Incentive Stock Program (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Stock Option Activity

The following table summarizes stock option activity for the year ended December 31, 2024 and the outstanding stock options as of December 31, 2024.

(intrinsic values in millions)	Options	Weighted Average Exercise Price		Weighted Average Remaining Life (Years)	Aggregate Intrinsic Value
Outstanding at December 31, 2023	28,569,075	$	74.52	4.8	$	1,073
Granted	1,683,097	116.88
Exercised	(3,593,503)	47.26
Lapsed	(111,920)	119.40
Outstanding at December 31, 2024	26,546,749	$	80.70	4.6	$	906
Exercisable at December 31, 2024	22,712,676	$	75.20	3.9	$	897

Schedule of Restricted Stock

The following table summarizes restricted stock awards and units activity for the year ended December 31, 2024.

	Share Units	Weighted Average Grant-Date Fair Value
Outstanding at December 31, 2023	10,278,286	$	112.51
Granted	5,745,647	116.78
Vested	(4,978,325)	115.35
Forfeited	(536,036)	112.82
Outstanding at December 31, 2024	10,509,572	$	113.48

Schedule of Fair Value Assumptions

The table below summarizes the fair value of an option granted in 2024, 2023 and 2022 and the assumptions included in the Black-Scholes option-pricing model used to estimate the fair value:

	2024			2023			2022
Fair value	$	31.10		$	26.87		$	25.26
Risk-free interest rate	4.3		%	4.0		%	1.9		%
Average life of options (years)	6.0			6.0			6.0
Volatility	25.2		%	24.4		%	23.8		%
Dividend yield	1.9		%	1.9		%	1.6		%