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STOCK-BASED COMPENSATION PLANS (Tables)
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Income Statement Impact from Stock Options
The following table summarizes the impact to the Consolidated Statement of Operations from stock options:
 Years Ended December 31,
202420232022
Compensation expense$52 $48 $45 
Future income tax benefit recognized12 11 10 
Share-based Compensation Fair Value Assumptions
The following table sets forth fair value per share information, including related weighted average assumptions, used to determine compensation cost:
 Years Ended December 31,
202420232022
Weighted average fair value per share of options granted during the year1
$37.88 $38.84 $31.22 
Assumptions
Expected annual dividend yield2.60 %2.50 %2.58 %
Expected volatility21.45 %22.42 %23.05 %
Risk-free rate of return4.08 %3.94 %1.97 %
Expected option term (years)4.874.864.74
1Estimated on date of grant using Black-Scholes option-pricing model.
Stock Options Activity
The following table summarizes information about stock option activity for the three years ended December 31, 2024:
Number of
Options
(in millions)		Weighted Average
Exercise Price
Outstanding at December 31, 202115.9 $135.31 
Granted2.1 189.53 
Exercised(3.0)103.89 
Lapsed or canceled(0.9)186.35 
Outstanding at December 31, 202214.1 147.14 
Granted1.6 195.27 
Exercised(1.7)123.12 
Lapsed or canceled(0.6)192.22 
Outstanding at December 31, 202313.4 153.86 
Granted1.6 198.20 
Exercised(4.2)125.30 
Lapsed or canceled(0.4)195.71 
Outstanding at December 31, 202410.4 $170.29 
Vested and expected to vest at December 31, 20241
9.5 $168.07 
Exercisable at December 31, 20246.9 $157.58 
1
Represents the sum of vested options of 6.9 million and expected to vest options of 2.6 million. Expected to vest options are derived by applying the pre-vesting forfeiture rate assumption to total outstanding unvested options of 3.4 million.
Schedule of Share Based Compensation by Price Ranges
The following table summarizes information about stock options outstanding and exercisable as of December 31, 2024:
Range of Exercise PricesOptions OutstandingOptions Exercisable
Number
Outstanding (in millions)
Weighted
Average Life1
Weighted
Average
Exercise
Price Per Share
Aggregate
Intrinsic
Value		Number
Exercisable (in millions)
Weighted
Average
Exercise
Price Per Share
Aggregate
Intrinsic
Value
$90.00 –$99.99
0.9 1.13$98.70 $110 0.9 $98.70 $110 
$100.00 –$134.99
1.2 2.23120.13 127 1.2 120.13 127 
$135.00 –$189.99
4.4 4.94172.11 236 3.7 168.81 227 
$190.00 –$232.60
3.9 7.74199.48 103 1.1 202.44 80 
10.4 5.36$170.29 $576 6.9 $157.58 $544 
1Average remaining contractual life in years.
Financial Statement Impact From Stock Options Exercised
The following table summarizes the financial statement impact from stock options exercised:
Years Ended December 31,
202420232022
Intrinsic value1
$357 $122 $310 
Tax benefit realized76 27 71 
1Represents the amount by which the stock price exceeded the exercise price of the options on the date of exercise.
Restricted Stock Units Activity
The following table summarizes information about RSU activity for the three years ended December 31, 2024:
Number of
Restricted
Stock Units
(in millions)		Weighted
Average
Grant Date
Fair Value
Per Share
Non-vested at December 31, 20213.0 $171.73 
Granted1.0 186.48 
Vested(0.9)157.21 
Forfeited(0.4)177.38 
Non-vested at December 31, 20222.7 181.10 
Granted1.1 194.81 
Vested(0.9)171.92 
Forfeited(0.3)187.13 
Non-vested at December 31, 20232.6 189.18 
Granted1.0 200.44 
Vested(0.8)185.70 
Forfeited(0.3)191.68 
Non-vested at December 31, 20242.5 $194.85 
Income Statement Impact from RSUs
The following table summarizes the impact to the Consolidated Statement of Operations from RSUs:
 Years Ended December 31,
202420232022
Compensation expense$142 $154 $143 
Future income tax benefit recognized30 32 29