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Share-Based Compensation (Notes)
 12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Share-based Payment Arrangement [Text Block] Share-Based Compensation
The Company’s outstanding share-based awards consist mainly of non-qualified stock options and restricted shares. As of December 31, 2023, the Company had 53 million shares available for future grants of share-based awards under the 2020 Stock Incentive Plan. As of December 31, 2023, there were 17 million shares of common stock available for issuance under the ESPP.
Stock Options
Stock option activity for the year ended December 31, 2023 is summarized in the table below:
SharesWeighted-
Average
Exercise
Price		Weighted-
Average
Remaining
Contractual Life		Aggregate
Intrinsic Value
 (in millions) (in years)(in millions)
Outstanding at beginning of period23 $281 
Granted3 492 
Exercised(4)231 
Forfeited(1)443 
Outstanding at end of period21 320 5.5$4,451 
Exercisable at end of period13 248 4.23,595 
Vested and expected to vest, end of period21 318 5.54,430 
Restricted Shares
Restricted share activity for the year ended December 31, 2023 is summarized in the table below:
(shares in millions)SharesWeighted-Average
Grant Date
Fair Value
per Share
Nonvested at beginning of period4 $401 
Granted2 493 
Vested(2)393 
Nonvested at end of period4 449 
Other Share-Based Compensation Data
(in millions, except per share amounts)For the Years Ended December 31,
202320222021
Stock Options
Weighted-average grant date fair value of shares granted, per share$134 $116 $71 
Total intrinsic value of stock options exercised1,325 1,419 1,519 
Restricted Shares
Weighted-average grant date fair value of shares granted, per share493 483 352 
Total fair value of restricted shares vested$803 $760 $560 
Employee Stock Purchase Plan
Number of shares purchased1 1 1 
Share-Based Compensation Items
Share-based compensation expense, before tax$1,059 $925 $800 
Share-based compensation expense, net of tax effects937 836 719 
Income tax benefit realized from share-based award exercises231 207 173 
(in millions, except years)December 31, 2023
Unrecognized compensation expense related to share awards$1,134 
Weighted-average years to recognize compensation expense1.3
Share-Based Compensation Recognition and Estimates
The principal assumptions the Company used in calculating grant-date fair value for stock options were as follows:
For the Years Ended December 31,
 202320222021
Risk-free interest rate3.8% - 4.6%1.9% - 4.3%0.7% - 1.2%
Expected volatility29.7% - 30.6%30.6% - 30.8%29.2% - 29.8%
Expected dividend yield1.3% - 1.5%1.2%1.3% - 1.5%
Forfeiture rate5.0%5.0%5.0%
Expected life in years4.64.74.8
Risk-free interest rates are based on U.S. Treasury yields in effect at the time of grant. Expected volatilities are based on the historical volatility of the Company’s common stock and the implied volatility from exchange-traded options on the Company’s common stock. Expected dividend yields are based on the per share cash dividend paid by the Company. The Company uses historical data to estimate option exercises and forfeitures within the valuation model. The expected lives of options granted represent the periods of time the awards granted are expected to be outstanding based on historical exercise patterns.
Other Employee Benefit Plans
The Company offers a 401(k) plan for its employees. Compensation expense related to this plan was not material for the years ended December 31, 2023, 2022 and 2021.
In addition, the Company maintains non-qualified, deferred compensation plans, which allow certain members of senior management and executives to defer portions of their salary or bonus. The deferrals are recorded within long-term investments
with an approximately equal amount in other liabilities in the Consolidated Balance Sheets. The total deferrals are distributable based upon termination of employment or other periods, as elected under each plan and were $1.9 billion and $1.6 billion as of December 31, 2023 and 2022, respectively.