Meritor Acquisition and 2022 Financial Results
Table of Contents
The table below summarizes the employee share-based activity in the Plan:
Weighted-average
Weighted-average
Remaining
Contractual Life
(in years)
Aggregate
Intrinsic Value
(in millions)
Options
Exercise Price
Balance at December 31, 2019
3,237,570 $
140.36
Granted
632,080
142.81
Exercised
(660,786)
131.25
Forfeited
(33,334)
150.83
Balance at December 31, 2020
3,175,530
142.63
Granted
16,550
232.44
Exercised
(400,154)
138.93
Forfeited
(48,828)
153.72
Balance at December 31, 2021
2,743,098
143.51
Granted
18,900
207.79
(586,990)
137.83
(29,045)
148.08
2,145,963 $
145.57
5.2 $
208
Exercised
Forfeited
Balance at December 31, 2022
Exercisable, December 31, 2020
Exercisable, December 31, 2021
Exercisable, December 31, 2022
1,589,015 $
130.28
1,629,588 $
1,655,298 $
136.74
146.37
4.6 $
151
4.4 $
133
4.6 $
159
The weighted-average grant date fair value of options granted during the years ended December 31, 2022, 2021 and 2020, was $5.74, $46.03 and $25.40, respectively. The
total intrinsic value of options exercised during the years ended December 31, 2022, 2021 and 2020, was approximately $53 million, $41 million and $40 million, respectively.
The weighted-average grant date fair value of performance and restricted shares was as follows:
Performance Shares
Restricted Shares
Nonvested
Shares
Weighted-average
Fair Value
Shares
Weighted-average
Fair Value
Balance at December 31, 2019
395,931 $
144.64
Granted
260,480
132.57
2,697 $
3,704
117.68
165.04
Vested
(268,773)
138.27
(2,697)
117.68
Forfeited
(10,684)
144.22
Balance at December 31, 2020
376,954
140.85
3,704
165.04
Granted
217,684
234.22
26,224
265.41
Vested
(131,744)
146.55
Forfeited
(22,745)
171.91
Balance at December 31, 2021
440,149
183.72
29,928
252.99
Granted
230,535
184.92
215,260
209.08
Vested
(122,188)
148.99
(5,513)
249.79
Forfeited
Balance at December 31, 2022
(63,197)
182.68
(3,262)
211.37
485,299
193.17
236,413 $
213.66
The total vesting date fair value of performance shares vested during the years ended December 31, 2022, 2021 and 2020, was $4 million, $35 million and $41 million,
respectively. The total fair value of restricted shares vested was $1 million, $0 and less than $1 million for the years ended December 31, 2022, 2021 and 2020, respectively.
116View entire presentation