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Share-based Payments (Tables)
12 Months Ended
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]  
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions Assumptions used to calculate the fair value of stock options awarded in 2017 are noted in the following table. There were no stock options granted or issued in 2022, 2021, or 2020. Expected volatility is based on the simple average of implied and historical volatility using the daily closing prices of the Company’s stock for a period equal to the expected term of the option. The risk-free interest rate is based on the U.S. Treasury rate at the time of the grant for instruments of comparable life.
 Year Ended December 31, 2017
Weighted average assumptions used in option valuations:
Expected volatility35.35 %
Expected dividend yield1.97 %
Expected term (in years)7
Risk-free interest rate2.34 %
Schedule of Share-based Compensation, Stock Options, Activity A summary of the status of our stock options as of December 31, 2022, and activity during 2022, is as follows:
Shares
(in millions)
Weighted
Average
Exercise
Price
Weighted Average Remaining Contractual Term (Years)Aggregate
Intrinsic
Value
Outstanding as of December 31, 20211.1 $38.47 
Granted— — 
Exercised(0.4)$40.15 
Cancelled or forfeited(0.1)$53.55 
Outstanding as of December 31, 20220.6 $36.12 2.98$6.5 
Exercisable as of December 31, 20220.6 $36.12 2.98$6.5 
Schedule of Share-based Compensation, Restricted Stock Units Award Activity A summary of the status of our restricted stock units as of December 31, 2022, and activity during 2022, is as follows:
Shares
(in millions)
Weighted
Average
Grant
Date Fair
Value Per
Share
Restricted stock units as of December 31, 20212.4 $22.44 
Granted0.4 55.54 
Issued and cancelled or forfeited(0.6)$26.71 
Restricted stock units as of December 31, 20222.2 $27.68 
Schedule Of Nonvested Performance Based Units Valuation Assumptions
A summary of the assumptions used to estimate the fair value of TSR performance units is as follows:
Years Ended December 31,
202220212020
Performance units granted540,915 717,952 1,309,170 
Average fair value of performance units on grant date$55.08 $27.91 $13.52 
Weighted average assumptions used in performance unit valuations:
Expected volatility54.77 %58.26 %43.49 %
Expected dividend yield0.81 %0.68 %1.24 %
Expected term (in years)333
Risk-free interest rate1.68 %0.32 %0.61 %
The performance units granted as of December 31, 2022, 2021 and 2020 include 195,755, 262,308, 419,472 cash-settled performance units, respectively.
Schedule of Nonvested Performance-based Units Activity
A summary of our performance unit activity during 2022 is as follows:
Shares
(in millions)
Weighted
Average
Grant
Date Fair
Value Per
Share
Outstanding as of December 31, 20212.8 $18.91 
Granted0.5 55.08 
Issued and cancelled or forfeited(0.7)$25.70 
Outstanding as of December 31, 20222.6 $21.89 
The outstanding performance units as of December 31, 2022, and 2021 include 791,624 and 885,562 cash-settled performance units, respectively.