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Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2025

Share-Based Payment Arrangement [Abstract]

Schedule of Type and Fair Value of Stock-Based Compensation Awards

The following table illustrates the type and fair value of the stock-based compensation awards granted during the three months ended March 31, 2025 and 2024, respectively:

			Three Months Ended March 31, 2025																		Three Months Ended March 31, 2024
			Shares Granted						Weighted-Average Fair Value Per Share						Weighted-Average Grant Date Stock Price						Shares Granted						Weighted-Average Fair Value Per Share						Weighted-Average Grant Date Stock Price
Stock options			280,013						$	105.92					$	332.04					296,295						$	104.27					$	338.65
RSUs			403,407						$	332.95					$	332.95					379,621						$	338.65					$	338.65
PRSUs			167,301						$	347.63					$	332.04					169,120						$	408.64					$	338.65

Schedule of Assumptions Used for Fair Value of Stock Options

The following table provides the assumptions used in determining the fair value of the stock-options granted in the three months ended March 31, 2025 and 2024, respectively:

			Grant Year
			2025						2024
Weighted-average dividend yield			2.13%						2.40%
Weighted-average volatility			30.5%						30.7%
Range of volatilities			26.6% - 32.6%						26.3% - 32.3%
Range of risk-free interest rates			4.13% - 4.40%						4.28% - 5.03%
Weighted-average expected lives			7 years						7 years

Schedule of Assumptions Used for Fair Value of PRSUs

The following table provides the assumptions used in determining the fair value of the PRSUs granted in the three months ended March 31, 2025 and 2024, respectively:

			Grant Year
			2025						2024
Expected volatility of the Company's stock			29.5%						29.8%
Risk-free interest rate			3.90%						4.38%

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Schedule of Share-Based Payment Award, Performance Restricted Stock Units, Valuation Assumptions

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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
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)
-Publisher FASB
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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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