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Stock-based compensation plans (Tables) | 12 Months Ended
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Dec. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Summary of Restricted Stock and Restricted Stock Unit Activity | A summary of restricted stock and restricted stock unit activity follows:
| Restricted Stock Units Outstanding |  | Weighted- Average Grant Price |  | Restricted Stock Outstanding |  | Weighted- Average Grant Price
Unvested at January 1, 2024 | 1,330,278 |  | $ | 154.46 |  |  | 31,715 |  | $ | 164.63 |
Granted | 969,427 |  | 139.56 |  |  | — |  | — |
Vested | (696,738) |  | 147.81 |  |  | (20,836) |  | 164.66 |
Cancelled | (58,929) |  | 148.75 |  |  | (267) |  | 161.18 |
Unvested at December 31, 2024 | 1,544,038 |  | 148.33 |  |  | 10,612 |  | 164.66 |
Summary of Stock Option Activity | Select information on employee stock-based compensation plans is summarized in the following table.
(Dollars in millions) | 2024 |  | 2023 |  | 2022
Stock-based compensation expense (a) | $ | 116 |  |  | $ | 118 |  |  | $ | 111 |
Income tax benefits recognized | 25 |  |  | 24 |  |  | 26 |
Cash received from exercised stock options | 138 |  |  | 32 |  |  | 37 |
Fair value of stock-based awards granted | 141 |  |  | 124 |  |  | 99 |
Intrinsic value of vested restricted stock and restricted stock units and exercised stock options | 134 |  |  | 96 |  |  | 125 |
__________________________________________________________________________________ (a) Unrecognized stock-based compensation expense of $48 million at December 31, 2024 is expected to be recognized over a weighted-average period of approximately one year. A summary of stock option activity follows:
|  |  | Weighted-Average |  |
| Stock Options Outstanding |  | Exercise Price |  | Life (In Years) |  | Aggregate Intrinsic Value (In millions)
Outstanding at January 1, 2024 | 2,198,664 |  | $ | 152.33 |  |  |  |  |
Granted | 133,834 |  | 138.10 |  |  |  |  |
Exercised | (1,026,259) |  | 142.00 |  |  |  |  |
Cancelled/Expired | (345,406) |  | 166.48 |  |  |  |  |
Outstanding at December 31, 2024 | 960,833 |  | 156.30 |  |  | 6.2 |  | $ | 30,664 |
Exercisable at December 31, 2024 | 654,215 |  | $ | 158.70 |  |  | 5.3 |  | $ | 19,371 |

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- 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
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- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
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