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Stock-Based Compensation Programs (Tables)
12 Months Ended
Dec. 31, 2022
Stock-Based Compensation Programs  
Summary of stock option activity

Number of

Weighted Average

    

Shares

    

Exercise Price

Beginning of year

9,766,096

$

46.66

Granted

1,160,180

86.31

Exercised

(1,186,020)

32.58

Canceled/forfeited

(388,372)

77.72

End of period

9,351,884

52.07

Vested and exercisable, end of year

6,656,599

$

41.21

Reserved for future grants

12,933,109

Schedule of weighted average assumptions used for estimating fair values of options

2022 Grants

2021 Grants

2020 Grants

Expected dividend yield

0.92

%  

0.70

%  

0.83

%  

Expected stock price volatility

25.56

%  

25.08

%  

20.84

%  

Risk-free interest rate

1.77

%  

0.61

%  

1.47

%  

Expected life of options (in years)

6.10

years  

6.25

years  

6.40

years  

Summary of restricted stock activity

Weighted

Number of

Average

    

Shares/Units

    

Grant Price

Beginning of year

1,246,404

$

56.64

Granted

420,731

75.82

Vested

(412,367)

53.62

Canceled/forfeited

(50,266)

79.55

End of year

1,204,502

$

63.06