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Share-Based Compensation
3 Months Ended
Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Share-Based Compensation Share-Based Compensation
The Company recognized $86 million and $93 million of share-based compensation expense during the three months ended March 31, 2024 and 2023, respectively. The Company’s share-based compensation awards are typically granted in the first quarter of the year, and may also occur throughout the year in conjunction with acquisitions of businesses. At March 31, 2024, the total remaining unrecognized compensation cost for restricted stock units and awards, performance share units, and unvested stock options, net of estimated forfeitures, of $558 million is expected to be recognized over a weighted-average period of 2.2 years.
A summary of restricted stock unit, restricted stock award and performance share unit activity during the three months ended March 31, 2024 is as follows:
Restricted Stock Units and AwardsPerformance Share Units
Shares
(In thousands)
Weighted-Average Grant Date Fair ValueShares
(In thousands)
Weighted-Average Grant Date Fair Value
Units and awards - December 31, 2023
5,419 $103.11 3,219 $104.09 
Granted1,963 147.57 273 157.52 
Forfeited(102)108.34 (44)113.73 
Vested(2,207)103.59 (217)103.59 
Units and awards - March 31, 2024
5,073 $119.99 3,231 $107.97 
A summary of stock option activity during the three months ended March 31, 2024 is as follows:
Shares
(In thousands)
Weighted-Average Exercise PriceWeighted-Average Remaining Contractual Term (Years)Aggregate Intrinsic Value (In millions)
Stock options outstanding - December 31, 20233,865 $72.36 
Granted— — 
Forfeited(10)108.15 
Exercised(1,784)55.95 
Stock options outstanding - March 31, 20242,071 $86.31 4.55$152 
Stock options exercisable - March 31, 20242,022 $85.70 4.49$150