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Stock Option Plans (Tables)

6 Months Ended

Jun. 30, 2025

Share-Based Payment Arrangement [Abstract]

Black-Scholes Option Pricing Model with Weighted Average

For purposes of expense recognition, 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:

			2025						2024
Expected dividend yield			0.8		%				1.0		%
Expected risk-free interest rate			4.1		%				4.2		%
Volatility			25.4		%				25.3		%
Expected life (in years)			5.5						5.5

Stock Option Activity and Related Information

The following is a summary of our stock option activity and related information for 2025 (in millions, except exercise price and year data):

			Six-month period ended June 30, 2025
			Shares Under Option						Weighted Average Exercise Price						Weighted Average Remaining Contractual Term (in years)						Aggregate Intrinsic Value
Beginning balance			7.3						$	148.26
Granted			0.8						337.75
Exercised			(1.0)						105.45
Forfeited or canceled			(0.1)						186.68
Ending balance			7.0						$	175.86					3.88						$	1,025.7
Exercisable at end of period			2.4						$	110.24					2.16						$	495.7
Ending unvested and expected to vest			4.3						$	206.32					4.70						$	497.1

Other Information Regarding Stock Options Outstanding and Exercisable

Other information regarding stock options outstanding and exercisable at June 30, 2025 is summarized as follows (in millions, except exercise price and year data):

																		Options Outstanding																		Options Exercisable
Range of Exercise Prices																		Number Outstanding						Weighted Average Remaining Contractual Term (in years)						Weighted Average Exercise Price						Number Exercisable						Weighted Average Exercise Price
$	79.59					—						$	79.59					0.4						0.70						$	79.59					0.4						$	79.59
86.17						—						86.17						0.8						1.66						86.17						0.8						86.17
127.90						—						127.90						1.2						2.71						127.90						0.7						127.90
156.85						—						156.85						0.8						3.58						156.85						0.2						156.85
158.56						—						161.14						1.0						3.71						158.64						0.3						158.59
177.09						—						202.13						1.0						4.71						177.76						—						—
238.88						—						243.54						1.0						5.67						243.54						—						—
337.74						—						347.44						0.8						6.67						337.75						—						—
$	79.59					—						$	347.44					7.0						3.88						$	175.86					2.4						$	110.24

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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.

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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.

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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.

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