Stock-based Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Share-based Payment Arrangement, Expensed and Capitalized, Amount

Stock-based compensation expense incurred by the Company was as follows:

($ in millions)	2021		2020		2019
Stock-based compensation expense recognized in:
Cost of sales	$	11	$	17	$	16
Selling, general and administrative	36		19		21
Research and Development	12		4		4
	$	59	$	40	$	41
Income tax benefits	12		8		9

Schedule of Stock Option Valuation Assumptions

The weighted average fair value of options was determined using the following assumptions:

	Year Ended December 31, 2021
Expected dividend yield	3.22	%
Risk-free interest rate	0.92	%
Expected volatility	45.80	%
Expected term (years)	5.89

Share-based Payment Arrangement, Performance Shares, Activity

A summary of the transactions under the 2021 Incentive Stock Plan as of December 31, 2021 follows:

	Stock Options					Restricted Share Units			Performance Share Units
(shares in thousands)	Shares	Weighted average exercise price		Weighted average grant date fair value		Shares	Weighted average grant date fair value		Shares	Weighted average grant date fair value
Outstanding as of June 2, 2021	4,097	$	34.30	$	8.55	3,311	$	36.77	—	$	—
Granted	379	$	35.38	$	11.20	88	$	34.72	120	$	51.63
Vested/Exercised	—	$	—	$	—	(52)	$	38.46	—	$	—
Forfeited/Cancelled	(82)	$	36.52	$	9.05	(67)	$	36.55	—	$	—
Outstanding as of December 31, 2021	4,394	$	34.35	$	8.63	3,280	$	36.69	120	$	51.63

Share-based Payment Arrangement, Activity

The following table summarizes information about equity awards outstanding that are vested and expected to vest and equity awards outstanding that are exercisable at December 31, 2021:

	Equity Awards Vested and Expected to Vest						Equity Awards That are Exercisable
(shares in thousands; aggregate intrinsic value in millions)	Awards	Weighted Average Exercise Price		Aggregate Intrinsic Value		Weighted Average Remaining Term	Awards	Weighted Average Exercise Price		Aggregate Intrinsic Value		Weighted Average Remaining Term
Stock Options	4,134	$	34.35	$	2	8.02	1,454	$	30.66	$	2	5.65
Restricted Share Units	3,051	—		100		1.99	—	—		—		—
Performance Share Units	102	—		4		2.63	—	—		—		—