XML 106 R2.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Pay vs Performance Disclosure - USD ($)
6 Months Ended 12 Months Ended
Dec. 31, 2021
Jun. 30, 2021
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Pay vs Performance Disclosure            
Pay vs Performance Disclosure, Table    
Pay Versus Performance Table
The following table* summarizes the SCT compensation and CAP for our CEO(s) and the average for our
non-CEO
NEOs for the last four fiscal years ending December 31, 2023. In accordance with the PVP rules, the table also includes certain prescribed performance related measures.
 
   
Summary
Compensation
Table Total
for CEO
(Davis)
   
Summary
Compensation
Table Total
for CEO
(Frazier)
   
Compensation
Actually Paid
to CEO
(Davis)
(5)
   
Compensation
Actually Paid
to CEO
(Frazier)
(5)
   
Average
Summary
Compensation
Table Total
for
Non-CEO

NEOs
   
Average
Compensation
Actually Paid
to Non-CEO NEOs 
(5)
   
Value of Initial Fixed $100
Investment Based on
             
Fiscal
Year
 
Total
Shareholder
Return
(6)
   
Peer Group
Total
Shareholder
Return
(7)
   
GAAP
Net Income
($ 000’s)
   
Non-GAAP

EPS
(8)
 
2023
(1)
    $20,273,287       —        $26,701,326       —        $7,629,512       $9,360,664       $142.53       $142.00       $364,655       $1.51  
2022
(2)
    18,650,093       —        52,474,235       —        8,406,647       22,341,814       141.12       138.11       14,519,000       7.48  
2021
(3)
    13,722,121       15,196,920       14,390,893       13,328,924       6,709,905       7,004,950       94.47       130.44       12,345,000       5.37  
2020
(4)
    —        22,088,429       —        10,578,487       6,041,722       3,582,756       92.79       106.53       4,519,000       2.97  
(1)
Non-CEO
NEOs for 2023 are Ms. Litchfield, Mr. Chattopadhyay, Mr. DeLuca, and Dr. Li.
(2)
Non-CEO
NEOs for 2022 are Mr. Frazier, Ms. Litchfield, Mr. Guindo, Dr. Li, and Ms. Zachary. Since Mr. Davis was CEO for all of 2022, only his compensation is shown in the CEO SCT and CAP columns.
(3)
Non-CEO
NEOs for 2021 are Ms. Litchfield, Mr. Clyburn, Mr. DeLuca, and Dr. Li. As a result of Mr. Frazier’s retirement as CEO, effective June 30, 2021, and Mr. Davis’s promotion to CEO, effective July 1, 2021, the Pay versus Performance table includes the compensation for both executives as CEO in 2021. The SCT and CAP amounts reported for Mr. Davis and Mr. Frazier reflect compensation for all of 2021, not just the respective periods in which they were CEO.
(4)
Non-CEO
NEOs for 2020 are Mr. Davis, Mr. Chattopadhyay, Dr. Perlmutter, and Ms. Zachary. Since Mr. Frazier was CEO for all of 2020, only his compensation is shown in the CEO SCT and CAP columns.
(5)
See following table for additional details on the calculation of the CAP value.
(6)
TSR assumes an initial $100 investment in Merck stock beginning on December 31, 2019. TSR is cumulative, with the value determined at the end of each applicable fiscal year, calculated in accordance with Item 201(e) of Regulation
S-K.
(7)
Peer Group TSR assumes an initial $100 investment in Merck’s primary peer group (market
cap-weighted).
As described on page 49, Merck’s primary peer group consists of the following companies: AbbVie, Amgen, AstraZeneca, Bristol-Myers Squibb, Eli Lilly, Gilead Sciences, GlaxoSmithKline, Johnson & Johnson, Novartis, Pfizer, Roche Holding AG, and Sanofi.
(8)
The SEC requires the disclosure of a company selected measure, representing the most important financial metric used for determining CAP for the current fiscal year. As described in more detail on page 71, the selected measure for 2023 is
non-GAAP
EPS. Refer to Appendix A on page 104 for a reconciliation between GAAP and
non-GAAP
financial measures. Appendix B on page 106 provides an explanation of adjustments to
non-GAAP
results for incentive plans purposes.
* Compensation shown is rounded to the nearest dollar.
 
