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Share-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]  
Schedule of Share-Based Compensation Expense Included In The Consolidated Statements Of Comprehensive Earnings

 

 

Year Ended December 31,

 

 

 

2022

 

 

2021

 

 

2020

 

G&A

 

$

87

 

 

$

77

 

 

$

76

 

Exploration expenses

 

 

1

 

 

 

1

 

 

 

1

 

Restructuring and transaction costs

 

 

—

 

 

 

21

 

 

 

11

 

Total

 

$

88

 

 

$

99

 

 

$

88

 

Related income tax benefit

 

$

34

 

 

$

13

 

 

$

—

 
Summary of Unvested Restricted Stock Awards, Performance-Based Restricted Stock Awards And Performance Share Units

 

 

 

Restricted Stock Awards & Units

 

 

Performance Share Units

 

 

 

 

Awards/Units

 

 

Weighted
Average
Grant-Date
Fair Value

 

 

Units

 

 

Weighted
Average
Grant-Date
Fair Value

 

 

 

 

(Thousands, except fair value data)

 

 

Unvested at 12/31/21

 

 

7,656

 

 

$

22.15

 

 

 

2,076

 

 

$

24.12

 

 

Granted

 

 

1,408

 

 

$

53.60

 

 

 

964

 

 

$

44.05

 

(1)

Vested

 

 

(3,192

)

 

$

23.10

 

 

 

(1,194

)

 

$

28.91

 

 

Forfeited

 

 

(84

)

 

$

34.05

 

 

 

(5

)

 

$

68.68

 

 

Unvested at 12/31/22

 

 

5,788

 

 

$

29.11

 

 

 

1,841

 

(2)

$

31.33

 

 

 

(1)
These grants also include the impact of performance share units granted in prior year that vested higher than 100% target due to Devon's TSR performance compared to applicable peers.
(2)
A maximum of 3.7 million common shares could be awarded based upon Devon’s final TSR ranking.
Schedule of Share Based Compensation Arrangement By Share Based Payment Award Aggregate Fair Value Of Awards And Units Table Text Block

 

 

 

2022

 

 

2021

 

 

2020

 

Restricted Stock Awards and Units

 

$

180

 

 

$

115

 

 

$

44

 

Performance-Based Restricted Stock Awards

 

$

—

 

 

$

1

 

 

$

2

 

Performance Share Units

 

$

62

 

 

$

15

 

 

$

10

 
Summary of Unrecognized Compensation Cost And Weighted Average Period For Recognition

 

 

Restricted Stock

 

 

Performance

 

 

 

Awards/Units

 

 

Share Units

 

Unrecognized compensation cost

 

$

85

 

 

$

18

 

Weighted average period for recognition (years)

 

 

2.5

 

 

 

1.6

 
Summary of Performance Share Units Grant-Date Fair Values And Their Related Assumptions The following table presents the assumptions related to performance share units granted.

 

 

 

2022

 

 

2021

 

 

2020

 

Grant-date fair value

 

$

68.68

 

 

$

18.08

 

 

$

27.89

 

Risk-free interest rate

 

 

1.81

%

 

 

0.18

%

 

 

1.36

%

Volatility factor

 

 

70.1

%

 

 

67.8

%

 

 

38.4

%

Contractual term (years)

 

 

2.89

 

 

 

2.89

 

 

 

2.89