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STOCK-BASED COMPENSATION PLANS (Tables) | 12 Months Ended
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Dec. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Stock-Based Compensation Cost and Associated Tax Benefit | Presented below is a summary of the stock-based compensation expense and associated tax benefit in the accompanying consolidated statements of operations:
| Year Ended December 31, |
| 2024 |  | 2023 |  | 2022 |
Stock-based compensation expense | $ | 221 |  |  | $ | 193 |  |  | $ | 169 |  |
Tax benefit | $ | 48 |  |  | $ | 45 |  |  | $ | 41 |  |
Weighted Average Assumptions used in Determining Fair Value for Options Granted | The following weighted average assumptions were used for options granted:
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Expected dividend yield | 0.91 | % |  | 1.04 | % |  | 0.86 | %
Expected stock volatility | 28 | % |  | 29 | % |  | 27 | %
Risk-free interest rate | 4.34 | % |  | 4.19 | % |  | 1.91 | %
Expected holding period (in years) | 5.9 |  | 5.8 |  | 5.6
Grant date fair value | $ | 120.42 |  |  | $ | 94.71 |  |  | $ | 84.00 |
Share-based Payment Arrangement, Option and Stock Appreciation Rights, Activity | A summary of option activity as of December 31, 2024 and changes during the year then ended is presented below:
Options |  | Shares |  | Weighted Average Exercise Price Per Share |  | Weighted Average Remaining Contractual Term |  | Aggregate Intrinsic Value
Outstanding, December 31, 2023 |  | 0.8 |  |  | $ | 212.29 |  |  |  |  |
Granted |  | 0.2 |  |  | $ | 372.52 |  |  |  |  |
Exercised |  | (0.3) |  |  | $ | 173.64 |  |  |  |  |
Outstanding, December 31, 2024 |  | 0.7 |  |  | $ | 267.64 |  |  | 5.9 years |  | $ | 140 |
Vested and expected to vest, December 31, 2024 |  | 0.7 |  |  | $ | 267.26 |  |  | 5.9 years |  | $ | 139 |
Exercisable, December 31, 2024 |  | 0.4 |  |  | $ | 207.94 |  |  | 4.0 years |  | $ | 99 |
Stock Option Exercises and Restricted Stock Vesting | The following table summarizes information relating to stock option exercises:
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Proceeds from stock option exercises | $ | 53 |  |  | $ | 32 |  |  | $ | 8 |
Aggregate intrinsic value | $ | 76 |  |  | $ | 58 |  |  | $ | 9 |
Tax benefit realized upon exercise | $ | 13 |  |  | $ | 14 |  |  | $ | 2 |
Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity | A summary of nonvested restricted stock activity for the year ended December 31, 2024 is presented below:
Nonvested Restricted Stock |  | Shares |  | Weighted Average Grant Date Fair Value Per Share
Balance, December 31, 2023 |  | 1.3 |  |  | $ | 300.39 |
Granted |  | 0.6 |  |  | $ | 373.54 |
Vested |  | (0.5) |  |  | $ | 300.20 |
Forfeited |  | (0.1) |  |  | $ | 327.53 |
Balance, December 31, 2024 |  | 1.3 |  |  | $ | 330.84 |
A summary of performance-based restricted stock activity for the year ended December 31, 2024 is presented below:
Performance-based restricted stock |  | Shares |  | Weighted Average Grant Date Fair Value Per Share
Balance, December 31, 2023 |  | 0.3 |  |  | $ | 308.12 |
Granted |  | 0.1 |  |  | $ | 354.67 |
Vested |  | (0.1) |  |  | $ | 331.60 |
Balance, December 31, 2024 |  | 0.3 |  |  | $ | 330.78 |
Share-based Compensation Arrangements by Share-based Payment Award, Restricted Stock Units, Vested and Expected to Vest | The following table summarizes information relating to the vesting of restricted stock awards:
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Fair value of shares vested | $ | 199 |  |  | $ | 164 |  |  | $ | 180 |
Tax benefit realized upon vesting | $ | 48 |  |  | $ | 40 |  |  | $ | 42 |
The following table summarizes information relating to the vesting of the Company’s performance-based restricted stock awards:
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Fair value of shares vested | $ | 40 |  |  | $ | 24 |  |  | $ | 50 |
Tax benefit realized upon vesting | $ | 9 |  |  | $ | 3 |  |  | $ | 7 |

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- Definition Tabular disclosure of number, weighted-average exercise price or conversion ratio, aggregate intrinsic value, and weighted-average remaining contractual term for outstanding restricted stock units that are fully vested and expected to vest. Includes, but is not limited to, unvested restricted stock units for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (e)(1) -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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- Definition Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for stock options and stock appreciation rights that were outstanding at the beginning and end of the year, exercisable at the end of the year, and the number of stock options and stock appreciation rights 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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