XML 53 R39.htm IDEA: XBRL DOCUMENT
v3.22.4

Stock-Based Compensation (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract] |
Schedule of Stock-Based Compensation Expense | Stock based compensation expense for the years ended December 31, 2022, 2021 and 2020 included as a component of “Selling, general and administrative expenses” was as follows:
| 2022 |  | 2021 |  | 2020
Stock-based compensation | $ | 117.8 |  |  | $ | 123.0 |  |  | $ | 108.3 |
Tax benefit recognized in net earnings | 18.6 |  |  | 19.8 |  |  | 17.3 |
Schedule of Weighted-Average Assumptions of Stock-Based Compensation | The weighted-average fair value of options granted in 2022, 2021 and 2020 were calculated using the following weighted-average assumptions:
| 2022 |  | 2021 |  | 2020
Weighted-average fair value ($) | 116.55 |  |  | 95.17 |  |  | 63.22 |
Risk-free interest rate (%) | 2.19 |  |  | 0.94 |  |  | 0.81 |
Average expected option life (years) | 5.63 |  | 5.61 |  | 5.64
Expected volatility (%) | 24.59 |  |  | 25.14 |  |  | 20.39 |
Expected dividend yield (%) | 0.55 |  |  | 0.56 |  |  | 0.62 |
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, 2022 and 2021:
| Number of shares |  | Weighted-average exercise price per share |  | Weighted-average contractual term |  | Aggregate intrinsic value
Outstanding at December 31, 2020 | 3.366 |  |  | $ | 255.32 |  |  |  |  |
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 |
Granted | 0.399 |  |  | 452.08 |  |  |  |  |
Exercised | (0.460) |  |  | 239.11 |  |  |  |  |
Canceled | (0.177) |  |  | 359.06 |  |  |  |  |
Outstanding at December 31, 2022 | 2.985 |  |  | 312.34 |  |  | 6.18 |  | $ | 366.3 |
Exercisable at December 31, 2022 | 1.842 |  |  | $ | 256.87 |  |  | 4.90 |  | $ | 322.8 |
Schedule of Stock-Based Compensation by Exercise Price Range | The following table summarizes information for stock options outstanding at December 31, 2022:
|  | Outstanding options |  | Exercisable options
Exercise price |  | Number |  | Average exercise price |  | Average remaining life (years) |  | Number |  | Average exercise price
$115.22 - $170.66 |  | 0.366 |  |  | $ | 153.15 |  |  | 2.1 |  | 0.366 |  |  | $ | 153.15 |
$170.67 - $267.22 |  | 0.326 |  |  | 199.08 |  |  | 4.0 |  | 0.324 |  |  | 198.79 |
$267.23 - $279.28 |  | 0.247 |  |  | 273.07 |  |  | 5.5 |  | 0.247 |  |  | 273.07 |
$279.29 - $316.24 |  | 0.296 |  |  | 281.55 |  |  | 5.3 |  | 0.289 |  |  | 280.89 |
$316.25 -$324.71 |  | 0.435 |  |  | 323.09 |  |  | 7.2 |  | 0.209 |  |  | 323.09 |
$324.72 - $347.81 |  | 0.333 |  |  | 327.22 |  |  | 6.2 |  | 0.332 |  |  | 327.19 |
$347.82 - $398.19 |  | 0.160 |  |  | 372.19 |  |  | 7.0 |  | 0.069 |  |  | 368.53 |
$398.20 - $413.85 |  | 0.425 |  |  | 403.57 |  |  | 8.2 |  | — |  |  | — |
$413.86 - $491.86 |  | 0.397 |  |  | 453.54 |  |  | 9.2 |  | 0.006 |  |  | 450.17 |
$115.22 - $491.86 |  | 2.985 |  |  | $ | 312.34 |  |  | 6.2 |  | 1.842 |  |  | $ | 256.87 |
Schedule of Nonvested Restricted Stock Awards Activity | A summary of the Company’s nonvested shares activity for 2022 and 2021 is as follows:
| Number of shares |  | Weighted-average grant date fair value
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 |
Granted | 0.271 |  |  | 446.42 |
Vested | (0.272) |  |  | 360.14 |
Forfeited | (0.052) |  |  | 386.06 |
Nonvested at December 31, 2022 | 0.445 |  |  | $ | 416.00 |

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the changes in outstanding nonvested restricted stock units. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration