XML 121 R60.htm IDEA: XBRL DOCUMENT v3.25.0.1

Stock Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation Expense

Stock-Based Compensation Expense

			For the years ended December 31,
			2024			2023			2022
Stock-based compensation plans expense			$	133		$	125		$	131
Income tax benefit			(21)			(22)			(22)
Excess tax benefit on awards vested, exercised and expired			(21)			(12)			(12)
Total stock-based compensation plans expense, net of tax			$	91		$	91		$	97

Stock Compensation Valuation Assumptions

Stock Options Valuation Assumptions

			For the years ended December 31,
			2024									2023									2022
Expected dividend yield			1.8%									2.0%									2.3%
Expected annualized spot volatility			19.2		%	-			22.7%			24.5		%	-			26.0%			28.3		%	-			29.6%
Weighted average annualized volatility			21.7%									25.4%									28.8%
Risk-free spot rate			4.3		%	-			5.5%			3.8		%	-			5.1%			(0.04)		%	-			2.0%
Expected term			7.4 years									6.7 years									6.4 years

Non-qualified Stock Option Activity Under the Incentive Stock Plan

Non-qualified Stock Option Activity Under the Stock Incentive Plan

			Number of Options (in thousands)			Weighted Average Exercise Price			Weighted Average Remaining Contractual Term			Aggregate Intrinsic Value
			For the year ended December 31, 2024
Outstanding at beginning of year			6,071			$	55.92
Granted			270			$	95.74
Exercised			(1,823)			$	50.45
Forfeited			—			$	—
Expired			—			$	—
Outstanding at end of year			4,518			$	60.51		5.4			$	221
Outstanding, fully vested and expected to vest			4,494			$	60.40		5.4			$	221
Exercisable at end of year			3,711			$	55.85		4.8			$	199

Assumptions

Assumptions for Total Stockholder Return Performance Shares

			For the years ended December 31,
			2024									2023									2022
Volatility of common stock			21.7%									33.0%									35.9%
Average volatility of peer companies			20.0		%	-			33.0%			26.0		%	-			41.0%			27.0		%	-			46.0%
Average correlation coefficient of peer companies			42.0%									52.0%									68.0%
Risk-free spot rate			4.4%									4.4%									1.8%
Term			3.0 years									3.0 years									3.0 years

Non-vested Share Award Activity Under the Incentive Stock Plan

Non-vested Share Award Activity Under the Stock Incentive Plan

			Restricted Stock Units						Performance Shares
			Number of Shares (in thousands)			Weighted-Average Grant-Date Fair Value			Number of Shares (in thousands)			Weighted-Average Grant date Fair Value
Non-vested shares			For the year ended December 31, 2024
Non-vested at beginning of year			3,259			$	65.44		583			$	77.97
Granted			837			$	96.34		338			$	103.08
Performance based adjustment, net									252			$	71.00
Vested			(1,281)			$	53.09		(567)			$	71.30
Forfeited			(137)			$	77.97		(12)			$	88.19
Non-vested at end of year			2,678			$	80.36		594			$	95.49

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 share-based payment arrangement.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-SubTopic 10
-Topic 718
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_DisclosureOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit.

+ References

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

+ Details

Name:	us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of number, weighted-average exercise price or conversion ratio, aggregate intrinsic value, and weighted-average remaining contractual term for outstanding performance-based awards that are fully vested and expected to vest. Includes, but is not limited to, unvested awards for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur.

+ References

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

+ Details

Name:	us-gaap_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardPerformanceBasedUnitsVestedAndExpectedToVestTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of number, weighted-average exercise price or conversion ratio, aggregate intrinsic value, and weighted-average remaining contractual term for outstanding restricted stock units that are fully vested and expected to vest. Includes, but is not limited to, unvested restricted stock units for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur.

+ References

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

+ Details

Name:	us-gaap_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockUnitsVestedAndExpectedToVestTableTextBlock
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
-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

Name:	us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration