Pay vs Performance Disclosure
Dec. 31, 2022
USD ($)
$ / shares
Dec. 31, 2021
USD ($)
$ / shares
Dec. 31, 2020
USD ($)
$ / shares
| Year | Summary Compensation Table Total for PEO ($) | Compensation Actually Paid to PEO(1) ($) | Average Summary Compensation Table Total for Non-PEO NEOs(2) ($) | Average Compensation Actually Paid to Non-PEO NEOs(1)(2) ($) | Value of Initial Fixed $100 Investment Based On(3): | Net Income ($M) | Adjusted EPS ($)(5) | |||||||||||||||||||
| Total Shareholder Return ($) | Industry Index Total Shareholder Return ($)(4) | |||||||||||||||||||||||||
| 2022 | $17,899,691 | $36,869,068 | $4,977,421 | $6,799,877 | $190 | $137 | $1,610 | $13.91 | ||||||||||||||||||
| 2021 | $16,148,227 | $53,419,822 | $6,527,939 | $12,048,134 | $173 | $121 | $2,078 | $12.93 | ||||||||||||||||||
| 2020 | $12,525,442 | $36,032,900 | $5,882,927 | $10,231,847 | $119 | $105 | $1,145 | $8.30 | ||||||||||||||||||
| PEO SCT Total to CAP Reconciliation | ||||||||||||||||||||||||||||||||||||||||||||
| Year | Summary Compensation Table Total Compensation | Deductions | Additions | Compensation Actually Paid | ||||||||||||||||||||||||||||||||||||||||
Grant Date Fair Value of Stock and Option Awards(i) | Change in Pension Value & Nonqualified Deferred Compensation Earnings(ii) | Fair Value at FYE of Stock and Option Awards(iii) | Change in Fair Value of Outstanding and Unvested Stock and Option Awards(iv) | Change in Fair Value of Vested Stock and Option Awards(v) | ||||||||||||||||||||||||||||||||||||||||
| 2022 | $17,899,691 | - | $11,480,361 | $— | + | $15,386,996 | $5,751,424 | $9,311,318 | = | $36,869,068 | ||||||||||||||||||||||||||||||||||
| 2021 | $16,148,227 | $9,991,055 | $— | $18,082,222 | $24,119,250 | $5,061,178 | $53,419,822 | |||||||||||||||||||||||||||||||||||||
| 2020 | $12,525,442 | $6,589,310 | $— | $21,157,143 | $10,411,408 | $(1,471,783) | $36,032,900 | |||||||||||||||||||||||||||||||||||||
| Average Non-PEO NEO SCT Total to CAP Reconciliation | ||||||||||||||||||||||||||||||||||||||||||||
| Year | Summary Compensation Table Total Compensation | Deductions | Additions | Compensation Actually Paid | ||||||||||||||||||||||||||||||||||||||||
Grant Date Fair Value of Stock and Option Awards(i) | Change in Pension Value & Nonqualified Deferred Compensation Earnings(ii) | Fair Value at FYE of Stock and Option Awards(iii) | Change in Fair Value of Outstanding and Unvested Stock and Option Awards(iv) | Change in Fair Value of Vested Stock and Option Awards(v) | ||||||||||||||||||||||||||||||||||||||||
| 2022 | $4,977,421 | - | $2,550,094 | $— | + | $3,264,413 | $663,074 | $445,063 | = | $6,799,877 | ||||||||||||||||||||||||||||||||||
| 2021 | $6,527,939 | $2,649,102 | $2,848 | $4,253,230 | $3,534,002 | $384,913 | $12,048,134 | |||||||||||||||||||||||||||||||||||||
| 2020 | $5,882,927 | $1,528,073 | $100,767 | $3,689,683 | $2,152,985 | $135,092 | $10,231,847 | |||||||||||||||||||||||||||||||||||||
(i) Represents the grant date fair value of stock and option awards granted in Fiscal Year.
(ii) No NEOs were eligible to participate in the U.S. pension plan in 2022. For 2020 and 2021, no service costs were accrued as Mr. Zachman's pension was under a frozen plan and the other NEOs were not eligible to participate in the U.S. pension plan. No NEOs participate in the deferred compensation program, including our PEO.
(iii) Fair value at Fiscal Year-end of outstanding and unvested stock and option awards granted in Fiscal Year.
(iv) Change in fair value of outstanding and unvested stock and option awards granted in prior Fiscal Years.
