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<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.935%"><tr><td style="width:1.0%"/><td style="width:3.425%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.967%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.724%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.967%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.724%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:2.573%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.967%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.724%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.967%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.016%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:2.573%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.529%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.221%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.383%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.659%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.967%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.929%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.967%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.818%"/><td style="width:0.1%"/></tr><tr style="height:30pt"><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Year</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Summary Compensation Table Total for CEO (1)</span></td><td colspan="3" rowspan="2" style="padding:0 1pt"/><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Compensation Actually Paid to CEO (3)</span></td><td colspan="3" rowspan="2" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Average Summary Compensation Table Total for Non-CEO NEOs (2)</span></td><td colspan="3" rowspan="2" style="padding:0 1pt"/><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Average Compensation Actually Paid to Non-CEO NEOs (3)</span></td><td colspan="3" rowspan="2" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Value of Initial Fixed $100 Investment Based on:</span></td><td colspan="3" rowspan="2" style="padding:0 1pt"/><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Net Income (millions)</span></td><td colspan="3" rowspan="2" style="padding:0 1pt"/><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Operating Profit (millions)</span></td></tr><tr style="height:42pt"><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total TSR (10)</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">S&P IT Index Total TSR (10)</span></td></tr><tr><td colspan="3" style="background-color:#dbdbdb;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2022</span></td><td colspan="3" style="background-color:#dbdbdb;border-top:1pt solid #000;padding:0 1pt"/><td style="background-color:#dbdbdb;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#dbdbdb;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">21,629,586 </span></td><td style="background-color:#dbdbdb;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="3" style="background-color:#dbdbdb;border-top:1pt solid #000;padding:0 1pt"/><td style="background-color:#dbdbdb;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#dbdbdb;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">11,834,806 </span></td><td style="background-color:#dbdbdb;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="3" style="background-color:#dbdbdb;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(4)</span></td><td colspan="3" style="background-color:#dbdbdb;border-top:1pt solid #000;padding:0 1pt"/><td style="background-color:#dbdbdb;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#dbdbdb;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">7,959,226 </span></td><td style="background-color:#dbdbdb;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="3" style="background-color:#dbdbdb;border-top:1pt solid #000;padding:0 1pt"/><td style="background-color:#dbdbdb;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#dbdbdb;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">5,118,822 </span></td><td style="background-color:#dbdbdb;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="3" style="background-color:#dbdbdb;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(7)</span></td><td colspan="3" style="background-color:#dbdbdb;border-top:1pt solid #000;padding:0 1pt"/><td style="background-color:#dbdbdb;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#dbdbdb;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">139.51 </span></td><td style="background-color:#dbdbdb;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="3" style="background-color:#dbdbdb;border-top:1pt solid #000;padding:0 1pt"/><td style="background-color:#dbdbdb;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#dbdbdb;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">139.00 </span></td><td style="background-color:#dbdbdb;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="3" style="background-color:#dbdbdb;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#dbdbdb;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">$ 8,749</span></div></td><td colspan="3" style="background-color:#dbdbdb;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#dbdbdb;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">$ 10,140</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2021</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">19,195,411 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">37,422,531 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(5)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6,903,311 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">11,327,790 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(8)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">154.85 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">193.58 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">$ 7,769</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">$ 8,960</span></div></td></tr><tr><td colspan="3" style="background-color:#dbdbdb;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2020</span></td><td colspan="3" style="background-color:#dbdbdb;padding:0 1pt"/><td style="background-color:#dbdbdb;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#dbdbdb;padding:2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">19,056,652 </span></td><td style="background-color:#dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="3" style="background-color:#dbdbdb;padding:0 1pt"/><td style="background-color:#dbdbdb;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#dbdbdb;padding:2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">43,654,015 </span></td><td style="background-color:#dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="3" style="background-color:#dbdbdb;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(6)</span></td><td colspan="3" style="background-color:#dbdbdb;padding:0 1pt"/><td style="background-color:#dbdbdb;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#dbdbdb;padding:2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">5,827,815 </span></td><td style="background-color:#dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="3" style="background-color:#dbdbdb;padding:0 1pt"/><td style="background-color:#dbdbdb;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#dbdbdb;padding:2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">11,832,752 </span></td><td style="background-color:#dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="3" style="background-color:#dbdbdb;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(9)</span></td><td colspan="3" style="background-color:#dbdbdb;padding:0 1pt"/><td style="background-color:#dbdbdb;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#dbdbdb;padding:2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">131.74 </span></td><td style="background-color:#dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="3" style="background-color:#dbdbdb;padding:0 1pt"/><td style="background-color:#dbdbdb;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#dbdbdb;padding:2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">143.89 </span></td><td style="background-color:#dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="3" style="background-color:#dbdbdb;padding:0 1pt"/><td colspan="3" style="background-color:#dbdbdb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">$ 5,595</span></div></td><td colspan="3" style="background-color:#dbdbdb;padding:0 1pt"/><td colspan="3" style="background-color:#dbdbdb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">$ 5,894</span></div></td></tr></table>
21629586
11834806
7959226
5118822
139.51
139.00
8749000000
10140000000
19195411
37422531
6903311
11327790
154.85
193.58
7769000000
8960000000
19056652
43654015
5827815
11832752
131.74
143.89
5595000000
5894000000
(1)Mr. Templeton
Mr. Templeton, in his capacity as chairman, president and CEO, is the company’s principal executive officer for the applicable period (2020-2022). Compensation for our CEO reflects the amounts reported in the summary compensation table for the respective years.The remaining non-CEO named executive officers for the applicable period are Rafael R. Lizardi (2020-2022), Haviv Ilan (2020-2022), Hagop H. Kozanian (2020-2022), Kyle M. Flessner (2020-2022) and Niels Anderskouv (2020). Compensation for our non-CEO named executive officers reflects the amounts reported in the summary compensation table for the respective years.
Reflects the value of equity calculated in accordance with the SEC methodology for determining compensation actually paid for each year shown. We estimate the fair values for non-qualified stock options using the Black-Scholes-Merton option-pricing model. The assumptions used for purposes of calculating fair values of options as of the vest date or fiscal year-end date are the same as the assumptions used for purposes of calculating the grant date fair value of options, except that we determine expected lives of options based on the “simplified method” using an average of the remaining vest and remaining term, as of the vest date or fiscal year-end date, and the risk-free interest rate is based on the Treasury Constant Maturity rate closest to the remaining expected life, as of the vest date or fiscal year-end date.
Adjustments to total compensation for 2022 as reported in the summary compensation table consist of: (a) $15,000,082 deduction for amounts reported under the “Stock Awards” and “Option Awards” columns in the summary compensation table; (b) $14,326,403 increase based on the fair value of equity awards granted in 2022 that remained outstanding and unvested as of December 31, 2022; (c) $7,521,569 deduction for equity awards granted in prior fiscal years that remained outstanding and unvested as of December 31, 2022, determined based on the change in fair value of such awards from December 31, 2021, to December 31, 2022; (d) $3,093,391 deduction for awards granted in prior fiscal years that vested in 2022, determined based on the change in fair value of such awards from December 31, 2021, to the vest date; and (e) $1,493,859 increase based on dividend equivalents paid on unvested RSUs in 2022.Adjustments to total compensation for 2021 as reported in the summary compensation table consist of: (a) $13,000,129 deduction for amounts reported under the “Stock Awards” and “Option Awards” columns in the summary compensation table; (b) $14,927,094 increase based on the fair value of equity awards granted in 2021 that remained outstanding and unvested as of December 31, 2021; (c) $12,003,020 increase for equity awards granted in prior fiscal years that remained outstanding and unvested as of December 31, 2021, determined based on the change in fair value of such awards from December 31, 2020, to December 31, 2021; (d) $2,929,146 increase for awards granted in prior fiscal years that vested in 2021, determined based on the change in fair value of such awards from December 31, 2020, to the vest date; and (e) $1,367,989 increase based on dividend equivalents paid on unvested RSUs in 2021.Adjustments to total compensation for 2020 as reported in the summary compensation table consist of: (a) $13,000,042 deduction for amounts reported under the “Stock Awards” and “Option Awards” columns in the summary compensation table; (b) $19,703,975 increase based on the fair value of equity awards granted in 2020 that remained outstanding and unvested as of December 31, 2020; (c) $17,619,680 increase for equity awards granted in prior fiscal years that remained outstanding and unvested as of December 31, 2020, determined based on the change in fair value of such awards from December 31, 2019, to December 31, 2020; (d) $850,841 deduction for awards granted in prior fiscal years that vested in 2020, determined based on the change in fair value of such awards from December 31, 2019, to the vest date; (e) $1,324,022 increase based on dividend equivalents paid on unvested RSUs in 2020; and (f) $199,431 deduction for the change in actuarial present values reported under the “Change in Pension Value and Nonqualifed Deferred Compensation Earnings” column in the summary compensation table.
