Stock-Based Compensation Plans (Tables)

3 Months Ended

Mar. 31, 2023

Share-Based Payment Arrangement [Abstract]

Share-based Payment Arrangement, Expensed and Capitalized, Amount

Stock-based compensation expenses incurred by the Company were as follows:

	Three Months Ended March 31,
($ in millions)	2023		2022
Stock-based compensation expense recognized in:
Cost of sales	$	4	$	3
Selling, general and administrative	15		10
Research and development	3		2
Total	$	22	$	15
Income tax benefits	$	5	$	3

Schedule of Stock Option Valuation Assumptions

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

	Three Months Ended March 31,
	2023		2022
Expected dividend yield	4.82	%	3.12	%
Risk-free interest rate	3.56		2.47
Expected volatility	42.30		43.43
Expected life (years)	5.89		5.89

Share-based Payment Arrangement, Performance Shares, Activity

A summary of the equity award transactions for the three months ended March 31, 2023 are as 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 January 1, 2023	4,729	$	34.34	$	8.91	5,048	$	33.27	486	$	46.72
Granted	1,124	23.52		6.55		3,730	23.56		—	—
Vested/Exercised	—	—		—		(1,080)	32.00		—	—
Forfeited/Cancelled	(82)	36.12		8.70		(221)	34.54		—	—
Outstanding as of March 31, 2023	5,771	$	32.21	$	8.45	7,477	$	28.57	486	$	46.72

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 as of March 31, 2023:

	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		Remaining Term	Awards	Weighted Average Exercise Price		Aggregate Intrinsic Value		Remaining Term
Stock Options	5,517	$	32.21	$	—	7.55	2,536	$	33.03	$	—	5.90
Restricted Share Units	6,809			176		2.36
Performance Share Units	291			8		1.67