XML 120 R57.htm IDEA: XBRL DOCUMENT v3.20.4

Stock Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement [Abstract]

Stock-Based Compensation Expense

Stock-Based Compensation Expense

			For the years ended December 31,
			2020			2019			2018
Stock-based compensation plans expense			$	116		$	125		$	130
Income tax benefit			(20)			(21)			(27)
Excess tax benefit on awards vested, exercised and expired			(1)			(6)			(5)
Total stock-based compensation plans expense, net of tax			$	95		$	98		$	98

Stock Compensation Valuation Assumptions

Stock Options Valuation Assumptions

			For the years ended December 31,
			2020									2019									2018
Expected dividend yield			2.6%									2.5%									1.8%
Expected annualized spot volatility			22.2		%	-			36.2%			20.7		%	-			36.7%			20.8		%	-			36.5%
Weighted average annualized volatility			30.9%									29.3%									29.0%
Risk-free spot rate			1.3		%	-			1.6%			2.4		%	-			2.6%			1.5		%	-			2.9%
Expected term			6.6 years									5.9 years									5.7 years

Non-qualified Stock Option Activity Under the Incentive Stock Plan

Non-qualified Stock Option Activity Under the Stock Incentive Plan

			Number of Options (in thousands)			Weighted Average Exercise Price			Weighted Average Remaining Contractual Term			Aggregate Intrinsic Value
			For the year ended December 31, 2020
Outstanding at beginning of year			5,846			$	43.43
Granted			998			$	55.27
Exercised			(128)			$	24.15
Forfeited			(23)			$	51.27
Expired			—			$	—
Outstanding at end of year			6,693			$	45.54		5.8			$	34
Outstanding, fully vested and expected to vest			6,693			$	63.59		5.8			$	33
Exercisable at end of year			4,793			$	42.62		4.7			$	34

Assumptions

Assumptions for Total Shareholder Return Performance Shares

			For the years ended December 31,
			2020									2019									2018
Volatility of common stock			19.6%									19.4%									20.8%
Average volatility of peer companies			18.0		%	-			31.0%			16.0		%	-			27.0%			17.0		%	-			25.0%
Average correlation coefficient of peer companies			51.0%									50.0%									54.0%
Risk-free spot rate			1.2%									2.4%									2.4%
Term			3.0 years									3.0 years									3.0 years

Non-vested Share Award Activity Under the Incentive Stock Plan

Non-vested Share Award Activity Under the Stock Incentive Plan

			Restricted Stock and Restricted Stock Units						Performance Shares
			Number of Shares (in thousands)			Weighted-Average Grant-Date Fair Value			Number of Shares (in thousands)			Weighted-Average Grant date Fair Value
Non-vested shares			For the year ended December 31, 2020
Non-vested at beginning of year			3,912			$	50.83		770			$	52.31
Granted			1,323			$	54.64		391			$	55.62
Performance based adjustment, net									(73)			$	50.09
Vested			(1,224)			$	49.19		(276)			$	50.90
Forfeited			(145)			$	52.71		(22)			$	53.54
Non-vested at end of year			3,866			$	52.58		790			$	54.82

X

- References

No definition available.

+ Details

Name:	us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of share-based payment arrangement.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

+ Details

Name:	us-gaap_DisclosureOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit.

+ 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 (h)(1)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

+ Details

Name:	us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of number, weighted-average exercise price or conversion ratio, aggregate intrinsic value, and weighted-average remaining contractual term for outstanding performance-based awards that are fully vested and expected to vest. Includes, but is not limited to, unvested awards for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur.

+ 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 (e)(1)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

+ Details

Name:	us-gaap_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardPerformanceBasedUnitsVestedAndExpectedToVestTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of number, weighted-average exercise price or conversion ratio, aggregate intrinsic value, and weighted-average remaining contractual term for outstanding restricted stock units that are fully vested and expected to vest. Includes, but is not limited to, unvested restricted stock units for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur.

+ 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 (e)(1)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

+ Details

Name:	us-gaap_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockUnitsVestedAndExpectedToVestTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

+ 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 (f)(2)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

+ Details

Name:	us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration