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Share-Based Compensation
9 Months Ended
Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]  
Share-Based Compensation Share-Based Compensation
The Company recognized $89 million and $63 million of share-based compensation expense during the three months ended September 30, 2022 and 2021, respectively, and $244 million and $190 million of share-based compensation expense during the nine months ended September 30, 2022 and 2021, respectively. The Company’s share-based compensation awards are typically granted in the first quarter of the year, and may also occur throughout the year in conjunction with acquisitions of businesses. At September 30, 2022, the total remaining unrecognized compensation cost for unvested stock options, restricted stock units and awards and performance share units, net of estimated forfeitures, of $563 million is expected to be recognized over a weighted-average period of 2.2 years.
A summary of stock option activity during the nine months ended September 30, 2022 is as follows:
Shares
(In thousands)
Weighted-Average Exercise PriceWeighted-Average Remaining Contractual Term (Years)Aggregate Intrinsic Value (In millions)
Stock options outstanding - December 31, 202110,229 $56.36 
Granted— — 
Forfeited(156)110.94 
Exercised(2,663)40.04 
Stock options outstanding - September 30, 20227,410 $61.07 4.05$265 
Stock options exercisable - September 30, 20226,751 $56.07 3.70$265 
A summary of restricted stock unit, restricted stock award and performance share unit activity during the nine months ended September 30, 2022 is as follows:
Restricted Stock Units and AwardsPerformance Share Units
Shares
(In thousands)
Weighted-Average Grant Date Fair ValueShares
(In thousands)
Weighted-Average Grant Date Fair Value
Units and awards - December 31, 2021
5,074 $101.09 1,392 $96.32 
Granted3,407 93.41 2,850 100.86 
Forfeited(568)100.77 (107)96.33 
Vested(1,929)99.57 (1,077)103.13 
Units and awards - September 30, 2022
5,984 $97.18 3,058 $101.02 
On April 1, 2022, in conjunction with the acquisition of Finxact (see Note 4), the Company granted 2.4 million restricted stock units with performance vesting provisions to be measured over two and five years, which are presented as performance share units within the table above.