XML 95 R65.htm IDEA: XBRL DOCUMENT v3.24.0.1
Long-term Equity-based Compensation (Tables)
12 Months Ended
Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
The assumptions used in the Black-Scholes pricing model for Tandem Awards granted during the years ended December 31, 2023, 2022 and 2021 are presented below.
202320222021
RANGE OF VALUATION ASSUMPTIONS
Expected Volatility35.12 %-39.27 %33.20 %-37.67 %33.67 %-38.04 %
Risk-free Interest Rate3.47 -4.74 1.20 -4.33 0.26 -1.33 
Expected Dividend Yield1.55 -2.39 1.59 -2.25 1.18 -1.78 
WEIGHTED-AVERAGE EXPECTED LIFE IN YEARS
Employee Grants4-64-64-6
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award
Tandem Award activity for the year ended December 31, 2023 is presented below.
Shares
Subject to
Awards
Weighted-
average
Exercise Price
Per Share ($)
Weighted-
average
Remaining
Contractual
Life (in Years)
Aggregate
Intrinsic
Value
($ In Millions)
Outstanding at Beginning of the Year2,325,576 $59.10 
Granted239,026 58.19 
Exercised(50,297)37.57 
Forfeited or Expired(140,986)62.41 
Outstanding at December 31, 20232,373,319 $59.27 5.39$5.4 
Vested and Expected to Vest at December 31, 20232,320,371 $59.31 5.32$5.4 
Exercisable at December 31, 20231,801,418 $59.92 4.45$5.4 
Schedule of Options Outstanding
Information pertaining to Tandem Awards outstanding at December 31, 2023 is presented below.
OutstandingExercisable
Range of Exercise Prices ($)Shares
Subject to
Awards
Weighted-
average
Exercise Price
Per Share ($)
Weighted-
average
Remaining
Contractual
Life (in Years)
Shares
Subject to
Awards
Weighted-
average
Exercise Price
Per Share ($)
$20.01 -30.00 104,562 $27.71 2.17104,562 $27.71 
30.01 -40.00 80,219 33.97 1.7580,219 33.97 
40.01 -50.00 333,156 42.64 2.93323,069 42.48 
50.01 -60.00 941,827 56.23 6.72463,930 57.31 
60.01 -70.00 311,236 69.22 6.42229,511 69.04 
70.01 -80.00 575,358 76.61 5.13574,467 76.61 
80.01 -90.00 26,961 83.39 5.8125,660 83.51 
20.01 -90.00 2,373,319 59.27 5.391,801,418 59.92 
Schedule of Share-based Compensation, Nonemployee Director Deferred Stock Unit Award Plan, Activity
Activity related to DSU awards for the year ended December 31, 2023 is presented below.
Number of DSUsWeighted-
average
Grant-date
Fair Value
Per DSU
Vested Balance at Beginning of the Year36,600 $45.25 
Reduction for Shares Issued on Conversion(8,220)42.43 
Vested Balance at December 31, 2023
28,380 $46.07 
Time Vested Restricted Stock Units  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Share-based Compensation, Restricted Stock Units and Performance Stock Units Activity
Activity related to nonvested RSUs for the year ended December 31, 2023 is presented below.
Time-based Restricted Stock Unit Awards
Number of Restricted Stock Units Weighted-
average
Grant-date
Fair Value
Per Unit
Nonvested Balance at Beginning of the Year478,254 $53.78 
Granted254,991 56.79 
Vested(96,855)54.91 
Forfeited(68,074)55.20 
Nonvested Balance at December 31, 2023
568,316 $54.77 
Performance Based Restricted Stock Units  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Share-based Compensation, Restricted Stock Units and Performance Stock Units Activity
Activity related to nonvested PSU awards for the year ended December 31, 2023 is presented below.
PSU Awards
Number of PSUsWeighted-
average
Grant-date
Fair Value
Per PSU
Nonvested Balance at Beginning of the Year610,574 $68.78 
Granted211,236 66.59 
Vested(480)77.37 
Forfeited(240,023)78.85 
Nonvested Balance at December 31, 2023
581,307 $63.82