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STOCK-BASED COMPENSATION (Tables) | 9 Months Ended
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Sep. 30, 2024
Share-Based Payment Arrangement, Noncash Expense [Abstract] |
Stock-Based Compensation Cost and Associated Tax Benefit | Presented below is a summary of the stock-based compensation cost and associated tax benefit included in the accompanying consolidated statements of operations:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Stock-based compensation cost | $ | 57 |  |  | $ | 46 |  |  | $ | 166 |  |  | $ | 143 |
Tax benefit | $ | 12 |  |  | $ | 10 |  |  | $ | 36 |  |  | $ | 32 |
Weighted Average Assumptions used in Determining Fair Value for Options Granted | The following weighted average assumptions were used in determining the fair value using the Black-Scholes option-pricing model for options granted in 2024:
Expected dividend yield | 0.91 | %
Expected stock volatility | 28 | %
Risk-free interest rate | 4.34 | %
Expected holding period | 5.9 years
Stock Option Exercises and Restricted Stock Vesting | The following table summarizes information relating to stock option exercises and restricted stock vesting:
| Nine Months Ended September 30,
| 2024 |  | 2023
Exercise of stock options: |  |  |
Proceeds from stock option exercises | $ | 44 |  |  | $ | 26 |
Aggregate intrinsic value | $ | 60 |  |  | $ | 48 |
Tax benefit realized upon exercise | $ | 10 |  |  | $ | 11 |
Number of shares exercised | 0.3 |  |  | 0.2 |
Vesting of restricted stock: |  |  |
Fair value of shares vested | $ | 183 |  |  | $ | 154 |
Tax benefit realized upon vesting | $ | 45 |  |  | $ | 36 |
Number of shares vested | 0.5 |  |  | 0.5 |
Vesting of performance-based restricted stock: |  |  |
Fair value of shares vested | $ | 40 |  |  | $ | 24 |
Tax benefit realized upon vesting | $ | 9 |  |  | $ | 3 |
Number of shares vested | 0.1 |  |  | 0.1 |

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- Definition Tabular disclosure of share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -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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