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Share-Based Compensation (Tables) | 3 Months Ended
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Mar. 31, 2022
Share-based Payment Arrangement [Abstract] |
Summary of Share-Based Compensation Expense | The following table presents the total share-based compensation expense resulting from equity awards and the 15.0% discount for the ESPP for the three months ended March 31, 2022 and 2021, which is included in compensation and benefits expense in the Condensed Consolidated Statements of Income:
| Three Months Ended March 31, |  |
| 2022 |  | 2021 |  |  |  |  |  |
| (in millions)
Share-based compensation expense before income taxes | $ | 25 |  |  | $ | 19 |  |  |  |  |  |  |
Income tax benefit | (6) |  |  | (5) |  |  |  |  |  |  |
Share-based compensation expense after income taxes | $ | 19 |  |  | $ | 14 |  |  |  |  |  |  |
Summary of Restricted Stock Activity | The following table summarizes our restricted stock activity for the three months ended March 31, 2022:
| Restricted Stock
| Number of Awards |  | Weighted-Average Grant Date Fair Value
Unvested at January 1, 2022 | 1,466,340 |  |  | $ | 106.16 |
Granted | 10,221 |  |  | 199.30 |
Vested | (150,156) |  |  | 81.93 |
Forfeited | (15,953) |  |  | 109.42 |
Unvested at March 31, 2022 | 1,310,452 |  |  | $ | 109.62 |
Summary of PSU Activity | The following table summarizes our PSU activity for the three months ended March 31, 2022:
| PSUs
| One-Year Program |  | Three-Year Program
| Number of Awards |  | Weighted-Average Grant Date Fair Value |  | Number of Awards |  | Weighted-Average Grant Date Fair Value
Unvested at January 1, 2022 | 49,734 |  |  | $ | 84.03 |  |  | 764,124 |  |  | $ | 135.04 |
Granted | — |  |  | — |  |  | 296,912 |  |  | 100.28 |
Vested | — |  |  | — |  |  | (578,614) |  |  | 97.70 |
Forfeited | (259) |  |  | 84.18 |  |  | (399) |  |  | 148.47 |
Unvested at March 31, 2022 | 49,475 |  |  | $ | 84.03 |  |  | 482,023 |  |  | $ | 158.45 |
In the preceding table, the granted amount under the three year program reflects additional awards granted based on overachievement of performance parameters.
Summary of Stock Option Activity | A summary of stock option activity for the three months ended March 31, 2022 is as follows:
| Number of Stock Options | Weighted-Average Exercise Price | Weighted- Average Remaining Contractual Term (in years) | Aggregate Intrinsic Value (in millions)
Outstanding at December 31, 2021 | 268,817 |  | $ | 66.68 |  | 5.0 | $ | 39 |
Granted | 204,624 |  | 202.46 |  |  |
Outstanding at March 31, 2022 | 473,441 |  | $ | 125.36 |  | 6.9 | $ | 30 |
Exercisable at March 31, 2022 | 268,817 |  | $ | 66.68 |  | 4.8 | $ | 30 |

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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
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- Definition Tabular disclosure of number and weighted-average grant date fair value for nonvested performance shares. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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