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Stock Compensation (Tables)
12 Months Ended
Dec. 31, 2024
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,
202420232022
COR$52 $44 $34 
R&D132 119 90 
SG&A203 199 165 
Total$387 $362 $289 
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,
202420232022
Weighted average grant date fair value, per share$37.58 $46.23 $39.94 
Weighted average assumptions used:
Expected volatility27 %31 %29 %
Expected lives (in years)5.66.16.4
Risk-free interest rates4.04 %3.60 %1.83 %
Expected dividend yields3.11 %2.86 %2.64 %
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, 2023
26 $119.60 $161.40 
Granted5 $167.68 2 $173.59 
Stock options exercised/RSUs vested(6)$82.42 (1)$131.82 
Outstanding grants, December 31, 2024 (a)
25 $136.87 6 $168.68 
(a)Forfeited and expired shares were not material.
For Years Ended December 31,
202420232022
Weighted average grant date fair value per share for RSUs$173.59 $172.59 $174.39 
Total grant date fair value of shares vested for RSUs$113 $106 $121 
Aggregate intrinsic value of options exercised$597 $319 $336 
Schedule of Shares Outstanding Under Stock Option Plans, by Exercise Price Range
Summarized information about stock options outstanding as of December 31, 2024, is as follows:
Exercise Price RangeNumber Outstanding (Shares)Weighted Average Remaining Contractual Life (Years)
$49.03 to $206.61
25 5.7
Schedule of Stock Options That are Vested and Expected to Vest, Outstanding and Exercisable
Options Fully Vested and Expected to Vest (a)Options Exercisable
Stock options outstanding (shares)24 15 
Weighted average remaining contractual life (in years)5.74.0
Weighted average exercise price per share$136.44 $114.61 
Intrinsic value (billions)$1.24 $1.08 
(a)Includes effects of expected forfeitures. Excluding the effects of expected forfeitures, the aggregate intrinsic value of stock options outstanding was $1.24 billion.
Schedule of Changes in Treasury Stock The following table reflects the changes in our treasury shares:
For Years Ended December 31,
202420232022
Balance, January 1832 835 817 
Repurchases5 22 
Shares issued(7)(5)(4)
Balance, December 31830 832 835 
Schedule of Cash Proceeds Received from Share-based Payment Awards
The effects on cash flows are as follows:
For Years Ended December 31,
202420232022
Proceeds from common stock transactions (a)$517 $263 $241 
Tax benefit realized from stock compensation$158 $104 $110 
(a)Net of taxes paid for employee shares withheld of $39 million, $46 million and $50 million in 2024, 2023 and 2022, respectively.