 
The following table* provides additional information on how CAP for each reporting year was determined, starting with SCT compensation and applying each of the required adjustments, as applicable, in accordance with the PVP rules.
 
  
 
 
Summary
Compensation
Table Total
Compensation
   
Value of
Pension
Benefits
Deducted
from SCT 
(1)
   
Value
of Equity
Deducted
from SCT
   
Value of
Pension
Benefits
Per CAP
Definition 
(2)
   
Fair Value of
Equity
Compensation
Granted in
Current Year 
(3)
   
Year-Over-Year

Change in Fair
Value of
Unvested
Equity 
(4)
   
Change in Fair
Value of Equity
that Vested
During the
Year 
(5)
   
Value of
Dividends
Accrued or
Paid on Stock
Awards 
(6)
   
Compensation
Actually Paid
 
 
CEO (Davis)
    
 
      
 
      
 
      
 
      
 
      
 
      
 
      
 
      
 
 
2023
    $20,273,287       $651,163       $14,047,586       $271,130       $18,028,095       $(97,780)       $1,522,952       $1,402,391       $26,701,326  
2022
    18,650,093       180,259       12,393,581       280,085       26,824,642       14,171,478       3,931,065       1,190,712       52,474,235  
2021
    13,722,121       235,640       9,084,579       265,823       10,649,030       (669,339     (661,118     404,596       14,390,893  
 
CEO (Frazier)
    
 
      
 
      
 
      
 
      
 
      
 
      
 
      
 
      
 
 
2021
    15,196,920             10,615,096       418,183       12,443,073       (2,633,787     (2,435,189     954,819       13,328,924  
2020
    22,088,429       2,288,641       15,502,597       379,037       17,150,711       (5,340,113     (7,290,425     1,382,086       10,578,487  
 
Average
Non-CEO
NEOs
      
 
      
 
      
 
      
 
      
 
      
 
 
2023
    7,629,512       479,834       4,253,332       152,186       5,458,528       (43,471     475,952       421,122       9,360,664  
2022
    8,406,647       42,041       5,514,804       122,447       9,133,936       6,336,440       3,346,846       552,343       22,341,814  
2021
    6,709,905       107,732       4,261,734       122,147       4,829,729       (247,588     (208,749     168,972       7,004,950  
2020
    6,041,722       498,315       3,518,845       157,683       3,892,938       (1,222,908     (1,583,911     314,391       3,582,756  
(1)
Represents the aggregate change in actuarial present value of the NEOs’ accrued benefits under the Company’s pension plans. The change in pension value for Mr. Frazier is negative in 2021, primarily due to age and an increase in discount rates. In accordance with SEC rules, a $0 value is reported rather than a negative amount.
(2)
These amounts represent the present value of expected pension benefit accruals earned in the current year and reflects assumptions used for financial statement reporting purposes. They do not reflect the change in the present value of the accumulated pension benefit due to changes in assumptions such as discount rate from year to year.
(3)
These amounts represent the fair value as of the indicated fiscal
year-end
of the outstanding and unvested stock and option awards granted during such fiscal year, calculated in accordance with the methodology used for financial reporting purposes. The fair value differs from the value in the SCT because for purposes of CAP the fair value for equity granted in the current year is determined as of the last day of the applicable year. Fair values in the SCT are determined as of the grant date.
(4)
These amounts represent the change in fair value during the indicated fiscal year of each stock and option award that was granted in a prior fiscal year and that remained outstanding and unvested as of the last day of the indicated fiscal year, calculated in accordance with the methodology used for financial reporting purposes and, for awards subject to performance-based vesting conditions, based on an estimate of the probable outcome of such performance-based vesting conditions as of the last day of the fiscal year.
(5)
These amounts represent the change in fair value, measured from the prior fiscal
year-end
to the vesting date, of each stock and option award that was granted in a prior fiscal year and which vested during the indicated fiscal year, calculated in accordance with the methodology used for financial reporting purposes.
(6)
These amounts represent the dollar value of any dividends or other earnings accrued or paid on stock or option awards in the applicable fiscal year or for awards that vested in the fiscal year, prior to the vesting date, that are not otherwise reflected in the fair value of such awards or included in any
other
component of total compensation for the applicable fiscal year.
* Compensation shown is rounded to the nearest dollar.
 
