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COMMON STOCK (Tables) | 12 Months Ended
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Dec. 31, 2023
Equity [Abstract] |
Schedule of Accelerated Share Repurchases | The following table summarizes the terms of the ASR agreements (dollars and shares in millions, except per share data):
|  |  |  | Initial Delivery |  | Final Settlement
Agreement Date |  | Amount Paid |  | Shares Received |  | Price per Share |  | Value of Shares as % of Contract Value |  | Settlement Date |  | Total Shares Received |  | Average Price per Share
January 2022 |  | $ | 250.0 |  |  | 1.9 |  |  | $ | 104.87 |  |  | 80 | % |  | February 2022 |  | 2.3 |  |  | $ | 110.31 |
October 2022 |  | $ | 750.0 |  |  | 8.3 |  |  | $ | 72.43 |  |  | 80 | % |  | December 2022 |  | 10.3 |  |  | $ | 72.91 |
February 2023 |  | $ | 200.0 |  |  | 2.0 |  |  | $ | 80.44 |  |  | 80 | % |  | March 2023 |  | 2.5 |  |  | $ | 79.28 |
December 2023 |  | $ | 400.0 |  |  | 4.6 |  |  | $ | 70.31 |  |  | 80 | % |  | December 2023 |  | 5.3 |  |  | $ | 72.91 |
Schedule of Weighted-Average Assumptions for Options Granted | The Black-Scholes option pricing model was used with the following weighted-average assumptions for options granted during the following periods: Option Awards
| Years Ended December 31,
| 2023 |  | 2022 |  | 2021
Risk-free interest rate | 3.4 | % |  | 3.0 | % |  | 0.8 | %
Expected dividend yield | None |  | None |  | None
Expected volatility | 32.8 | % |  | 31.4 | % |  | 33.5 | %
Expected term (years) | 5.1 |  | 5.0 |  | 5.0
Fair value, per share | $ | 30.97 |  |  | $ | 34.59 |  |  | $ | 28.90 |
Schedule of Weighted-Average Assumptions for ESPP Subscriptions | The Black-Scholes option pricing model was used with the following weighted-average assumptions for ESPP subscriptions granted during the following periods: ESPP
| Years Ended December 31,
| 2023 |  | 2022 |  | 2021
Risk-free interest rate | 4.6 | % |  | 0.5 | % |  | 0.1 | %
Expected dividend yield | None |  | None |  | None
Expected volatility | 31.5 | % |  | 32.0 | % |  | 36.6 | %
Expected term (years) | 0.6 |  | 0.6 |  | 0.6
Fair value, per share | $ | 19.03 |  |  | $ | 28.18 |  |  | $ | 23.07 |
Schedule of Stock Option Activity | Stock option activity during the year ended December 31, 2023 under the Program and the Nonemployee Directors Program was as follows (in millions, except years and per-share amounts):
| Shares |  | Weighted- Average Exercise Price |  | Weighted- Average Remaining Contractual Term |  | Aggregate Intrinsic Value
Outstanding as of December 31, 2022 | 11.6 |  |  | $ | 63.67 |  |  |  |  |
Options granted | 2.0 |  |  | 88.27 |  |  |  |  |
Options exercised | (2.2) |  |  | 38.54 |  |  |  |  |
Options forfeited | (0.4) |  |  | 97.32 |  |  |  |  |
Outstanding as of December 31, 2023 | 11.0 |  |  | 71.90 |  |  | 3.5 years |  | $ | 136.9 |
Exercisable as of December 31, 2023 | 7.3 |  |  | 61.68 |  |  | 2.4 years |  | $ | 135.5 |
Vested and expected to vest as of December 31, 2023 | 10.5 |  |  | 70.91 |  |  | 3.4 years |  | $ | 136.7 |
Schedule of Restricted Stock Unit Activity | The following table summarizes nonvested restricted stock unit activity during the year ended December 31, 2023 under the Program and the Nonemployee Directors Program (in millions, except per-share amounts):
| Shares |  | Weighted- Average Grant-Date Fair Value
Nonvested as of December 31, 2022 | 2.0 |  |  | $ | 92.30 |
Granted | 1.1 |  |  | 89.03 |
Vested | (0.8) |  |  | 83.17 |
Forfeited | (0.2) |  |  | 99.82 |
Nonvested as of December 31, 2023 | 2.1 |  |  | 94.35 |

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- Definition Tabular disclosure of accelerated share repurchase (ASR) programs. An ASR is a combination of transactions that permits an entity to purchase a targeted number of shares immediately with the final purchase price of those shares determined by an average market price over a fixed period of time. An accelerated share repurchase program is intended to combine the immediate share retirement benefits of a tender offer with the market impact and pricing benefits of a disciplined daily open market stock repurchase program. ASRs can be disclosed as part of stockholders' equity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 30 -Name Accounting Standards Codification -Section 25 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481138/505-30-25-5 + Details
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- Definition Tabular disclosure of the changes in outstanding nonvested restricted stock units. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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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 -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -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 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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- 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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