XML 30 R21.htm IDEA: XBRL DOCUMENT
v3.22.1

Stock-Based Compensation | 3 Months Ended
--- | ---
Mar. 31, 2022
Share-based Payment Arrangement [Abstract] |
Stock-Based Compensation | Stock-Based Compensation We recorded stock-based compensation expense of $6 million and $4 million ($4 million and $3 million, net of tax) during the three months ended March 31, 2022 and 2021, respectively. In 2020, we granted market-based restricted stock units (“RSUs”) that vest based on absolute stock price attainment. The grant date fair value of this award is estimated using a Monte Carlo simulation model. The weighted average assumptions used in the model are as follows:
Expected volatility of stock price |  | 91% |
Risk-free interest rate |  | 0.18% |
Valuation period |  | 3 years |
Dividend yield |  | —% |
The activity related to RSUs consisted of (in thousands of shares):
|  |  | Number of Shares |  | Weighted Average Grant Date Fair Value |  | Weighted Average Remaining Contractual Term (years) |  | Aggregate Intrinsic Value (in millions)
Time-based RSUs |  |  |  |  |  |  |
| Outstanding at January 1, 2022 | 671 |  |  | $ | 39.39 |  |  |  |  |
|  | Granted (a) | 67 |  |  | 194.74 |  |  |  |  |
|  | Vested (b) | (260) |  |  | 34.00 |  |  |  |  |
|  | Forfeited | (6) |  |  | 36.03 |  |  |  |  |
| Outstanding and expected to vest at March 31, 2022 (c) | 472 |  |  | $ | 64.49 |  |  | 1.1 |  | $ | 124 |
Performance-based and market-based RSUs |  |  |  |  |  |  |
| Outstanding at January 1, 2022 | 886 |  |  | $ | 35.40 |  |  |  |  |
|  | Granted (a) | 96 |  |  | 194.74 |  |  |  |  |
|  | Vested (b) | (163) |  |  | 34.82 |  |  |  |  |
|  | Forfeited | (15) |  |  | 32.42 |  |  |  |  |
| Outstanding at March 31, 2022 | 804 |  |  | $ | 54.58 |  |  | 1.5 |  | $ | 212 |
| Outstanding and expected to vest at March 31, 2022 (c) | 796 |  |  | $ | 53.17 |  |  | 1.5 |  | $ | 210 |
__________ (a)Reflects the maximum number of stock units assuming achievement of all performance-, market- and time-vesting criteria and does not include those for non-employee directors. The weighted-average fair value of time-based RSUs and performance-based RSUs granted during the three months ended March 31, 2021 was $63.12 and $62.27, respectively. (b)The total fair value of RSUs vested during the three months ended March 31, 2022 and 2021 was $15 million and $11 million, respectively. (c)Aggregate unrecognized compensation expense related to time-based RSUs and performance-based and market-based RSUs amounted to $55 million and will be recognized over a weighted average vesting period of 1.4 years.

X
- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration