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STOCK-BASED COMPENSATION
 3 Months Ended
Mar. 31, 2022
Share-based Payment Arrangement [Abstract]  
STOCK-BASED COMPENSATION STOCK-BASED COMPENSATION
 
The Company maintains equity incentive plans that include performance share units granted to officers and certain other employees, broad-based grants of restricted stock units, and stock options granted to certain employees.

During the three months ended March 31, 2021, the Company modified the performance-based awards granted in 2018 and 2019 to its executive officers, to fix the number of shares to be issued, subject to other vesting conditions. The modification, in aggregate, resulted in additional stock-based compensation expense of $40 million, which was recognized over the remaining requisite service periods for the performance-based awards.

Restricted stock units and performance share units granted by the Company during the three months ended March 31, 2022 had an aggregate grant-date fair value of $450 million. Restricted stock units and performance share units that vested during the three months ended March 31, 2022 had an aggregate fair value at vesting of $363 million. At March 31, 2022, there was $850 million of estimated total future stock-based compensation expense related to unvested restricted stock units and performance share units to be recognized over a weighted-average period of 2.3 years, and $21 million of estimated total future stock-based compensation expense related to unvested stock options to be recognized over a weighted-average period of 0.9 years.

The following table summarizes the activity in restricted stock units for employees and non-employee directors during the three months ended March 31, 2022: 
Restricted Stock UnitsSharesWeighted-average Grant-date Fair Value
Unvested at December 31, 2021281,924 $1,914 
Granted161,384 $2,102 
Vested(129,438)$1,805 
Forfeited(11,234)$2,022 
Unvested at March 31, 2022302,636 $2,057 

The following table summarizes the activity in performance share units for employees during the three months ended March 31, 2022:
Performance Share UnitsSharesWeighted-average Grant-date Fair Value
Unvested at December 31, 2021(1)
108,323 $2,123 
Granted(2),(3)
50,063 $2,211 
Vested(42,888)$1,854 
Performance shares adjustment (4)
31,598 $2,392 
Forfeited(1,128)$2,274 
Unvested at March 31, 2022145,968 $2,290 
(1)    Excludes 12,251 performance share units awarded during the year ended December 31, 2021 for which the grant date under Accounting Standards Codification ("ASC") 718, Compensation - Stock Compensation, was not established as of December 31, 2021. Among other conditions, for the grant date to be established, a mutual understanding is required to be reached between the Company and the employee of the key terms and conditions of the award, including the performance targets. The performance targets for each of the annual performance periods under the award are set at the beginning of the respective year.
(2)     Excludes 9,692 performance share units awarded during the three months ended March 31, 2022 for which the grant date under ASC 718 has not been established as of March 31, 2022.
(3)     Includes 7,856 performance share units awarded during the year ended December 31, 2021 for which the grant date under ASC 718 was established.
(4)    Probable outcome for performance-based awards is updated based upon changes in actual and forecasted operating results or expected achievement of performance goals, as applicable, and the impact of modifications.
The following table summarizes the activity in stock options during the three months ended March 31, 2022: 
Employee Stock Options Number of SharesWeighted-average
 Exercise Price		Aggregate
 Intrinsic Value (in millions)		Weighted-average Remaining Contractual Term
(in years)
Balance, December 31, 2021135,851 $1,407 $135 8.3
Exercised(2,386)$1,411 
Forfeited (3,085)$1,411 
Balance, March 31, 2022130,380 $1,407 $123 8.0
Exercisable at March 31, 20221,317 $1,015 $2 1.1