v3.25.4
Share-based Compensation (Tables)
12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Share-based Compensation Expense and Effect on Diluted Earnings Per Common Share
Share-based compensation expense and the effect on diluted earnings per common share were as follows:
In millions, except per share data202520242023
Share-based compensation expense$165 $172 $175 
After tax$146 $136 $155 
Earnings per common share-diluted$0.21 $0.19 $0.21 
Weighted Average Assumptions
Weighted-average assumptions
202520242023
Expected dividend yield2.3 %2.3 %2.3 %
Expected stock price volatility21.5 %21.2 %21.6 %
Risk-free interest rate4.5 %4.1 %3.9 %
Expected life of options (in years)
5.85.85.8
Fair value per option granted$66.69 $59.82 $54.35 
Summary of Status and Changes of Stock Option Grants
A summary of the status of the Company’s stock option grants as of December 31, 2025, 2024 and 2023, and changes during the years then ended, is presented in the following table:
202520242023
OptionsShares in
millions
Weighted-
average
exercise
price
Weighted-
average
remaining
contractual
life in years
Aggregate
intrinsic
value in
millions
Shares in
millions
Weighted-
average
exercise
price
Shares in
millions
Weighted-
average
exercise
price
Outstanding at beginning of year9.5 $208.72 10.5 $189.78 11.4 $172.27 
Granted1.1 307.62 1.2 288.92 1.2 266.70 
Exercised(1.7)163.31 (1.9)151.37 (2.0)133.76 
Forfeited/expired(0.1)278.07   (0.3)262.34 (0.1)244.95 
Outstanding at end of year8.8 $228.19 5.3$682 9.5 $208.72 10.5 $189.78 
Exercisable at end of year6.3 $203.92 4.1$638 6.7 7.2  
Summary of RSU Activity
A summary of the Company’s RSU activity during the years ended December 31, 2025, 2024 and 2023 is presented in the following table:
 202520242023
RSUsShares in
millions
Weighted-
average
grant date
fair value
Shares in
millions
Weighted-
average
grant date
fair value
Shares in
millions
Weighted-
average
grant date
fair value
Nonvested at beginning of year1.2 $275.37 1.2 $238.21 1.2 $222.32 
Granted0.6 309.59 0.6 277.36 0.5 255.14 
Vested(0.5)262.66 (0.6)220.87 (0.4)210.03 
Forfeited(0.1)295.00 0.0 273.70 (0.1)244.58 
Nonvested at end of year1.2 $295.22 1.2 $275.37 1.2 $238.21