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Annual report pursuant to Section 13 and 15(d)

STOCK COMPENSATION PLANS (Tables)

v3.22.4
STOCK COMPENSATION PLANS (Tables)
 12 Months Ended
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract] Ìý
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:
Year Ended December 31,
(In millions, except per share amounts) 2022 2021 2020
Cost of goods sold $ (5) $ (2) $ (2)
Selling, general and administrative expenses (23) (16) (13)
Acquisition-related costs —Ìý —Ìý (2)
Stock based compensation expense (28) (18) (17)
Income tax benefit 7Ìý 4Ìý 4Ìý
Stock based compensation expense, net of tax $ (21) $ (14) $ (13)
Decrease in basic earnings per common share $ (0.04) $ (0.03) $ (0.03)
Decrease in diluted earnings per common share $ (0.04) $ (0.03) $ (0.03)
Summary of Performance Award Activity
The following table summarizes the performance award activity:
2022 2021 2020
(Shares in millions) Number of Shares Weighted Average Grant Date Fair Value Number of Shares Weighted Average Grant Date Fair Value Number of Shares Weighted Average Grant Date Fair Value
Outstanding at beginning of year 2.4Ìý $ 14.04Ìý 2.5Ìý $ 10.34Ìý 1.9Ìý $ 15.58Ìý
Granted 1.0Ìý 28.46Ìý 0.7Ìý 25.12Ìý 1.0Ìý 6.93Ìý
Granted - replacement awards —Ìý —Ìý —Ìý —Ìý 1.6Ìý 4.59Ìý
Distributed (1.1) 17.04Ìý (1.3) 11.74Ìý (1.9) 12.23Ìý
Performance adjustment 0.5Ìý 17.84Ìý 0.6Ìý 11.93Ìý 0.5Ìý 15.63Ìý
Forfeited/canceled (0.1) 23.74Ìý (0.1) 11.27Ìý (0.6) 5.70Ìý
Outstanding at end of year 2.7Ìý $ 18.53Ìý 2.4Ìý $ 14.04Ìý 2.5Ìý $ 10.34Ìý
Summary of Restricted Stock Unit Activity
The following table summarizes the restricted stock units activity:
2022 2021 2020
(Shares in millions) Number of Shares Weighted Average Grant Date Fair Value Number of Shares Weighted Average Grant Date Fair Value Number of Shares Weighted Average Grant Date Fair Value
Outstanding at beginning of year 2.1Ìý $ 10.31Ìý 2.1Ìý $ 7.12Ìý 2.1Ìý $ 9.10Ìý
Granted 1.0Ìý 19.41Ìý 0.7Ìý 17.45Ìý 1.0Ìý 4.87Ìý
Granted - replacement awards —Ìý —Ìý —Ìý —Ìý 0.2Ìý 4.87Ìý
Distributed (0.6) 10.47Ìý (0.6) 7.31Ìý (1.1) 8.58Ìý
Forfeited/canceled (0.1) 17.82Ìý (0.1) 9.50Ìý (0.1) 7.31Ìý
Outstanding at end of year 2.4Ìý $ 13.66Ìý 2.1Ìý $ 10.31Ìý 2.1Ìý $ 7.12Ìý
Summary of Stock Option Activity
The following table summarizes the stock option activity:
2022 2021 2020
(Shares in millions) Number of Shares Weighted Average Exercise Price Number of Shares Weighted Average Exercise Price Number of Shares Weighted Average Exercise Price
Outstanding at beginning of year 1.0Ìý $ 12.75Ìý 2.5Ìý $ 11.60Ìý 0.6Ìý $ 10.42Ìý
Granted - replacement awards —Ìý —Ìý —Ìý —Ìý 2.0Ìý 11.86Ìý
Exercised (0.3) 16.55Ìý (1.5) 10.36Ìý (0.1) 7.01Ìý
Forfeited/canceled (0.1) 22.78Ìý —Ìý 36.48Ìý —Ìý 41.04Ìý
Outstanding at end of year 0.6Ìý $ 10.39Ìý 1.0Ìý $ 12.75Ìý 2.5Ìý $ 11.60Ìý
Exercisable at end of year 0.6Ìý $ 10.52Ìý 0.9Ìý $ 13.35Ìý 2.2Ìý $ 11.86Ìý