Equity (Tables)

12 Months Ended

Dec. 31, 2025

Equity

Schedule of stock option activity

				Weighted
				Average	Aggregate
		Weighted		Remaining	Intrinsic
		Average		Contractual	Value
	Options	Exercise Price		Term (in years)	(in millions)
Options outstanding at January 1, 2023	132,270,074	$	22.78	6.03
Options granted	12,131,028		37.99
Options exercised	(22,506,662)		17.55
Options forfeited	(1,114,116)		29.16
Options outstanding at December 31, 2023	120,780,324		25.23	5.81
Options granted	8,075,819		65.67
Options exercised	(22,523,753)		19.83
Options forfeited	(628,199)		36.21
Options outstanding at December 31, 2024	105,704,191		29.40	5.53
Options granted	8,539,031		85.98
Options exercised	(24,655,244)		22.41
Options forfeited	(766,857)		47.92
Options outstanding at December 31, 2025	88,821,121	$	36.62	5.43	$	8,753.6
Vested and non-vested options expected to vest at December 31, 2025	86,782,652	$	36.14	5.38	$	8,591.3
Exercisable options at December 31, 2025	59,421,185	$	26.75	4.27	$	6,440.4

Summary of status of non-vested options and changes during the year

		Weighted Average
		Fair Value
	Options	at Grant Date
Non-vested options at January 1, 2025	35,547,254	$	10.66
Options granted	8,539,031		24.12
Options vested	(13,897,292)		8.36
Options forfeited	(762,057)		13.17
Non-vested options at December 31, 2025	29,426,936	$	15.58

Summary of activity in the option plans

	2025		2024		2023
Total intrinsic value of stock options exercised	$	1,813.5	$	980.3	$	559.6
Total fair value of stock options vested		116.1		99.7		90.0

Schedule of fair value of stock options estimated at the date of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions

	2025		2024		2023
Risk free interest rate	4.1	%	4.4	%	3.8	%
Expected life	4.9	years	4.9	years	4.9	years
Expected volatility	27.1	%	28.0	%	28.0	%
Expected dividend yield	1.0	%	1.0	%	1.0	%

Schedule of restricted stock activity

				Weighted Average
		Fair Value		Remaining
	Restricted	at Grant		Amortization
	Shares	Date		Term (in years)
Restricted shares outstanding at January 1, 2023	42,624	$	33.80	0.37
Restricted shares granted	—		—
Shares vested and issued	(42,624)		33.80
Restricted shares outstanding at December 31, 2023	—		—
Restricted shares granted	21,840		65.96
Shares vested and issued	—		—
Restricted shares outstanding at December 31, 2024	21,840		65.96	0.36
Restricted shares granted	16,520		86.88
Shares vested and issued	(21,840)		65.96
Restricted shares outstanding at December 31, 2025	16,520	$	86.88	0.37

Schedules of dividends

	2025		2024		2023
First Quarter	$	0.165	$	0.11	$	0.105
Second Quarter		0.165		0.11		0.105
Third Quarter		0.165		0.165		0.105
Fourth Quarter		0.25		0.165		0.11
Total	$	0.745	$	0.55	$	0.425

Dividends declared and paid for the years ended December 31, 2025, 2024 and 2023 were as follows:

	2025		2024		2023
Dividends declared	$	909.3	$	662.9	$	507.4
Dividends paid (including those declared in the prior year)		802.2		595.1		500.6

Schedule of components comprising Accumulated other comprehensive income (loss) included in equity

	Foreign		Unrealized		Pension and		Accumulated
	Currency		Gain (Loss)		Postretirement		Other
	Translation		on Hedging		Benefit Plan		Comprehensive
	Adjustments		Activities		Adjustment		(Loss) Income
Balance at January 1, 2023	$	(413.0)	$	—	$	(122.0)	$	(535.0)
Other comprehensive income (loss) before reclassifications, net of tax of nil, nil and $1.1, respectively		0.3		—		(2.0)		(1.7)
Amounts reclassified from Accumulated other comprehensive income (loss) to earnings, net of tax of ($1.0)		—		—		3.1		3.1
Balance at December 31, 2023		(412.7)		—		(120.9)		(533.6)
Other comprehensive income (loss) before reclassifications, net of tax of nil, nil and ($5.2), respectively		(199.3)		—		13.1		(186.2)
Amounts reclassified from Accumulated other comprehensive income (loss) to earnings, net of tax of ($1.1)		—		—		3.5		3.5
Balance at December 31, 2024		(612.0)		—		(104.3)		(716.3)
Other comprehensive income (loss) before reclassifications, net of tax of nil, ($20.6) and ($4.5), respectively		285.4		(67.4)		14.6		232.6
Amounts reclassified from Accumulated other comprehensive income (loss) to earnings, net of tax of $0.2 and ($1.1), respectively		—		0.7		3.5		4.2
Balance at December 31, 2025	$	(326.6)	$	(66.7)	$	(86.2)	$	(479.5)