	450.01	4.7 years	$	4,118.0

Schedule of weighted-average exercise prices and weighted-average grant-date fair values of options issued

The table below summarizes the weighted-average exercise prices and weighted-average grant-date fair values of options issued during the years ended December 31, 2023, 2022, and 2021.

	Number of Options Granted (In millions)	Weighted-Average Exercise Price		Weighted-Average Fair Value
2023:
Exercise price equal to Market Price	1.6	$	835.91	$	264.37
2022:
Exercise price equal to Market Price	2.0	$	705.02	$	220.88
2021:
Exercise price equal to Market Price	2.3	$	628.43	$	174.20

Schedule of weighted-average values of assumptions used in computing fair value of option grants

The following table summarizes the weighted average values of the assumptions used in computing the fair value of option grants during 2023, 2022, and 2021.

	2023		2022		2021
Expected volatility	26	%	28	%	27	%
Expected lives from grant date	5.1 years		5.2 years		5.5 years
Expected dividend yield	0	%	0	%	0	%
Risk-free interest rate	4.29	%	3.50	%	1.22	%

The following table summarizes the weighted average values of the assumptions used in computing the fair value of PSUs that were granted during 2022. The Company did not grant PSUs during 2023 and 2021.

	2022
Expected volatility	32%
Expected dividend yield	0%
Risk-free interest rate	3.3%

Schedule of activity related to restricted stock awards

A summary of the Company's activity related to restricted stock awards and time-based restricted stock units (excluding performance-based restricted stock units, which are detailed further below) (collectively, "restricted stock") during 2023 is summarized below.

		Number of Shares/Units (In millions)	Weighted-Average Grant Date Fair Value
Unvested as of December 31, 2022		2.6	$	571.19
2023:	Granted	0.8	$	838.11
	Vested	(1.0)	$	458.49
	Forfeited	(0.1)	$	585.23
Unvested as of December 31, 2023		2.3	$	705.37

Schedule of activity related to performance-based awards

The table below summarizes activity related to PSUs during 2023. The number of unvested PSUs represents the maximum number of units that are eligible to be earned.

		Number of Shares/Units (In millions)	Weighted-Average Grant Date Fair Value
Unvested as of December 31, 2022		1.5	$	245.94
2023:	Vested	(0.1)	$	198.10
Unvested as of December 31, 2023		1.4	$	247.91