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Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2021
Share-based Payment Arrangement [Abstract]  
Weighted-Average Assumptions Used for Estimating the Fair Value of Option Rights
The fair value of the Company’s option rights was estimated at the date of grant using a Black-Scholes-Merton option-pricing model with the following weighted-average assumptions for all options granted:
202120202019
Risk-free interest rate1.11 %.39 %1.64 %
Expected life of option rights5.05 years5.05 years5.05 years
Expected dividend yield of stock.75 %.88 %.87 %
Expected volatility of stock26.8 %26.7 %23.2 %
Summary of Non-Qualified and Incentive Stock Option Right Activity
A summary of the Company’s non-qualified and incentive stock option right activity is shown in the following table:
 202120202019
 Optioned
Shares		Weighted-
Average
Exercise
Price
Per Share		Aggregate
Intrinsic
Value
(in millions)		Optioned
Shares		Weighted-
Average
Exercise
Price
Per Share		Aggregate
Intrinsic
Value
(in millions)		Optioned
Shares		Weighted-
Average
Exercise
Price
Per Share		Aggregate
Intrinsic
Value
(in millions)
Outstanding at
beginning of year
10,503,378 $120.34 12,119,187 $96.82 13,455,747 $79.51 
Granted972,575 292.15 1,373,793 213.39 1,496,658 183.11 
Exercised(2,362,173)82.50 (2,872,836)63.63 (2,706,498)57.12 
Forfeited(124,967)195.90 (113,715)170.80 (120,936)126.71 
Expired(5,878)141.27 (3,051)139.55 (5,784)115.23 
Outstanding at
end of year
8,982,935 $147.83 $1,835.5 10,503,378 $120.34 $1,309.1 12,119,187 $96.82 $1,184.0 
Exercisable at
end of year
6,713,727 $116.32 $1,583.4 7,681,440 $95.07 $1,151.5 8,920,968 $75.50 $1,061.7 
Summary of RSU Activity
A summary of the Company’s RSU activity for the years ended December 31 is shown in the following table:
202120202019
Outstanding at beginning of year625,383 744,516 871,206 
Granted 196,526 287,919 393,825 
Vested(276,948)(386,685)(506,190)
Forfeited(34,281)(20,367)(14,325)
Outstanding at end of year510,680  625,383 744,516