Share-Based Incentive Compensation

6 Months Ended

Jun. 30, 2023

Share-Based Payment Arrangement [Abstract]

SHARE-BASED INCENTIVE COMPENSATION

The following information relates to fully vested stock option awards at June 30, 2023:


Stock Options	Number	Weighted Average Exercise Price		Weighted Average Contractual Life Remaining	Aggregate Intrinsic Value ($ in millions)
Vested at end of period (1)	7,436,347	$	137.77	6.0 years	$	275
Exercisable at end of period	5,358,727	$	128.19	5.0 years	$	244

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(1)Represents awards for which the requisite service has been rendered, including those that are retirement eligible.

The total compensation cost for all share-based incentive compensation awards recognized in earnings was $47 million and $41 million for the three months ended June 30, 2023 and 2022, respectively, and $116 million and $100 million for the six months ended June 30, 2023 and 2022, respectively. The related tax benefits recognized in the consolidated statement of income (loss) were $8 million and $7 million for the three months ended June 30, 2023 and 2022, respectively, and $19 million and $17 million for the six months ended June 30, 2023 and 2022, respectively.

The total unrecognized compensation cost related to all nonvested share-based incentive compensation awards at June 30, 2023 was $281 million, which is expected to be recognized over a weighted-average period of 2.0 years.