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Stock-Based Compensation Plans (Tables)
12 Months Ended
Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of Stock Option Activity
A summary of stock option activity is as follows:
Number of
Shares
Weighted Average
Exercise Price ($)
Weighted Average
Remaining Contractual
Term (Years)
Aggregate Intrinsic Value
of In-the-Money
Options ($)
Outstanding, December 31, 20194,006,816 $18.18 
Exercised
(1,756,471)18.53 
Forfeited
(57,744)19.08 
Expired(6,090)18.44 
Outstanding, December 31, 20202,186,511 $17.87 3.96$44,944,958 
Exercisable, December 31, 20202,039,275 $17.72 4.16$42,231,530 
Black-Scholes Option-Pricing Model  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of Grant Date Fair Value Weighted Average Assumptions, Options
The fair value of options granted during the year ended December 31, 2018, were estimated on the date of grant using the Black-Scholes option-pricing model, acceptable under ASC 718, with the following weighted average assumptions:
Year Ended December 31, 2018
Expected life (years)
5.6
Risk-free interest rate
2.7 %
Expected volatility
26.4 %
Expected dividend yield
— 
LTIP Performance Shares  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of Nonvested Performance Award Activity
A summary of the nonvested LTIP performance shares is as follows:
Number of Shares at
Expected Attainment
Weighted Average
Grant Date Fair Value
Nonvested at December 31, 2019669,469 $20.12 
Vested(668,240)20.12 
Forfeited(5,368)20.12 
Change in expected attainment4,139 20.12 
Nonvested at December 31, 2020— $— 
Restricted Share Awards (RSAs)  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of Nonvested Restricted Share Award Activity
A summary of nonvested RSAs is as follows:
Number of
Shares
Weighted Average
Grant Date Fair Value
Nonvested at December 31, 201992,842 $20.13 
Vested(88,913)20.12 
Forfeited(3,929)20.35 
Nonvested at December 31, 2020— $— 
Total Shareholder Return Awards (TSRs)  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of Nonvested Performance Award Activity
A summary of nonvested TSRs is as follows:
Number of
Shares
Weighted Average
Grant Date Fair Value
Nonvested as of December 31, 20191,062,291 $35.77 
Granted677,195 30.01 
Vested(199,413)24.37 
Forfeited(158,086)36.69 
Change in payout rate(14,259)24.37 
Nonvested as of December 31, 20201,367,728 $34.59 
Total Shareholder Return Awards (TSRs) | Monte Carlo Simulation Model  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of Grant Date Fair Value Weighted Average Assumptions, Awards Other Than Options
The fair value of TSRs granted during the years ended December 31, 2020, 2019, and 2018, were estimated on the date of grant using the Monte Carlo simulation model, acceptable under ASC 718, using the following weighted-average assumptions:
 Years Ended December 31,
 202020192018
Expected life (years)2.82.82.9
Risk-free interest rate0.5 %2.5 %2.4 %
Volatility31.4 %29.3 %28.0 %
Expected dividend yield— — — 
Restricted Stock Units (RSUs)  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of Nonvested Restricted Share Unit Activity
A summary of nonvested RSUs is as follows:
Number of
Shares
Weighted Average
Grant Date Fair Value
Nonvested as of December 31, 20191,009,404 $29.96 
Granted816,543 25.72 
Vested(431,504)29.60 
Forfeited(276,261)28.57 
Nonvested as of December 31, 20201,118,182 $27.34