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Equity Incentive Plans (Tables)
 12 Months Ended
Dec. 31, 2024
Equity Incentive Plans [Abstract]  
Schedule of Equity Awards
The following table provides the amounts of total compensation expense for the equity incentive plans and the total related tax benefits recognized.
For the year ended December 31,
($ in millions)202420232022
Compensation expense$125 $73 $93 
Income tax benefits18 12 16 
The following table provides the amounts of cash received from exercise of options and the related tax benefits realized on options exercised.
For the year ended December 31,
($ in millions)202420232022
Cash received from exercise of options$189 $103 $130 
Tax benefit realized on options exercised
32 16 21 
Schedule of Nonvested Awards
Nonvested awards as of December 31, 2024
($ in millions)Unrecognized compensationWeighted average vesting period
Nonqualified stock options$16 1.58
Restricted stock units47 1.72
Performance stock awards31 1.53
Total$94 
Schedule of Option Grant Assumptions
Option grant assumptions
202420232022
Weighted average expected term
5.7 years
5.8 years
5.9 years
Expected volatility
21.2% - 31.6%
20.0% - 31.6%
19.8% - 29.9%
Weighted average volatility25.4 %24.9 %23.2 %
Expected dividends
1.8% - 2.4%
2.4% - 3.3%
2.5% - 3.0%
Weighted average expected dividends2.3 %2.6 %2.8 %
Risk-free rate
3.6% - 5.6%
3.3% - 5.6%
0.0% - 4.8%
Schedule of Option Activity
Summary of option activity
For the year ended December 31, 2024
Number
(in thousands)
Weighted average exercise price
Aggregate intrinsic value
(in thousands)
Weighted average remaining contractual term (years)
Outstanding as of January 1, 20248,127 $102.37 
Granted626 159.38 
Exercised(2,247)93.24 
Forfeited(111)142.84 
Expired(2)115.48 
Outstanding as of December 31, 20246,393 110.46 $526,379 5.2
Outstanding, net of expected forfeitures6,366 110.28 525,274 5.2
Outstanding, exercisable (“vested”)4,952 101.08 454,094 4.3
Schedule of Changes in Restricted Stock Units
Changes in restricted stock units
For the year ended December 31, 2024
Number
(in thousands)
Weighted average grant date fair value
Nonvested as of January 1, 2024902 $117.05 
Granted365 160.44 
Vested(362)122.80 
Forfeited(65)138.89 
Nonvested as of December 31, 2024840 131.93 
Schedule of Changes in Performance Stock Awards
Changes in performance stock awards
For the year ended December 31, 2024
Number
(in thousands)
Weighted average grant date fair value
Nonvested as of January 1, 2024734 $120.68 
Granted251 159.29 
Adjustment for performance achievement(154)105.23 
Vested(140)108.27 
Forfeited(49)143.30 
Nonvested as of December 31, 2024642 140.46 
Schedule of Performance Stock Awards Assumptions
Performance stock awards grant assumptions
202420232022
Expected term
2.9 years
2.9 years
2.9 years
Expected volatility27.2 %24.8 %30.4 %
Average peer volatility
23.3 %29.9 %34.2 %
Risk-free rate4.5 %1.7 %1.7 %