v3.25.4

Stock Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2025

Share-Based Payment Arrangement [Abstract]

Schedule of Option Pricing Valuation Model for Options Granted

The assumptions used in the Black-Scholes option pricing valuation model for options granted by the Company in 2025, 2024 and 2023 are as follows:

						2025						2024						2023
Risk-free interest rate						4.36		%				4.31		%				4.11		%
Expected life (in years)						5.8						5.8						5.8
Expected volatility						20.87		%				20.96		%				22.59		%
Expected dividend yield						1.42		%				1.42		%				1.44		%

The assumptions used in the Monte Carlo simulation model for PSU awards granted with the TSR modifier by the Company in 2025 include:

						2025
Risk-Free Interest Rate						4.28		%
Volatility						18.87		%
Initial TSR						6.72		%

Schedule of Stock Option Awards

A summary of the status of the Company’s stock option awards at December 31, 2025 and changes during the year then ended are presented below:

						Shares						Weighted Average  Exercise Price						Weighted Average Remaining Contractual Term						Aggregate Intrinsic Value ($000)
Balance at January 1, 2025						5,610,653						$	126.64
Granted						611,699						$	230.29
Exercised						(1,511,663)						$	97.20
Forfeited						(47,437)						$	185.49
Balance at December 31, 2025						4,663,252						$	149.18					5.3 years						$	208,615
Options vested or expected to vest at December 31, 2025						4,625,651						$	148.83					5.3 years						$	208,211
Options exercisable at December 31, 2025						3,079,037						$	124.10					4.0 years						$	194,027

Schedule of Restricted Stock Units and Performance Stock Units

A summary of the status of the Company's RSU and PSU awards at December 31, 2025 and changes during the period then ended are presented below:

			Restricted Stock Units												Performance Stock Units
			Shares						Weighted Average Grant Date Fair Value						Shares						Weighted Average Grant Date Fair Value
Non-vested balance at January 1, 2025			3,456,722						$	179.66					513,273						$	178.19
Granted			1,558,267						$	229.89					152,312						$	253.23
Vested			(1,736,000)						$	171.32					(191,864)						$	151.15
Forfeited			(199,375)						$	202.02					(8,140)						$	210.76
Non-vested balance at December 31, 2025			3,079,614						$	208.33					465,581						$	213.32

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Tabular disclosure of the changes in outstanding nonvested restricted stock units.

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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 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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