Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Share-based Compensation, Stock Options, Activity

($ in millions)	2023	2022	2021
Total stock-based compensation	$59	$35	$57
Income tax benefit recognized	$12	$8	$12

Weighted Average Assumptions Used in Calculating the Fair Value of Stock Option

The following weighted average assumptions were used to calculate the fair values of stock option grants in each year:

	2023		2022		2021
Weighted average exercise price	$130.17		$151.87		$136.60
Risk-free interest rate	3.9	%	2.0	%	1.0	%
Expected life of option in years	6.5		6.5		6.5
Expected dividend yield	1.7	%	1.6	%	1.6	%
Expected volatility	27.8	%	25.7	%	25.3	%

Stock Options Outstanding, Exercisable and Activity

Stock Options Outstanding and Exercisable	Number of Shares	Weighted Average Exercise Price	Weighted Average Remaining Contractual Life (in years)	Intrinsic Value (in millions)
Outstanding, January 1, 2023	3,517,451	$117.16	5.7
Granted	410,001	$130.17
Exercised	(566,439)	$96.64
Forfeited/Expired	(42,250)	$138.64
Outstanding, December 31, 2023	3,318,763	$122.00	5.7	$92
Vested or expected to vest, December 31, 2023	3,225,942	$121.44	5.6	$92
Exercisable, December 31, 2023	2,042,184	$110.97	4.1	$79

Stock Option Activity

The following table presents stock option activity for the years ended December 31, 2023, 2022 and 2021:

($ in millions)	2023	2022	2021
Total intrinsic value of stock options exercised	$24	$12	$32
Cash received from stock option exercises	$55	$12	$47
Income tax benefit from the exercise of stock options	$6	$3	$8
Total fair value of stock options vested	$10	$16	$11

RSU Activity

RSU Activity	Number of Shares	Weighted Average Grant Date Fair Value
Outstanding, January 1, 2023	589,388	$136.99
Granted	321,045	$130.63
Vested	(271,037)	$131.14
Forfeited	(33,455)	$136.26
Outstanding, December 31, 2023	605,941	$137.96
Vested or expected to vest, December 31, 2023	569,073	$137.94