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Equity-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2022

Equity-Based Compensation

Summary of RSUs

​

​	​	​	​	​	​
​	​	​	​	Weighted Average
​	​	​	​	Per Share
​		Units		Fair Value
Unvested as of January 1, 2022		343	​	$	114.28
Granted		162	​	$	147.74
Vested		(107)	​	$	100.11
Forfeited		(33)	​	$	136.43
Unvested as of December 31, 2022		365	​	$	131.26

​

Summary of PSUs

​

​	​	​	​	​	​
​		​		Weighted Average
​	​	​	​	Per Share
​		Units		Fair Value
Unvested as of January 1, 2022		968	​	$	129.60
Granted		290	​	$	168.49
Vested		(346)	​	$	116.26
Forfeited		(48)	​	$	147.79
Unvested as of December 31, 2022		864	​	$	147.00

​

Summary of Stock Options

​

​	​	​	​	​	​
​		​		Weighted Average
​	​	​	​	Per Share
​		Options		Exercise Price
Outstanding as of January 1, 2022		3,206	​	$	92.53
Granted		477	​	$	145.67
Exercised (a)		(675)	​	$	88.54
Forfeited or expired		(85)	​	$	124.31
Outstanding as of December 31, 2022 (b)		2,923	​	$	101.22
Exercisable as of December 31, 2022 (c)		1,762	​	$	83.34

(a) Includes approximately 141,000 stock options exercised pursuant to Rule 10b5-1 trading plans that provided for net share settlement, resulting in the Company withholding approximately 112,000 shares of our common stock to cover the associated stock option exercise price and taxes.

(b) Stock options outstanding as of December 31, 2022 have a weighted average remaining contractual term of 6.2 years and an aggregate intrinsic value of $163 million based on the market value of our common stock on December 31, 2022.

(c) Stock options exercisable as of December 31, 2022 have an aggregate intrinsic value of $130 million based on the market value of our common stock on December 31, 2022.

Summary of Exercisable Stock Options

​

​	​	​	​	​	​	​	​
​		​		Weighted Average			​
​	​	​	​	Per Share		​	Weighted Average
Range of Exercise Prices		Options		Exercise Price			Remaining Years
$36.88-$50.00		166	​	$	40.31		1.0
$50.01-$70.00		355	​	$	55.53		2.7
$70.01-$100.00		888	​	$	87.95		5.3
$100.01-$145.67		353	​	$	119.87		7.6
$36.88-$145.67		1,762	​	$	83.34		5.0

​

Weighted Average Assumptions Used to Value Employee Stock Options Granted

​

​	​	​	​	​	​	​	​	​	​
​		2022			2021			2020
Expected option life		4.7	years		4.7	years		4.6	years
Expected volatility		23.4	%		23.2	%		16.6	%
Expected dividend yield		1.8	%		2.1	%		1.7	%
Risk-free interest rate		1.6	%		0.6	%		1.4	%

​

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