Incentive Stock Program (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Stock Option Activity

The following table summarizes stock option activity for the year ended December 31, 2023 and the outstanding stock options as of December 31, 2023.

(intrinsic values in millions)	Options	Weighted Average Exercise Price		Weighted Average Remaining Life (Years)	Aggregate Intrinsic Value
Outstanding at December 31, 2022	28,288,046	$	70.64	5.3	$	1,167
Granted	2,027,255	106.03
Exercised	(1,664,222)	44.71
Lapsed	(82,004)	122.08
Outstanding at December 31, 2023	28,569,075	$	74.52	4.8	$	1,073
Exercisable at December 31, 2023	23,921,284	$	66.90	4.1	$	1,064

Schedule of Restricted Stock

The following table summarizes restricted stock awards and units activity for the year ended December 31, 2023.

	Share Units	Weighted Average Grant-Date Fair Value
Outstanding at December 31, 2022	10,400,328	$	114.59
Granted	5,455,600	106.11
Vested	(5,069,639)	109.81
Forfeited	(508,003)	113.48
Outstanding at December 31, 2023	10,278,286	$	112.51

Schedule of Fair Value Assumptions

The table below summarizes the fair value of an option granted in 2023, 2022 and 2021 and the assumptions included in the Black-Scholes option-pricing model used to estimate the fair value:

	2023			2022			2021
Fair value	$	26.87		$	25.26		$	24.17
Risk-free interest rate	4.0		%	1.9		%	0.8		%
Average life of options (years)	6.0			6.0			6.0
Volatility	24.4		%	23.8		%	23.8		%
Dividend yield	1.9		%	1.6		%	1.5		%