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Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Stock-based compensation expense

We measure the cost of all share-based payments, including stock options and stock appreciation rights, at fair value on the grant date and recognize this cost in the Consolidated Statement of Operations, net of expected forfeitures, as follows:

(dollars in millions)			2024						2023						2022
Total compensation cost recognized			$	437					$	425					$	420

Schedule of Stock Options Roll Forward

A summary of the transactions under our long-term incentive plans for the year ended December 31, 2024 follows.

			Stock Options												Stock Appreciation Rights												Performance Share Units												Restricted Stock and RSUs
(shares and units in thousands)			Shares						Average Price (1)						Shares						Average Price (1)						Units						Average Price (2)						Units						Average Price (2)
Outstanding at:
December 31, 2023			1,461						$	81.72					31,155						$	82.36					3,001						$	87.33					9,730						$	86.53
Granted (3)			117						91.04						2,993						91.03						1,535						83.67						3,761						91.95
Exercised / earned (3)			(322)						79.37						(8,089)						79.62						(1,762)						71.69						(4,166)						74.18
Cancelled			(1)						83.58						(313)						90.12						(73)						94.58						(422)						90.08
December 31, 2024			1,255						$	83.18					25,746						$	84.13					2,701						$	95.26					8,903						$	94.32

(1)    Weighted-average exercise price per share.

(2)    Weighted-average grant date fair value per share.

(3)    Performance Share Units includes an adjustment for actual performance achieved on the 2021 award of 513 thousand units.

Disclosure Of Share Based Compensation Arrangements By Share Based Payment Award Text Block

The following table summarizes information about equity awards outstanding that are vested and expected to vest as well as equity awards outstanding that are exercisable at December 31, 2024:

						Equity Awards Vested and Expected to Vest																								Equity Awards That Are Exercisable
(shares in thousands; aggregate intrinsic value in millions)						Awards						Average Price						Aggregate Intrinsic Value						Remaining Term (3)						Awards						Average Price						Aggregate Intrinsic Value						Remaining Term (3)
Stock Options (1)						1,252						$	83.16					$	41					4.9						970						$	80.04					$	35					3.93
Stock Appreciation Rights (1)						25,624						84.09						811						5.32						18,325						80.22						650						4.19
Performance Share Units (2)						2,659						95.28						308						1.14
Restricted Stock and RSUs (2)						8,581						94.35						993						1.58

(1)    Average Price is weighted-average exercise price per share.

(2)    Average Price is weighted-average grant date fair value per share.

(3)    Weighted-average contractual remaining term in years.

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

Lattice-based option models incorporate ranges of assumptions for inputs; those ranges are as follows:

						2024						2023						2022
Expected volatility						24.7%						26.2%						27.9%
Weighted-average volatility						25		%				26		%				28		%
Expected term (in years)						6.9						6.7						6.5
Expected dividend yield						2.6		%				2.3		%				2.2		%
Risk-free rate						4.1% - 5.4%						3.6% - 4.8%						0.02% - 2.1%

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Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

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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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