Quarterly report [Sections 13 or 15(d)]

STOCK-BASED COMPENSATION (Tables)

v3.25.2
STOCK-BASED COMPENSATION (Tables)
6 Months Ended
Jun. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Weighted-Average Assumptions and Fair Values Used of Performance Units Granted
The weighted-average assumptions used and the weighted-average fair values of the LTIP awards granted in 2025 and 2024 are as follows:
2025 2024
Risk-free interest rate 3.86  % 4.43  %
Expected volatility 28.39  % 27.02  %
Weighted-average fair value of units granted
$ 94.52  $ 156.73 
Share payout 98.13  % 101.92  %
Fair Value of Employee Stock Options Granted and Determined by Black-Scholes Valuation Model Assumptions
The fair value of each option granted is estimated using a Black-Scholes option pricing model. The weighted-average assumptions used and the weighted-average fair values of options granted in 2025 and 2024 are as follows:
2025 2024
Expected dividend yield 5.21  % 3.96  %
Risk-free interest rate 4.08  % 4.25  %
Expected life (in years) 6.11 6.13
Expected volatility 30.35  % 28.94  %
Weighted-average fair value of options granted
$ 18.72  $ 34.76