-15000082
14326403
-7521569
-3093391
1493859
-13000129
14927094
12003020
2929146
1367989
-13000042
19703975
17619680
-850841
1324022
-199431
Adjustments to the non-CEO named executive officers’ average total compensation for 2022 as reported in the summary compensation table consist of: (a) $5,350,141 deduction for the average amount reported under the “Stock Awards” and “Option Awards” columns in the summary compensation table; (b) $5,109,857 increase based on the average fair value of equity awards granted in 2022 that remained outstanding and unvested as of December 31, 2022; (c) $2,095,368 deduction for equity awards granted in prior fiscal years that remained outstanding and unvested as of December 31, 2022, determined based on the average change in fair value of such awards from December 31, 2021, to December 31, 2022; (d) $776,587 deduction for awards granted in prior fiscal years that vested in 2022, determined based on the average change in fair value of such awards from December 31, 2021, to the vest date; and (e) $271,835 increase based on the average amount of dividend equivalents paid on unvested RSUs in 2022.Adjustments to the non-CEO named executive officers’ average total compensation for 2021 as reported in the summary compensation table consist of: (a) $4,425,121 deduction for the average amount reported under the “Stock Awards” and “Option Awards” columns in the summary compensation table; (b) $5,081,041 increase based on the average fair value of equity awards granted in 2021 that remained outstanding and unvested as of December 31, 2021; (c) $2,923,509 increase for equity awards granted in prior fiscal years that remained outstanding and unvested as of December 31, 2021, determined based on the average change in fair value of such awards from December 31, 2020, to December 31, 2021; (d) $615,711 increase for awards granted in prior fiscal years that vested in 2021, determined based on the average change in fair value of such awards from December 31, 2020, to the vest date; and (e) $229,339 increase based on the average amount of dividend equivalents paid on unvested RSUs in 2021.Adjustments to the non-CEO named executive officers’ average total compensation for 2020 as reported in the summary compensation table consist of: (a) $3,640,067 deduction for the average amount reported under the “Stock Awards” and “Option Awards” columns in the summary compensation table; (b) $5,517,190 increase based on the average fair value of equity awards granted in 2020 that remained outstanding and unvested as of December 31, 2020; (c) $4,027,257 increase for equity awards granted in prior fiscal years that remained outstanding and unvested as of December 31, 2020, determined based on the average change in fair value of such awards from December 31, 2019, to December 31, 2020; (d) $116,105 deduction for awards granted in prior fiscal years that vested in 2020, determined based on the average change in fair value of such awards from December 31, 2019, to the vest date; (e) $217,527 increase based on the average amount of dividend equivalents paid on unvested RSUs in 2020; and (f) $865 deduction for the change in actuarial present values reported under the “Change in Pension Value and Nonqualifed Deferred Compensation Earnings” column in the summary compensation table.
