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Shareholders' Equity | 9 Months Ended
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Sep. 30, 2025
Equity [Abstract] |
Shareholders' Equity | Note 11. Shareholders' Equity Stock Compensation 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, 2025 | 16,479,169 |  |  | $54.51 |  | 5 years |  | $ | 135 | million
Granted | 2,018,200 |  |  | 65.13 |  |  |  |
Exercised (1) | (2,039,161) |  |  | 42.53 |  |  |  | $ | 46 | million
Canceled | (376,116) |  |  | 67.23 |  |  |  |
Balance at September 30, 2025 | 16,082,092 |  |  | 57.06 |  | 5 years |  | $ | 123 | million
(1)Cash received from options exercised was $14 million and $85 million in the three and nine months ended September 30, 2025, respectively. The excess income tax benefit from stock option exercises was $2 million and $7 million in the three and nine months ended September 30, 2025, respectively. Performance Share Units and Other Stock-Based Awards Our performance share unit ("PSU") and deferred stock unit ("DSU") activity is reflected below:
| Number of Shares |  | Weighted-Average Fair Value Per Share (3) |  | Weighted-Average Aggregate Fair Value
Balance at January 1, 2025 | 4,536,574 |  |  | $67.76 |  |
Units granted: |  |  |  |  |
Performance share units (1) | 1,433,935 |  |  | 67.95 |  |
Deferred stock units | 1,427,061 |  |  | 63.21 |  |
Total units granted (1) | 2,860,996 |  |  | 65.59 |  | $ | 188 | million
Vested (1) (2) | (1,460,425) |  |  | 63.44 |  | $ | 93 | million
Forfeited | (430,005) |  |  | 69.48 |  |
Balance at September 30, 2025 | 5,507,140 |  |  | 67.64 |  |
(1)Includes incremental PSUs issued over target. (2)The income tax shortfall upon vesting of PSUs and DSUs was zero and $1 million in the three and nine months ended September 30, 2025, respectively. (3)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, as long as the requisite service has been provided. Share Repurchase Program Effective January 1, 2025, our Board of Directors replaced our prior share repurchase program by approving a program authorizing the repurchase of up to $9.0 billion of our Common Stock through December 31, 2027. Repurchases under the program are determined by management and are wholly discretionary. During the nine months ended September 30, 2025, we repurchased approximately 31 million shares of Common Stock at an average cost of $59.00 per share, or an aggregate cost of approximately $1.8 billion, all of which was paid during the period. All share repurchases were funded through available cash and commercial paper issuances. As of September 30, 2025, we have approximately $7.2 billion in remaining share repurchase capacity.

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