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Share-Based Compensation (Tables) | 6 Months Ended
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Jun. 30, 2023
Share-Based Payment Arrangement [Abstract] |
Schedule Of Share-Based Compensation Expense Included In The Consolidated Statements Of Comprehensive Earnings | The table below presents the share-based compensation expense included in Devon’s accompanying consolidated statements of comprehensive earnings.
|  | Six Months Ended June 30, |
|  | 2023 |  |  | 2022 |
G&A |  | $ | 48 |  |  | $ | 42 |
Exploration expenses |  |  | — |  |  |  | 1 |
Total |  | $ | 48 |  |  | $ | 43 |
Related income tax benefit |  | $ | 27 |  |  | $ | 26 |
Summary Of Unvested Restricted Stock Awards, Performance-Based Restricted Stock Awards And Performance Share Units | Under its approved long-term incentive plan, Devon grants share-based awards to its employees. The following table presents a summary of Devon’s unvested restricted stock awards and units and performance share units granted under the plan.
|  | 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 12/31/22 |  |  | 5,788 |  |  | $ | 29.11 |  |  |  | 1,841 |  |  | $ | 31.33 |  |
Granted |  |  | 1,224 |  |  | $ | 62.95 |  |  |  | 743 |  |  | $ | 51.38 |  |
Vested |  |  | (2,905 | ) |  | $ | 25.18 |  |  |  | (1,037 | ) |  | $ | 27.89 |  |
Forfeited |  |  | (79 | ) |  | $ | 43.82 |  |  |  | — |  |  | $ | — |  |
Unvested at 6/30/23 |  |  | 4,028 |  |  | $ | 41.94 |  |  |  | 1,547 |  | (1) | $ | 43.25 |  |
(1) A maximum of 3.1 million common shares could be awarded based upon Devon’s final TSR ranking.
Summary Of Performance Share Units Grant-Date Fair Values And Their Related Assumptions | The following table presents the assumptions related to the performance share units granted in 2023, as indicated in the previous summary table. The grants in the previous summary table also include the impacts of performance share units granted in a prior year that vested higher than 100% of target due to Devon's TSR performance compared to our peers.
|  | 2023 |
Grant-date fair value |  | $ | 81.70 |
Risk-free interest rate |  |  | 4.15 | %
Volatility factor |  |  | 61.43 | %
Contractual term (years) |  |  | 2.89 |
Summary of Unrecognized Compensation Cost And Weighted Average Period For Recognition | The following table presents a summary of the unrecognized compensation cost and the related weighted average recognition period associated with unvested awards and units as of June 30, 2023.
|  | Restricted Stock |  |  | Performance |
|  | Awards/Units |  |  | Share Units |
Unrecognized compensation cost |  | $ | 118 |  |  | $ | 30 |
Weighted average period for recognition (years) |  |  | 2.8 |  |  |  | 1.9 |

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- 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 -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure of the changes in outstanding nonvested shares. + 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
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