STOCK COMPENSATION PLANS (Tables)
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12 Months Ended |
Dec. 31, 2021 |
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| Share-based Payment Arrangement [Abstract] |
Ìý
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| Summary of Total Compensation Expense Recognized for Stock-Based Compensation Awards |
The following table summarizes the total compensation expense recognized for stock-based compensation awards:
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(InÌýMillions,Ìýexcept per
shareÌýamounts) |
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Year Ended December 31, |
| Ìý |
2021 |
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2020 |
|
2019 |
| Cost of goods sold |
$ |
(2) |
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|
$ |
(2) |
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$ |
(2) |
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| Selling, general and administrative expenses |
(16) |
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(13) |
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(16) |
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| Acquisition-related costs |
—Ìý
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(2) |
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—Ìý |
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| Stock based compensation expense |
(18) |
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(17) |
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(18) |
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| Income tax benefit |
4Ìý
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4Ìý |
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4Ìý |
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| Stock based compensation expense, net of tax |
$ |
(14) |
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$ |
(13) |
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$ |
(14) |
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| Decrease in basic earnings per common share |
$ |
(0.03) |
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$ |
(0.03) |
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$ |
(0.05) |
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| Decrease in diluted earnings per common share |
$ |
(0.03) |
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$ |
(0.03) |
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$ |
(0.05) |
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| Summary of Performance Award Activity |
The following table summarizes the performance award activity:
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Year Ended December 31, |
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2021 |
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2020 |
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2019 |
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Number of Shares |
|
Weighted Average Grant Date Fair Value |
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Number of Shares |
|
Weighted Average Grant Date Fair Value |
|
Number of Shares |
|
Weighted Average Grant Date Fair Value |
| Outstanding at beginning of year |
2,452,226Ìý
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|
$ |
10.34Ìý
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1,935,878Ìý |
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$ |
15.58Ìý |
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1,424,723Ìý |
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$ |
14.46Ìý |
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| Granted |
652,888Ìý
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25.12Ìý
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960,637Ìý |
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6.93Ìý |
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572,104Ìý |
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18.31Ìý |
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| Granted - replacement awards |
—Ìý
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—Ìý
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1,550,216Ìý |
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4.59Ìý |
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—Ìý |
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—Ìý |
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| Distributed |
(1,279,509) |
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11.74Ìý
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(1,938,786) |
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12.23Ìý |
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—Ìý |
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—Ìý |
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| Performance adjustment |
625,355Ìý
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11.93Ìý
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549,154Ìý |
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15.63Ìý |
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—Ìý |
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—Ìý |
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| Forfeited/canceled |
(80,490) |
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11.27Ìý
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(604,873) |
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5.70Ìý |
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(60,949) |
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15.12Ìý |
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| Outstanding at end of year |
2,370,470Ìý
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$ |
14.04Ìý
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2,452,226Ìý |
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$ |
10.34Ìý |
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1,935,878Ìý |
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$ |
15.58Ìý |
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| Summary of Restricted Stock Unit Activity |
The following table summarizes the restricted stock units activity:
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Year Ended December 31, |
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2021 |
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2020 |
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2019 |
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Number of Shares |
|
Weighted Average Grant Date Fair Value |
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Number of Shares |
|
Weighted Average Grant Date Fair Value |
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Number of Shares |
|
Weighted Average Grant Date Fair Value |
| Outstanding at beginning of year |
2,143,583Ìý
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$ |
7.12Ìý
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2,147,183Ìý |
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$ |
9.10Ìý |
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4,694,360Ìý |
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$ |
4.18Ìý |
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| Granted |
678,420Ìý
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17.45Ìý
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960,637Ìý |
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4.87Ìý |
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572,104Ìý |
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11.24Ìý |
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| Granted - replacement awards |
—Ìý
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—Ìý
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200,291Ìý |
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4.87Ìý |
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—Ìý |
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—Ìý |
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| Distributed |
(642,992) |
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7.31Ìý
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(1,101,115) |
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8.58Ìý |
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(3,058,307) |
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1.95Ìý |
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| Forfeited/canceled |
(56,185) |
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9.50Ìý
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(63,413) |
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7.31Ìý |
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(60,974) |
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9.31Ìý |
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| Outstanding at end of year |
2,122,826Ìý
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$ |
10.31Ìý
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2,143,583Ìý |
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$ |
7.12Ìý |
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2,147,183Ìý |
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$ |
9.10Ìý |
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| Summary of Stock Option Activity |
The following table summarizes the stock option activity:
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Year Ended December 31, |
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2021 |
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2020 |
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2019 |
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Number of Shares |
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Weighted Average Exercise Price |
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Number of Shares |
|
Weighted Average Exercise Price |
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Number of Shares |
|
Weighted Average Exercise Price |
| Outstanding at beginning of year |
2,485,808Ìý
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$ |
11.60Ìý
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563,230Ìý |
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$ |
10.42Ìý |
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563,230Ìý |
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$ |
10.42Ìý |
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| Granted - replacement awards |
—Ìý
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—Ìý
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2,010,277Ìý |
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11.86Ìý |
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—Ìý |
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—Ìý |
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| Exercised |
(1,457,495) |
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10.36Ìý
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(79,973) |
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7.01Ìý |
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—Ìý |
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—Ìý |
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| Forfeited/canceled |
(26,253) |
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36.48Ìý
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(7,726) |
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41.04Ìý |
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—Ìý |
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—Ìý |
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| Outstanding at end of year |
1,002,060Ìý
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$ |
12.75Ìý
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2,485,808Ìý |
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$ |
11.60Ìý |
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563,230Ìý |
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$ |
10.42Ìý |
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| Exercisable at end of year |
904,574Ìý
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$ |
13.35Ìý
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2,172,052Ìý |
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$ |
11.86Ìý |
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|
563,230Ìý |
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$ |
10.42Ìý |
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| Summary of Grants of Restricted and/or Deferred Shares to Nonemployee Directors |
For the last three years, grants of restricted and/or deferred shares have been awarded to elected or re-elected nonemployee directors as follows:
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| Year of Grant |
|
Restricted Shares |
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Deferred Shares |
| 2021 |
|
58,851Ìý
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13,078Ìý
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| 2020 |
|
253,809Ìý |
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|
54,794Ìý |
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| 2019 |
|
86,477Ìý |
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23,659Ìý |
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