AMEREN CORP, DEF 14A filed on 3/26/2024
Proxy Statement (definitive)
v3.24.1
Cover
 12 Months Ended
Dec. 31, 2023
Document Information [Line Items]  
Document Type DEF 14A
Amendment Flag false
Entity Information [Line Items]  
Entity Registrant Name Ameren Corporation
Entity Central Index Key 0001002910
v3.24.1
Pay vs Performance Disclosure
 12 Months Ended
Dec. 31, 2023
USD ($)
$ / shares
Dec. 31, 2022
USD ($)
$ / shares
Dec. 31, 2021
USD ($)
$ / shares
Dec. 31, 2020
USD ($)
$ / shares
Dec. 31, 2019
Pay vs Performance Disclosure          
Pay vs Performance Disclosure, Table
Pay vs. Performance
We are providing the following information to comply with Item 402(v) of Regulation S-K:
The Pay vs. Performance (“PVP”) table below provides the “compensation actually paid” ​(“CAP”) to the Company’s CEO and the average CAP for non-CEO NEOs. CAP represents a new calculation of compensation that differs from the total compensation reported in the Summary Compensation Table (“SCT”). You should refer to the “Compensation Discussion and Analysis” section above for discussion regarding how the Company’s compensation program is designed to align with the Company’s performance and long-term shareholder interests.
Year
(a)
​ ​ ​ ​ ​
Value of initial fixed $100
investment based on:
​ ​ ​ ​
​
Summary
Compensation
Table Total for
CEO(1)
($)
(b)
 ​ ​
Compensation
Actually
Paid to
CEO(2)
($)
(c)
 ​ ​
Average
Summary
Compensation
Table Total for
Non-CEO
NEOs(3)
($)
(d)
 ​ ​
Average
Compensation
Actually
Paid to
Non-CEO
NEOs(4)
($)
(e)
 ​ ​
Cumulative
Total
Shareholder
Return
($)
(f)
 ​ ​
Peer Group
Cumulative
Total
Shareholder
Return(5)
($)
(g)
 ​ ​
Net Income(6)
(in millions)
$
(h)
 ​ ​
Company-
Selected
Measure:
Annual
Earnings
Per Share(7)
($)
(i)
 ​
2023 ​ ​ ​ ​ 9,009,431 ​ ​ ​ ​ ​ 2,812,991 ​ ​ ​ ​ ​ 4,486,943 ​ ​ ​ ​ ​ 2,292,462 ​ ​ ​ ​ ​ 105.1 ​ ​ ​ ​ ​ 111.6 ​ ​ ​ ​ ​ 1,152 ​ ​ ​ ​ ​ 4.38 ​ ​
2022 ​ ​ ​ ​ 7,357,331 ​ ​ ​ ​ ​ 8,431,586 ​ ​ ​ ​ ​ 3,855,710 ​ ​ ​ ​ ​ 4,629,404 ​ ​ ​ ​ ​ 125.2 ​ ​ ​ ​ ​ 120.1 ​ ​ ​ ​ ​ 1,074 ​ ​ ​ ​ ​ 4.14 ​ ​
2021 ​ ​ ​ ​ 9,807,836 ​ ​ ​ ​ ​ 13,567,261 ​ ​ ​ ​ ​ 3,278,949 ​ ​ ​ ​ ​ 4,395,710 ​ ​ ​ ​ ​ 122.1 ​ ​ ​ ​ ​ 118.3 ​ ​ ​ ​ ​ 990 ​ ​ ​ ​ ​ 3.84 ​ ​
2020 ​ ​ ​ ​ 10,058,353 ​ ​ ​ ​ ​ 15,068,893 ​ ​ ​ ​ ​ 4,119,985 ​ ​ ​ ​ ​ 5,163,486 ​ ​ ​ ​ ​ 104.3 ​ ​ ​ ​ ​ 100.5 ​ ​ ​ ​ ​ 871 ​ ​ ​ ​ ​ 3.50 ​ ​
​
(1)
Mr. Lyons served as the Company’s President and Chief Executive Officer during 2022 and 2023 and additionally served as Chairman effective as of November 2, 2023. Mr. Baxter served as the Company’s Executive Chairman in 2022 through his retirement on November 2, 2023, and as Chairman, President and Chief Executive Officer in 2020 and 2021.
