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STOCK OWNERSHIP AND COMPENSATION PLANS (Tables)
 12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of Assumptions Used in Valuing The Company's Stock Options The weighted average assumptions used in valuing stock options granted in the periods presented were:
202320222021
Fair value at grant date$36.09$26.80$21.82
Expected volatility27.4%26.4%25.6%
Dividend yield2.0%2.0%2.0%
Risk-free interest rate4.2%2.0%0.6%
Expected holding period, in years4.94.94.8
Summary of Transactions Under The Company's Stock Option Plans The following summarizes the activity relative to stock option awards for 2023:



Shares


Weighted
Average Exercise Price
Weighted Average Remaining Contractual Term
(in years)

Aggregate Intrinsic Value
Options outstanding, beginning of year4.7 $101.78 
Options granted0.4 142.92 
Options exercised(0.8)88.35 
Options forfeited and canceled(0.1)129.67 
Options outstanding, end of year4.2 $107.47 5.1$129 
Exercisable, end of year3.4 $101.86 4.5$124 
Vested and expected to vest, end of year4.1 $107.31 5.1$129 
Schedule of Assumptions Used in Valuing The Company's Performance Share Units The weighted average assumptions used in valuing performance share units with a market-based relative TSR goal in the periods presented were:
202320222021
Fair value at grant date$171.58$130.00$150.15
Expected volatility25.0%29.9%30.2%
Dividend yield2.0%2.0%2.0%
Risk-free interest rate4.4%1.7%0.2%
Summary of Transactions Under Stock Awards Other than Options The following summarizes the activity relative to stock awards, including restricted stock units and performance share units, for 2023, 2022 and 2021:
202320222021
SharesWeighted
Average
Grant Date
Fair Value		SharesWeighted
Average
Grant Date
Fair Value		SharesWeighted
Average
Grant Date
Fair Value
Shares outstanding, beginning of year1.1 $122.45 1.0 $107.46 1.0 $100.12 
Shares granted0.6 141.77 0.8 128.49 0.5 122.78 
Shares vested(0.5)112.28 (0.6)92.45 (0.5)103.41 
Shares forfeited and canceled— — (0.1)122.38 — — 
Shares outstanding, end of year1.2 $130.70 1.1 $122.45 1.0 $107.46