     
Company Selected Measure Name     Non-GAAP EPS      
Named Executive Officers, Footnote    
(1)
Non-CEO
NEOs for 2023 are Ms. Litchfield, Mr. Chattopadhyay, Mr. DeLuca, and Dr. Li.
(2)
Non-CEO
NEOs for 2022 are Mr. Frazier, Ms. Litchfield, Mr. Guindo, Dr. Li, and Ms. Zachary. Since Mr. Davis was CEO for all of 2022, only his compensation is shown in the CEO SCT and CAP columns.
(3)
Non-CEO
NEOs for 2021 are Ms. Litchfield, Mr. Clyburn, Mr. DeLuca, and Dr. Li. As a result of Mr. Frazier’s retirement as CEO, effective June 30, 2021, and Mr. Davis’s promotion to CEO, effective July 1, 2021, the Pay versus Performance table includes the compensation for both executives as CEO in 2021. The SCT and CAP amounts reported for Mr. Davis and Mr. Frazier reflect compensation for all of 2021, not just the respective periods in which they were CEO.
(4)
Non-CEO
NEOs for 2020 are Mr. Davis, Mr. Chattopadhyay, Dr. Perlmutter, and Ms. Zachary. Since Mr. Frazier was CEO for all of 2020, only his compensation is shown in the CEO SCT and CAP columns.
     
Peer Group Issuers, Footnote     Peer Group TSR assumes an initial $100 investment in Merck’s primary peer group (market
cap-weighted).
As described on page 49, Merck’s primary peer group consists of the following companies: AbbVie, Amgen, AstraZeneca, Bristol-Myers Squibb, Eli Lilly, Gilead Sciences, GlaxoSmithKline, Johnson & Johnson, Novartis, Pfizer, Roche Holding AG, and Sanofi.
     
Adjustment To PEO Compensation, Footnote    
The following table* provides additional information on how CAP for each reporting year was determined, starting with SCT compensation and applying each of the required adjustments, as applicable, in accordance with the PVP rules.
 
  
 
 
Summary
Compensation
Table Total
Compensation
   
Value of
Pension
Benefits
Deducted
from SCT 
(1)
   
Value
of Equity
Deducted
from SCT
   
Value of
Pension
Benefits
Per CAP
Definition 
(2)
   
Fair Value of
Equity
Compensation
Granted in
Current Year 
(3)
   
Year-Over-Year

Change in Fair
Value of
Unvested
Equity 
(4)
   
Change in Fair
Value of Equity
that Vested
During the
Year 
(5)
   
Value of
Dividends
Accrued or
Paid on Stock
Awards 
(6)
   
Compensation
Actually Paid
 
 
CEO (Davis)
    
 
      
 
      
 
      
 
      
 
      
 
      
 
      
 
      
 
 
2023
    $20,273,287       $651,163       $14,047,586       $271,130       $18,028,095       $(97,780)       $1,522,952       $1,402,391       $26,701,326  
2022
    18,650,093       180,259       12,393,581       280,085       26,824,642       14,171,478       3,931,065       1,190,712       52,474,235  
2021
    13,722,121       235,640       9,084,579       265,823       10,649,030       (669,339     (661,118     404,596       14,390,893  
 
CEO (Frazier)
    
 
      
 
      
 
      
 
      
 
      
 
      
 
      
 
      
 
 
2021
    15,196,920             10,615,096       418,183       12,443,073       (2,633,787     (2,435,189     954,819       13,328,924  
2020
    22,088,429       2,288,641       15,502,597       379,037       17,150,711       (5,340,113     (7,290,425     1,382,086       10,578,487  
 
Average
Non-CEO
NEOs
      
 
      
 
      
 
      
 
      
 
      
 
 