​
(2)
To calculate CAP for the CEO, as reported in column (c), the following amounts were deducted from and added to the CEO’s total compensation, as reported in the SCT:
​
​ ​ ​
2023
 ​ ​
2022
 ​ ​
2021
 ​ ​
2020
 ​
SCT Total for CEO ​ ​ ​ ​ 9,009,431 ​ ​ ​ ​ ​ 7,357,331 ​ ​ ​ ​ ​ 9,807,836 ​ ​ ​ ​ ​ 10,058,353 ​ ​
Deductions from SCT: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Grant Date Fair Value of Equity-Based Awards Granted in Year (as Reported in Column (e) of the SCT) ​ ​ ​ ​ (5,121,903) ​ ​ ​ ​ ​ (4,271,210) ​ ​ ​ ​ ​ (5,572,210) ​ ​ ​ ​ ​ (5,546,556) ​ ​
Change in Pension Value (as included in column (g) of the SCT) ​ ​ ​ ​ (763,434) ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ (514,419) ​ ​ ​ ​ ​ (1,330,006) ​ ​
Additions to SCT: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Fair Value at Year-end of Unvested Awards Granted in Year(8) ​ ​ ​ ​ 3,132,580 ​ ​ ​ ​ ​ 4,564,904 ​ ​ ​ ​ ​ 6,503,849 ​ ​ ​ ​ ​ 7,053,682 ​ ​
Change in Fair Value of Awards Granted in Prior Years that Vested during
the Year(8) 		​ ​ ​ ​ (471,298) ​ ​ ​ ​ ​ (86,593) ​ ​ ​ ​ ​ (930,958) ​ ​ ​ ​ ​ 267,784 ​ ​
Change in Fair Value of Unvested Awards Granted in Prior Years that Remain Unvested and Outstanding at Year-End(8) ​ ​ ​ ​ (3,196,298) ​ ​ ​ ​ ​ 638,260 ​ ​ ​ ​ ​ 4,023,820 ​ ​ ​ ​ ​ 4,366,953 ​ ​
Service Cost for all Defined Benefit Pension Plans ​ ​ ​ ​ 223,913 ​ ​ ​ ​ ​ 228,894 ​ ​ ​ ​ ​ 249,343 ​ ​ ​ ​ ​ 198,683 ​ ​
Compensation Actually Paid to CEO(9) ​ ​ ​ ​ 2,812,991 ​ ​ ​ ​ ​ 8,431,586 ​ ​ ​ ​ ​ 13,567,261 ​ ​ ​ ​ ​ 15,068,893 ​ ​
​
(3)
The Non-CEO NEOs for the applicable periods are: Mr. Lyons (2020-2021), Mr. Moehn (2020-2023), Mr. Baxter (2022), Ms. Nwamu (2022-2023), Mr. Birk (2022-2023), Mr. Richard J. Mark, the former Chairman and President of Ameren Illinois (2020-2021), Mr. Fadi M. Diya, Senior Vice President and Chief Nuclear Officer of Ameren Missouri (2020-2021), and Mr. Singh (2023).
