Share-Based Compensation Plans (Details) - USD ($)
$ / shares in Units, $ in Millions |
12 Months Ended |
Dec. 31, 2022 |
Dec. 31, 2021 |
Dec. 31, 2020 |
| Maximum of shares available for issuance |
14,700,000
|
|
|
| Shares available for grant |
8,899,375
|
|
|
| Share-based employee compensation expense |
$ 81.7
|
$ 84.7
|
$ 70.8
|
| Unamortized share-based employee compensation, amortization period |
5 years
|
|
|
| Unamortized share-based employee compensation |
$ 196.5
|
|
|
| Excess tax benefit from share-based compensation |
$ 1.9
|
$ 2.9
|
|
| Option Activity [Roll Forward] |
|
|
|
| January 1 |
4,689,250
|
768,750
|
866,000
|
| Granted |
853,875
|
4,025,000
|
0
|
| Exercised |
(157,500)
|
(60,000)
|
0
|
| Forfeited |
(258,000)
|
(44,500)
|
(97,250)
|
| December 31 |
5,127,625
|
4,689,250
|
768,750
|
| Exercisable December 31 |
423,750
|
689,250
|
768,750
|
| January 1, Weighted Average Exercise Price |
$ 74.30
|
$ 83.65
|
$ 83.80
|
| Granted, Weighted Average Exercise Price |
68.88
|
72.47
|
0
|
| Exercised, Weighted Average Exercise Price |
84.94
|
60.17
|
0
|
| Forfeited, Weighted Average Exercise Price |
77.69
|
77.93
|
84.94
|
| December 31, Weighted Average Exercise Price |
72.90
|
74.30
|
83.65
|
| Exercisable December 31, Weighted Average Exercise Price |
$ 84.94
|
84.94
|
$ 83.65
|
| Options Outstanding and Exercisable [Abstract] |
|
|
|
| Options Outstanding, Shares |
5,127,625
|
|
|
| Options Exercisable, Shares |
423,750
|
|
|
| Black-Scholes Assumptions and Weighted Average Fair Value Per Share for Options Granted [Abstract] |
|
|
|
| Weighted average fair value per option granted |
$ 12.60
|
$ 8.47
|
|
| Expected life |
|
8 years
|
|
| Risk free interest rate |
|
1.40%
|
|
| Expected volatility |
|
23.00%
|
|
| Dividend yield |
|
4.60%
|
|
| Minimum [Member] |
|
|
|
| Black-Scholes Assumptions and Weighted Average Fair Value Per Share for Options Granted [Abstract] |
|
|
|
| Expected life |
6 years 6 months
|
|
|
| Risk free interest rate |
3.00%
|
|
|
| Expected volatility |
24.50%
|
|
|
| Dividend yield |
4.20%
|
|
|
| Maximum [Member] |
|
|
|
| Black-Scholes Assumptions and Weighted Average Fair Value Per Share for Options Granted [Abstract] |
|
|
|
| Expected life |
7 years 6 months
|
|
|
| Risk free interest rate |
3.10%
|
|
|
| Expected volatility |
24.70%
|
|
|
| Dividend yield |
4.50%
|
|
|
| Exercise Price Range - $63.00 to $64.00 |
|
|
|
| Options Outstanding and Exercisable [Abstract] |
|
|
|
| Range of Exercise Prices, lower range limit |
$ 63.00
|
|
|
| Range of Exercise Prices, upper range limit |
$ 64.00
|
|
|
| Options Outstanding, Shares |
50,000
|
|
|
| Options Outstanding, Weighted Average Remaining Contractual Life |
9 years 6 months
|
|
|
| Options Outstanding, Weighted Average Exercise Price |
$ 63.21
|
|
|
| Options Exercisable, Shares |
0
|
|
|
| Options Exercisable, Weighted Average Exercise Price |
$ 0.00
|
|
|
| Exercise Price Range - $69.00 to $70.00 |
|
|
|
| Options Outstanding and Exercisable [Abstract] |
|
|
|
| Range of Exercise Prices, lower range limit |
69.00
|
|
|
| Range of Exercise Prices, upper range limit |
$ 70.00
|
|
|
| Options Outstanding, Shares |
803,875
|
|
|
| Options Outstanding, Weighted Average Remaining Contractual Life |
9 years 7 months 6 days
|
|
|
| Options Outstanding, Weighted Average Exercise Price |
$ 69.23
|
|
|
| Options Exercisable, Shares |
0
|
|
|
| Options Exercisable, Weighted Average Exercise Price |
$ 0.00
|
|
|
| Exercise Price Range - $72.00 to $73.00 |
|
|
|
| Options Outstanding and Exercisable [Abstract] |
|
|
|
| Range of Exercise Prices, lower range limit |
72.00
|
|
|
