Pay vs Performance Disclosure | 12 Months Ended |
Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) |
Pay vs Performance Disclosure [Table] | | | |
Pay vs Performance [Table Text Block] | Summary Average Summary Compensation Table total Average Compensation actually paid Value of fixed $100 investment based on: Year Compensation Table total for PEO (1) Compensation actually paid to PEO (2) for non-PEO named executive officers (3) to non-PEO named executive officers (4) Total shareholder return (5) Peer Group total shareholder return (6) Net Income (millions) (7) Adjusted EPS (8) ($) ($) ($) ($) ($) ($) ($) ($) (a) (b) (c) (d) (e) (f) (g) (h) (i) 2022 8,720,419 2,627,030 4,044,487 2,631,032 77.87 134.30 1,091.7 4.49 2021 8,365,888 10,099,689 3,082,720 4,579,856 123.79 151.89 1,129.9 4.69 2020 16,905,180 18,110,719 5,434,441 5,377,090 113.17 119.36 (1,205.1) 4.02 (1) The dollar amounts reported in column (b) are the amounts of total compensation reported for the PEO for each corresponding year in the “Total” column of the Summary Compensation Table at page 60 . (2) The dollar amounts reported in column (c) represent the amount of “compensation actually paid” to the PEO, as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual amount of compensation earned by or paid to the PEO during the applicable year. In accordance with the requirements of Item 402(v) of Regulation S-K, the following adjustments were made to the PEO’s total compensation for each year to determine the compensation actually paid: Year Reported Summary Compensation Table total for PEO Reported Value of Equity Awards (a) Equity Award Adjustments (b) Reported Change in the Actuarial Present Value of Pension Benefits (c) Pension Benefit Adjustments (d) Compensation Actually Paid to PEO ($) ($) ($) ($) ($) ($) 2022 8,720,419 (7,531,081) 1,398,052 0 39,640 2,627,030 2021 8,365,888 (5,750,129) 7,440,403 0 43,527 10,099,689 2020 16,905,180 (10,854,129) 16,619,383 (4,601,533) 41,818 18,110,719 (a) The grant date fair value of equity awards represents the total of the amounts reported in the “Stock Awards” and “Option Awards” columns in the Summary Compensation Table for the applicable year. (b) The equity award adjustments for each applicable year include the addition (or subtraction, as applicable) of the following: (i) the year-end fair value of any equity awards granted in the applicable year that are outstanding and unvested as of the end of the year; (ii) the amount of change as of the end of the applicable year (from the end of the prior fiscal year) in fair value of any awards granted in prior years that are outstanding and unvested as of the end of the applicable year; (iii) for awards that are granted and vest in same applicable year, the fair value as of the vesting date; (iv) for awards granted in prior years that vest in the applicable year, the amount equal to the change as of the vesting date (from the end of the prior fiscal year) in fair value; (v) for awards granted in prior years that are determined to fail to meet the applicable vesting conditions during the applicable year, a deduction for the amount equal to the fair value at the end of the prior fiscal year; and (vi) the dollar value of any dividends or other earnings paid on stock or option awards in the applicable year prior to the vesting date that are not otherwise reflected in the fair value of such award or included in any other component of total compensation for the applicable year. The valuation assumptions used to calculate fair values did not materially differ from those disclosed at the time of grant. The amounts deducted or added in calculating the equity award adjustments are as follows: Year Year End Fair Value of Equity Awards Year over Year Change in Fair Value of Outstanding and Unvested Equity Awards Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year Year over Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Year Value of Dividends or other Earnings Paid on Stock or Option Awards not Otherwise Reflected in Fair Value or Total Compensation Total Equity Award Adjustments ($) ($) ($) ($) ($) ($) ($) 2022 7,843,382 (4,114,803) - (2,330,527) - - 1,398,052 2021 6,429,092 897,867 - 113,444 - - 7,440,403 2020 10,538,992 2,677,081 - 3,403,310 - - 16,619,383 (c) The amounts included in this column are the amounts reported in “Change in Pension and Nonqualified Deferred Compensation” column of the Summary Compensation Table for each applicable year. (d) The total pension benefit adjustments for each applicable year include the aggregate of two components: (i) the actuarially determined service cost for services rendered by the PEO during the applicable year (the “service cost”); and (ii) the entire cost of benefits granted in a plan amendment (or initiation) during the applicable year that are attributed by the benefit formula to services rendered in periods prior to the plan amendment or initiation (the “prior service cost”), in each case, calculated in accordance with U.S. GAAP. The amounts deducted or added in calculating the pension benefit adjustments are as follows: Year Service Cost Prior Service Cost Total Pension Benefit Adjustments ($) ($) ($) 2022 39,640 - 39,640 2021 43,527 - 43,527 2020 41,818 - 41,818 (3) The dollar amounts reported in column (d) represent the average of the amounts reported for the Company’s non-PEO named executive officers as a group in the “Total” column of the Summary Compensation Table in each applicable year. (4) The dollar amounts reported in column (e) represent the average amount of “compensation actually paid” to the non-PEO named executive officers as a group, as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual average amount of compensation earned by or paid to the non-PEO named executive officers as a group during the applicable year. In accordance with the requirements of Item 402(v) of Regulation S-K, the following adjustments were made to average total compensation for the non-PEO named executive officers as a group for each year to determine the compensation actually paid, using the same methodology described above in Note 2: Year Average Reported Summary Compensation Table total for Non-PEO NEOs Average Reported Value of Equity Awards Average Equity Award Adjustments Average Reported Change in the Actuarial Present Value of Pension Benefits Average Pension Benefit Adjustments Average Compensation Actually Paid to Non-PEO NEOs ($) ($) ($) ($) ($) ($) 2022 4,044,487 (2,919,197) 1,494,256 (5,384) 16,870 2,631,032 2021 3,082,720 (1,594,538) 3,073,423 0 18,251 4,579,856 2020 5,434,441 (3,078,907) 3,700,875 (821,580) 142,261 5,377,090 (a) The amounts deducted or added in calculating the equity award adjustments are as follows: Year Average Year End Fair Value of Equity Awards Year over Year Average Change in Fair Value of Outstanding and Unvested Equity Awards Average Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year Year over Year Average Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year Average Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Year Average Value of Dividends or other Earnings Paid on Stock or Option Awards not Otherwise Reflected in Fair Value or Total Compensation Total Average Equity Award Adjustments ($) ($) ($) ($) ($) ($) ($) 2022 2,931,884 (721,836) - (715,792) - - 1,494,256 2021 1,788,525 976,574 - 308,324 - - 3,073,423 2020 3,084,855 296,176 - 319,844 - - 3,700,875 (b) The amounts deducted or added in calculating the pension benefit adjustments are as follows: Year Average Service Cost Average Prior Service Cost Total Average Pension Benefit Adjustments ($) ($) ($) 2022 16,870 - 16,870 2021 18,251 - 18,251 2020 142,261 - 142,261 (5) Cumulative TSR is calculated by dividing the sum of the cumulative amount of dividends for the measurement period, assuming dividend reinvestment, and the difference between the Company’s share price at the end and the beginning of the measurement period by the Company’s share price at the beginning of the measurement period. (6) Represents the weighted peer group TSR, weighted according to the respective companies’ stock market capitalization at the beginning of each period for which a return is indicated. The peer group used for this purpose is the group of 21 comparison companies for compensation benchmarking set forth under the heading “Compensation Benchmarking” found under the Compensation Discussion and Analysis of this Proxy Statement at page 49 . (7) The dollar amounts reported represent the amount of net income reflected in the