v3.24.4
Employee Compensation and Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock-based Compensation Expense and Related Income Tax Benefits
Stock-based compensation expense and related income tax benefits were as follows:
As of and for the Year Ended December 31,
(in millions, except shares, per share and contractual life amounts)202420232022
Stock-based compensation expense$649 $667 $596 
Income tax benefit related to stock-based compensation$129 $130 $114 
Weighted-average fair value per stock award granted$162.99 $143.09 $126.89 
Unrecognized compensation expense$645 $637 $635 
Weighted-average period to be recognized (years)1.81.81.8
Fair value of stock awards vested$820 $889 $743 
Schedule of RSU and PRSU Awards Activity
The following activity occurred under the Incentive Plans during the year ended December 31, 2024:

Time-Based Restricted Stock Units
(in millions, except shares, per share and contractual life amounts)Number of Units or AwardsWeighted-Average Grant Date Fair ValueWeighted-Average Remaining Contractual Term (Years)Aggregate Intrinsic Value
Nonvested, December 31, 2023
7,755,943 $136.67 0.9$1,244 
Prior year grant adjustment(351)142.60 
Granted3,775,434 163.72 
Vested(4,375,499)135.88 
Forfeited(518,292)149.33 
Nonvested, December 31, 2024
6,637,235 151.55 0.81,465 

Performance-Based Restricted Stock Units
(in millions, except shares, per share and contractual life amounts)Number of Units or AwardsWeighted-Average Grant Date Fair ValueWeighted-Average Remaining Contractual Term (Years)Aggregate Intrinsic Value
Nonvested, December 31, 2023
689,806 $145.32 1.0$111 
Granted146,154 164.65 
Performance award achievement adjustments (1)
95,503 131.26 
Vested(372,099)127.55 
Nonvested, December 31, 2024
559,364 159.79 0.9123 
(1)Represents PRSUs granted prior to 2024 for which the performance achievement period was completed in 2024, resulting in incremental unit awards. These PRSU awards are also included in the amount vested in 2024.
Schedule of Components of Net Expense Recognized for Pension Plan
The components of net benefit recognized for the Pension Plan were as follows:
Year Ended December 31,
(in millions)202420232022
Interest on projected benefit obligations$83 $86 $65 
Gain on settlement and amortization of actuarial gain(119)(59)— 
Expected return on pension plan assets(99)(97)(71)
Net pension benefit$(135)$(70)$(6)