| Range of Exercise Prices, upper range limit |
$ 73.00
|
|
|
| Options Outstanding, Shares |
3,850,000
|
|
|
| Options Outstanding, Weighted Average Remaining Contractual Life |
8 years 10 months 24 days
|
|
|
| Options Outstanding, Weighted Average Exercise Price |
$ 72.47
|
|
|
| Options Exercisable, Shares |
0
|
|
|
| Options Exercisable, Weighted Average Exercise Price |
$ 0.00
|
|
|
| Exercise Price Range - $84.00 to $85.00 |
|
|
|
| Options Outstanding and Exercisable [Abstract] |
|
|
|
| Range of Exercise Prices, lower range limit |
84.00
|
|
|
| Range of Exercise Prices, upper range limit |
$ 85.00
|
|
|
| Options Outstanding, Shares |
423,750
|
|
|
| Options Outstanding, Weighted Average Remaining Contractual Life |
3 months 18 days
|
|
|
| Options Outstanding, Weighted Average Exercise Price |
$ 84.94
|
|
|
| Options Exercisable, Shares |
423,750
|
|
|
| Options Exercisable, Weighted Average Exercise Price |
$ 84.94
|
|
|
| Stock Options [Member] |
|
|
|
| Share-based employee compensation, terms of award |
The exercise price of stock option awards cannot be less than 100% of the market price of our common stock on the grant date and have a maximum contractual life of 10 years.
|
|
|
| Restricted Stock [Member] |
|
|
|
| Share-based employee compensation, vesting rights |
Generally, restricted shares vest ratably over five years from the grant date provided the employee remains employed by us.
|
|
|
| Restricted Stock and PRSU Activity [Roll Forward] |
|
|
|
| January 1 |
2,932,836
|
3,012,988
|
2,547,001
|
| Granted |
1,147,496
|
1,017,895
|
1,511,719
|
| Vested / Distributed |
(889,736)
|
(899,372)
|
(874,431)
|
| Forfeited |
(180,253)
|
(198,675)
|
(171,301)
|
| December 31 |
3,010,343
|
2,932,836
|
3,012,988
|
| Restricted Stock and PRSU Activity, Weighted Average Grant Date Fair Value [Roll Forward] |
|
|
|
| January 1, Weighted Average Grant Date Fair Value |
$ 63.09
|
$ 61.44
|
|
| Granted, Weighted Average Grant Date Fair Value |
59.02
|
68.99
|
$ 51.26
|
| December 31, Weighted Average Grant Date Fair Value |
$ 61.11
|
$ 63.09
|
$ 61.44
|
| Performance Restricted Stock Units (PRSUs) [Member] |
|
|
|
| Share-based employee compensation, vesting rights |
Each PRSU represents the right to receive one share of common stock on vesting. The ultimate number of PRSUs received by the employee depends on the Company's average return on equity over a three year period compared to the average return on equity of a peer group of principal competitors over the same period. The PRSUs vest three years from the grant date.
|
|
|
| Restricted Stock and PRSU Activity [Roll Forward] |
|
|
|
| January 1 |
533,890
|
550,561
|
538,134
|
| Granted |
218,127
|
165,911
|
186,197
|
| Vested / Distributed |
(181,782)
|
(182,582)
|
(173,770)
|
| December 31 |
570,235
|
533,890
|
550,561
|
| Restricted Stock and PRSU Activity, Weighted Average Grant Date Fair Value [Roll Forward] |
|
|
|
| January 1, Weighted Average Grant Date Fair Value |
$ 70.42
|
$ 70.17
|
$ 77.99
|
| Granted, Weighted Average Grant Date Fair Value |
76.79
|
74.89
|
61.36
|
| Distributed, Weighted Average Grant Date Fair Value |
75.64
|
73.72
|
84.94
|
| December 31, Weighted Average Grant Date Fair Value |
$ 71.19
|
$ 70.42
|
$ 70.17
|
| Employee Stock Purchase Plan [Member] |
|
|
|
| Shares available for grant |
8,361,784
|
|
|
| Employee Stock Purchase Plan (ESPP) [Abstract] |
|
|
|
| Discount from market price |
95.00%
|
|
|
| Maximum percentage of eligible compensation allowable for purchase |
10.00%
|
|
|
| Shares issued in period |
72,672
|
73,250
|
91,605
|
| Proceeds from issuance of shares |
$ 5.2
|
$ 5.0
|
$ 5.2
|