XML 54 R42.htm IDEA: XBRL DOCUMENT
v3.22.4

STOCK-BASED COMPENSATION (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
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,
| 2022 |  | 2021 |  | 2020
Restricted stock units | $ | 32 |  |  | $ | 28 |  |  | $ | 13 |
Performance restricted stock units | 3 |  |  | 10 |  |  | 5 |
Stock options | 7 |  |  | 7 |  |  | 7 |
Long-term stock awards | 6 |  |  | 10 |  |  | 14 |
Phantom stock awards | 1 |  |  | 6 |  |  | 4 |
Total | $ | 49 |  |  | $ | 61 |  |  | $ | 43 |
Schedule of the Company's long-term stock award activity | Our restricted stock unit activity was as follows, units in thousands:
| Year Ended December 31,
| 2022 |  | 2021 |  | 2020
| Number of Shares |  | Weighted Average Grant Date Fair Value |  | Number of Shares |  | Weighted Average Grant Date Fair Value |  | Number of Shares |  | Weighted Average Grant Date Fair Value
Unvested restricted stock units at January 1 | 934 |  | $ | 54 |  |  | 435 |  | $ | 47 |  |  | — |  | $ | — |
Granted | 621 |  | 59 |  |  | 670 |  | 57 |  |  | 446 |  | 47 |
Vested | (351) |  | 53 |  |  | (142) |  | 47 |  |  | — |  | — |
Forfeited | (50) |  | 54 |  |  | (29) |  | 54 |  |  | (11) |  | 48 |
Unvested restricted stock units at December 31 | 1,154 |  | $ | 57 |  |  | 934 |  | $ | 54 |  |  | 435 |  | $ | 47 |
Our long-term stock award activity was as follows, shares in thousands:
| Year Ended December 31,
| 2022 |  | 2021 |  | 2020
| Number of Shares |  | Weighted Average Grant Date Fair Value |  | Number of Shares |  | Weighted Average Grant Date Fair Value |  | Number of Shares |  | Weighted Average Grant Date Fair Value
Unvested stock award shares at January 1 | 608 |  | $ | 37 |  |  | 1,125 |  | $ | 36 |  |  | 1,910 |  | $ | 34 |
Vested | (324) |  | 37 |  |  | (491) |  | 34 |  |  | (655) |  | 32 |
Forfeited | (11) |  | 38 |  |  | (26) |  | 36 |  |  | (130) |  | 35 |
Unvested stock award shares at December 31 | 273 |  | $ | 38 |  |  | 608 |  | $ | 37 |  |  | 1,125 |  | $ | 36 |
Information related to phantom stock awards was as follows, dollars in millions and shares in thousands:
| At December 31, |  |
| 2022 |  | 2021 |  |  |  |
Accrued compensation cost liability | $ | 5 |  |  | $ | 8 |  |  |  |  |
Unrecognized compensation cost | $ | 2 |  |  | $ | 3 |  |  |  |  |
Equivalent common shares | 149 |  |  | 169 |  |  |  |  |
Schedule of the Company's stock option activity | Our stock option activity was as follows, shares in thousands:
| Year Ended December 31,
| 2022 | 2021 | 2020
| Number of Shares |  | Weighted Average Exercise Price |  | Number of Shares |  | Weighted Average Exercise Price |  | Number of Shares |  | Weighted Average Exercise Price
Outstanding stock options at January 1 | 2,692 |  | $ | 37 |  |  | 2,488 |  | $ | 33 |  |  | 3,006 |  | $ | 27 |
Granted | 338 |  | 59 |  |  | 332 |  | 56 |  |  | 421 |  | 48 |
Exercised | (32) |  | 34 |  |  | (128) |  | 25 |  |  | (878) |  | 17 |
Forfeited | (10) |  | 37 |  |  | — |  | 11 |  |  | (61) |  | 40 |
Outstanding stock options at December 31 | 2,988 |  | $ | 39 |  |  | 2,692 |  | $ | 37 |  |  | 2,488 |  | $ | 33 |
Vested and expected to vest stock options at December 31 | 2,966 |  | $ | 39 |  |  | 2,617 |  | $ | 36 |  |  | 2,338 |  | $ | 33 |
Exercisable (vested) stock options at December 31 | 2,051 |  | $ | 34 |  |  | 1,606 |  | $ | 31 |  |  | 1,283 |  | $ | 28 |
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,
| 2022 |  | 2021 |  | 2020
Weighted average grant date fair value | $ | 14.66 |  |  | $ | 13.61 |  |  | $ | 10.67 |
Risk-free interest rate | 1.90 | % |  | 0.75 | % |  | 1.53 | %
Dividend yield | 1.89 | % |  | 1.67 | % |  | 1.14 | %
Volatility factor | 29.00 | % |  | 30.00 | % |  | 24.00 | %
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 thousands:
At December 31, 2022
| 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 |  | 191 |  | 1 |  | $20 |  | 191 |  | $20
$ | 22 - 26 |  | 628 |  | 3 |  | $24 |  | 628 |  | $24
$ | 27 - 36 |  | 786 |  | 5 |  | $35 |  | 604 |  | $35
$ | 37 - 60 |  | 1,383 |  | 7 |  | $51 |  | 628 |  | $47
$ | 17 - 60 |  | 2,988 |  | 5 |  | $39 |  | 2,051 |  | $34

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 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 https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms. + 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 -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + 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 (d) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
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 -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
Name: | us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration