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Share-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2024
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.
|  | 2024 |  |  | 2023 |  |  | 2022 |
Risk-free interest rate |  |  | 3.94 | % |  |  | 3.69 | % |  |  | 1.64 | %
Expected volatility |  |  | 33 | % |  |  | 36 | % |  |  | 34 | %
Expected life, in years |  |  | 5.23 |  |  |  | 5.14 |  |  |  | 5.11 |
Expected dividend yield |  |  | 0.87 | % |  |  | 0.95 | % |  |  | 0.95 | %
Schedule of Stock Appreciation Rights Activity | Information regarding Time SAR and Performance SAR activity during 2024, 2023 and 2022 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, 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 |  |  |  |  |  |
Granted |  |  | 580 |  |  |  | — |  |  |  | 580 |  |  |  | 253.49 |  |  |  |  |  |
Exercised |  |  | (1,156 | ) |  |  | (83 | ) |  |  | (1,239 | ) |  |  | 95.29 |  |  |  |  |  |
Cancelled |  |  | (59 | ) |  |  | — |  |  |  | (59 | ) |  |  | 202.05 |  |  |  |  |  |
SARs outstanding, December 31, 2023 |  |  | 5,325 |  |  |  | 44 |  |  |  | 5,369 |  |  |  | 146.46 |  |  |  |  |  |
Granted |  |  | 491 |  |  |  | — |  |  |  | 491 |  |  |  | 305.44 |  |  |  |  |  |
Exercised |  |  | (1,128 | ) |  |  | (44 | ) |  |  | (1,172 | ) |  |  | 111.02 |  |  |  |  |  |
Cancelled |  |  | (101 | ) |  |  | — |  |  |  | (101 | ) |  |  | 246.78 |  |  |  |  |  |
SARs outstanding, December 31, 2024 |  |  | 4,587 |  |  |  | — |  |  |  | 4,587 |  |  | $ | 170.31 |  |  | 5.3 years |  | $ | 598 |
SARs exercisable, December 31, 2024 |  |  | 3,322 |  |  |  | — |  |  |  | 3,322 |  |  | $ | 136.86 |  |  | 4.3 years |  | $ | 542 |
Schedule of Restricted Stock Units Activity | Information regarding RSU and PSU activity during 2024, 2023 and 2022 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, 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 |
Granted |  |  | 609 |  |  |  | 479 |  |  |  | 1,088 |  |  |  | 253.85 |
Performance adjustment |  |  | — |  |  |  | 697 |  |  |  | 697 |  |  |  | 144.42 |
Vested |  |  | (717 | ) |  |  | (1,393 | ) |  |  | (2,110 | ) |  |  | 152.50 |
Cancelled |  |  | (125 | ) |  |  | (88 | ) |  |  | (213 | ) |  |  | 217.78 |
RSUs and PSUs outstanding, December 31, 2023 |  |  | 1,551 |  |  |  | 1,410 |  |  |  | 2,961 |  |  |  | 214.71 |
Granted |  |  | 582 |  |  |  | 434 |  |  |  | 1,016 |  |  |  | 305.97 |
Performance adjustment |  |  | — |  |  |  | 566 |  |  |  | 566 |  |  |  | 174.55 |
Vested |  |  | (639 | ) |  |  | (1,132 | ) |  |  | (1,771 | ) |  |  | 181.81 |
Cancelled |  |  | (138 | ) |  |  | (103 | ) |  |  | (241 | ) |  |  | 260.96 |
RSUs and PSUs outstanding, December 31, 2024 |  |  | 1,356 |  |  |  | 1,175 |  |  |  | 2,531 |  |  | $ | 260.95 |

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- Definition 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 -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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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 -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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