2023
    7,629,512       479,834       4,253,332       152,186       5,458,528       (43,471     475,952       421,122       9,360,664  
2022
    8,406,647       42,041       5,514,804       122,447       9,133,936       6,336,440       3,346,846       552,343       22,341,814  
2021
    6,709,905       107,732       4,261,734       122,147       4,829,729       (247,588     (208,749     168,972       7,004,950  
2020
    6,041,722       498,315       3,518,845       157,683       3,892,938       (1,222,908     (1,583,911     314,391       3,582,756  
(1)
Represents the aggregate change in actuarial present value of the NEOs’ accrued benefits under the Company’s pension plans. The change in pension value for Mr. Frazier is negative in 2021, primarily due to age and an increase in discount rates. In accordance with SEC rules, a $0 value is reported rather than a negative amount.
(2)
These amounts represent the present value of expected pension benefit accruals earned in the current year and reflects assumptions used for financial statement reporting purposes. They do not reflect the change in the present value of the accumulated pension benefit due to changes in assumptions such as discount rate from year to year.
(3)
These amounts represent the fair value as of the indicated fiscal
year-end
of the outstanding and unvested stock and option awards granted during such fiscal year, calculated in accordance with the methodology used for financial reporting purposes. The fair value differs from the value in the SCT because for purposes of CAP the fair value for equity granted in the current year is determined as of the last day of the applicable year. Fair values in the SCT are determined as of the grant date.
(4)
These amounts represent the change in fair value during the indicated fiscal year of each stock and option award that was granted in a prior fiscal year and that remained outstanding and unvested as of the last day of the indicated fiscal year, calculated in accordance with the methodology used for financial reporting purposes and, for awards subject to performance-based vesting conditions, based on an estimate of the probable outcome of such performance-based vesting conditions as of the last day of the fiscal year.
(5)
These amounts represent the change in fair value, measured from the prior fiscal
year-end
to the vesting date, of each stock and option award that was granted in a prior fiscal year and which vested during the indicated fiscal year, calculated in accordance with the methodology used for financial reporting purposes.
(6)
These amounts represent the dollar value of any dividends or other earnings accrued or paid on stock or option awards in the applicable fiscal year or for awards that vested in the fiscal year, prior to the vesting date, that are not otherwise reflected in the fair value of such awards or included in any
other
component of total compensation for the applicable fiscal year.
* Compensation shown is rounded to the nearest dollar.
 
     
Non-PEO NEO Average Total Compensation Amount     $ 7,629,512 $ 8,406,647 $ 6,709,905 $ 6,041,722
Non-PEO NEO Average Compensation Actually Paid Amount     $ 9,360,664 22,341,814 7,004,950 3,582,756
Adjustment to Non-PEO NEO Compensation Footnote    
The following table* provides additional information on how CAP for each reporting year was determined, starting with SCT compensation and applying each of the required adjustments, as applicable, in accordance with the PVP rules.
 
  
 
 
Summary
Compensation
Table Total
Compensation
   
Value of
Pension
Benefits
Deducted
from SCT 
(1)
   
Value
of Equity
Deducted
from SCT
   
Value of
Pension
Benefits
Per CAP
Definition 
(2)
   
Fair Value of
Equity
Compensation
Granted in
Current Year 
(3)
   
Year-Over-Year

Change in Fair
Value of
Unvested
Equity 
(4)
   
Change in Fair
Value of Equity
that Vested
During the
Year 
(5)
   
Value of
Dividends
Accrued or
Paid on Stock
Awards 
(6)
   
Compensation
Actually Paid
 
 
CEO (Davis)
    
 
      
 
      
 
      
 
      
 
      
 
      
 
      
 
      
 
 
2023
    $20,273,287       $651,163       $14,047,586       $271,130       $18,028,095       $(97,780)       $1,522,952       $1,402,391       $26,701,326  
2022
    18,650,093       180,259       12,393,581       280,085       26,824,642       14,171,478       3,931,065       1,190,712       52,474,235  
2021
    13,722,121       235,640       9,084,579       265,823       10,649,030       (669,339     (661,118     404,596       14,390,893  
 
CEO (Frazier)
    
 
      
 
      
 
      
 
      
 
      
 
      
 
      
 
      
 
 
2021
    15,196,920             10,615,096       418,183       12,443,073       (2,633,787     (2,435,189     954,819       13,328,924  
2020
    22,088,429       2,288,641       15,502,597       379,037       17,150,711       (5,340,113     (7,290,425     1,382,086       10,578,487  
 
Average
Non-CEO
NEOs
      
 
      
 
      
 
      
 
      
 
      
 
 
