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Share-Based Compensation Share-Based Compensation (Tables)

12 Months Ended

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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