​
(4)
To calculate Average CAP for the other NEOs, as reported in column (e), the following amounts were deducted from and added to the NEOs’ total compensation, as reported in the SCT:
​
​ ​ ​
2023
 ​ ​
2022
 ​ ​
2021
 ​ ​
2020
 ​
Average SCT Total Compensation for Non-CEO NEOs ​ ​ ​ ​ 4,486,943 ​ ​ ​ ​ ​ 3,855,710 ​ ​ ​ ​ ​ 3,278,949 ​ ​ ​ ​ ​ 4,119,985 ​ ​
Deductions from SCT: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Grant Date Fair Value of Equity-Based Awards Granted in Year (as Reported in Column (e) of the SCT) ​ ​ ​ ​ (2,785,403) ​ ​ ​ ​ ​ (2,060,415) ​ ​ ​ ​ ​ (1,691,969) ​ ​ ​ ​ ​ (2,353,962) ​ ​
Change in Pension Value (as included in column (g) of the SCT) ​ ​ ​ ​ (304,745) ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ (207,943) ​ ​ ​ ​ ​ (552,469) ​ ​
Additions to SCT: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Fair Value at Year-end of Unvested Awards Granted in Year(8) ​ ​ ​ ​ 2,042,220 ​ ​ ​ ​ ​ 2,187,358 ​ ​ ​ ​ ​ 1,974,854 ​ ​ ​ ​ ​ 2,806,801 ​ ​
Change in Fair Value of Awards Granted in Prior Years that Vested during the Year(8) ​ ​ ​ ​ (154,054) ​ ​ ​ ​ ​ (107,389) ​ ​ ​ ​ ​ (273,115) ​ ​ ​ ​ ​ 65,188 ​ ​
Change in Fair Value of Unvested Awards Granted in Prior Years that remain Unvested and Outstanding at Year-End(8) ​ ​ ​ ​ (1,087,883) ​ ​ ​ ​ ​ 583,120 ​ ​ ​ ​ ​ 1,183,960 ​ ​ ​ ​ ​ 971,028 ​ ​
Service Cost for all Defined Benefit Pension Plans ​ ​ ​ ​ 95,384 ​ ​ ​ ​ ​ 171,020 ​ ​ ​ ​ ​ 130,974 ​ ​ ​ ​ ​ 106,915 ​ ​
Average Compensation Actually Paid to Non-CEO NEOs(9) ​ ​ ​ ​ 2,292,462 ​ ​ ​ ​ ​ 4,629,404 ​ ​ ​ ​ ​ 4,395,710 ​ ​ ​ ​ ​ 5,163,486 ​ ​
​
(5)
Represents the Cumulative TSR for the S&P 500 Utilities Index.
​
(6)
Value reported is net income attributable to Ameren common shareholders, as reported in the Company’s Annual Report on Form 10-K for the applicable period.
​
(7)
Value reported is the Company’s GAAP diluted EPS for the respective year.
​
(8)
The below table provides the valuation assumptions used in determining the fair value of equity awards (on the respective valuation dates) that are materially different from those originally disclosed as of the grant date of such equity awards.
​
Performance Period
​ ​
Valuation Date
 ​ ​
Risk-Free Rate
 ​ ​
Ameren’s Common Stock Volatility
 ​ ​
Volatility Range for the Peer Group
 ​
2023 – 2028
 ​ ​
12/31/2023
​ ​
3.85%
​ ​
26.2%
​ ​
24.49% – 30.56%
​
2023 – 2025
 ​ ​
12/31/2023
​ ​
4.23%
​ ​
22.0%
​ ​
19.98% – 24.79%
​
2022 – 2024
 ​ ​
12/31/2022
​ ​
4.41%
​ ​
20.09%
​ ​
19.18% – 23.89%
​
​
12/31/2023
​ ​
4.79%
​ ​
22.1%
​ ​
18.01% – 23.96%
​
2021 – 2023
 ​ ​
12/31/2021
​ ​
0.73%
​ ​
33.2%
​ ​
29.71% – 41.14%
​
​
12/31/2022
​ ​
4.73%
​ ​
21.99%
​ ​
21.77% – 27.08%
​
2020 – 2022
 ​ ​
12/31/2020
​ ​
0.13%
​ ​
32.2%
​ ​
28.98% – 40.10%
​
​
12/31/2021
​ ​
0.39%
​ ​
18.0%
​ ​
16.19% – 22.46%
​
2019 – 2021
 ​ ​
12/31/2019
​ ​
1.58%
​ ​
16.5%
​ ​
15.06% – 30.22%
​
​
12/31/2020
​ ​
0.10%
​ ​
43.3%
​ ​
38.61% – 54.73%
​
2018 – 2020
 ​ ​
12/31/2019
​ ​
1.59%
​ ​
14.3%
​ ​
12.67% – 146.95%
​
​
(9)
No adjustments were required with respect to the dollar value of dividends or other earnings paid on stock or option awards, because the value of dividend equivalents accrued on such awards are included in the calculation of the fair value of such awards as of each applicable valuation date.