2023
    7,629,512       479,834       4,253,332       152,186       5,458,528       (43,471     475,952       421,122       9,360,664  
2022
    8,406,647       42,041       5,514,804       122,447       9,133,936       6,336,440       3,346,846       552,343       22,341,814  
2021
    6,709,905       107,732       4,261,734       122,147       4,829,729       (247,588     (208,749     168,972       7,004,950  
2020
    6,041,722       498,315       3,518,845       157,683       3,892,938       (1,222,908     (1,583,911     314,391       3,582,756  
(1)
Represents the aggregate change in actuarial present value of the NEOs’ accrued benefits under the Company’s pension plans. The change in pension value for Mr. Frazier is negative in 2021, primarily due to age and an increase in discount rates. In accordance with SEC rules, a $0 value is reported rather than a negative amount.
(2)
These amounts represent the present value of expected pension benefit accruals earned in the current year and reflects assumptions used for financial statement reporting purposes. They do not reflect the change in the present value of the accumulated pension benefit due to changes in assumptions such as discount rate from year to year.
(3)
These amounts represent the fair value as of the indicated fiscal
year-end
of the outstanding and unvested stock and option awards granted during such fiscal year, calculated in accordance with the methodology used for financial reporting purposes. The fair value differs from the value in the SCT because for purposes of CAP the fair value for equity granted in the current year is determined as of the last day of the applicable year. Fair values in the SCT are determined as of the grant date.
(4)
These amounts represent the change in fair value during the indicated fiscal year of each stock and option award that was granted in a prior fiscal year and that remained outstanding and unvested as of the last day of the indicated fiscal year, calculated in accordance with the methodology used for financial reporting purposes and, for awards subject to performance-based vesting conditions, based on an estimate of the probable outcome of such performance-based vesting conditions as of the last day of the fiscal year.
(5)
These amounts represent the change in fair value, measured from the prior fiscal
year-end
to the vesting date, of each stock and option award that was granted in a prior fiscal year and which vested during the indicated fiscal year, calculated in accordance with the methodology used for financial reporting purposes.
(6)
These amounts represent the dollar value of any dividends or other earnings accrued or paid on stock or option awards in the applicable fiscal year or for awards that vested in the fiscal year, prior to the vesting date, that are not otherwise reflected in the fair value of such awards or included in any
other
component of total compensation for the applicable fiscal year.
* Compensation shown is rounded to the nearest dollar.
 
     
Compensation Actually Paid vs. Total Shareholder Return    
Relationship Between CAP and TSR
The chart below illustrates the relationship between the CEO CAP and average
non-CEO
NEO CAP, calculated in accordance with the PVP rules, and Merck’s TSR and Peer Group TSR. As noted above, the peer group for each listed fiscal year consists of the companies listed as our current primary peer group. For 2021, the CAP for Mr. Davis and Mr. Frazier are shown separately as CEO CAP since both executives served as CEO for a portion of the year. In 2022, Mr. Davis served as CEO for the entire year, and Mr. Frazier served as Executive Chairman until his retirement on November 30, 2022. As such, Mr. Frazier’s 2022 CAP is included in the average
non-CEO
NEO CAP. To better reflect the CAP for the average
non-CEO
NEO, for 2022, we have illustrated both the average
non-CEO
NEO CAP with and without Mr. Frazier.
 
 
LOGO
     
Compensation Actually Paid vs. Net Income    
Relationship Between CAP and Net Income
The chart below illustrates the relationship between the CEO CAP and average
non-CEO
NEO CAP, calculated in accordance with the PVP rules, and Merck’s GAAP net income. For 2021, the CAP for Mr. Davis and Mr. Frazier are shown separately as CEO CAP since both executives served as CEO for a portion of the year. In 2022, Mr. Davis served as CEO for the entire year, and Mr. Frazier served as Executive Chairman until his retirement on November 30, 2022. As such, Mr. Frazier’s 2022 CAP is included in the average
non-CEO
NEO CAP. To better reflect the CAP for the average
non-CEO
NEO, for 2022, we have illustrated both the average
non-CEO
NEO CAP with and without Mr. Frazier. For 2023, GAAP net income reflects the impact of $17.1 billion in business development activity, including the acquisitions of Prometheus and Imago, and the collaborations with Daiichi and Kelun.
 
