XML 62 R43.htm IDEA: XBRL DOCUMENT v3.24.0.1
Share-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of Compensation Expense and Related Income Tax Benefit
The compensation expense from the Company’s share-based compensation plans and associated income tax benefit, excluding the effects of excess tax benefits or shortfalls, were included in the Consolidated Statements of Operations as follows (in millions):
 Year Ended December 31,
Compensation costs and related income tax benefit202320222021
Cost of sales$$$
Selling and marketing16 22 26 
Research and development25 34 28 
General and administration19 34 31 
Total compensation expense$66 $96 $93 
Income tax benefit$13 $17 $14 
Schedule of Equity Awards Activity
A summary of the Company’s restricted and performance stock-settled awards for the years ended December 31, 2023, 2022 and 2021 is as follows:

Year Ended December 31, 2023
RSUsPSUsRSAsPSAs
UnitsWeighted-Average Grant Date Fair ValueUnitsWeighted-Average Grant Date Fair ValueSharesWeighted-Average Grant Date Fair ValueSharesWeighted-Average Grant Date Fair Value
Outstanding at beginning of year242,732 $404.19 105,928 $406.89 46,971 $271.92 35,246 $245.79 
Granted336,168 260.31 104,620 258.57 6,640 271.77 — — 
Released(95,837)412.47 (64)482.42 (51,695)267.66 (35,171)245.82 
Forfeited (1)
(45,684)332.66 (14,552)313.74 (1,483)335.98 (75)244.97 
Outstanding at end of year437,379 $299.19 195,932 $334.59 433 $477.74 — $— 
(1) The increase in forfeitures for RSUs and PSUs as compared to previous years was primarily due to the Company’s 2022 Productivity Plan and VRP.
Year Ended December 31, 2022
RSUsPSUsRSAsPSAs
UnitsWeighted-Average Grant Date Fair ValueUnitsWeighted-Average Grant Date Fair ValueSharesWeighted-Average Grant Date Fair ValueSharesWeighted-Average Grant Date Fair Value
Outstanding at beginning of year130,009 $518.80 37,691 $482.42 154,322 $253.54 74,032 $225.34 
Granted181,351 359.02 70,777 367.16 6,122 321.03 — — 
Released(48,095)518.64 (226)482.42 (104,891)248.36 (38,671)206.62 
Forfeited(20,533)463.11 (2,314)410.80 (8,582)259.93 (115)244.62 
Outstanding at end of year242,732 $404.19 105,928 $406.89 46,971 $271.92 35,246 $245.79 
Year Ended December 31, 2021
RSUsPSUsRSAsPSAs
UnitsWeighted-Average Grant Date Fair ValueUnitsWeighted-Average Grant Date Fair ValueSharesWeighted-Average Grant Date Fair ValueSharesWeighted-Average Grant Date Fair Value
Outstanding at beginning of year— $— — $— 318,565 $228.08 126,022 $199.77 
Granted134,419 518.39 38,393 482.42 6,005 486.02 — — 
Released(674)489.16 — — (159,702)212.33 (49,236)160.11 
Forfeited(3,736)509.58 (702)482.42 (10,546)239.78 (2,754)236.18 
Outstanding at end of year130,009 $518.80 37,691 $482.42 154,322 $253.54 74,032 $225.34 
Schedule of SARs Activity
A summary of the Company’s SARs is as follows:
202320222021
SARsWeighted-Average Grant Date Exercise PriceSARsWeighted-Average Grant Date Exercise PriceSARsWeighted-Average Grant Date Exercise Price
Outstanding at beginning of year443,476 $122.67 474,151 $121.05 638,124 $113.98 
Granted— — — — — — 
Exercised(42,957)99.39 (28,659)88.35 (159,035)89.87 
Forfeited(976)244.15 (1,987)229.46 (4,938)213.80 
Expired(705)78.54 (29)205.12 — — 
Outstanding at end of year398,838 $124.96 443,476 $122.67 474,151 $121.05 
Exercisable at end of year385,305 $120.35 400,351 $110.14 383,273 $97.29 
Schedule of Information for SARs Outstanding
The following table summarizes information about SARs outstanding as of December 31, 2023:
OutstandingExercisable
Aggregate intrinsic value (in millions)$60$59
Weighted-average remaining contractual life (in years)1.71.7