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Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Schedule of Fair Value of Each Stock Option Award is Estimated on Grant Date, Using Option Valuation Models

The expected dividend yield is estimated based on the assumption that the dividend yield at date of grant will be maintained over the expected life of the grant.

		2022				2021				2020
Risk-free interest rate			1.64	%			0.68	%			1.44	%
Expected volatility			34	%			36	%			27	%
Expected life, in years			5.11				6.17				6.15
Expected dividend yield			0.95	%			1.10	%			1.19	%

Schedule of Stock Appreciation Rights Activity

Information regarding Time SARs and Performance SARs activity during 2022, 2021 and 2020 is summarized below (share amounts in thousands):

		Time SARs				Performance SARs				Total SARs				Weighted Average Exercise Price				Weighted Average Remaining Contractual Term				Aggregate Intrinsic Value (dollars in millions)
SARs outstanding, December 31, 2019			9,050				2,144				11,194			$	71.79
Granted			1,120				—				1,120				144.47
Exercised			(2,159	)			(1,325	)			(3,484	)			44.07
Cancelled			(175	)			—				(175	)			111.69
SARs outstanding, December 31, 2020			7,836				819				8,655				91.53
Granted			877				—				877				174.98
Exercised			(2,443	)			(533	)			(2,976	)			67.57
Cancelled			(108	)			—				(108	)			138.32
SARs outstanding, December 31, 2021			6,162				286				6,448				113.15
Granted			570				—				570				236.00
Exercised			(660	)			(159	)			(819	)			90.84
Cancelled			(112	)			—				(112	)			182.87
SARs outstanding, December 31, 2022			5,960				127				6,087			$	126.38				5.7 years			$	691
SARs exercisable, December 31, 2022			4,022				127				4,149			$	102.20				4.7 years			$	572

Schedule of Restricted Stock Units Activity

Information regarding RSUs and PSUs activity during 2022, 2021 and 2020 is summarized below (share amounts in thousands):

		RSUs				PSUs				Total RSUs   and PSUs				Weighted Average Grant   Date Fair   Value
RSUs and PSUs outstanding, December 31, 2019			2,620				3,035				5,655			$	105.23
Granted			1,048				808				1,856				144.17
Performance adjustment			—				206				206				81.89
Vested			(1,030	)			(1,364	)			(2,394	)			88.63
Cancelled			(162	)			(93	)			(255	)			124.50
RSUs and PSUs outstanding, December 31, 2020			2,476				2,592				5,068				125.40
Granted			899				689				1,588				174.34
Performance adjustment			—				684				684				102.02
Vested			(992	)			(1,772	)			(2,764	)			106.62
Cancelled			(192	)			(110	)			(302	)			149.07
RSUs and PSUs outstanding, December 31, 2021			2,191				2,083				4,274				150.32
Granted			611				455				1,066				235.71
Performance adjustment			—				699				699				138.45
Vested			(878	)			(1,399	)			(2,277	)			138.41
Cancelled			(140	)			(123	)			(263	)			183.86
RSUs and PSUs outstanding, December 31, 2022			1,784				1,715				3,499			$	179.18

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Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(1)
-URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901

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- Definition

Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for stock appreciation rights awards that were outstanding at the beginning and end of the year, and the number of stock appreciation rights awards that were granted, exercised or converted, forfeited, and expired during the year.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(1)
-URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901

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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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-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (f)(2)
-URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901

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