XML 50 R39.htm IDEA: XBRL DOCUMENT v3.23.3

Share-Based Compensation Plans (Tables)

9 Months Ended

Sep. 30, 2023

Share-Based Payment Arrangement [Abstract]

Summary of the changes in outstanding stock options

The following is a summary of the changes in outstanding stock options for the nine months ended September 30, 2023:

			Share units (in thousands)						Weighted Average Exercise Price / Share						Weighted Average Remaining Contractual Term (Years)						Aggregate Intrinsic Value (in millions)
Outstanding at January 1, 2023			1,935						$	67.55					5.9						$	83
Granted			2,153						38.13
Exercised			(1,550)						29.38
Forfeited and expired			(23)						96.73
Other			14						73.16
Outstanding at September 30, 2023			2,529						$	65.60					5.9						$	69
Options exercisable at September 30, 2023			1,953						$	58.98					5.1						$	64
Vested and expected to vest as of September 30, 2023			2,480						$	64.96					5.7						$	69

Stock option valuation assumptions

The following are weighted-average assumptions for 2023 grants:

Volatility			27.30			%
Risk-free interest rate			4.25			%
Dividend yield			1.31			%
Expected term (in years)			5.4
Weighted-average fair value / share			$	29.06

Summary of restricted stock activity

The following is a summary of restricted stock unit activity for the nine months ended September 30, 2023. The fair value of the restricted share unit awards is determined using the closing price of our common stock on date of grant:

			Share units (in thousands)						Weighted Average Grant Date Fair Value / Share
Outstanding at January 1, 2023			553						$	88.88
Granted			1,048						103.07
Vested			(644)						41.56
Forfeited			(32)						66.58
Outstanding at September 30, 2023			925						$	98.78

Summary of performance based share grants

The following is a summary of our ROIC and EBITDA grants for the nine months ended September 30, 2023. The fair value of the adjusted EBITDA performance share units is equal to the closing share price on the date of the grant:

			Share units  (in thousands)																		Weighted Average Grant Date Fair Value / Share
Outstanding at January 1, 2023			146																		$	88.78
Granted			36																		100.69
Forfeited (a)			(68)																		82.40
Outstanding at September 30, 2023			114																		$	97.70

(a) Includes adjusted ROIC performance share unit awards forfeited during the period as a result of the final performance condition not being achieved on vest date.

The following is a summary of our Total Shareholder Return ("TSR") performance share unit grants for the nine months ended September 30, 2023:

			Share units (in thousands)																		Weighted Average Grant Date Fair Value / Share
Outstanding at January 1, 2023			178																		$	100.67
Granted			72																		108.54
Adjustment for Market Condition Achieved (a)			40																		102.55
Vested			(102)																		102.55
Forfeited			(8)																		100.99
Outstanding at September 30, 2023			180																		$	103.52

(a) Represents an increase in the number of original TSR performance share units awarded based on the final market condition achievement at the end of the performance period of such awards.

Performance-based shares valuation assumptions

The following are weighted-average assumptions for 2023 grants:

Volatility			35.9			%
Risk-free interest rate			4.66			%

Share-based Payment Arrangement, Outstanding Award, Activity, Excluding Option

The following is a summary of our Revenue performance share unit grants for the nine months ended September 30, 2023:

			Share units  (in thousands)																		Weighted Average Grant Date Fair Value / Share
Outstanding at January 1, 2023			32																		86.77
Granted			36																		100.69
Forfeited			(2)																		91.12
Outstanding at September 30, 2023			66																		$	94.19

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 the changes in outstanding nonvested performance-based units.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfNonvestedPerformanceBasedUnitsActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of activity for outstanding award under share-based payment arrangement excluding share and unit options and nonvested award.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfOtherShareBasedCompensationActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types: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
-Topic 718
-SubTopic 10
-Subparagraph (f)(2)
-Name Accounting Standards Codification
-Paragraph 2
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

+ Details

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

X

- Definition

Tabular disclosure of the change in stock options.

+ References

No definition available.

+ Details

Name:	us-gaap_ScheduleOfStockOptionsRollForwardTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Schedule of Share-based Payment Award, Equity Instruments Other than Options, Valuation Assumptions [Table Text Block]

+ References

No definition available.

+ Details

Name:	xyl_ScheduleofSharebasedPaymentAwardEquityInstrumentsOtherthanOptionsValuationAssumptionsTableTextBlock
Namespace Prefix:	xyl_
Data Type:	dtr-types1:textBlockItemType
Balance Type:	na
Period Type:	duration