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]  
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 10  7  4 
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 2.7  $ 18.53  2.4  $ 14.04  2.5  $ 10.34 
Granted 1.1  31.88  1.0  28.46  0.7  25.12 
Distributed (1.8) 6.50  (1.1) 17.04  (1.3) 11.74 
Performance adjustment 0.7  6.43  0.5  17.84  0.6  11.93 
Forfeited/canceled (0.2) 28.65  (0.1) 23.74  (0.1) 11.27 
Outstanding at end of year 2.5  $ 29.09  2.7  $ 18.53  2.4  $ 14.04 
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 2.4  $ 13.66  2.1  $ 10.31  2.1  $ 7.12 
Granted 1.2  19.30  1.0  19.41  0.7  17.45 
Distributed (0.9) 5.99  (0.6) 10.47  (0.6) 7.31 
Forfeited/canceled (0.2) 19.84  (0.1) 17.82  (0.1) 9.50 
Outstanding at end of year 2.5  $ 18.87  2.4  $ 13.66  2.1  $ 10.31 
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 0.6  $ 10.39  1.0  $ 12.75  2.5  $ 11.60 
Exercised (0.1) 10.22  (0.3) 16.55  (1.5) 10.36 
Forfeited/canceled —  21.05  (0.1) 22.78  —  36.48 
Outstanding at end of year 0.5  $ 9.59  0.6  $ 10.39  1.0  $ 12.75 
Exercisable at end of year 0.5  $ 9.59  0.6  $ 10.52  0.9  $ 13.35