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Stock Options and Other Stock Plans (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Stock Based Compensation Expense

Information regarding stock-based compensation expense appears in the table below:

Millions			2024			2023			2022
Stock-based compensation, before tax:
Stock options			$	18		$	16		$	14
Retention awards			77			71			68
ESPP			23			20			17
Total stock-based compensation, before tax			$	118		$	107		$	99
Excess income tax benefits from equity compensation plans			$	15		$	11		$	21

Schedule of Annual Weighted Average Assumptions

The table below shows the annual weighted-average assumptions used for Black-Scholes valuation purposes:

Weighted-Average Assumptions			2024			2023			2022
Risk-free interest rate			4.2		%	3.9		%	1.6		%
Dividend yield			2.1		%	2.6		%	1.9		%
Expected life (years)			4.4			4.5			4.4
Volatility			28.7		%	29.3		%	28.7		%
Weighted-average grant-date fair value of options granted			$	61.75		$	48.31		$	51.92

Schedule of Stock Option Activity

A summary of stock option activity during 2024 is presented below:

			Options (thous.)			Weighted-Average Exercise Price			Weighted-Average Remaining Contractual Term (yrs.)			Aggregate Intrinsic Value (millions)
Outstanding at January 1, 2024			2,072			$	180.56		5.9			$	135
Granted			305			248.82			N/A			N/A
Exercised			(347)			146.25			N/A			N/A
Forfeited or expired			(49)			231.93			N/A			N/A
Outstanding at December 31, 2024			1,981			$	195.81		5.8			$	74
Vested or expected to vest at December 31, 2024			1,964			$	195.51		5.8			$	74
Options exercisable at December 31, 2024			1,392			$	180.71		4.7			$	69

Schedule of Additional Information Regarding Stock Option Exercises

Additional information regarding stock option exercises appears in the following table:

Millions			2024			2023			2022
Intrinsic value of stock options exercised			$	35		$	23		$	53
Cash received from option exercises			46			27			27
Treasury shares repurchased for employee payroll taxes			(8)			(5)			(8)
Income tax benefit realized from option exercises			7			5			8
Aggregate grant-date fair value of stock options vested			$	15		$	14		$	13

Schedule of Changes in Retention Awards

Changes in our retention awards during 2024 were as follows:

			Shares (thous.)			Weighted-Average Grant-Date Fair Value
Nonvested at January 1, 2024			996			$	207.76
Granted			213			248.66
Vested			(252)			186.86
Forfeited			(42)			219.41
Nonvested at December 31, 2024			915			$	222.50

Schedule of Changes in Performance Stock Unit Awards

Changes in our performance stock unit awards during 2024 were as follows:

			Shares (thous.)			Weighted-Average Grant-Date Fair Value
Nonvested at January 1, 2024			617			$	204.50
Granted			227			248.82
Vested			(119)			204.67
Unearned			(70)			204.45
Forfeited			(48)			229.39
Nonvested at December 31, 2024			607			$	219.08

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