XML 41 R28.htm IDEA: XBRL DOCUMENT v3.25.4
Stock Compensation (Tables)
12 Months Ended
Dec. 31, 2025
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,
202520242023
COR$53 $52 $44 
R&D145 132 119 
SG&A221 203 199 
Total$419 $387 $362 
Schedule of Weighted Average Assumptions Used to Estimate the Fair Values for Non-qualified Stock Options
We estimate the fair values for stock options using the Black-Scholes-Merton option-pricing model with the following weighted average assumptions:
For Years Ended December 31,
202520242023
Weighted average grant date fair value, per share$44.97 $37.58 $46.23 
Weighted average assumptions used:
Expected volatility27 %27 %31 %
Expected lives (in years)5.65.66.1
Risk-free interest rates4.34 %4.04 %3.60 %
Expected dividend yields2.92 %3.11 %2.86 %
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, 2024
25 $136.87 $168.68 
Granted4 $186.55 1 $185.44 
Stock options exercised/RSUs vested(4)$91.90 (1)$172.33 
Outstanding grants, December 31, 2025 (a)
25 $151.34 6 $171.83 
(a)Forfeited and expired shares were not material.
For Years Ended December 31,
202520242023
Weighted average grant date fair value per share for RSUs$185.44 $173.59 $172.59 
Total grant date fair value of shares vested for RSUs$126 $113 $106 
Aggregate intrinsic value of options exercised$382 $597 $319 
Schedule of Shares Outstanding Under Stock Option Plans, by Exercise Price Range
Summarized information about stock options outstanding as of December 31, 2025, is as follows:
Exercise Price RangeNumber Outstanding (Shares)Weighted Average Remaining Contractual Life (Years)
$52.93 to $206.61
25 5.8
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)5.84.2
Weighted average exercise price per share$150.97 $133.57 
Intrinsic value (millions)$610 $589 
(a)Includes effects of expected forfeitures. Excluding the effects of expected forfeitures, the aggregate intrinsic value of stock options outstanding was $611 million.
Schedule of Changes in Treasury Stock The following table reflects the changes in our treasury shares:
For Years Ended December 31,
202520242023
Balance, January 1830 832 835 
Repurchases8 
Shares issued(4)(7)(5)
Balance, December 31834 830 832 
Schedule of Cash Proceeds Received from Share-based Payment Awards
The effects on cash flows are as follows:
For Years Ended December 31,
202520242023
Proceeds from common stock transactions (a)$400 $517 $263 
Tax benefit realized from stock compensation$113 $158 $104 
(a)Net of taxes paid for employee shares withheld of $34 million, $39 million and $46 million in 2025, 2024 and 2023, respectively.