Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Stock Based Compensation Activity

The activity related to RSUs consisted of (in thousands of shares):

	Number of Shares	Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Term (years)	Aggregate Intrinsic Value (in millions)
Time-based RSUs
Outstanding at January 1, 2024	290	$	161.87
Granted (a)	134	111.39
Vested (b)	(120)	137.08
Forfeited	(23)	163.81
Outstanding and expected to vest at September 30, 2024 (c)	281	$	148.16	1.4	$	25
Performance-based RSUs
Outstanding at January 1, 2024	411	$	128.77
Granted (a)	150	112.44
Vested (b)	(222)	68.54
Forfeited	(25)	175.36
Outstanding at September 30, 2024	314	$	159.74	1.6	$	28
Outstanding and expected to vest at September 30, 2024 (c)	64	$	192.77	1.6	$	6

________

(a)Reflects the maximum number of stock units assuming achievement of all performance- and time-vesting criteria and does not include those for non-employee directors. The weighted-average fair value of time-based RSUs and performance-based RSUs granted during the nine months ended September 30, 2023 was $209.08 and $208.64, respectively.

(b)The total fair value of RSUs vested during the nine months ended September 30, 2024 and 2023 was $32 million and $21 million, respectively.

(c)Aggregate unrecognized compensation expense related to time-based and performance-based RSUs amounted to $28 million and will be recognized over a weighted average vesting period of 1.4 years.