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Stock-Based Compensation Programs (Tables)
12 Months Ended
Dec. 31, 2024
Stock-Based Compensation Programs  
Summary of stock option activity

Number of

Weighted Average

    

Shares

    

Exercise Price

Beginning of year

8,905,005

$

55.48

Granted

1,243,386

56.24

Exercised

(834,946)

36.35

Canceled/forfeited

(400,841)

66.33

End of period

8,912,604

56.87

Vested and exercisable, end of year

6,383,684

$

53.96

Reserved for future grants

10,254,726

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

2024 Grants

2023 Grants

2022 Grants

Expected dividend yield

1.42

%  

1.41

%  

0.92

%  

Expected stock price volatility

31.51

%  

30.11

%  

25.56

%  

Risk-free interest rate

4.07

%  

3.52

%  

1.77

%  

Expected life of options (in years)

5.84

5.80

6.10

Summary of restricted stock activity

Weighted

Number of

Average

    

Shares/Units

    

Grant Price

Beginning of year

1,345,245

$

57.44

Granted

368,551

58.88

Vested

(264,801)

52.49

Canceled/forfeited

(328,909)

72.87

End of year

1,120,086

$

54.07