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Share-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2023
Share-Based Payment Arrangement [Abstract] |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | The following weighted-average assumptions were used to value the grants in 2023, 2022 and 2021:
Year Ended December 31, | 2023 |  | 2022 |  | 2021
Dividend yield | 1.4 | % |  | 1.7 | % |  | 1.7 | %
Volatility | 22.0 | % |  | 20.6 | % |  | 18.4 | %
Risk-free interest rate | 4.23 | % |  | 1.70 | % |  | 1.10 | %
Expected term years | 5 |  | 5 |  | 6
Schedule of Share-based Compensation, Stock Options, Activity | The following table summarizes option activity under the plans as of December 31, 2023 and changes during the period then ended (averages are calculated on a weighted basis; life in years; intrinsic value expressed in millions):
Activity | Number of Options (000’s) |  | Average Exercise Price |  | Average Remaining Life |  | Aggregate Intrinsic Value
Outstanding at January 1, 2023 | 6,720 |  |  | $ | 164.03 |  |  |  |  |
Granted | 361 |  |  | 354.16 |  |  |  |  |
Exercised | (1,225) |  |  | 137.78 |  |  |  |  |
Cancelled or expired | (31) |  |  | 311.86 |  |  |  |  |
Outstanding at December 31, 2023 | 5,825 |  |  | $ | 180.58 |  |  | 5.0 |  | $ | 1,341 |
Exercisable at December 31, 2023 | 4,926 |  |  | $ | 159.18 |  |  | 4.4 |  | $ | 1,239 |
Performance Based and Restricted Stock Activity | The following table summarizes non-vested performance-based and restricted stock unit award activity as of December 31, 2023 and changes during the period then ended (shares based on target amounts, averages are calculated on a weighted basis):
| Performance-Based |  | Restricted Stock
| Number of Shares (000’s) |  | Average Grant Date Fair Value |  | Number of Shares (000’s) |  | Average Grant Date Fair Value
Non-vested at January 1, 2023 | 583 |  |  | $ | 226.04 |  |  | 646 |  |  | $ | 190.33 |
Granted | 342 |  |  | 385.10 |  |  | 161 |  |  | 332.69 |
Vested | (340) |  |  | 174.99 |  |  | (154) |  |  | 176.06 |
Cancelled and Forfeited | (13) |  |  | 156.14 |  |  | (15) |  |  | 163.12 |
Non-vested at December 31, 2023 | 572 |  |  | $ | 281.11 |  |  | 638 |  |  | $ | 232.15 |

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- 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
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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 -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
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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 -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
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