-5350141
5109857
-2095368
-776587
271835
-4425121
5081041
2923509
615711
229339
-3640067
5517190
4027257
-116105
217527
-865
TSR represents the cumulative TSR for the company and the S&P Information Technology index over a three-year period beginning December 31, 2019, as of the years ended 2022, 2021 and 2020. TSR data is obtained from Research Data Group, Inc. (RDG).
<div style="margin-bottom:12pt;margin-top:12pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Compensation actually paid to the CEO decreased year over year by $25,587,725, or 68%, and $6,231,484, or 14%, in 2022 and 2021, respectively. Compensation actually paid to the remaining non-CEO named executive officers decreased year over year by $6,208,968, or 55%, and $504,962, or 4%, in 2022 and 2021, respectively. During this period, the company’s cumulative TSR was 39.5%. Net income increased year over year by $980 million, or 13%, and $2.17 billion, or 39%, in 2022 and 2021, respectively. Operating profit increased year over year by $1.18 billion, or 13%, and $3.07 billion, or 52%, in 2022 and 2021, respectively. </span></div><div style="margin-bottom:12pt;margin-top:12pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">TSR, net income and operating profit are some indicators of the company’s overall performance that may impact the value of total compensation; however, other performance measures and factors are considered in setting named executive officers’ compensation. See the Compensation Discussion and Analysis for additional information.</span></div>
<div style="margin-bottom:12pt;margin-top:12pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Compensation actually paid to the CEO decreased year over year by $25,587,725, or 68%, and $6,231,484, or 14%, in 2022 and 2021, respectively. Compensation actually paid to the remaining non-CEO named executive officers decreased year over year by $6,208,968, or 55%, and $504,962, or 4%, in 2022 and 2021, respectively. During this period, the company’s cumulative TSR was 39.5%. Net income increased year over year by $980 million, or 13%, and $2.17 billion, or 39%, in 2022 and 2021, respectively. Operating profit increased year over year by $1.18 billion, or 13%, and $3.07 billion, or 52%, in 2022 and 2021, respectively. </span></div><div style="margin-bottom:12pt;margin-top:12pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">TSR, net income and operating profit are some indicators of the company’s overall performance that may impact the value of total compensation; however, other performance measures and factors are considered in setting named executive officers’ compensation. See the Compensation Discussion and Analysis for additional information.</span></div>
<div style="margin-bottom:12pt;margin-top:12pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Compensation actually paid to the CEO decreased year over year by $25,587,725, or 68%, and $6,231,484, or 14%, in 2022 and 2021, respectively. Compensation actually paid to the remaining non-CEO named executive officers decreased year over year by $6,208,968, or 55%, and $504,962, or 4%, in 2022 and 2021, respectively. During this period, the company’s cumulative TSR was 39.5%. Net income increased year over year by $980 million, or 13%, and $2.17 billion, or 39%, in 2022 and 2021, respectively. Operating profit increased year over year by $1.18 billion, or 13%, and $3.07 billion, or 52%, in 2022 and 2021, respectively. </span></div><div style="margin-bottom:12pt;margin-top:12pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">TSR, net income and operating profit are some indicators of the company’s overall performance that may impact the value of total compensation; however, other performance measures and factors are considered in setting named executive officers’ compensation. See the Compensation Discussion and Analysis for additional information.</span></div>
-25587725
-0.68
-6231484
-0.14
-6208968
-0.55
-504962
-0.04
0.395
980000000
0.13
2170000000
0.39
1180000000
0.13
3070000000.00
0.52
The company’s cumulative TSR of 39.5% for the three-year period ending December 31, 2022, was about the same as the S&P Information Technology Index return for the same period of 39.0%.
0.395
0.390
<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:48.290%"><tr><td style="width:1.0%"/><td style="width:98.900%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Revenue growth: total TI</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Operating profit</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Operating profit margin</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total shareholder return</span></td></tr></table>
Revenue growth: total TI
Operating profit
Operating profit
Operating profit margin
Total shareholder return