v3.25.4
Stock Options and Other Share-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Fair Market Values of Stock Options and Stock Appreciation Rights Granted The fair market values of stock options and stock appreciation rights granted in 2025, 2024 and 2023 were measured on the date of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions:
Year ended December 31
202520242023
Expected term in years1
6.56.56.4
Volatility2
33.0 %33.0 %32.5 %
Risk-free interest rate based on zero coupon U.S. treasury note
4.34 %3.98 %3.43 %
Dividend yield4.5 %4.1 %3.5 %
Weighted-average fair value per option granted$37.60 $38.00 $45.82 
1    Expected term is based on historical exercise and post-vesting cancellation data.
2    Volatility rate is based on historical stock prices over an appropriate period, generally equal to the expected term.
Schedule of Option Activity
A summary of option activity during 2025 is presented below:
Shares (Thousands)Weighted-Average
 Exercise Price		Averaged Remaining Contractual Term (Years)Aggregate Intrinsic Value
Outstanding at January 1, 202523,168 $122.62 
Granted3,879 $130.05 
Exercised(3,801)$98.52 
Forfeited(1,082)$209.13 
Outstanding at December 31, 202522,164 $123.78 5.10$704 
Exercisable at December 31, 202518,050 $116.44 4.32$703