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SHARE-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2021

Activity

The following table shows our RSU activity for 2021:

	RESTRICTED STOCK UNITS (IN THOUSANDS)			WEIGHTED AVERAGE GRANT-DATE FAIR VALUE
Nonvested at December 31, 2020		1,851		$	29.67
Granted		751		$	33.62
Vested		(799	)	$	31.16
Forfeited		(47	)	$	31.16

Nonvested at December 31, 2021⁽¹⁾		1,756		$	30.87

(1)	As of December 31, 2021, there were approximately 245 thousand RSUs that had met the requisite service period and will be released as identified in the grant terms.

Weighted Average Assumptions Used in Estimating the Value of PSUs

	2021 GRANTS		2020 GRANTS		2019 GRANTS
Performance period	2/11/2021 - 12/31/2023		2/13/2020 - 12/31/2022		1/1/2019 - 12/31/2021
Expected dividends	1.99%		4.50%		5.25%
Risk-free rate	0.02% - 0.20%		1.45% - 1.62%		2.43% - 2.55%
Volatility	32.87% - 52.82%		20.02% - 22.40%		22.50% - 27.40%
Weighted average grant-date fair value	$	38.50	$	33.16	$	29.66

Activity

The following table shows our PSU activity for 2021:

	GRANTS (IN THOUSANDS)			WEIGHTED AVERAGE GRANT-DATE FAIR VALUE
Nonvested at December 31, 2020		1,098		$	32.58
Granted at target		353			38.50
Vested		(228	)		35.49
Forfeited		(20	)		35.28
Performance adjustment		(99	)		35.49

Nonvested at December 31, 2021⁽¹⁾		1,104		$	33.56

(1)	As of December 31, 2021, there were approximately 196 thousand PSUs that had met the requisite service period and will be released as identified in the grant terms.

Activity

The following table shows our stock option activity for 2021:

	OPTIONS (IN THOUSANDS)			WEIGHTED AVERAGE EXERCISE PRICE		WEIGHTED AVERAGE REMAINING CONTRACTUAL TERM (IN YEARS)		AGGREGATE INTRINSIC VALUE (IN MILLIONS)
Outstanding at December 31, 2020		3,768		$	28.82
Exercised		(1,850	)	$	27.70
Forfeited or expired		(1	)	$	35.40

Outstanding at December 31, 2021		1,917		$	29.88		2.99	$	22

Exercisable at December 31, 2021		1,917		$	29.88		2.99	$	22