Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2022

Share-based Payment Arrangement [Abstract]

Summary of Stock Options Outstanding and Exercised Under Prior and Existing Stock Incentive Plans

The following is a summary of stock options outstanding and exercised under prior and existing stock incentive plans of the Company:

Year Ended December 31	Stock Options/Shares			Weighted- Average Exercise Price		Weighted-Average Remaining Contractual Term		Aggregate Intrinsic Value (in millions)
2022
Number outstanding at beginning of period		3,890,131		$	42.58
Exercised		(624,729	)		32.87
Cancelled(a)		(12,312	)		50.97
Number outstanding at end of period(b)		3,253,090		$	44.42		2.7	$	–
Exercisable at end of period		3,253,090		$	44.42		2.7	$	–
2021
Number outstanding at beginning of period		5,180,391		$	40.38
Exercised		(1,281,646	)		33.66
Cancelled(a)		(8,614	)		48.20
Number outstanding at end of period(b)		3,890,131		$	42.58		3.3	$	53
Exercisable at end of period		3,890,131		$	42.58		3.3	$	53
2020
Number outstanding at beginning of period		5,718,256		$	39.25
Exercised		(513,293	)		27.48
Cancelled(a)		(24,572	)		45.08
Number outstanding at end of period(b)		5,180,391		$	40.38		3.7	$	32
Exercisable at end of period		4,942,077		$	39.68		3.6	$	34

Note: The Company did not grant any stock option awards during 2022, 2021, and 2020.

(a) Options cancelled include both non-vested (i.e., forfeitures) and vested options.

(b) Outstanding options include stock-based awards that may be forfeited in future periods. The impact of the estimated forfeitures is reflected in compensation expense.

Summary of Certain Stock Option Activity

The following summarizes certain stock option activity of the Company:

Year Ended December 31 (Dollars in Millions)	2022		2021		2020
Fair value of options vested	$	–	$	3	$	7
Intrinsic value of options exercised		15		27		11
Cash received from options exercised		21		43		14
Tax benefit realized from options exercised		4		7		3

Stock Options Outstanding Additional Information

Additional information regarding stock options outstanding as of December 31, 2022, is as follows:

	Outstanding Options						Exercisable Options
Range of Exercise Prices	Shares		Weighted- Average Remaining Contractual Life (Years)		Weighted- Average Exercise Price		Shares		Weighted- Average Exercise Price
$30.01—$35.00		141,571		.1		33.95		141,571		33.95
$35.01—$40.00		1,019,379		3.1		39.49		1,019,379		39.49
$40.01—$45.00		1,242,665		1.7		42.44		1,242,665		42.44
$45.01—$50.00		–		–		–		–		–
$50.01—$55.01		849,475		4.1		54.96		849,475		54.96
		3,253,090		2.7	$	44.42		3,253,090	$	44.42

Summary of Company's Restricted Shares of Stock and Unit Awards

A summary of the status of the Company’s restricted shares of stock and unit awards is presented below:

	2022					2021					2020
Year Ended December 31	Shares			Weighted- Average Grant- Date Fair Value		Shares			Weighted- Average Grant- Date Fair Value		Shares			Weighted- Average Grant- Date Fair Value
Outstanding at beginning of period		6,812,753		$	51.04		6,343,313		$	51.38		6,606,833		$	48.99
Granted		4,109,793			55.62		4,512,995			52.54		3,552,923			53.90
Vested		(3,690,666	)		52.88		(3,793,978	)		53.27		(3,534,770	)		49.28
Cancelled		(351,054	)		54.95		(249,577	)		52.83		(281,673	)		53.51
Outstanding at end of period		6,880,826		$	52.59		6,812,753		$	51.04		6,343,313		$	51.38