Company’s audited financial statements for the applicable year. The amount of net income for 2020 reflects a loss from discontinued operations, net of tax, of $2,172.5 million. (8) Our non-GAAP adjusted financial measure for diluted earnings per share excludes the impact of special (gains) and charges and the impact of discrete tax items. We include items within special (gains) and charges and discrete tax items that we believe can significantly affect the period-over-period assessment of operating results and not necessarily reflect costs associated with historical trends and future results. After tax special (gains) and charges are derived by applying the applicable local jurisdictional tax rate to the corresponding pre-tax special (gains) and charges. | | |
Company Selected Measure Name | Adjusted EPS | | |
Named Executive Officers, Footnote [Text Block] | For purposes of the tables below, the principal executive officer Year PEO Non-PEO named executive officers 2022 Christophe Beck Scott D. Kirkland, Lanesha T. Minnix, Laurie M. Marsh, Darrell R. Brown 2021 Christophe Beck Daniel J. Schmechel, Angela M. Busch, Timothy P. Mulhere and Douglas M. Baker, Jr. 2020 Douglas M. Baker, Jr. Daniel J. Schmechel, Christophe Beck, Machiel Duijser and Elizabeth A. Simermeyer | | |
Peer Group Issuers, Footnote [Text Block] | (6) Represents the weighted peer group TSR, weighted according to the respective companies’ stock market capitalization at the beginning of each period for which a return is indicated. The peer group used for this purpose is the group of 21 comparison companies for compensation benchmarking set forth under the heading “Compensation Benchmarking” found under the Compensation Discussion and Analysis of this Proxy Statement at page 49 . | | |
PEO Total Compensation Amount | $ 8,720,419 | $ 8,365,888 | $ 16,905,180 |
PEO Actually Paid Compensation Amount | $ 2,627,030 | 10,099,689 | 18,110,719 |
Adjustment To PEO Compensation, Footnote [Text Block] | (2) The dollar amounts reported in column (c) represent the amount of “compensation actually paid” to the PEO, as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual amount of compensation earned by or paid to the PEO during the applicable year. In accordance with the requirements of Item 402(v) of Regulation S-K, the following adjustments were made to the PEO’s total compensation for each year to determine the compensation actually paid: | | |
Non-PEO NEO Average Total Compensation Amount | $ 4,044,487 | 3,082,720 | 5,434,441 |
Non-PEO NEO Average Compensation Actually Paid Amount | $ 2,631,032 | 4,579,856 | 5,377,090 |
Adjustment to Non-PEO NEO Compensation Footnote [Text Block] | (4) The dollar amounts reported in column (e) represent the average amount of “compensation actually paid” to the non-PEO named executive officers as a group, as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual average amount of compensation earned by or paid to the non-PEO named executive officers as a group during the applicable year. In accordance with the requirements of Item 402(v) of Regulation S-K, the following adjustments were made to average total compensation for the non-PEO named executive officers as a group for each year to determine the compensation actually paid, using the same methodology described above in Note 2: | | |
Compensation Actually Paid vs. Total Shareholder Return [Text Block] | COMPENSATION ACTUALLY PAID AND CUMULATIVE TSR | | |
Compensation Actually Paid vs. Net Income [Text Block] | COMPENSATION ACTUALLY PAID AND NET INCOME | | |
Compensation Actually Paid vs. Company Selected Measure [Text Block] | COMPENSATION ACTUALLY PAID AND ADJUSTED EPS | | |
Total Shareholder Return Vs Peer Group [Text Block] | CUMULATIVE TSR OF THE COMPANY AND CUMULATIVE TSR OF THE PEER GROUP | | |
Tabular List [Table Text Block] | Financial Performance Measures As described in greater detail in “Compensation Discussion and Analysis,” the Company’s compensation programs are designed to enable us to attract and retain the leadership talent that is necessary to successfully manage our strong earnings growth and return on invested capital objectives, while balancing necessary investment in the businesses in order to achieve attractive, long-term shareholder returns. As required by Item 402(v) of Regulation S-K, the following is a list of performance measures, which in our assessment represents the most important performance measures used by the Company to link compensation actually paid to the Company’s NEOs for 2022: ● Adjusted diluted earnings per share ● Adjusted return on invested capital ● Adjusted operating income (total division and business unit) ● Revenue (business unit) | | |
