Equity-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

Equity-Based Compensation

Summary of RSUs

		Weighted Average
		Per Share
	Units	Fair Value
Unvested as of January 1, 2023	365	$	131.26
Granted	120	$	151.70
Vested	(97)	$	123.85
Forfeited	(17)	$	141.17
Unvested as of December 31, 2023	371	$	139.37

Summary of PSUs

		Weighted Average
		Per Share
	Units	Fair Value
Unvested as of January 1, 2023	864	$	147.00
Granted	316	$	163.80
Vested	(279)	$	153.34
Forfeited	(20)	$	157.83
Unvested as of December 31, 2023	881	$	150.77

Summary of Stock Options

		Weighted Average
		Per Share
	Options	Exercise Price
Outstanding as of January 1, 2023	2,923	$	101.22
Granted	437	$	150.12
Exercised (a)	(597)	$	89.32
Forfeited or expired	(34)	$	136.56
Outstanding as of December 31, 2023 (b)	2,729	$	111.22
Exercisable as of December 31, 2023 (c)	1,819	$	96.67

(a) Includes approximately 83,000 stock options exercised pursuant to a written trading plan that provided for net share settlement, resulting in the Company withholding approximately 70,000 shares of our common stock to cover the associated stock option exercise price and taxes.

(b) Stock options outstanding as of December 31, 2023 have a weighted average remaining contractual term of 6.0 years and an aggregate intrinsic value of $185 million based on the market value of our common stock on December 31, 2023.

(c) Stock options exercisable as of December 31, 2023 have an aggregate intrinsic value of $150 million based on the market value of our common stock on December 31, 2023.

Summary of Exercisable Stock Options

		Weighted Average
		Per Share		Weighted Average
Range of Exercise Prices	Options	Exercise Price		Remaining Years
$41.37-$80.00	570	$	61.39	2.2
$80.01-$120.00	727	$	99.55	5.6
$120.01-$150.12	522	$	131.14	6.7
$41.37-$150.12	1,819	$	96.67	4.8

Weighted Average Assumptions Used to Value Employee Stock Options Granted

	2023		2022		2021
Expected option life	4.6	years	4.7	years	4.7	years
Expected volatility	22.3	%	23.4	%	23.2	%
Expected dividend yield	1.9	%	1.8	%	2.1	%
Risk-free interest rate	4.4	%	1.6	%	0.6	%