Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Schedule of Weighted Average Assumptions Used

During the years ended December 31, 2022 and 2021, we did not issue any stock unit awards containing a market condition.

Expected volatility of stock price	91%
Risk-free interest rate	0.18%
Valuation period	3 years
Dividend yield	—%

Schedule of Stock Based Compensation Activity

Annual activity related to stock units consisted of (in thousands of shares):    

			Number of Shares	Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Term (years)	Aggregate Intrinsic Value (in millions)
Time-based RSUs
	Outstanding at January 1, 2022		671	$	39.39
		Granted (a)	180	172.34
		Vested (b)	(360)	37.35
		Forfeited	(40)	61.80
	Outstanding and expected to vest at December 31, 2022 (c)		451	$	92.06	1.1	$	74
Performance-based and market-based RSUs
	Outstanding at January 1, 2022		886	$	35.40
		Granted (a)	99	193.48
		Vested (b)	(254)	34.24
		Forfeited	(40)	49.75
	Outstanding at December 31, 2022		691	$	57.56	0.9	$	113
	Outstanding and expected to vest at December 31, 2022 (c)		683	$	55.99	0.9	$	112

__________

(a)Reflects the maximum number of stock units assuming achievement of all performance-, market- and time-vesting criteria and does not include those for non-employee directors, which are discussed separately below. The weighted-average fair value of time-based RSUs, and performance-based and market-based RSUs granted in 2021 was $65.23 and $62.27, respectively, and the weighted-average fair value of time-based RSUs and performance-based RSUs granted in 2020 was $23.14 and $21.06, respectively.

(b)The total fair value of RSUs vested during 2022, 2021 and 2020 was $22 million, $17 million and $19 million, respectively.

(c)Aggregate unrecognized compensation expense related to time-based RSUs and performance-based and market-based RSUs amounted to $49 million and will be recognized over a weighted average vesting period of 1.0 year.