Total Shareholder Return Amount | $ 77.87 | 123.79 | 113.17 |
Peer Group Total Shareholder Return Amount | 134.30 | 151.89 | 119.36 |
Net Income (Loss) | $ 1,091,700,000 | $ 1,129,900,000 | $ (1,205,100,000) |
Company Selected Measure Amount | 4.49 | 4.69 | 4.02 |
PEO Name | Christophe Beck | | |
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | | | $ 2,172,500,000 |
Measure [Axis]: 1 | | | |
Pay vs Performance Disclosure [Table] | | | |
Measure Name | Adjusted diluted earnings per share | | |
Non-GAAP Measure Description [Text Block] | (8) Our non-GAAP adjusted financial measure for diluted earnings per share excludes the impact of special (gains) and charges and the impact of discrete tax items. We include items within special (gains) and charges and discrete tax items that we believe can significantly affect the period-over-period assessment of operating results and not necessarily reflect costs associated with historical trends and future results. After tax special (gains) and charges are derived by applying the applicable local jurisdictional tax rate to the corresponding pre-tax special (gains) and charges. | | |
Measure [Axis]: 2 | | | |
Pay vs Performance Disclosure [Table] | | | |
Measure Name | Adjusted return on invested capital | | |
Measure [Axis]: 3 | | | |
Pay vs Performance Disclosure [Table] | | | |
Measure Name | Adjusted operating income (total division and business unit) | | |
Measure [Axis]: 4 | | | |
Pay vs Performance Disclosure [Table] | | | |
Measure Name | Revenue (business unit) | | |
PEO [Member] | Reported Value of Equity Awards | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | $ (7,531,081) | $ (5,750,129) | (10,854,129) |
PEO [Member] | Equity Award Adjustments | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | 1,398,052 | 7,440,403 | 16,619,383 |
PEO [Member] | Reported Change in the Actuarial Present Value of Pension Benefits | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | 0 | 0 | (4,601,533) |
PEO [Member] | Pension Benefit Adjustments | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | 39,640 | 43,527 | 41,818 |
PEO [Member] | Year End Fair Value of Equity Awards | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | 7,843,382 | 6,429,092 | 10,538,992 |
PEO [Member] | Year over Year Change in Fair Value of Outstanding and Unvested Equity Awards | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | (4,114,803) | 897,867 | 2,677,081 |
PEO [Member] | Year over Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | (2,330,527) | 113,444 | 3,403,310 |
PEO [Member] | Service Cost | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | 39,640 | 43,527 | 41,818 |
Non-PEO NEO [Member] | Reported Value of Equity Awards | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | (2,919,197) | (1,594,538) | (3,078,907) |
Non-PEO NEO [Member] | Equity Award Adjustments | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | 1,494,256 | 3,073,423 | 3,700,875 |
Non-PEO NEO [Member] | Reported Change in the Actuarial Present Value of Pension Benefits | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | (5,384) | 0 | (821,580) |
Non-PEO NEO [Member] | Pension Benefit Adjustments | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | 16,870 | 18,251 | 142,261 |
Non-PEO NEO [Member] | Year End Fair Value of Equity Awards | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | 2,931,884 | 1,788,525 | 3,084,855 |
Non-PEO NEO [Member] | Year over Year Change in Fair Value of Outstanding and Unvested Equity Awards | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | (721,836) | 976,574 | 296,176 |
Non-PEO NEO [Member] | Year over Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | (715,792) | 308,324 | 319,844 |
Non-PEO NEO [Member] | Service Cost | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | $ 16,870 | $ 18,251 | $ 142,261 |