XML 61 R47.htm IDEA: XBRL DOCUMENT v3.22.4
STOCK COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]  
Disclosure of Share-based Compensation Expense
Stock-based compensation expense included in Marketing and administrative expenses in the accompanying Consolidated Statements of Earnings (Loss) is as follows (in millions):
Twelve Months Ended December 31,
202220212020
Total stock-based compensation expense$51 $50 $41 
Income tax benefit recognized on stock-based compensation expense$11 $14 $14 
Schedule of Share-based Compensation, Stock Options, Activity
The following table summarizes the Company’s stock option activity in 2022:
Weighted-Average
 
Number of
Options
Exercise PriceRemaining
Contractual Life
(in years)		Intrinsic Value (in millions)
Outstanding, December 31, 2021
55,900 $39.34 1.71$3 
Exercised(28,900)40.93 
Outstanding, December 31, 2022
27,000 $37.65 1.1$1 
Exercisable, December 31, 2022
27,000 $37.65 1.1$1 
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding and Exercisable
The total cash received from the exercise of stock options and the resulting tax benefits received were as follows (in millions):
Twelve Months Ended December 31,
202220212020
Cash received upon exercise of stock option awards$1 $11 $2 
Income tax benefit received for stock option awards exercised$— $4 $— 
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity The following table shows a summary of the Company’s RSU plans:
 Number of
RSUs		Weighted-
Average
Fair Value
Balance at January 1, 2022
1,268,993 $62.25 
Granted393,834 90.41 
Vested(326,848)65.87 
Forfeited(59,819)75.41 
Balance at December 31, 2022
1,276,160 $69.16 
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions
The following table provides a range of these assumptions:    
Twelve Months Ended December 31,
202220212020
Expected volatility41.65%
42.74% — 43.67%
28.43% — 44.83%
Risk free interest rate1.36%
0.18% — 0.24%
0.15% — 1.43%
Expected term (in years)2.91
2.56 — 2.90
2.31 — 2.90
Grant date fair value of units granted$122.69
$99.19 — $127.37
$68.60 — $76.58
Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Performance-Based Units, Vested and Expected to Vest The following table shows a summary of the Company's PSU plans:
 Number of
PSUs
Weighted-
Average
Grant Date
Fair Value
Balance as of January 1, 2022
309,971 $74.78 
Granted146,784 98.94 
Vested(140,988)63.48 
Forfeited(12,051)80.07 
Balance as of December 31, 2022
303,716 $91.47 
Schedule of Share-based Compensation, Employee Stock Purchase Plan, Activity
The following table shows a summary of employee purchase activity under the ESPP:    
Twelve Months Ended December 31,
202220212020
Total shares purchased by employees293,364 289,945 366,442 
Average purchase price$74.19 $66.68 $45.17