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Stock Based Compensation Plans
 12 Months Ended
Dec. 31, 2021
Share-based Payment Arrangement, Noncash Expense [Abstract]  
Stock Based Compensation Plans STOCK BASED COMPENSATION PLANS
We have long-term incentive award plans (Incentive Plans) that provide for the granting of incentive stock options, nonqualified stock options, stock appreciation rights, incentive shares/performance units, restricted share units, other share-based awards and dollar-denominated awards to executives and, other than incentive stock options, to non-employee directors. Certain Incentive Plan awards may be paid in stock, cash or a combination of stock and cash. We typically grant a substantial portion of our stock-based compensation awards during the first quarter of each year.

Performance Share Unit Awards and Restricted Share Unit Awards

The fair value of nonvested performance share unit awards and restricted share unit awards is initially determined based on prices not less than the market value of our common stock on the date of grant with a reduction for estimated forfeitures. The value of certain performance share unit awards is subsequently remeasured based on the achievement of one or more performance goals. Additionally, certain performance share unit awards could require subsequent adjustment due to certain discretionary risk review triggers.
The weighted-average grant date fair value of performance share unit awards and restricted share unit awards granted in 2021, 2020 and 2019 was $161.04, $150.23 and $117.53 per share, respectively. The total intrinsic value of performance share unit awards and restricted share unit awards vested during 2021, 2020 and 2019 was approximately $207 million, $213 million and $218 million, respectively. We recognize compensation expense for such awards ratably over the corresponding vesting and/or performance periods for each type of program.
A rollforward of the nonvested performance share unit and restricted share unit awards follows:
Table 107: Nonvested Performance Share Unit Awards and Restricted Share Unit Awards - Rollforward
Shares in thousandsNonvested Performance Share UnitsWeighted-Average Grant Date Fair ValueNonvested Restricted Share UnitsWeighted-Average Grant Date Fair Value
December 31, 2020664 $130.08 3,457 $137.73 
Granted (a)169 $158.76 1,267 $161.34 
Vested/Released (a)(234)$141.82 (1,030)$147.92 
Forfeitures (112)$144.87 
December 31, 2021599 $133.59 3,582 $142.94 
(a)Includes adjustments for achieving specific performance goals for Performance Share Unit Awards granted in prior periods.
In Table 107, the units and related weighted-average grant date fair value of the performance unit share awards exclude the effect of dividends on the underlying shares, as those dividends will be paid in cash if and when the underlying shares are issued to the participants.