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EMPLOYEE BENEFIT PLANS (Tables) | 12 Months Ended
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Dec. 31, 2022
Retirement Benefits [Abstract] |
Schedule of Compensation Expense | The compensation expense that has been charged against income for these plans was as follows for the years ended December 31, 2022, 2021, and 2020:
| 2022 |  | 2021 |  | 2020
| (in millions)
Stock-based compensation expense by type: |  |  |  |  |
Restricted stock | $ | 207 |  |  | $ | 171 |  |  | $ | 171 |
Stock options | 9 |  |  | 9 |  |  | 10 |
Total stock-based compensation expense | 216 |  |  | 180 |  |  | 181 |
Tax benefit recognized | (28) |  |  | (15) |  |  | (29) |
Stock-based compensation expense, net of tax | $ | 188 |  |  | $ | 165 |  |  | $ | 152 |
Schedule of Restricted Stock Awards Activity | Activity for our restricted stock was as follows for the year ended December 31, 2022:
| Shares |  | Weighted- Average Grant-Date Fair Value
| (shares in thousands)
Nonvested restricted stock at December 31, 2021 | 873 |  |  | $ | 380.55 |
Granted | 492 |  |  | 430.06 |
Vested | (449) |  |  | 342.42 |
Forfeited | (103) |  |  | 292.28 |
Nonvested restricted stock at December 31, 2022 | 813 |  |  | $ | 429.22 |
Schedule of Weighted-Average Fair Value Assumptions | The fair value was estimated on the date of grant using the Black-Scholes pricing model with the weighted-average assumptions indicated below:
| 2022 |  | 2021 |  | 2020
Weighted-average fair value at grant date | $ | 113.35 |  |  | $ | 92.21 |  |  | $ | 69.73 |
Expected option life (years) | 3.6 years |  | 3.7 years |  | 4.0 years
Expected volatility | 36.1 | % |  | 33.8 | % |  | 24.9 | %
Risk-free interest rate at grant date | 1.8 | % |  | 0.4 | % |  | 1.2 | %
Dividend yield | 0.7 | % |  | 0.7 | % |  | 0.7 | %
Schedule of Activity for Option Plans | Activity for our option plans was as follows for the year ended December 31, 2022:
| Shares Under Option |  | Weighted-Average Exercise Price
| (shares in thousands)
Options outstanding at December 31, 2021 | 310 |  |  | $ | 339.08 |
Granted | 65 |  |  | 425.32 |
Exercised | (163) |  |  | 319.27 |
Forfeited | (8) |  |  | 370.26 |
Options outstanding at December 31, 2022 | 204 |  |  | $ | 381.37 |
Options exercisable at December 31, 2022 | 48 |  |  | $ | 345.90 |

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + 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 -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + 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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