Share-Based Payment Arrangement [Text Block] | 17. 401K We have established the KSOP for the benefit of eligible employees in the U.S. and Puerto Rico. The KSOP includes both an employee savings component and an employee stock ownership component. The purpose of the combined plan is to enable our employees to participate in a tax-deferred savings arrangement under Internal Revenue Servic e Code Sections 401 401 Under the KSOP, eligible employees may 401 401 2024 , $22.5 thousand for 2023 and $20.5 thousand for 2022 . Certain eligible participants (age 50 and older) may 2024 and 2023 , and $6.5 thousand for 2022 .After-tax contributions are limited to 10.0% of a participant’s compensation. Effective January 1, 2019, first 401 December 31, 2024, 2023, 2022 , were $33.8 million, $32.4 million, and $40.0 million, respectively; which, at our option, were funded in cash. In 2005, March 1, 2005. 1,000 December 31 four 1,000 December 31, 2024, 2023, 2022 , there were no profit sharing contributions. Equity Compensation Plans All of our outstanding stock options, restricted stock awards, deferred stock units, and PSUs are covered under our 2021 2013 2021 may one 2021 December 31, 2024 , there were 12,813,327 shares of common stock reserved and available for future issuance under our 2021 December 31, 2024 December 31, 2023 was $124.8 million and $141.9 million, respectively. We issued common stock under these plans from our treasury shares. We have granted equity awards to key employees and directors. The ultimate realization of the PSUs may A summary of the status of the stock options, restricted stock, and PSUs awarded under our 2021 December 31, 2024, 2023, 2022 Stock Option Restricted Stock PSU Weighted Weighted Weighted Average Average Average Aggregate Grant Date Grant Date Number Exercise Intrinsic Number Fair Value Number Fair Value of Options Price Value of Shares Per Share of Shares Per Share (in millions) Outstanding at January 1, 2022 5,067,098 $ 115.73 $ 572.6 351,504 $ 161.33 163,123 $ 192.99 Granted 653,802 $ 196.64 201,617 $ 193.33 111,333 $ 168.63 Dividend reinvestment — $ — — $ — 1,371 N/A Exercised or lapsed (1,435,673 ) $ 92.38 $ 129.1 (205,407 ) $ 157.22 (54,927 ) $ 174.42 Canceled, expired or forfeited (261,411 ) $ 181.48 (40,139 ) $ 182.35 (21,406 ) $ 202.55 Outstanding at December 31, 2022 4,023,816 $ 132.90 $ 193.3 307,575 $ 182.07 199,494 $ 195.34 Granted 211,945 $ 185.29 194,236 $ 185.22 48,486 $ 212.86 Dividend reinvestment — $ — — $ — 1,142 N/A Exercised or lapsed (1,295,815 ) $ 108.85 $ 118.1 (178,602 ) $ 179.39 (45,997 ) $ 192.93 Canceled, expired or forfeited (227,436 ) $ 187.56 (32,170 ) $ 183.25 (21,889 ) $ 207.27 Outstanding at December 31, 2023 2,712,510 $ 143.91 $ 257.6 291,039 $ 186.28 181,236 $ 199.62 Granted 203,884 $ 237.10 155,304 $ 237.93 47,838 $ 265.94 Dividend reinvestment — $ — — $ — 1,073 N/A Exercised or lapsed (976,351 ) $ 127.80 $ 124.8 (120,287 ) $ 188.06 (47,821 ) $ 210.07 Canceled, expired or forfeited (29,710 ) $ 199.81 (18,515 ) $ 207.81 (1,870 ) $ 210.07 Outstanding at December 31, 2024 1,910,333 $ 161.16 $ 218.3 307,541 $ 210.62 180,456 $ 205.10 Exercisable at December 31, 2024 1,345,181 $ 142.14 $ 179.3 Exercisable at December 31, 2023 1,947,253 $ 127.43 $ 217.0 Nonvested at December 31, 2024 565,152 307,541 180,456 Expected to vest at December 31, 2024 462,867 264,717 246,313 (1) _______________ ( 1 Includes estimated performance achievement The fair value of our stock options granted was estimated on the date of grant using a Black-Scholes option valuation model that uses the weighted-average assumptions noted in the following table during the years ended December 31: 2024 2023 2022 Option pricing model Black-Scholes Black-Scholes Black-Scholes Weighted average grant price $ 237.10 $ 185.29 $ 196.64 Expected volatility 23.51 % 27.28 % 25.33 % Risk-free interest rate 3.89 % 3.77 % 1.55 % Expected term in years 3.7 4.0 4.2 Dividend yield 0.66 % 0.66 % 0.60 % Weighted average grant date fair value per stock option $ 53.45 $ 48.14 $ 42.25 A summary of the status of our nonvested options and changes are presented below: Number of Options Weighted Average Grant-Date Fair Value Per Share Nonvested balance at January 1, 2022 1,893,506 $ 28.49 Granted 653,802 $ 42.25 Vested (964,156 ) $ 22.97 Cancelled or expired (261,411 ) $ 35.23 Nonvested balance at December 31, 2022 1,321,741 $ 34.65 Granted 211,945 $ 52.69 Vested (540,993 ) $ 33.08 Cancelled or expired (227,436 ) $ 38.03 Nonvested balance at December 31, 2023 765,257 $ 39.74 Granted 203,884 $ 53.75 Vested (374,279 ) $ 36.67 Cancelled or expired (29,710 ) $ 44.34 Nonvested balance at December 31, 2024 565,152 $ 46.59 Intrinsic value for stock options is calculated based on the exercise price of the underlying awards and the quoted price of our common stock as of the reporting date. Excess tax benefits of $27.3 million, $20.6 million, and $26.5 million from exercised stock options were recorded as income tax benefit in our accompanying consolidated statements of operations for the years ended December 31, 2024, 2023, 2022 , respectively. Stock-based compensation expense for the years ended December 31, 2024, 2023, 2022 was $47.9 million, $54.0 million, and $56.5 million, respectively. December 31, 2024 , the weighted average remaining contractual terms were 5.5 and 4.5 years for outstanding and exercisable stock options, respectively. December 31, 2023 , the weighted average remaining contractual terms were 5.6 years and 4.8 years for outstanding and exercisable stock options, respectively. As of December 31, 2024 , there was $75.1 million of total unrecognized compensation cost, exclusive of the impact of vesting upon retirement eligibility, related to nonvested share-based compensation arrangements granted under our 2021 2013 Our U.K. Sharesave Plan offers qualifying employees in the United Kingdom the opportunity to own shares of our common stock. Employees who elect to participate are granted stock options, of which the exercise price is equal to the average of the closing price on the five three December 31, 2024, 2023, 2022 , we granted 3,268, 5,144, and 9,370 stock options under the U.K. Sharesave Plan at a discounted exercise price of $257.05, $227.65, and $178.26, respectively. As of December 31, 2024 , there were 442,363 shares of common stock reserved and available for future issuance under our U.K. Sharesave Plan. We also offer eligible employees the opportunity to participate in an ESPP. Under our ESPP, participating employees may may not 718, may no December 31, 2024, 2023, 2022 , we issued 16,964, 18,636, and 30,398 shares of common stock at a weighted average discounted price of $247.44, $209.68, and $174.66, respectively. As of December 31, 2024 , there were 1,160,295 shares of common stock reserved and available for future issuance under our ESPP. |