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Stock Compensation (Tables)
 12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Compensation Expense Allocation Within the Consolidated Statements of Income
Total stock compensation expense recognized is as follows:
For Years Ended December 31,
202320222021
COR$44 $34 $21 
R&D119 90 67 
SG&A199 165 134 
Restructuring charges/other— — 8 
Total$362 $289 $230 
Schedule of Weighted Average Assumptions Used to Estimate the Fair Values for Non-qualified Stock Options
We estimate the fair values for non-qualified stock options using the Black-Scholes-Merton option-pricing model with the following weighted average assumptions:
For Years Ended December 31,
202320222021
Weighted average grant date fair value, per share$46.23 $39.94 $40.78 
Weighted average assumptions used:
Expected volatility31 %29 %32 %
Expected lives (in years)6.16.46.7
Risk-free interest rates3.60 %1.83 %0.72 %
Expected dividend yields2.86 %2.64 %2.41 %
Schedule of Stock Option and RSU Transactions Under Long-term Incentive and Director Compensation Plans
Stock option and RSU transactions under our long-term incentive and director compensation plans are as follows:
Stock OptionsRSUs
SharesWeighted Average Exercise Price per ShareSharesWeighted Average Grant Date Fair Value per Share
Outstanding grants, December 31, 2022
25 $105.75 5 $147.30 
Granted4 $173.90 2 $172.59 
Stock options exercised/RSUs vested(3)$71.16 (2)$108.04 
Outstanding grants, December 31, 2023 (a)
26 $119.60 5 $161.40 
(a)Forfeited and expired shares were not material.
For Years Ended December 31,
202320222021
Weighted average grant date fair value per share for RSUs$172.59 $174.39 $176.08 
Total grant date fair value of shares vested for RSUs$106 $121 $115 
Aggregate intrinsic value of options exercised$319 $336 $611 
Schedule of Shares Outstanding Under Stock Option Plans, by Exercise Price Range
Summarized information about stock options outstanding as of December 31, 2023, is as follows:
Stock Options Outstanding
Exercise Price RangeNumber Outstanding (Shares)Weighted Average Remaining Contractual Life (Years)
$44.09 to $193.58
26 5.3
Schedule of Stock Options That are Vested and Expected to Vest, Outstanding and Exercisable
Options Fully Vested and Expected to Vest (a)Options Exercisable
Options outstanding (shares)26 17 
Weighted average remaining contractual life (in years)5.33.9
Weighted average exercise price per share$119.08 $95.21 
Intrinsic value (billions)$1.34 $1.30 
(a)Includes effects of expected forfeitures. Excluding the effects of expected forfeitures, the aggregate intrinsic value of stock options outstanding was $1.34 billion.
Schedule of Changes in Treasury Stock The following table reflects the changes in our treasury shares:
For Years Ended December 31,
202320222021
Balance, January 1835 817 821 
Repurchases2 22 3 
Shares issued(5)(4)(7)
Balance, December 31832 835 817 
Schedule of Cash Proceeds Received from Share-based Payment Awards
The effects on cash flows are as follows:
For Years Ended December 31,
202320222021
Proceeds from common stock transactions (a)$263 $241 $377 
Tax benefit realized from stock compensation104 110 175 
(a)Net of taxes paid for employee shares withheld of $46 million, $50 million and $53 million in 2023, 2022 and 2021, respectively.