 
LOGO
     
Compensation Actually Paid vs. Company Selected Measure    
Relationship Between CAP and the Company-Selected Measure
The SEC requires the disclosure of a company-selected measure, defined as the most important financial metric used for determining CAP for the current fiscal year. For 2023, we consider
non-GAAP
EPS to be the most important financial measure used to link pay with performance because EPS represents 50% of our PSU program design, PSUs represent 70% of annual LTI grants, and LTI represents the majority of our executives’ target TDC. Specifically, for 2023,
non-GAAP
EPS influences nearly 27% of our CEO’s target TDC and 23% of the average target TDC for our
non-CEO
NEOs. It is worth noting that the SEC requires the disclosure of single year metrics for purposes of comparing CAP to a company-selected measure. While our PSU program design employs three-year
non-GAAP
EPS, in the graph below, CAP is being compared to one year
non-GAAP
EPS.
 
The chart below illustrates the relationship between the CEO CAP and average
non-CEO
NEO CAP, calculated in accordance with the PVP rules, and Merck’s
non-GAAP
EPS for the applicable reporting year. For 2021, the CAP for Mr. Davis and Mr. Frazier are shown separately as CEO CAP since both executives served as CEO for a portion of the year. In 2022, Mr. Davis served as CEO for the entire year, and Mr. Frazier served as Executive Chairman until his retirement on November 30, 2022. As such, Mr. Frazier’s 2022 CAP is included in the average
non-CEO
NEO CAP. To better reflect the CAP for the average
non-CEO
NEO, for 2022, we have illustrated both the average
non-CEO
NEO CAP with and without Mr. Frazier. For 2023,
non-GAAP
EPS was negatively affected by $6.21 of charges for certain upfront and
pre-approval
milestone payments related to collaborations and licensing agreements, as well as charges related to
pre-approval
assets obtained in transactions accounted for as asset acquisitions.
 
 
LOGO
     
Total Shareholder Return Vs Peer Group    
Relationship Between CAP and TSR
The chart below illustrates the relationship between the CEO CAP and average
non-CEO
NEO CAP, calculated in accordance with the PVP rules, and Merck’s TSR and Peer Group TSR. As noted above, the peer group for each listed fiscal year consists of the companies listed as our current primary peer group. For 2021, the CAP for Mr. Davis and Mr. Frazier are shown separately as CEO CAP since both executives served as CEO for a portion of the year. In 2022, Mr. Davis served as CEO for the entire year, and Mr. Frazier served as Executive Chairman until his retirement on November 30, 2022. As such, Mr. Frazier’s 2022 CAP is included in the average
non-CEO
NEO CAP. To better reflect the CAP for the average
non-CEO
NEO, for 2022, we have illustrated both the average
non-CEO
NEO CAP with and without Mr. Frazier.
 
 
LOGO
     
Tabular List, Table    
Most Important Metrics Used to Link Pay and Performance
In accordance with the PVP rules, the most important performance metrics used to link our NEOs’ pay to performance in 2023 are listed below. These metrics align with the measures used in our Company Scorecard, as described on page 55, and our PSU Program, as described on page 57. These metrics help translate our strategic priorities into operational terms that enable us to measure and track our progress against annual operating goals and long-term strategic drivers of sustainable value creation, aligning the pay of our executives to company performance. Although stock price performance, as reflected by our Total Shareholder Return (“TSR”), is not a metric used in our current programs to set or evaluate the level of pay for our executives and, therefore, is not included in the list below, it directly impacts the value of long-term incentives granted to our NEOs.
 
   
Company Scorecard Metrics
  
PSU Program Metrics
   
Revenue    Relative Total Shareholder Return
   
Pre-Tax
Income
  
Non-GAAP
Earnings Per Share (EPS)
   
Pipeline   
 
 
   
Sustainability   
 
 
     
