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STOCK-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement, Noncash Expense [Abstract]  
Share-based Payment Arrangement, Restricted Stock Unit, Activity
The following table shows the change in non-vested Restricted Units under our equity compensation programs other than the LTIP (defined below) in 2024:
Restricted Units
(in thousands)		Weighted-Average
Grant Date
Fair Value
Non-vested as of January 1, 202458 $176.68 
Vested(83)169.01 
Granted14 147.22 
Reinvested dividends41 N/A
Forfeited / Expired(5)154.27 
Non-vested as of December 31, 202425 $177.76 
Schedule of Share-based Payment Award, Performance Units, Valuation Assumptions
The weighted-average assumptions used in our Monte Carlo models for each award year were as follows:
202420232022
Risk-free interest rate4.43 %3.89 %2.35 %
Expected volatility27.02 %30.23 %31.92 %
Weighted-average fair value of units granted$156.73 $198.78 $227.00 
Share payout101.92 %107.72 %107.37 %
Share-Based Payment Arrangement, Performance Shares, Activity
The following table shows LTIP RPU activity during the year ended December 31, 2024:
RPUs
(in thousands)		Weighted-Average
Grant Date
Fair Value
Non-vested as of January 1, 20241,268 $210.04 
Vested(296)214.27 
Granted918 156.73 
Reinvested dividends90 N/A
Performance adjustments (1)
(320)226.71 
Forfeited / Expired(259)184.89 
Non-vested as of December 31, 20241,401 $174.12 
(1)    Represents the incremental performance adjustment to RPUs with a performance period ending in 2024, which vested during the year.
Share-based Payment Arrangement, Option, Activity
The following table provides an analysis of activity during 2024 relating to options to purchase shares of class A common stock:
Options
(in thousands)		Weighted-Average
Exercise
Price		Weighted-Average Remaining
Contractual Term
(in years)		Aggregate Intrinsic
Value
(in millions)
Outstanding at January 1, 20241,382 $127.91 
Exercised(34)99.69 
Granted153 154.76 
Forfeited / Expired(49)N/A
Outstanding as of December 31, 20241,452 $130.08 5.08$19 
Options Vested and Expected to Vest1,452 $130.08 5.08$19 
Exercisable as of December 31, 20241,128 $119.92 4.26$18 
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
The fair value of each option grant is estimated using the Black-Scholes option pricing model. The weighted-average assumptions used by year, and the calculated weighted-average fair values of options, are as follows:
202420232022
Expected dividend yield3.96 %3.54 %2.35 %
Risk-free interest rate4.25 %3.70 %2.39 %
Expected life in years6.135.937.50
Expected volatility28.94 %28.31 %25.04 %
Weighted-average fair value of options granted$34.76 $41.08 $48.45