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STOCK-BASED COMPENSATION (Tables) | 12 Months Ended
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Dec. 31, 2021
Share-based Payment Arrangement [Abstract] |
Schedule of pre-tax compensation expense and the related income tax benefit for these stock-based incentives | Pre-tax compensation expense included in income from continuing operations for these stock-based incentives was as follows, in millions:
| Year Ended December 31,
| 2021 |  | 2020 |  | 2019
Long-term stock awards | $ | 10 |  |  | $ | 14 |  |  | $ | 20 |
Stock options | 7 |  |  | 7 |  |  | 4 |
Restricted stock units | 28 |  |  | 13 |  |  | — |
Performance restricted stock units | 10 |  |  | 5 |  |  | 3 |
Phantom stock awards | 6 |  |  | 4 |  |  | 4 |
Total | $ | 61 |  |  | $ | 43 |  |  | $ | 31 |
Schedule of the Company's long-term stock award activity | Our long-term stock award activity was as follows, shares in millions:
| Year Ended December 31,
| 2021 |  | 2020 |  | 2019
Unvested stock award shares at January 1 | 1 |  |  | 2 |  |  | 2 |
Weighted average grant date fair value | $ | 36 |  |  | $ | 34 |  |  | $ | 30 |
Stock award shares granted | — |  |  | — |  |  | 1 |
Weighted average grant date fair value | $ | — |  |  | $ | — |  |  | $ | 36 |
Stock award shares vested | — |  |  | 1 |  |  | 1 |
Weighted average grant date fair value | $ | 34 |  |  | $ | 32 |  |  | $ | 25 |
Stock award shares forfeited | — |  |  | — |  |  | — |
Weighted average grant date fair value | $ | 36 |  |  | $ | 35 |  |  | $ | 35 |
Unvested stock award shares at December 31 | 1 |  |  | 1 |  |  | 2 |
Weighted average grant date fair value | $ | 37 |  |  | $ | 36 |  |  | $ | 34 |
Information related to phantom stock awards was as follows, in millions:
| At December 31, |  |
| 2021 |  | 2020 |  |  |  |
Accrued compensation cost liability | $ | 8 |  |  | $ | 6 |  |  |  |  |
Unrecognized compensation cost | $ | 3 |  |  | $ | 4 |  |  |  |  |
Equivalent common shares | — |  |  | — |  |  |  |  |
Schedule of the Company's stock option activity | Our stock option activity was as follows, shares in millions:
| Year Ended December 31,
| 2021 |  | 2020 |  | 2019
Option shares outstanding, January 1 | 2 |  |  | 3 |  | 4
Weighted average exercise price | $ | 33 |  |  | $ | 27 |  | $ | 21
Option shares granted | 1 |  |  | 1 |  | 1
Weighted average exercise price | $ | 56 |  |  | $ | 48 |  | $ | 36
Option shares exercised | — |  | 2 |  | 2
Aggregate intrinsic value on date of exercise (A) | $ | 5 million |  | $ | 29 million |  | $ | 33 million
Weighted average exercise price | $ | 25 |  | $ | 17 |  | $ | 13
Option shares forfeited | — |  | — |  | —
Weighted average exercise price | $ | 11 |  |  | $ | 40 |  |  | $ | 34 |
Option shares outstanding, December 31 | 3 |  | 2 |  | 3
Weighted average exercise price | $ | 37 |  | $ | 33 |  | $ | 27
Weighted average remaining option term (in years) | 6 |  | 6 |  | 6
Option shares vested and expected to vest, December 31 | 3 |  | 2 |  | 3
Weighted average exercise price | $ | 36 |  | $ | 33 |  | $ | 27
Aggregate intrinsic value (A) | $ | 89 million |  | $ | 51 million |  | $ | 63 million
Weighted average remaining option term (in years) | 6 |  | 6 |  | 6
Option shares exercisable (vested), December 31 | 2 |  | 1 |  | 2
Weighted average exercise price | $ | 31 |  | $ | 28 |  | $ | 21
Aggregate intrinsic value (A) | $ | 63 million |  | $ | 35 million |  | $ | 47 million
Weighted average remaining option term (in years) | 5 |  | 5 |  | 4
______________________________ (A)Aggregate intrinsic value is calculated using our stock price at each respective date, less the exercise price (grant date price) multiplied by the number of shares.
Schedule of weighted average grant date fair value of option shares granted and the assumptions used to estimate those values using a Black-Scholes option pricing model | The weighted average grant date fair value of option shares granted and the assumptions used to estimate those values using a Black-Scholes option pricing model were as follows:
| Year Ended December 31,
| 2021 |  | 2020 |  | 2019
Weighted average grant date fair value | $ | 13.61 |  |  | $ | 10.67 |  |  | $ | 8.81 |
Risk-free interest rate | 0.75 | % |  | 1.53 | % |  | 2.57 | %
Dividend yield | 1.67 | % |  | 1.14 | % |  | 1.35 | %
Volatility factor | 30.00 | % |  | 24.00 | % |  | 25.00 | %
Expected option life | 6 years |  | 6 years |  | 6 years
Summary of stock option shares outstanding and exercisable | The following table summarizes information for stock option shares outstanding and exercisable, shares in millions:
At December 31, 2021
| Option Shares Outstanding |  | Option Shares Exercisable
| Range of Prices |  | Number of Shares |  | Weighted Average Remaining Option Term |  | Weighted Average Exercise Price |  | Number of Shares |  | Weighted Average Exercise Price
$ | 17 - 21 |  | — |  | 2 |  | $20 |  | — |  | $20
$ | 22 - 26 |  | 1 |  | 4 |  | $24 |  | 1 |  | $24
$ | 27 - 36 |  | 1 |  | 6 |  | $35 |  | 1 |  | $34
$ | 37 - 57 |  | 1 |  | 8 |  | $49 |  | — |  | $44
$ | 17 - 57 |  | 3 |  | 6 |  | $37 |  | 2 |  | $31

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