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Stock-based Compensation Plans (Tables) | 12 Months Ended
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Dec. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Restricted Stock Activity | The following table summarizes information related to restricted stock activity:
| (Shares stated in millions) |
| 2024 |  |  | 2023 |  |  | 2022 |
|  |  |  | Weighted- |  |  |  |  |  | Weighted- |  |  |  |  |  | Weighted- |
|  |  |  | Average |  |  |  |  |  | Average |  |  |  |  |  | Average |
| Restricted |  |  | Grant Date |  |  | Restricted |  |  | Grant Date |  |  | Restricted |  |  | Grant Date |
| Stock |  |  | Fair Value |  |  | Stock |  |  | Fair Value |  |  | Stock |  |  | Fair Value |
Unvested at beginning of year |  | 14 |  |  | $ | 39.88 |  |  |  | 18 |  |  | $ | 30.24 |  |  |  | 22 |  |  | $ | 29.03 |
Granted |  | 6 |  |  | $ | 45.44 |  |  |  | 5 |  |  | $ | 56.24 |  |  |  | 7 |  |  | $ | 36.16 |
Adjustments for performance achieved |  | 1 |  |  | $ | 22.85 |  |  |  | 2 |  |  | $ | 32.47 |  |  |  | 2 |  |  | $ | 35.55 |
Vested |  | (8 | ) |  | $ | 32.50 |  |  |  | (11 | ) |  | $ | 29.82 |  |  |  | (13 | ) |  | $ | 32.42 |
Unvested at year-end |  | 13 |  |  | $ | 46.12 |  |  |  | 14 |  |  | $ | 39.88 |  |  |  | 18 |  |  | $ | 30.24 |
Assumptions Used in Estimating Fair Value of Purchase Rights under Discounted Stock Purchase Plan | The fair value of the employees’ purchase rights under the DSPP was estimated using the Black-Scholes model with the following assumptions and resulting weighted-average fair value per share:
| 2024 |  |  | 2023 |  |  | 2022 |
Dividend yield |  | 2.1 | % |  |  | 1.7 | % |  |  | 1.8 | %
Expected volatility |  | 31 | % |  |  | 50 | % |  |  | 47 | %
Risk-free interest rate |  | 5.31 | % |  |  | 5.13 | % |  |  | 1.32 | %
Weighted-average fair value per share | $ | 12.02 |  |  | $ | 14.93 |  |  | $ | 8.05 |
Summary of Stock Option Activity | The following table summarizes stock option activity:
| (Shares stated in millions) |
| 2024 |  |  | 2023 |  |  | 2022 |
|  |  |  | Weighted- |  |  |  |  |  | Weighted- |  |  |  |  |  | Weighted- |
|  |  |  | Average |  |  |  |  |  | Average |  |  |  |  |  | Average |
|  |  |  | Exercise |  |  |  |  |  | Exercise |  |  |  |  |  | Exercise |
| Shares |  |  | Price |  |  | Shares |  |  | Price |  |  | Shares |  |  | Price |
Outstanding at beginning of year |  | 28 |  |  | $ | 72.33 |  |  |  | 35 |  |  | $ | 70.31 |  |  |  | 42 |  |  | $ | 68.95 |
Exercised |  | (1 | ) |  | $ | 39.91 |  |  |  | (2 | ) |  | $ | 40.02 |  |  |  | (2 | ) |  | $ | 40.04 |
Forfeited / expired |  | (5 | ) |  | $ | 91.55 |  |  |  | (5 | ) |  | $ | 73.18 |  |  |  | (5 | ) |  | $ | 71.45 |
Outstanding at year-end |  | 22 |  |  | $ | 69.20 |  |  |  | 28 |  |  | $ | 72.33 |  |  |  | 35 |  |  | $ | 70.31 |
Options Outstanding and Option Exercisable | The following table summarizes information related to options outstanding and options exercisable as of December 31, 2024:
| (Shares stated in millions) |
| Options Outstanding |  |  | Options Exercisable |
|  |  |  | Weighted- |  |  |  |  |  |  |  |  |  |
|  |  |  | Average |  |  | Weighted- |  |  |  |  |  | Weighted- |
| Options |  |  | Remaining Life |  |  | Average |  |  | Options |  |  | Average |
Exercise prices range | Outstanding |  |  | (in years) |  |  | Exercise Price |  |  | Exercisable |  |  | Exercise Price |
$38.75 - $41.47 |  | 6 |  |  |  | 4.7 |  |  | $ | 39.75 |  |  |  | 5 |  |  | $ | 40.00 |
$47.55 - $77.10 |  | 5 |  |  |  | 1.8 |  |  | $ | 70.54 |  |  |  | 5 |  |  | $ | 70.54 |
$77.80 - $84.22 |  | 5 |  |  |  | 1.0 |  |  | $ | 80.09 |  |  |  | 5 |  |  | $ | 80.09 |
$87.38 - $91.74 |  | 6 |  |  |  | 1.2 |  |  | $ | 89.44 |  |  |  | 6 |  |  | $ | 89.44 |
|  | 22 |  |  |  | 2.3 |  |  | $ | 69.20 |  |  |  | 21 |  |  | $ | 71.08 |
Stock-Based Compensation Expense Recognized in Income | The following summarizes stock-based compensation expense recognized in income:
(Stated in millions) |
| 2024 |  |  | 2023 |  |  | 2022 |
Restricted stock | $ | 250 |  |  | $ | 225 |  |  | $ | 255 |
DSPP |  | 59 |  |  |  | 56 |  |  |  | 41 |
Stock options |  | 7 |  |  |  | 12 |  |  |  | 17 |
| $ | 316 |  |  | $ | 293 |  |  | $ | 313 |

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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of employee stock purchase plans, including, but not limited to: (a) expected term, (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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