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Stock Option Plans (Tables) | 12 Months Ended
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Dec. 31, 2024
Text Block [Abstract] |
Black-Scholes Option Pricing Model with Weighted Average | For purposes of expense recognition in 2024, 2023 and 2022, the estimated fair values of the stock option grants are amortized to expense over the options’ vesting period. We estimated the fair value of stock options at the date of grant using the Black-Scholes option pricing model with the following weighted average assumptions:
|  | Year Ended December 31, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
Expected dividend yield |  |  | 1.0 | % |  |  | 1.2 | % |  |  | 1.3 | %
Expected risk-free interest rate |  |  | 4.2 | % |  |  | 3.6 | % |  |  | 1.9 | %
Volatility |  |  | 25.3 | % |  |  | 25.0 | % |  |  | 23.1 | %
Expected life (in years) |  |  | 5.5 |  |  |  | 5.5 |  |  |  | 5.4 |
Stock Option Activity and Related Information | The following is a summary of our stock option activity and related information for 2024 and 2023 (in millions, except exercise price and year data):
|  |  |  |  |  |  |  | Weighted |  |  |  |
|  |  |  |  |  |  |  | Average |  |  |  |
|  |  |  |  | Weighted |  |  | Remaining |  |  |  |
|  | Shares |  |  | Average |  |  | Contractual |  |  | Aggregate |
|  | Under |  |  | Exercise |  |  | Term |  |  | Intrinsic |
|  | Option |  |  | Price |  |  | (in years) |  |  | Value |
Year Ended December 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  |  | 7.9 |  |  | $ | 123.85 |  |  |  |  |  |  |
Granted |  |  | 1.0 |  |  |  | 243.54 |  |  |  |  |  |  |
Exercised |  |  | (1.4 | ) |  |  | 77.93 |  |  |  |  |  |  |
Forfeited or canceled |  |  | (0.2 | ) |  |  | 160.87 |  |  |  |  |  |  |
Ending balance |  |  | 7.3 |  |  | $ | 148.26 |  |  |  | 3.78 |  |  | $ | 995.3 |
Exercisable at end of year |  |  | 1.7 |  |  | $ | 90.06 |  |  |  | 1.78 |  |  | $ | 336.9 |
Ending unvested and expected to vest |  |  | 5.2 |  |  | $ | 164.49 |  |  |  | 4.40 |  |  | $ | 624.4 |
Year Ended December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  |  | 8.3 |  |  | $ | 107.47 |  |  |  |  |  |  |
Granted |  |  | 1.2 |  |  |  | 177.78 |  |  |  |  |  |  |
Exercised |  |  | (1.3 | ) |  |  | 62.33 |  |  |  |  |  |  |
Forfeited or canceled |  |  | (0.3 | ) |  |  | 143.78 |  |  |  |  |  |  |
Ending balance |  |  | 7.9 |  |  | $ | 123.85 |  |  |  | 3.97 |  |  | $ | 793.9 |
Exercisable at end of year |  |  | 1.8 |  |  | $ | 73.04 |  |  |  | 1.63 |  |  | $ | 266.4 |
Ending unvested and expected to vest |  |  | 5.7 |  |  | $ | 137.02 |  |  |  | 4.60 |  |  | $ | 497.2 |
Other Information Regarding Stock Options Outstanding and Exercisable | Other information regarding stock options outstanding and exercisable at December 31, 2024 is summarized as follows (in millions, except exercise price and year data):
|  |  |  |  |  |  |  |  | Options Outstanding |  |  | Options Exercisable |
|  |  |  |  |  |  |  |  |  |  |  | Weighted |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  | Average |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  | Remaining |  |  | Weighted |  |  |  |  |  | Weighted |
|  |  |  |  |  |  |  |  |  |  |  | Contractual |  |  | Average |  |  |  |  |  | Average |
|  |  |  |  |  |  |  |  | Number |  |  | Term |  |  | Exercise |  |  | Number |  |  | Exercise |
Range of Exercise Prices |  |  | Outstanding |  |  | (in years) |  |  | Price |  |  | Exercisable |  |  | Price |
$ | 70.74 |  |  | $ | — |  |  | $ | 70.74 |  |  | $ | 0.2 |  |  | $ | 0.20 |  |  | $ | 70.74 |  |  | $ | 0.2 |  |  | $ | 70.74 |
| 79.59 |  |  |  | — |  |  |  | 79.59 |  |  |  | 0.6 |  |  |  | 1.20 |  |  |  | 79.59 |  |  |  | 0.6 |  |  |  | 79.59 |
| 86.17 |  |  |  | — |  |  |  | 86.17 |  |  |  | 1.0 |  |  |  | 2.19 |  |  |  | 86.17 |  |  |  | 0.6 |  |  |  | 86.17 |
| 127.90 |  |  |  | — |  |  |  | 127.90 |  |  |  | 1.3 |  |  |  | 3.21 |  |  |  | 127.90 |  |  |  | 0.3 |  |  |  | 127.90 |
| 156.85 |  |  |  | — |  |  |  | 156.85 |  |  |  | 1.0 |  |  |  | 4.09 |  |  |  | 156.85 |  |  |  | — |  |  |  | — |
| 158.56 |  |  |  | — |  |  |  | 161.14 |  |  |  | 1.1 |  |  |  | 4.21 |  |  |  | 158.65 |  |  |  | — |  |  |  | — |
| 177.09 |  |  |  | — |  |  |  | 202.13 |  |  |  | 1.1 |  |  |  | 5.21 |  |  |  | 177.80 |  |  |  | — |  |  |  | — |
| 238.88 |  |  |  | — |  |  |  | 243.54 |  |  |  | 1.0 |  |  |  | 6.17 |  |  |  | 243.54 |  |  |  | — |  |  |  | — |
$ | 70.74 |  |  | $ | — |  |  | $ | 243.54 |  |  | $ | 7.3 |  |  | $ | 3.78 |  |  | $ | 148.26 |  |  | $ | 1.7 |  |  | $ | 90.06 |

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- Definition Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms. + References Reference 1: 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 for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + 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 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -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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