Note 13 - Share-based Compensation

9 Months Ended

Sep. 30, 2023

Notes to Financial Statements

Share-Based Payment Arrangement [Text Block]

13. Share-Based Compensation

Total share-based compensation cost was $57 million and $168 million for the three and nine months ended September 30, 2023, respectively, and $52 million and $145 million for the three and nine months ended September 30, 2022, respectively.  

Incentive Stock Plans

Time-Based Restricted Stock and Restricted Stock Units

The following table summarizes the changes in non-vested time-based restricted stock and restricted stock units for the nine months ended September 30, 2023:

				Weighted
	Number			average
	of shares			grant-date
	(in thousands)			fair value
Non-vested shares and share units as of December 31, 2022		11,299		$	29.19
Granted		7,221			35.06
Vested		(4,462	)		23.71
Forfeited		(534	)		33.97
Non-vested shares and share units as of September 30, 2023		13,524		$	33.94

Performance-Based Restricted Stock Units

The following table summarizes the changes in non-vested performance-based restricted stock units for the nine months ended September 30, 2023:

				Weighted
	Number			average
	of shares			grant-date
	(in thousands)			fair value
Non-vested share units as of December 31, 2022		4,696		$	35.41
Granted		1,674			35.08
Vested		(3,586	)		33.37
Performance adjustments		(406	)		36.40
Forfeited		(37	)		36.08
Non-vested share units as of September 30, 2023		2,341		$	38.62

Stock Options

The following table summarizes information concerning stock options as of  September 30, 2023 and the related activity for the nine months ended September 30, 2023:

						Weighted-
						average
				Weighted-		remaining		Aggregate
	Number			average		contractual		intrinsic
	of shares			exercise		term		value
	(in thousands)			price		(in years)		(in thousands)
Options outstanding as of December 31, 2022		9,665		$	22.92
Exercised		(1,981	)		19.74
Forfeited and expired		(48	)		19.65
Options outstanding as of September 30, 2023		7,636			23.76		5.20	$	55,832
Options vested and exercisable as of September 30, 2023		7,636			23.76		5.20		55,832

There were no stock options granted during the nine months ended September 30, 2023 or 2022.