​
        
Company Selected Measure Name Annual Earnings Per Share        
Named Executive Officers, Footnote
(1)
Mr. Lyons served as the Company’s President and Chief Executive Officer during 2022 and 2023 and additionally served as Chairman effective as of November 2, 2023. Mr. Baxter served as the Company’s Executive Chairman in 2022 through his retirement on November 2, 2023, and as Chairman, President and Chief Executive Officer in 2020 and 2021.
       
Peer Group Issuers, Footnote
(5)
Represents the Cumulative TSR for the S&P 500 Utilities Index.
       
PEO Total Compensation Amount $ 9,009,431 $ 7,357,331 $ 9,807,836 $ 10,058,353  
PEO Actually Paid Compensation Amount $ 2,812,991 8,431,586 13,567,261 15,068,893  
Adjustment To PEO Compensation, Footnote
(2)
To calculate CAP for the CEO, as reported in column (c), the following amounts were deducted from and added to the CEO’s total compensation, as reported in the SCT:
​
​ ​ ​
2023
 ​ ​
2022
 ​ ​
2021
 ​ ​
2020
 ​
SCT Total for CEO ​ ​ ​ ​ 9,009,431 ​ ​ ​ ​ ​ 7,357,331 ​ ​ ​ ​ ​ 9,807,836 ​ ​ ​ ​ ​ 10,058,353 ​ ​
Deductions from SCT: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Grant Date Fair Value of Equity-Based Awards Granted in Year (as Reported in Column (e) of the SCT) ​ ​ ​ ​ (5,121,903) ​ ​ ​ ​ ​ (4,271,210) ​ ​ ​ ​ ​ (5,572,210) ​ ​ ​ ​ ​ (5,546,556) ​ ​
Change in Pension Value (as included in column (g) of the SCT) ​ ​ ​ ​ (763,434) ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ (514,419) ​ ​ ​ ​ ​ (1,330,006) ​ ​
Additions to SCT: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Fair Value at Year-end of Unvested Awards Granted in Year(8) ​ ​ ​ ​ 3,132,580 ​ ​ ​ ​ ​ 4,564,904 ​ ​ ​ ​ ​ 6,503,849 ​ ​ ​ ​ ​ 7,053,682 ​ ​
Change in Fair Value of Awards Granted in Prior Years that Vested during
the Year(8) 		​ ​ ​ ​ (471,298) ​ ​ ​ ​ ​ (86,593) ​ ​ ​ ​ ​ (930,958) ​ ​ ​ ​ ​ 267,784 ​ ​
Change in Fair Value of Unvested Awards Granted in Prior Years that Remain Unvested and Outstanding at Year-End(8) ​ ​ ​ ​ (3,196,298) ​ ​ ​ ​ ​ 638,260 ​ ​ ​ ​ ​ 4,023,820 ​ ​ ​ ​ ​ 4,366,953 ​ ​
Service Cost for all Defined Benefit Pension Plans ​ ​ ​ ​ 223,913 ​ ​ ​ ​ ​ 228,894 ​ ​ ​ ​ ​ 249,343 ​ ​ ​ ​ ​ 198,683 ​ ​
Compensation Actually Paid to CEO(9) ​ ​ ​ ​ 2,812,991 ​ ​ ​ ​ ​ 8,431,586 ​ ​ ​ ​ ​ 13,567,261 ​ ​ ​ ​ ​ 15,068,893 ​ ​
       
Non-PEO NEO Average Total Compensation Amount $ 4,486,943 3,855,710 3,278,949 4,119,985  
Non-PEO NEO Average Compensation Actually Paid Amount $ 2,292,462 4,629,404 4,395,710 5,163,486  
Adjustment to Non-PEO NEO Compensation Footnote
(4)
To calculate Average CAP for the other NEOs, as reported in column (e), the following amounts were deducted from and added to the NEOs’ total compensation, as reported in the SCT:
​
​ ​ ​
2023
 ​ ​
2022
 ​ ​
2021
 ​ ​
2020
 ​
Average SCT Total Compensation for Non-CEO NEOs ​ ​ ​ ​ 4,486,943 ​ ​ ​ ​ ​ 3,855,710 ​ ​ ​ ​ ​ 3,278,949 ​ ​ ​ ​ ​ 4,119,985 ​ ​
