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Share-based Compensation (Tables)

12 Months Ended

Dec. 31, 2022

Share-based Payment Arrangement [Abstract]

Share-based Compensation Expense and Effect on Diluted Earnings Per Common Share

Share-based compensation expense and the effect on diluted earnings per common share were as follows:

In millions, except per share data			2022						2021						2020
Share-based compensation expense			$	166.7					$	139.2					$	92.4
After tax			$	145.9					$	120.4					$	78.3
Earnings per common share-diluted			$	0.20					$	0.16					$	0.10

Weighted Average Assumptions

Weighted-average assumptions

			2022			2021			2020
Expected dividend yield			2.2		%	2.4		%	2.3		%
Expected stock price volatility			21.3		%	21.8		%	19.1		%
Risk-free interest rate			1.9		%	0.7		%	1.4		%
Expected life of options (in years)			5.7			5.7			5.7
Fair value per option granted			$	42.12		$	30.91		$	29.40

Summary of Status and Changes of Stock Option Grants

A summary of the status of the Company’s stock option grants as of December 31, 2022, 2021 and 2020, and changes during the years then ended, is presented in the following table:

			2022																														2021															2020
Options			Shares in millions						Weighted- average exercise price									Weighted- average remaining contractual life in years						Aggregate intrinsic value in millions									Shares in millions						Weighted- average exercise price									Shares in millions						Weighted- average exercise price
Outstanding at beginning of year			12.0									$	156.13																				13.4									$	139.44					14.6									$	124.21
Granted			1.6									252.97																					2.1									215.73						1.8									214.18
Exercised			(1.9)									128.08																					(2.4)									115.29						(2.8)									104.58
Forfeited/expired			(0.3)									225.93																					(1.1)									160.50						(0.2)									184.69
Outstanding at end of year			11.4									$	172.27					5.6									$	1,041.6					12.0									$	156.13					13.4									$	139.44
Exercisable at end of year			7.7									$	145.87					4.4									$	904.2					7.8															8.8

Summary of RSU Activity

A summary of the Company’s RSU activity during the years ended December 31, 2022, 2021 and 2020 is presented in the following table:

			2022															2021															2020
RSUs			Shares in millions						Weighted- average grant date fair value									Shares in millions						Weighted- average grant date fair value									Shares in millions						Weighted- average grant date fair value
Nonvested at beginning of year			1.3									$	197.10					1.3									$	176.81					1.4									$	150.95
Granted			0.5									242.82						0.6									206.92						0.6									201.92
Vested			(0.4)									173.31						(0.4)									153.55						(0.6)									127.99
Forfeited			(0.2)									205.61						(0.2)									168.38						(0.1)									172.45
Nonvested at end of year			1.2									$	222.32					1.3									$	197.10					1.3									$	176.81

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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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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

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Tabular disclosure of the weighted average number of shares used in calculating basic net earnings per share (or unit) and diluted earnings per share (or unit).

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