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Stock-Based Compensation Plans (Tables)
12 Months Ended
Dec. 31, 2021
Share-based Payment Arrangement [Abstract]  
Total Stock-Based Compensation Awards Granted
The following table summarizes the total stock-based compensation awards granted during the years 2021, 2020 and 2019:
Stock OptionsRestricted Stock UnitsTSR Performance AwardsROCE Performance Awards (a)Performance-Based Restricted Stock Units
2021171,000 1,891,481 306,930 485,900 676,954 
2020— 2,640,690 671,390 — — 
2019— 1,005,500 210,520 527,470 — 
Total Compensation Expense Recognized for Stock-Based Compensation Awards
The following table summarizes the total compensation expense recognized for stock-based compensation awards:
(In millions, except per share amounts)Year Ended December 31, 2021Year Ended December 31, 2020Year Ended December 31, 2019
Stock-based compensation expense recognized:
Cost of sales$14 $$
Selling, general and administrative expenses41 18 17 
Decrease in net income55 26 26 
Decrease in basic earnings per share0.21 0.13 0.15 
Decrease in diluted earnings per share0.20 0.13 0.15 
Performance-Based Stock Options Vesting and Exercising Conditions
The 171,000 performance-based stock options granted in December 2021 do not become vested and exercisable until the Company's 20-trading day average closing stock price meets or exceeds the following stock price hurdles during the seven-year period beginning on the grant date, as follows:

20-trading day Average Closing Stock Price Achievement During 7-Year Period Beginning on Grant Date
Percentage of Performance-Based Stock Options Exercisable
$35.00 33.33 %
$45.00 33.33 %
$55.00 33.34 %
Status and Activity of Stock Options
The following table shows a summary of the status and activity of stock options for the year ended December 31, 2021:
SharesWeighted-
Average
Exercise Price
(per share)
Weighted-
Average
Remaining
Contractual Term
(in years)
Aggregate
Intrinsic
Value
(in millions)
Outstanding at January 1, 20212,046,236 $25.98 
Granted171,000 $23.47 
Exercised(378,522)$17.56 
Forfeited or expired(178,950)$47.53 
Outstanding at December 31, 20211,659,764 $25.31 3.51$
Exercisable at December 31, 20211,488,764 $25.53 3.11$
Exercisable and expected to vest at December 31, 20211,659,764 $25.31 3.11$
Performance Awards Outstanding and their Fair Market Value on Respective Grant Date
The following table shows a summary of the performance awards outstanding as of December 31, 2021, and their fair market value on the respective grant date:
Performance PeriodFair Value
(in millions)
Minimum
Shares
Target
Shares
Maximum
Shares
2021 - 2023$30  1,458,144 2,916,288 
2020 - 2022$— 641,005 1,282,010 
2019 - 2021$16 — 615,477 1,230,954 
Status and Activity of Nonvested Stock Awards
The following table shows a summary of the status and activity of nonvested stock awards for the year ended December 31, 2021:
Restricted
Stock Units
TSR Performance
Awards
(a)
ROCE Performance
Awards
(a)
Performance-Based Restricted Stock Units (a)
TotalWeighted-
Average
Grant-Date
Fair Value
Nonvested at January 1, 20213,515,725 918,564 666,736 — 5,101,025 $16.85 
Granted1,891,481 306,930 485,900 676,954 3,361,265 20.24 
Vested(1,517,986)— — — (1,517,986)19.01 
Performance adjustment factor (b)
— (69,483)(211,230)— (280,713)47.83 
Forfeited or expired(189,531)(34,308)(25,437)— (249,276)14.43 
Nonvested at December 31, 20213,699,689 1,121,703 915,969 676,954 6,414,315 $16.85 
(a)The number of shares shown for the performance awards is based on the target number of share awards.
(b)Consists of adjustments to vested performance awards to reflect actual performance. The adjustments were required since the original grants of the awards were at 100 percent of the targeted amounts and the awards vested at less than target.
Restricted Stock Units and Performance Awards Granted
The following table presents information on RSUs and performance awards granted:
202120202019
Number of awards granted3,361,265 3,312,080 1,743,490 
Weighted-average grant-date fair value per share$20.24 $8.69 $24.46