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Share-Based Compensation Share-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2021
Share-based Payment Arrangement, Noncash Expense [Abstract] |
Summary of Components of Share-Based Compensation Expense | The components of share-based compensation expense for all share-based compensation plans and related tax benefits are as follows:
(in millions) |  |  |  |  |
Years Ended December 31 | 2021 |  | 2020 |  | 2019
Total share-based compensation expense | $ | 41 |  |  | $ | 24 |  |  | $ | 39 |
Related tax benefits recognized in net income | $ | 10 |  |  | $ | 6 |  |  | $ | 9 |
Schedule of Unrecognized Compensation Expense | The following table summarizes unrecognized compensation expense for all share-based plans.
(dollar amounts in millions) | December 31, 2021
Total unrecognized share-based compensation expense | $ | 37 |
Weighted-average expected recognition period (in years) | 2.2 |
Estimated Weighted-Average Grant-Date Fair Value per Option and the Underlying Model Assumptions | The estimated weighted-average grant-date fair value per option and the underlying binomial option-pricing model assumptions are summarized in the following table:
Years Ended December 31 | 2021 |  | 2020 |  | 2019
Weighted-average grant-date fair value per option | $ | 18.36 |  |  | $ | 13.03 |  |  | $ | 22.27 |
Weighted-average assumptions: |  |  |  |  |
Risk-free interest rates | 1.05 | % |  | 1.65 | % |  | 2.74 | %
Expected dividend yield | 4.00 |  |  | 4.14 |  |  | 3.00 |
Volatility | 39 |  |  | 27 |  |  | 30 |
Expected option life (in years) | 7.8 |  |  | 8.4 |  |  | 7.6 |
Summary of Stock Option Activity and Related Information | A summary of the Corporation’s stock option activity and related information for the year ended December 31, 2021 follows:
|  |  | Weighted-Average |  |
| Number of Options (in thousands) |  | Exercise Price per Share |  | Remaining Contractual Term (in years) |  | Aggregate Intrinsic Value (in millions)
Outstanding-January 1, 2021 | 2,879 |  |  | $ | 52.81 |  |  |  |  |
Granted | 233 |  |  | 60.20 |  |  |  |  |
Forfeited or expired | (33) |  |  | 69.42 |  |  |  |  |
Exercised | (835) |  |  | 41.60 |  |  |  |  |
Outstanding-December 31, 2021 | 2,244 |  |  | 57.50 |  |  | 5.5 |  |  | $ | 68 |
Exercisable-December 31, 2021 | 1,487 |  |  | $ | 53.02 |  |  | 4.2 |  |  | $ | 52 |
Summary of Restricted Stock Activity and Related Information | A summary of the Corporation’s restricted stock activity and related information for the year ended December 31, 2021 follows:
| Number of Shares (in thousands) |  | Weighted-Average Grant-Date Fair Value per Share
Outstanding-January 1, 2021 | 176 |  | 48.85 |
Forfeited | (4) |  |  | 67.87 |
Vested | (131) |  |  | 44.38 |
Outstanding-December 31, 2021 | 41 |  |  | $ | 61.64 |
Summary of Restricted Stock Unit Activity and Related Information | A summary of the Corporation's restricted stock unit activity and related information for the year ended December 31, 2021 follows:
| Service-Based Units |  | Performance-Based Units
| Number of Units (in thousands) |  | Weighted-Average Grant-Date Fair Value per Share |  | Number of Units (in thousands) |  | Weighted-Average Grant-Date Fair Value per Share
Outstanding-January 1, 2021 | 1,048 |  |  | $ | 61.52 |  |  | 690 |  |  | $ | 73.48 |
Granted | 456 |  |  | 60.92 |  |  | 332 |  |  | 58.64 |
Forfeited | (41) |  |  | 62.09 |  |  | (17) |  |  | 64.38 |
Vested | (117) |  |  | 86.13 |  |  | (189) |  |  | 93.02 |
Outstanding-December 31, 2021 | 1,346 |  |  | 59.18 |  |  | 816 |  |  | 63.12 |

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- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + 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 http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 14.F) -URI http://asc.fasb.org/extlink&oid=122041274&loc=d3e301413-122809 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901 + Details
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- Definition Tabular disclosure of the changes in outstanding nonvested restricted stock units. + 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 (c)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- 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 http://asc.fasb.org/extlink&oid=120381028&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 http://asc.fasb.org/extlink&oid=120381028&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 http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- 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 http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of cost not yet recognized and weighted-average period over which cost is expected to be recognized for nonvested award under share-based payment arrangement. + 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 (i) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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