Annual report pursuant to Section 13 and 15(d)

Share-Based Compensation (Tables)

v3.22.0.1
Share-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2021
Share-based Payment Arrangement [Abstract]  
Schedule of Share-based Compensation Expense, Net
Total share-based compensation consisted of the following (in millions):
Year Ended December 31,
2021 2020 2019
Share-based compensation costs, pre-tax:
Equity awards $ 105  $ 114  $ 131 
Liability awards (1) 40 
Total share-based compensation 145  116  140 
Capitalized share-based compensation (5) (6) (9)
Total share-based compensation expense $ 140  $ 110  $ 131 
Tax benefit associated with share-based compensation expense $ 33  $ 23  $ 14 
(1)The amount of share-based compensation recognized in 2021 associated with liability awards includes 0.2 million of performance share units held by five employees that are scheduled to vest in 2022 that were reclassified from equity awards to liability awards during 2021 as a result of a modification to settle the awards in cash in lieu of shares. We recognized approximately $18 million in incremental expense as a result of the modification.
Share-based Payment Arrangement, Nonvested Award, Cost
The total unrecognized compensation cost at December 31, 2021 relating to non-vested share-based compensation arrangements consisted of the following:
Unrecognized Compensation Cost
(in millions)
Recognized over a weighted average period
(years)
Restricted Stock Share Awards $ 0.3
Restricted Stock Unit and Performance Stock Unit Awards $ 140  1.5
Nonvested Restricted Stock Shares Activity
The table below provides a summary of our restricted stock outstanding (in millions, except for per share information):
 
Shares
Weighted Average Grant Date Fair Value Per Share
Non-vested at January 1, 2021
0.1  $ 41.78 
Granted 0.0  0.00 
Vested (0.1) 45.10 
Forfeited 0.0  0.00 
Non-vested at December 31, 2021
0.0  $ 0.00 
Schedule of Nonvested Share Activity
The table below provides a summary of our restricted share unit and performance stock unit awards outstanding assuming payout at target for awards containing performance conditions (in millions, except for per unit information):
  Units Weighted Average Grant Date Fair Value Per Unit
Non-vested at January 1, 2021
3.7  $ 60.00 
Granted (1) 2.2  70.99 
Vested (2.1) 59.57 
Forfeited (0.1) 64.31 
Non-vested at December 31, 2021 (2)
3.7  $ 66.71 
(1)This number includes 0.2 million incremental shares of our common stock that were issued based on performance results from previously-granted performance stock unit awards.
(2)This number excludes 1.3 million performance stock units, which represent the incremental number of common units that would be issued if the maximum level of performance under the target awards amount is achieved.
Share-based Compensation, Restricted Stock Units and Performance Shares Award
The table below provides a summary of restricted share unit and performance stock unit awards issued and fair value of units vested:
Year Ended December 31,
2021 2020 2019
Units issued (in millions) 2.2  1.8  1.9 
Weighted average grant date fair value per unit $ 70.99  $ 53.88  $ 67.47 
Fair value of units vested (in millions) $ 123  $ 137  $ 45