Total Shareholder Return Amount     $ 142.53 141.12 94.47 92.79
Peer Group Total Shareholder Return Amount     142 138.11 130.44 106.53
Net Income (Loss)     $ 364,655,000 $ 14,519,000,000 $ 12,345,000,000 $ 4,519,000,000
Company Selected Measure Amount     1.51 7.48 5.37 2.97
Measure:: 1            
Pay vs Performance Disclosure            
Name     Revenue      
Measure:: 2            
Pay vs Performance Disclosure            
Name     Pre-Tax Income      
Measure:: 3            
Pay vs Performance Disclosure            
Name     Pipeline      
Measure:: 4            
Pay vs Performance Disclosure            
Name     Sustainability      
Measure:: 5            
Pay vs Performance Disclosure            
Name     Relative Total Shareholder Return      
Measure:: 6            
Pay vs Performance Disclosure            
Name     Non-GAAP Earnings Per Share (EPS)      
Non-GAAP Measure Description     The SEC requires the disclosure of a company selected measure, representing the most important financial metric used for determining CAP for the current fiscal year. As described in more detail on page 71, the selected measure for 2023 is
non-GAAP
EPS. Refer to Appendix A on page 104 for a reconciliation between GAAP and
non-GAAP
financial measures. Appendix B on page 106 provides an explanation of adjustments to
non-GAAP
results for incentive plans purposes.
     
Mr. Davis [Member]            
Pay vs Performance Disclosure            
PEO Total Compensation Amount     $ 20,273,287 $ 18,650,093 $ 13,722,121  
PEO Actually Paid Compensation Amount     $ 26,701,326 $ 52,474,235 14,390,893  
PEO Name Mr. Davis   Mr. Davis Mr. Davis    
Mr. Frazier [Member]            
Pay vs Performance Disclosure            
PEO Total Compensation Amount         15,196,920 $ 22,088,429
PEO Actually Paid Compensation Amount         13,328,924 $ 10,578,487
PEO Name   Mr. Frazier       Mr. Frazier
PEO | Mr. Davis [Member] | Value of Pension Benefits Deducted From SCT [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     $ 651,163 $ 180,259 235,640  
PEO | Mr. Davis [Member] | Value of Equity Deducted From SCT [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     14,047,586 12,393,581 9,084,579  
PEO | Mr. Davis [Member] | Value of Pension Benefits Per CAP Definition [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     271,130 280,085 265,823  
PEO | Mr. Davis [Member] | Fair Value of Equity Compensation Granted In Current Year [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     18,028,095 26,824,642 10,649,030  
PEO | Mr. Davis [Member] | YearOverYear Change In Fair Value of Unvested Equity [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     (97,780) 14,171,478 (669,339)  
PEO | Mr. Davis [Member] | Change In Fair Value of Equity that Vested During The Year [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     1,522,952 3,931,065 (661,118)  
PEO | Mr. Davis [Member] | Value Of Dividends Accrued or Paid on Stock Awards [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     1,402,391 1,190,712 404,596  
PEO | Mr. Frazier [Member] | Value of Pension Benefits Deducted From SCT [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount         0 $ 2,288,641
PEO | Mr. Frazier [Member] | Value of Equity Deducted From SCT [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount         10,615,096 15,502,597
PEO | Mr. Frazier [Member] | Value of Pension Benefits Per CAP Definition [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount         418,183 379,037
PEO | Mr. Frazier [Member] | Fair Value of Equity Compensation Granted In Current Year [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount         12,443,073 17,150,711
PEO | Mr. Frazier [Member] | YearOverYear Change In Fair Value of Unvested Equity [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount         (2,633,787) (5,340,113)
PEO | Mr. Frazier [Member] | Change In Fair Value of Equity that Vested During The Year [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount         (2,435,189) (7,290,425)
PEO | Mr. Frazier [Member] | Value Of Dividends Accrued or Paid on Stock Awards [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount         954,819 1,382,086
Non-PEO NEO | Value of Pension Benefits Deducted From SCT [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     479,834 42,041 107,732 498,315
Non-PEO NEO | Value of Equity Deducted From SCT [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     4,253,332 5,514,804 4,261,734 3,518,845
Non-PEO NEO | Value of Pension Benefits Per CAP Definition [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     152,186 122,447 122,147 157,683
Non-PEO NEO | Fair Value of Equity Compensation Granted In Current Year [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     5,458,528 9,133,936 4,829,729 3,892,938
Non-PEO NEO | YearOverYear Change In Fair Value of Unvested Equity [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     (43,471) 6,336,440 (247,588) (1,222,908)
Non-PEO NEO | Change In Fair Value of Equity that Vested During The Year [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     475,952 3,346,846 (208,749) (1,583,911)
Non-PEO NEO | Value Of Dividends Accrued or Paid on Stock Awards [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     $ 421,122 $ 552,343 $ 168,972 $ 314,391