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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 Stock-Based Compensation Expense | Stock-based compensation expense for the years ended December 31, 2024, 2023, and 2022, included as a component of “Selling, general and administrative expenses,” was as follows:
| 2024 |  | 2023 |  | 2022
Stock-based compensation | $ | 145.9 |  |  | $ | 123.5 |  |  | $ | 117.8 |
Tax benefit recognized in net earnings | $ | 24.8 |  |  | $ | 20.4 |  |  | $ | 18.6 |
Schedule of Weighted-Average Assumptions of Share-Based Compensation | The weighted-average fair value of options granted in 2024, 2023, and 2022 were calculated using the following weighted average assumptions:
| 2024 |  | 2023 |  | 2022
Weighted-average fair value ($) | 173.21 |  |  | 130.23 |  |  | 116.55 |
Risk-free interest rate (%) | 4.15 |  |  | 3.76 |  |  | 2.19 |
Expected option life (years) | 5.73 |  | 5.61 |  | 5.63
Expected volatility (%) | 25.54 |  |  | 26.05 |  |  | 24.59 |
Expected dividend yield (%) | 0.51 |  |  | 0.63 |  |  | 0.55 |
The fair value of performance-based restricted stock awards subject to a market modifier granted in 2024 was determined using the following weighted average assumptions:
| 2024 |  |  |  |
Weighted-average grant date fair value ($) | 563.00 |  |  |  |  |
Risk-free interest rate (%) | 4.30 |  |  |  |  |
Expected term (years) | 2.80 |  |  |  |
Expected volatility (%) | 20.12 |  |  |  |  |
Expected dividend yield (%) | 0.50 |  |  |  |  |
Schedule of Stock Options Share-Based Compensation Activity | The following table summarizes stock option activities, with respect to the Company’s share-based compensation plans, for the years ended December 31, 2024 and 2023:
| Number of options |  | Weighted-average exercise price |  | Weighted-average remaining contractual term (years) |  | Aggregate intrinsic value
Outstanding at December 31, 2022 | 2.985 |  |  | $ | 312.34 |  |  |  |  |
Granted | 0.383 |  |  | $ | 432.77 |  |  |  |  |
Exercised | (0.593) |  |  | $ | 246.77 |  |  |  |  |
Canceled | (0.087) |  |  | $ | 425.80 |  |  |  |  |
Outstanding at December 31, 2023 | 2.688 |  |  | $ | 340.89 |  |  | 6.00 |  | $ | 549.1 |
Granted | 0.286 |  |  | $ | 553.79 |  |  |  |  |
Exercised | (0.422) |  |  | $ | 298.04 |  |  |  |  |
Canceled | (0.072) |  |  | $ | 468.72 |  |  |  |  |
Outstanding at December 31, 2024 | 2.480 |  |  | $ | 368.57 |  |  | 5.37 |  | $ | 384.4 |
Exercisable at December 31, 2024 | 1.688 |  |  | $ | 316.77 |  |  | 4.03 |  | $ | 342.9 |
Schedule of Restricted Stock Award Activity | The following table summarizes the Company’s restricted stock award activity during 2024 and 2023:
|  |  |  |  | Number of shares |  | Weighted-average grant date fair value
Nonvested at December 31, 2022 |  |  |  |  | 0.445 |  |  | $ | 416.00 |
Granted |  |  |  |  | 0.280 |  |  | $ | 439.72 |
Vested |  |  |  |  | (0.202) |  |  | $ | 406.36 |
Forfeited |  |  |  |  | (0.083) |  |  | $ | 434.87 |
Nonvested at December 31, 2023 |  |  |  |  | 0.440 |  |  | $ | 431.96 |
Granted |  |  |  |  | 0.402 |  |  | $ | 552.94 |
Vested |  |  |  |  | (0.229) |  |  | $ | 445.87 |
Forfeited |  |  |  |  | (0.058) |  |  | $ | 522.46 |
Nonvested at December 31, 2024 |  |  |  |  | 0.555 |  |  | $ | 515.77 |

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- 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 -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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- 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 -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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