(v) Change in fair value as of vesting date of stock and option awards granted in prior Fiscal Years for which applicable vesting conditions were satisfied during Fiscal Year.
| PEO SCT Total to CAP Reconciliation | ||||||||||||||||||||||||||||||||||||||||||||
| Year | Summary Compensation Table Total Compensation | Deductions | Additions | Compensation Actually Paid | ||||||||||||||||||||||||||||||||||||||||
Grant Date Fair Value of Stock and Option Awards(i) | Change in Pension Value & Nonqualified Deferred Compensation Earnings(ii) | Fair Value at FYE of Stock and Option Awards(iii) | Change in Fair Value of Outstanding and Unvested Stock and Option Awards(iv) | Change in Fair Value of Vested Stock and Option Awards(v) | ||||||||||||||||||||||||||||||||||||||||
| 2022 | $17,899,691 | - | $11,480,361 | $— | + | $15,386,996 | $5,751,424 | $9,311,318 | = | $36,869,068 | ||||||||||||||||||||||||||||||||||
| 2021 | $16,148,227 | $9,991,055 | $— | $18,082,222 | $24,119,250 | $5,061,178 | $53,419,822 | |||||||||||||||||||||||||||||||||||||
| 2020 | $12,525,442 | $6,589,310 | $— | $21,157,143 | $10,411,408 | $(1,471,783) | $36,032,900 | |||||||||||||||||||||||||||||||||||||
| Average Non-PEO NEO SCT Total to CAP Reconciliation | ||||||||||||||||||||||||||||||||||||||||||||
| Year | Summary Compensation Table Total Compensation | Deductions | Additions | Compensation Actually Paid | ||||||||||||||||||||||||||||||||||||||||
Grant Date Fair Value of Stock and Option Awards(i) | Change in Pension Value & Nonqualified Deferred Compensation Earnings(ii) | Fair Value at FYE of Stock and Option Awards(iii) | Change in Fair Value of Outstanding and Unvested Stock and Option Awards(iv) | Change in Fair Value of Vested Stock and Option Awards(v) | ||||||||||||||||||||||||||||||||||||||||
| 2022 | $4,977,421 | - | $2,550,094 | $— | + | $3,264,413 | $663,074 | $445,063 | = | $6,799,877 | ||||||||||||||||||||||||||||||||||
| 2021 | $6,527,939 | $2,649,102 | $2,848 | $4,253,230 | $3,534,002 | $384,913 | $12,048,134 | |||||||||||||||||||||||||||||||||||||
| 2020 | $5,882,927 | $1,528,073 | $100,767 | $3,689,683 | $2,152,985 | $135,092 | $10,231,847 | |||||||||||||||||||||||||||||||||||||
(i) Represents the grant date fair value of stock and option awards granted in Fiscal Year.
(ii) No NEOs were eligible to participate in the U.S. pension plan in 2022. For 2020 and 2021, no service costs were accrued as Mr. Zachman's pension was under a frozen plan and the other NEOs were not eligible to participate in the U.S. pension plan. No NEOs participate in the deferred compensation program, including our PEO.
(iii) Fair value at Fiscal Year-end of outstanding and unvested stock and option awards granted in Fiscal Year.
(iv) Change in fair value of outstanding and unvested stock and option awards granted in prior Fiscal Years.
(v) Change in fair value as of vesting date of stock and option awards granted in prior Fiscal Years for which applicable vesting conditions were satisfied during Fiscal Year.
Relationship Between Pay and Performance
The following shows the relationship between PEO CAP, Average Non-PEO NEO CAP, TSR and the indexed peer TSR.
Relationship Between Pay and Net Income
The following shows the relationship between PEO CAP, Average Non-PEO NEO CAP and Net Income.
Relationship Between Pay and Adjusted EPS
The following shows the relationship between PEO CAP, Average Non-PEO NEO CAP and Adjusted EPS.
As required, the list below reflects performance measures that we consider the most important for linking executive compensation actually paid to company performance in 2022.
•Adj EPS(1) | •AROIC | •Relative TSR | ||||||
•Adj PBT(I)(2) | •ESG | |||||||
(1)Represents timing adjusted earnings per share excluding certain gains and charges. Timing adjusted earnings per share excluding notables, as used in this proxy statement, is a non-GAAP financial measure, see Appendix A – Reconciliation of Non-GAAP Financial Measures for reconciliation to the most directly comparable U.S. GAAP measure.
(2)Represents adjusted Profit Before Taxes before certain incentive payouts.