XML 82 R57.htm IDEA: XBRL DOCUMENT
v3.22.4

Stock Options and Other Share-Based Compensation (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract] |
Fair market values of stock options and stock appreciation rights granted | The fair market values of stock options and stock appreciation rights granted in 2022, 2021 and 2020 were measured on the date of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions:
| Year ended December 31
| 2022 |  |  | 2021 |  | 2020 |
Expected term in years 1 | 6.9 |  |  | 6.8 |  | 6.6 |
Volatility 2 | 31.3 |  | % |  | 31.1 |  | % | 20.8 |  | %
Risk-free interest rate based on zero coupon U.S. treasury note | 1.79 |  | % |  | 0.71 |  | % | 1.50 |  | %
Dividend yield | 5.0 |  | % |  | 6.0 |  | % | 4.0 |  | %
Weighted-average fair value per option granted | $ | 23.56 |  |  |  | $ | 12.22 |  |  | $ | 13.00 |  |
1 Expected term is based on historical exercise and post-vesting cancellation data. 2 Volatility rate is based on historical stock prices over an appropriate period, generally equal to the expected term.
Summary of option activity | A summary of option activity during 2022 is presented below:
| Shares (Thousands) | Weighted-Average Exercise Price |  | Averaged Remaining Contractual Term (Years) | Aggregate Intrinsic Value
Outstanding at January 1, 2022 | 77,399 |  |  | $ | 108.10 |  |  |  |  |
Granted | 3,870 |  |  | $ | 132.69 |  |  |  |  |
Exercised | (55,275) |  |  | $ | 105.56 |  |  |  |  |
Forfeited | (729) |  |  | $ | 208.46 |  |  |  |  |
Outstanding at December 31, 2022 | 25,265 |  |  | $ | 114.61 |  |  | 6.62 |  | $ | 1,794 |
Exercisable at December 31, 2022 | 16,421 |  |  | $ | 117.20 |  |  | 5.18 |  | $ | 1,178 |

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of activity for award under share-based payment arrangement. Includes, but is not limited to, outstanding award at beginning and end of year, granted, exercised, forfeited, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration