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Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule of Options Granted Under LTIP and TSOP | The Committee granted stock options, RSUs, and PSUs pursuant to the LTIP for the last three years as follows:
| 2024 |  | 2023 |  | 2022
| Granted |  | Weighted- Average Grant-Date Fair Value |  | Granted |  | Weighted- Average Grant-Date Fair Value |  | Granted |  | Weighted- Average Grant-Date Fair Value
Stock options | 107,620 |  | $ | 77.38 |  |  | 69,580 |  | $ | 77.60 |  |  | 140,080 |  | $ | 61.32 |
RSUs | 280,111 |  | 238.28 |  |  | 214,936 |  | 230.12 |  |  | 180,306 |  | 265.21 |
PSUs | 64,990 |  | 258.60 |  |  | 59,200 |  | 236.16 |  |  | 58,945 |  | 272.22 |
Schedule of Compensation Costs and Tax Benefits | Related compensation costs and tax benefits during the years were:
| 2024 |  | 2023 |  | 2022
| ($ in millions)
Stock-based compensation expense | $ | 40 |  |  | $ | 40 |  |  | $ | 53 |
Total tax benefit | 11 |  |  | 15 |  |  | 27 |
Schedule of Assumptions Used for LTIP And TSOP Grants | The assumptions for the LTIP grants for the last three years are shown in the following table:
| 2024 |  | 2023 |  | 2022
Average expected volatility | 28 | % |  | 27 | % |  | 27 | %
Average risk-free interest rate | 3.93 | % |  | 3.54 | % |  | 1.80 | %
Average expected option term | 6.7 years |  | 7.0 years |  | 6.5 years
Schedule of Stock Option Activity | A summary of changes in stock options is presented below:
| Stock Options |  | Weighted- Average Exercise Price
Outstanding at December 31, 2023 | 743,397 |  |  | $ | 155.17 |
Granted | 107,620 |  |  | 242.06 |
Exercised | (348,533) |  |  | 120.95 |
Forfeited | (129,820) |  |  | 250.29 |
Outstanding at December 31, 2024 | 372,664 |  |  | 179.14 |
Summary of Stock Options Exercised | The following table provides information related to options exercised for the last three years:
| 2024 |  | 2023 |  | 2022
| ($ in millions)
Options exercised | 348,533 |  |  | 206,016 |  |  | 307,660 |
Total intrinsic value | $ | 46 |  |  | $ | 27 |  |  | $ | 54 |
Cash received upon exercise | 41 |  |  | 19 |  |  | 25 |
Related tax benefits realized | 8 |  |  | 6 |  |  | 12 |
Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity |
| 2024 |  | 2023 |  | 2022
| ($ in millions)
RSUs vested | 171,620 |  |  | 157,417 |  |  | 249,138 |
Common Stock issued net of tax withholding | 118,365 |  |  | 110,069 |  |  | 175,781 |
Related tax benefits realized | $ | 1 |  |  | $ | 1 |  |  | $ | 5 |
A summary of changes in RSUs is presented below:
| RSUs |  | Weighted- Average Grant-Date Fair Value
Nonvested at December 31, 2023 | 433,858 |  |  | $ | 239.21 |
Granted | 280,111 |  |  | 238.28 |
Vested | (171,620) |  |  | 234.80 |
Forfeited | (73,480) |  |  | 235.84 |
Nonvested at December 31, 2024 | 468,869 |  |  | 240.80 |
Schedule of Other Share Activity |
| 2024 |  | 2023 |  | 2022
| ($ in millions)
PSUs earned | 41,580 |  |  | 58,599 |  |  | 86,420 |
Common Stock issued net of tax withholding | 26,056 |  |  | 40,255 |  |  | 54,651 |
Related tax benefits realized | $ | — |  |  | $ | — |  |  | $ | 1 |
A summary of changes in PSUs is presented below:
| PSUs |  | Weighted- Average Grant-Date Fair Value
Balance at December 31, 2023 | 136,709 |  |  | $ | 247.28 |
Granted | 64,990 |  |  | 258.60 |
Earned | (41,580) |  |  | 240.64 |
Forfeited | (85,095) |  |  | 251.40 |
Balance at December 31, 2024 | 75,024 |  |  | 256.08 |
Schedule of Stock Available for Future Grants | Shares of Common Stock available for future grants and issued in connection with all features of the LTIP and the TSOP at December 31, were as follows:
| 2024 |  | 2023 |  | 2022
Available for future grants: |  |  |  |  |
LTIP | 7,438,613 |  |  | 7,731,573 |  |  | 8,238,993 |
TSOP | 437,746 |  |  | 436,571 |  |  | 436,402 |
Issued: |  |  |  |  |
LTIP | 444,189 |  |  | 315,700 |  |  | 503,090 |
TSOP | 48,765 |  |  | 40,640 |  |  | 35,002 |

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