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Stock Plans
 3 Months Ended
Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Stock Plans
Note 11. Stock Plans

Stock Options
Stock option activity is reflected below:
 Shares Subject
to Option		Weighted-
Average
Exercise or
Grant Price
Per Share		Average
Remaining
Contractual
Term		Aggregate
Intrinsic
Value
Balance at January 1, 202418,678,120 $49.965 years$420  million
Annual grant to eligible employees2,261,810 73.13
Total options granted2,261,810 73.13
Options exercised (1)
(1,866,312)42.39$59  million
Options canceled(118,999)52.53
Balance at March 31, 202418,954,619 53.466 years$321  million

(1)Cash received from options exercised was $79 million in the three months ended March 31, 2024. The actual tax benefit realized and recorded in the provision for income taxes for the tax deductions from the option exercises totaled $10 million in the three months ended March 31, 2024.

Performance Share Units and Other Stock-Based Awards
Our performance share unit (PSU), deferred stock unit (DSU) and other stock-based activity is reflected below:
Number
of Shares		Grant Date
Weighted-Average
Fair Value
Per Share (4)
Weighted-Average
Aggregate
Fair Value (3)
Balance at January 1, 20244,553,166 $62.53
Annual grant to eligible employees:Feb 27, 2024
Performance share units787,110 75.05
Deferred stock units571,490 73.13
Additional shares granted (1)
916,501 Various62.62
Total shares granted2,275,101 69.56$158  million
Vested (2) (3)
(1,946,086)58.58$114  million
Forfeited (2)
(82,258)63.66
Balance at March 31, 20244,799,923 67.44

(1)Includes PSUs and DSUs.
(2)Includes PSUs, DSUs and other stock-based awards.
(3)The actual tax benefit realized and recorded in the provision for income taxes for the tax deductions from the shares vested totaled $7 million in the three months ended March 31, 2024.
(4)The grant date fair value of PSUs is determined based on the Monte Carlo simulation model for the market-based total shareholder return component and the closing market price of the Company’s stock on the grant date for performance-based components. The Monte Carlo simulation model incorporates the probability of achieving the total shareholder return market condition. Compensation expense is recognized using the grant date fair values regardless of whether the market condition is achieved, so long as the requisite service has been provided.

Share Repurchase Program
Effective January 1, 2023, our Board of Directors approved a program authorizing the repurchase of $6.0 billion of our Common Stock through December 31, 2025. During the year ended December 31, 2023, we repurchased approximately $1.6 billion of Common Stock pursuant to this authorization. Repurchases under the program are determined by management and are wholly discretionary.

During the three months ended March 31, 2024, we repurchased approximately 7.7 million shares of Common Stock at an average cost of $72.99 per share, or an aggregate cost of approximately $563 million, all of which was paid during the period except for approximately $15 million settled in April 2024. All share repurchases were funded through available cash and commercial paper issuances. As of March 31, 2024, we have approximately $3.9 billion in remaining share repurchase capacity.