XML 75 R61.htm IDEA: XBRL DOCUMENT v3.23.3
10-Q Capital Stock (Tables)
9 Months Ended 12 Months Ended
Sep. 30, 2023
Dec. 31, 2022
Banking Regulation, Total Capital [Abstract]    
Summary of Cash Dividend Activity
A summary of our cash dividend activity for the nine months ended September 30, 2023 and 2022 is as follows: 
Declaration DateRecord DatePayment Date
Cash
Dividend
per Share
Total
Nine Months Ended September 30, 2023
January 24, 2023March 10, 2023March 24, 2023$1.48$351 
April 18, 2023June 9, 2023June 23, 2023$1.48$350 
July 18, 2023September 8, 2023September 22, 2023$1.48$348 
Nine Months Ended September 30, 2022
January 25, 2022March 10, 2022March 25, 2022$1.28$309 
April 19, 2022June 10, 2022June 24, 2022$1.28$309 
July 19, 2022September 9, 2022September 23, 2022$1.28$306 
A summary of the cash dividend activity for the years ended December 31, 2022 and 2021 is as follows: 
Declaration DateRecord DatePayment DateCash Dividend
per Share
Total
Year ended December 31, 2022
January 25, 2022March 10, 2022March 25, 2022$1.28 $309 
April 19, 2022June 10, 2022June 24, 20221.28 309 
July 19, 2022September 9, 2022September 23, 20221.28 306 
October 18, 2022December 5, 2022December 21, 20221.28 305 
Year ended December 31, 2021
January 26, 2021March 10, 2021March 25, 2021$1.13 $277 
April 20, 2021June 10, 2021June 25, 20211.13 278 
July 20, 2021September 10, 2021September 24, 20211.13 276 
October 19, 2021December 3, 2021December 21, 20211.13 273 
Summary of Share Repurchases
A summary of common stock repurchases for the nine months ended September 30, 2023 and 2022 is as follows:
Nine Months Ended September 30
 20232022
Shares repurchased3.8 3.7 
Average price per share$462.42 $473.36 
Aggregate cost$1,748 $1,748 
Authorization remaining at the end of the period$5,128 $2,444 
A summary of common stock repurchases for the years ended December 31, 2022 and 2021 is as follows:
Years Ended December 31
 20222021
Shares repurchased4.8 5.1 
Average price per share$478.99 $371.46 
Aggregate cost$2,316 $1,900 
Authorization remaining at end of year$1,876 $4,192 
Summary of Stock Option Activity
A summary of stock option activity for the nine months ended September 30, 2023 is as follows:
Number of
Shares
Weighted-
Average
Option Price
per Share
Weighted-
Average
Remaining
Contractual
Life (Years)
Aggregate
Intrinsic
Value
Outstanding at January 1, 20232.8 $293.28 
Granted0.6 468.92 
Exercised(0.2)265.25 
Forfeited or expired(0.1)399.28 
Outstanding at September 30, 20233.1 324.74 6.25$370 
Exercisable at September 30, 20232.0 266.01 5.07$346 
A summary of stock option activity for the year ended December 31, 2022 is as follows:
Number of
Shares
Weighted-Average
Option Price
per Share
Weighted-Average
Remaining
Contractual Life
(Years)
Aggregate
Intrinsic
Value
Outstanding at January 1, 20222.9 $255.50 
Granted0.5 452.67 
Exercised(0.5)242.79 
Forfeited or expired(0.1)339.20 
Outstanding at December 31, 20222.8 293.28 6.35$622 
Exercisable at December 31, 20221.6 239.89 5.14$448 
Summary of Nonvested Restricted Stock Activity Including Restricted Stock Units
A summary of the status of nonvested restricted stock activity, including restricted stock units and performance units, for the nine months ended September 30, 2023 is as follows:
Restricted
Stock Shares
and Units
Weighted-
Average
Grant Date
Fair Value
per Share
Nonvested at January 1, 20231.2 $357.21 
Granted0.6 469.30 
Vested(0.6)301.90 
Forfeited(0.1)413.59 
Nonvested at September 30, 20231.1 423.34 
A summary of the status of nonvested restricted stock activity, including restricted stock units and performance units, for the year ended December 31, 2022 is as follows:
Restricted
Stock Shares
and Units
Weighted-Average
Grant Date
Fair Value
per Share
Nonvested at January 1, 20221.3 $299.65 
Granted0.6 453.70 
Vested(0.6)301.89 
Forfeited(0.1)347.73 
Nonvested at December 31, 20221.2 357.21 
Summary of Weighted-Average Assumptions Used to Estimate the Fair Value of Options Granted During the Periods
The following weighted-average assumptions were used to estimate the fair values of options granted during the nine months ended September 30, 2023 and 2022:
Nine Months Ended September 30
20232022
Risk-free interest rate3.95 %1.97 %
Volatility factor29.00 %29.00 %
Quarterly dividend yield0.316 %0.282 %
Weighted-average expected life (years)4.405.10
The following weighted-average assumptions were used to estimate the fair values of options granted during the years ended December 31, 2022, 2021 and 2020:
202220212020
Risk-free interest rate1.97 %1.44 %1.30 %
Volatility factor29.00 %30.00 %26.00 %
Dividend yield (annual)1.10 %1.50 %1.40 %
Weighted-average expected life (years)5.105.504.30
Schedule of Weighted-Average Fair Values Determined for the Periods
The following weighted-average fair values per option or share were determined for the nine months ended September 30, 2023 and 2022: 
Nine Months Ended September 30
20232022
Options granted during the period$127.08 $116.85 
Restricted stock awards granted during the period469.30 453.16 
The following weighted-average fair values were determined for the years ending December 31, 2022, 2021 and 2020:
202220212020
Options granted during the year$116.92 $79.91 $54.05 
Restricted stock awards granted during the year453.70 317.70 272.37