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Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Schedule of Stock-Based Compensation Expense

Stock based compensation expense for the years ended December 31, 2021, 2020 and 2019 included as a component of “Selling, general and administrative expenses” was as follows:

			2021						2020						2019
Stock based compensation			$	136.1					$	117.0					$	101.2
Tax benefit recognized in net earnings			28.6						24.6						21.3

Schedule of Weighted-Average Assumptions of Stock-Based Compensation

The weighted-average fair value of options granted in 2021, 2020 and 2019 were calculated using the following weighted-average assumptions:

			2021						2020						2019
Weighted-average fair value ($)			95.17						63.22						68.05
Risk-free interest rate (%)			0.94						0.81						2.37
Average expected option life (years)			5.61						5.64						5.42
Expected volatility (%)			25.14						20.39						19.22
Expected dividend yield (%)			0.56						0.62						0.58

Schedule of Share-Based Compensation Activity

The following table summarizes the Company’s activities with respect to its share-based compensation plans for the years ended December 31, 2021 and 2020:

			Number of shares						Weighted-average exercise price per share						Weighted-average contractual term						Aggregate intrinsic value
Outstanding at December 31, 2019			3.349						$	219.40
Granted			0.762						333.45
Exercised			(0.670)						157.85
Canceled			(0.075)						304.56
Outstanding at December 31, 2020			3.366						255.32						6.79						$	591.7
Granted			0.516						405.20
Exercised			(0.537)						195.07
Canceled			(0.122)						312.97
Outstanding at December 31, 2021			3.223						287.15						6.61						$	659.9
Exercisable at December 31, 2021			1.480						$	219.68					4.90						$	402.8

Schedule of Stock-Based Compensation by Exercise Price Range

The following table summarizes information for stock options outstanding at December 31, 2021:

						Outstanding options																		Exercisable options
Exercise price						Number						Average exercise price						Average remaining life (years)						Number						Average exercise price
$93.62 - $166.19						0.359						$	141.69					2.4						0.359						$	141.69
$166.20 - $208.79						0.353						177.69						4.5						0.353						177.69
$208.80 - $275.58						0.338						236.24						5.9						0.247						223.79
$275.59 - $279.44						0.447						278.40						6.2						0.264						277.77
$279.45 -$323.36						0.617						319.40						8.1						0.046						287.89
$323.37 - $327.91						0.397						326.32						7.2						0.176						326.32
$327.92 - $398.19						0.204						366.45						7.9						0.035						351.25
$398.20 - $407.21						0.403						401.27						9.2						—						—
$407.22 - $491.86						0.105						422.59						9.1						—						—
$93.62 - $491.86						3.223						$	287.15					6.6						1.480						$	219.68

Schedule of Nonvested Restricted Stock Awards Activity

A summary of the Company’s nonvested shares activity for 2021 and 2020 is as follows:

			Number of shares						Weighted-average grant date fair value
Nonvested at December 31, 2019			0.709						$	275.00
Granted			0.285						358.07
Vested			(0.308)						254.02
Forfeited			(0.085)						309.28
Nonvested at December 31, 2020			0.601						$	320.36
Granted			0.228						409.36
Vested			(0.294)						308.79
Forfeited			(0.037)						350.53
Nonvested at December 31, 2021			0.498						$	365.79

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Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

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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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