XML 55 R33.htm IDEA: XBRL DOCUMENT v3.22.4
STOCK-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]  
Activity of restricted stock units
The following table summarizes the activity of restricted stock units for employees and non-employee directors during the year ended December 31, 2022: 
Restricted Stock UnitsSharesWeighted-average Grant-date Fair Value
Unvested at December 31, 2021281,924 $1,914 
Granted180,259 $2,098 
Vested(147,201)$1,809 
Forfeited(34,522)$2,058 
Unvested at December 31, 2022280,460 $2,070 
Activity of performance share units
The following table summarizes the activity of performance share units for employees during the year ended December 31, 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)
33,742 $2,390 
Forfeited(4,530)$2,244 
Unvested at December 31, 2022
143,702 $2,294 
(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 year ended December 31, 2022 for which the grant date under ASC 718 has not been established as of December 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 during the year ended December 31, 2022.
(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.
Assumptions used to value option grants
The following table summarizes the assumptions used to value options granted during the year ended December 31, 2020 using the Black-Scholes options pricing model:

Black-Scholes assumptions
Risk-free interest rate0.56 %
Expected term in years6.4
Expected stock price volatility33.8 %
Expected dividend yield0 %
Activity for stock options
The following table summarizes the activity for stock options during the year ended December 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(5,306)$1,374 
Forfeited (9,732)$1,411 
Balance, December 31, 2022120,813 $1,408 $73 7.3
Exercisable at December 31, 2022624 $891 $1 1.2