EQUITY-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of RSU and RSA activity

A summary of the RSU and RSA activity for 2023 is as follows:

(Restricted stock units and awards in millions)	Number of restricted stock units and awards	Weighted-average fair value per unit and award
Non-vested at January 1	1.0	$	127.33
Granted	0.4	173.72
Vested	(0.5)	123.84
Forfeited	—	157.61
Non-vested at December 31	0.9	$	150.55

Schedule of Information Related to RSUs and RSAs

Information related to RSUs and RSAs is as follows:

(In millions)	2023		2022		2021
Pre-tax expense for RSUs and RSAs	$	65	$	65	$	61
After-tax expense for RSUs and RSAs	51		51		48
Fair value of vested RSUs and RSAs	84		98		92

Schedule of Assumptions Used in Determining Fair Value of PSUs

A summary of the assumptions used in determining fair value of these PSUs is as follows:

	2023			2022			2021
Expected volatility	27		%	35		%	35		%
Risk-free interest rate	4.35		%	1.71		%	0.20		%
Weighted-average fair value of PSUs granted	$	203.18		$	171.63		$	159.74

Schedule of PSU Activity

A summary of these PSUs that vested is as follows:

(Performance share units in millions)	2023		2022		2021
Percent payout	187	%	178	%	189	%
Shares vested	0.3		0.4		0.5

A summary of the 2023 activity for these PSUs is as follows:

(Performance share units in millions)	Number of performance share units	Weighted-average fair value per unit
Non-vested at January 1	0.3	$	141.88
Granted1	0.2	203.18
Adjusted for performance results achieved2	0.1	159.74
Vested	(0.3)	159.74
Non-vested at December 31	0.3	$	162.67

1 Performance shares granted assuming the Company will perform at target relative to peers.

2 Adjustments for the number of shares vested under the 2021 awards at the end of the three-year performance period ended December 31, 2023, being higher than the target number of shares.

Schedule of Information Related to PSUs

Information related to PSUs is as follows:

(In millions)	2023		2022		2021
Pre-tax expense for PSUs	$	22	$	21	$	26
After-tax expense for PSUs	17		17		21

Schedule of Assumptions Used in Determining Fair Value of Stock Options

A summary of the assumptions used in determining the fair value of stock options is as follows:

	2023			2022			2021
Expected volatility	27		%	27		%	28		%
Expected option life in years	6.3			6.6			6.5
Expected dividend yield	2.0		%	2.0		%	3.0		%
Risk-free interest rate	4.1 to 4.3%			0.3 to 3.0%			0.0 to 1.5%
Weighted-average fair value of stock options granted	$	48.79		$	36.56		$	26.11

Schedule of Stock Option Activity

A summary of stock option activity is as follows:

(Options in millions)	Weighted-average exercise price per option		Options	Weighted-average remaining contractual life in years	Aggregate intrinsic value
Outstanding at January 1, 2023	$	91.15	3.0
Granted	173.26		0.2
Exercised	80.23		(1.0)
Outstanding at December 31, 2023	$	103.76	2.2	5.6	$	303.6
Exercisable at December 31, 2023	$	88.53	1.7	4.7	$	260.6
Reserved for future grants at December 31, 2023			19.3

Schedule of Information Related to Stock Options

Information related to stock options is as follows:

(In millions)	2023		2022		2021
Pre-tax expense for stock options	$	10	$	11	$	14
After-tax expense for stock options	8		9		11
Proceeds from stock options exercised	78		28		63
Income tax benefit related to stock options exercised
Tax benefit classified in operating activities in the Consolidated    Statements of Cash Flows	22		6		13
Intrinsic value of stock options exercised	116		29		69
Total fair value of stock options vested	$	10	$	11	$	14
Stock options exercised	1.0		0.4		0.9