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Stock-Based Compensation (Tables)

12 Months Ended

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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