XML 45 R31.htm IDEA: XBRL DOCUMENT
v3.23.3

Stock Based Compensation Plans (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2023
Share-Based Payment Arrangement [Abstract] |
Summary of Option Activity | The following table provides a summary of option activity:
|  |  |  |  |  |  | Weighted |  |  |  |
|  |  |  |  |  |  | Average |  |  |  |
|  |  |  | Weighted |  |  | Remaining |  |  |  |
|  |  |  | Average |  |  | Contractual |  |  | Aggregate |
|  |  |  | Exercise |  |  | Term |  |  | Intrinsic |
| Options |  |  | Price |  |  | (in Years) |  |  | Value |
Outstanding at December 31, 2022 |  | 11.9 |  |  | $ | 62.64 |  |  |  |  |  |  |
Granted |  | 1.0 |  |  |  | 83.61 |  |  |  |  |  |  |
Exercised |  | (2.4 | ) |  |  | 44.53 |  |  |  |  |  |  |
Cancelled |  | (0.2 | ) |  |  | 81.21 |  |  |  |  |  |  |
Outstanding at September 30, 2023 |  | 10.3 |  |  | $ | 68.62 |  |  |  | 6.0 |  |  | $ | 238.7 |
Exercisable at September 30, 2023 |  | 6.5 |  |  | $ | 58.98 |  |  |  | 4.6 |  |  | $ | 211.0 |
Information Regarding Intrinsic Value of Stock Options Exercised and Stock Compensation Expense Related to Stock Option Awards | The following table provides information regarding the intrinsic value of stock options exercised and stock compensation expense related to stock option awards:
| Three Months Ended |  |  | Nine Months Ended |
| September 30, |  |  | September 30, |  |  | September 30, |  |  | September 30, |
| 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Intrinsic Value of Stock Options Exercised | $ | 14.2 |  |  | $ | 3.3 |  |  | $ | 121.9 |  |  | $ | 29.6 |
Stock Compensation Expense Related to Stock Option Awards | $ | 3.8 |  |  | $ | 4.1 |  |  | $ | 22.7 |  |  | $ | 21.6 |
Issued Stock Options |  | 0.0 |  |  |  | 0.0 |  |  |  | 1.0 |  |  |  | 1.5 |
Weighted Average Fair Value of Stock Options issued (per share) | $ | 0.0 |  |  | $ | 0.0 |  |  | $ | 24.05 |  |  | $ | 21.48 |
Fair Value of Stock Options Issued | $ | 0.0 |  |  | $ | 0.0 |  |  | $ | 24.8 |  |  | $ | 32.7 |
Assumptions Used in Valuation of Issued Stock Options | The following table provides a summary of the assumptions used in the valuation of issued stock options:
| Three Months Ended |  | Nine Months Ended |
| September 30, |  | September 30, |  | September 30, |  |  | September 30, |
| 2023 |  | 2022 |  | 2023 |  |  | 2022 |
Risk-free interest rate | N/A |  | N/A |  |  | 4.0 | % |  |  | 2.9 | %
Expected life in years | N/A |  | N/A |  |  | 7.3 |  |  |  | 7.1 |
Expected volatility | N/A |  | N/A |  |  | 22.4 | % |  |  | 21.7 | %
Dividend yield | N/A |  | N/A |  |  | 1.3 | % |  |  | 1.2 | %

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 activity for award under share-based payment arrangement. Includes, but is not limited to, outstanding award at beginning and end of year, granted, exercised, forfeited, 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)(2) -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
Name: | us-gaap_ScheduleOfShareBasedCompensationActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
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