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Share-Based Payments (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Weighted-Average Assumptions Used to Determine Fair Value of Stock Options

The fair values of the options granted during the years ended December 31, 2023, 2022, and 2021 have been estimated at the grant date using the Black-Scholes option-pricing model with the following weighted-average assumptions:

			For the Year Ended December 31,
			2023						2022						2021
Expected volatility			28.5		%				28.3		%				28.4		%
Risk-free interest rate			4.2		%				1.7		%				1.1		%
Expected life (years)			6.9						7.8						7.1
Dividend yield			1.1		%				1.9		%				1.9		%

Schedule of Stock Option Activity

A summary of our stock option activity and related information is as follows:

			Shares (In Thousands)						Weighted- Average Exercise Price per Share						Weighted- Average Remaining Life (Years)						Aggregate Intrinsic Value (In Millions)
Outstanding, December 31, 2022			836						$	47.12
Granted			77						56.21
Exercised			(60)						24.61
Outstanding, December 31, 2023			853						49.52						5.4						$	14.7
Exercisable, December 31, 2023			667						47.25						4.5						13.0

Schedule of Restricted Stock Activity

A summary of our issued restricted stock awards is as follows (share information in thousands):

			Shares						Weighted-Average Grant Date Fair Value
Nonvested shares at December 31, 2022			526						$	63.35
Granted			582						65.20
Vested			(367)						65.75
Forfeited			(35)						62.69
Nonvested shares at December 31, 2023			706						63.60

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Tabular disclosure of the changes in outstanding nonvested restricted stock shares.

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-Name Accounting Standards Codification
-Section 50
-Subparagraph (c)
-Paragraph 2
-SubTopic 10
-Topic 718
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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.

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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.

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