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STOCK-BASED COMPENSATION
 6 Months Ended
Jun. 30, 2022
Share-based Payment Arrangement [Abstract]  
STOCK-BASED COMPENSATION STOCK-BASED COMPENSATION
 
The Company maintains equity incentive plans that include broad-based grants of restricted stock units, performance share units granted to officers and certain other employees, and stock options granted to certain employees.

Restricted stock units and performance share units granted by the Company during the three and six months ended June 30, 2022 had an aggregate grant-date fair value of $13 million and $463 million, respectively. Restricted stock units and performance share units that vested during the three and six months ended June 30, 2022 had an aggregate fair value at vesting of $12 million and $375 million, respectively. At June 30, 2022, there was $725 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 2.1 years, and $14 million of estimated total future stock-based compensation expense related to unvested stock options to be recognized over a weighted-average period of 0.7 year.

The following table summarizes the activity in restricted stock units for employees and non-employee directors during the six months ended June 30, 2022: 
Restricted Stock UnitsSharesWeighted-average Grant-date Fair Value
Unvested at December 31, 2021281,924 $1,914 
Granted167,102 $2,103 
Vested(134,626)$1,778 
Forfeited(22,419)$2,056 
Unvested at June 30, 2022291,981 $2,074 

During the six months ended June 30, 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.
The following table summarizes the activity in performance share units for employees during the six months ended June 30, 2022:
Performance Share UnitsSharesWeighted-average Grant-date Fair Value
Unvested at December 31, 2021 (1)
108,323 $2,123 
Granted (2),(3)
50,443 $2,210 
Vested(44,276)$1,859 
Performance shares adjustment (4)
34,271 $2,389 
Forfeited(1,521)$2,413 
Unvested at June 30, 2022147,240 $2,293 
(1)    Excludes 12,251 performance share units awarded during the year ended December 31, 2021 for which the grant date under 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 six months ended June 30, 2022 for which the grant date under ASC 718 has not been established as of June 30, 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 six months ended June 30, 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(3,813)$1,359 
Forfeited (3,885)$1,411 
Balance, June 30, 2022128,153 $1,408 $44 7.7
Exercisable at June 30, 20222,117 $1,258 $1 0.7