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Stock Options and Other Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Fair Market Values of Stock Options and Stock Appreciation Rights Granted

The fair market values of stock options and stock appreciation rights granted in 2024, 2023 and 2022 were measured on the date of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions:

			Year ended December 31
			2024									2023						2022
Expected term in years1			6.5									6.4						6.9
Volatility2			33.0			%						32.5			%			31.3			%
Risk-free interest rate based on zero coupon U.S. treasury note			3.98			%						3.43			%			1.79			%
Dividend yield			4.1			%						3.5			%			5.0			%
Weighted-average fair value per option granted			$	38.00								$	45.82					$	23.56

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.

Schedule of Option Activity

A summary of option activity during 2024 is presented below:

			Shares (Thousands)			Weighted-Average  Exercise Price									Averaged Remaining Contractual Term (Years)			Aggregate Intrinsic Value
Outstanding at January 1, 2024			24,375						$	118.72
Granted			2,730						$	152.35
Exercised			(3,504)						$	101.60
Forfeited			(433)						$	260.55
Outstanding at December 31, 2024			23,168						$	122.62					5.06						$	687
Exercisable at December 31, 2024			18,372						$	114.15					4.15						$	675

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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.

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-Topic 718
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-Name Accounting Standards Codification
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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.

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