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Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

Stock based compensation expense

Total share-based compensation expense is reported in “General and administrative expenses” in the accompanying consolidated statements of income, and summarized below.

			Year Ended December 31,
			2022												2021												2020
			(In millions)
			Pretax Charges						Net-of-Tax Amount						Pretax Charges						Net-of-Tax Amount						Pretax Charges						Net-of-Tax Amount
RSAs and PSUs (defined below)			$	97					$	90					$	66					$	62					$	47					$	44
Employee stock purchase plan and stock options			6						6						6						6						10						9
Total			$	103					$	96					$	72					$	68					$	57					$	53

Restricted and performance stock activity

Activity for stock-based awards in the year ended December 31, 2022, is summarized below.

			RSAs						Weighted Average Grant Date Fair Value						PSUs						Weighted Average Grant Date Fair Value
Unvested balance, December 31, 2021			539,117						$	169.39					275,050						$	129.99
Granted			237,590						312.27						271,270						214.94
Vested			(224,345)						156.21						(219,674)						137.54
Forfeited			(41,257)						224.96						(13,816)						249.09
Unvested balance, December 31, 2022			511,105						$	237.10					312,830						$	193.09

Stock options, activity

The total grant date fair value of awards granted and vested is presented in the following table.

			Year Ended December 31,
			2022						2021						2020
			(In millions)
Granted:
RSAs			$	74					$	65					$	44
PSUs			43						—						23
Total granted			$	117					$	65					$	67
Vested:
RSAs			$	70					$	53					$	22
PSUs			69						71						1
Total vested			$	139					$	124					$	23

Stock Options. Stock option awards generally have an exercise price equal to the fair market value of our common stock on the date of grant, vest in equal annual installments over periods up to four years from the date of grant, and have a maximum term of ten years from the date of grant. Stock option activity for the year ended December 31, 2022, is summarized below.

			Number of Shares						Weighted Average Exercise Price						Aggregate Intrinsic Value						Weighted Average Remaining Contractual term
									(Per share)						(In millions)						(Years)
Stock options outstanding as of December 31, 2021			395,000						$	65.59
Exercised			(390,000)						66.01
Stock options outstanding, vested, and exercisable as of December 31, 2022			5,000						33.02						$	1					0.2

X

- Definition

Tabular disclosure of share-based payment arrangement.

+ References

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Tabular disclosure of the changes in outstanding nonvested shares.

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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.

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