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Annual report pursuant to Section 13 and 15(d)

STOCK COMPENSATION PLANS (Tables)

v3.24.0.1
STOCK COMPENSATION PLANS (Tables)
12 Months Ended
Dec. 31, 2023
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) 2023 2022 2021
Cost of goods sold $ (9) $ (5) $ (2)
Selling, general and administrative expenses (32) (23) (16)
Stock based compensation expense (41) (28) (18)
Income tax benefit 10Ìý 7Ìý 4Ìý
Stock based compensation expense, net of tax $ (31) $ (21) $ (14)
Decrease in basic earnings per common share $ (0.06) $ (0.04) $ (0.03)
Decrease in diluted earnings per common share $ (0.06) $ (0.04) $ (0.03)
Summary of Performance Award Activity
The following table summarizes the performance award activity:
2023 2022 2021
(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 2.7Ìý $ 18.53Ìý 2.4Ìý $ 14.04Ìý 2.5Ìý $ 10.34Ìý
Granted 1.1Ìý 31.88Ìý 1.0Ìý 28.46Ìý 0.7Ìý 25.12Ìý
Distributed (1.8) 6.50Ìý (1.1) 17.04Ìý (1.3) 11.74Ìý
Performance adjustment 0.7Ìý 6.43Ìý 0.5Ìý 17.84Ìý 0.6Ìý 11.93Ìý
Forfeited/canceled (0.2) 28.65Ìý (0.1) 23.74Ìý (0.1) 11.27Ìý
Outstanding at end of year 2.5Ìý $ 29.09Ìý 2.7Ìý $ 18.53Ìý 2.4Ìý $ 14.04Ìý
Summary of Restricted Stock Unit Activity
The following table summarizes the restricted stock units activity:
2023 2022 2021
(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 $ 13.66Ìý 2.1Ìý $ 10.31Ìý 2.1Ìý $ 7.12Ìý
Granted 1.2Ìý 19.30Ìý 1.0Ìý 19.41Ìý 0.7Ìý 17.45Ìý
Distributed (0.9) 5.99Ìý (0.6) 10.47Ìý (0.6) 7.31Ìý
Forfeited/canceled (0.2) 19.84Ìý (0.1) 17.82Ìý (0.1) 9.50Ìý
Outstanding at end of year 2.5Ìý $ 18.87Ìý 2.4Ìý $ 13.66Ìý 2.1Ìý $ 10.31Ìý
Summary of Stock Option Activity
The following table summarizes the stock option activity:
2023 2022 2021
(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 0.6Ìý $ 10.39Ìý 1.0Ìý $ 12.75Ìý 2.5Ìý $ 11.60Ìý
Exercised (0.1) 10.22Ìý (0.3) 16.55Ìý (1.5) 10.36Ìý
Forfeited/canceled —Ìý 21.05Ìý (0.1) 22.78Ìý —Ìý 36.48Ìý
Outstanding at end of year 0.5Ìý $ 9.59Ìý 0.6Ìý $ 10.39Ìý 1.0Ìý $ 12.75Ìý
Exercisable at end of year 0.5Ìý $ 9.59Ìý 0.6Ìý $ 10.52Ìý 0.9Ìý $ 13.35Ìý