Deductions from SCT: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Grant Date Fair Value of Equity-Based Awards Granted in Year (as Reported in Column (e) of the SCT) ​ ​ ​ ​ (2,785,403) ​ ​ ​ ​ ​ (2,060,415) ​ ​ ​ ​ ​ (1,691,969) ​ ​ ​ ​ ​ (2,353,962) ​ ​
Change in Pension Value (as included in column (g) of the SCT) ​ ​ ​ ​ (304,745) ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ (207,943) ​ ​ ​ ​ ​ (552,469) ​ ​
Additions to SCT: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Fair Value at Year-end of Unvested Awards Granted in Year(8) ​ ​ ​ ​ 2,042,220 ​ ​ ​ ​ ​ 2,187,358 ​ ​ ​ ​ ​ 1,974,854 ​ ​ ​ ​ ​ 2,806,801 ​ ​
Change in Fair Value of Awards Granted in Prior Years that Vested during the Year(8) ​ ​ ​ ​ (154,054) ​ ​ ​ ​ ​ (107,389) ​ ​ ​ ​ ​ (273,115) ​ ​ ​ ​ ​ 65,188 ​ ​
Change in Fair Value of Unvested Awards Granted in Prior Years that remain Unvested and Outstanding at Year-End(8) ​ ​ ​ ​ (1,087,883) ​ ​ ​ ​ ​ 583,120 ​ ​ ​ ​ ​ 1,183,960 ​ ​ ​ ​ ​ 971,028 ​ ​
Service Cost for all Defined Benefit Pension Plans ​ ​ ​ ​ 95,384 ​ ​ ​ ​ ​ 171,020 ​ ​ ​ ​ ​ 130,974 ​ ​ ​ ​ ​ 106,915 ​ ​
Average Compensation Actually Paid to Non-CEO NEOs(9) ​ ​ ​ ​ 2,292,462 ​ ​ ​ ​ ​ 4,629,404 ​ ​ ​ ​ ​ 4,395,710 ​ ​ ​ ​ ​ 5,163,486 ​ ​
       
Compensation Actually Paid vs. Company Selected Measure
Relationship Between Compensation Actually Paid and Performance Measures in the PVP Table
The most important annual financial measure that the Company uses to link pay to performance is the Company’s annual EPS, which is not only the most heavily weighted metric in the STIP, but also generally consistent with Ameren’s TSR, which is the most heavily weighted performance metric in the Company’s LTIP. As shown in the chart below, the Company’s EPS increased by 9.7% between 2020 and 2021, while the CEO and Average NEO CAP decreased by 10% and 14.9%, respectively, for the same period. In 2022, while the Average NEO CAP increased by 5.3% and the CEO CAP decreased by 37.9%, driven primarily by the appointment of a new CEO effective January 1, 2022, the Company’s EPS increased by 7.8%. In 2023, while the CEO CAP and the Average NEO CAP decreased by 66.6% and 50.5% respectively, driven primarily by the impact on the fair value of outstanding equity awards of the fourth quarter 2023 Ameren stock price decline as a result of the unfavorable regulatory outcomes in Ameren Illinois’ natural gas and multi-year electric distribution rate review and grid plan proceedings, the Company’s EPS increased by 5.8%.
During the four-year period (2020 – 2023), the Company’s Cumulative TSR was 5.1 percent and the Company’s net income increased by 32.3%. Over the same period, the S&P 500 Utilities Index provided a cumulative TSR of 11.6 percent. The value of an initial fixed $100 investment based on the Company’s cumulative TSR was 3.8, 3.8, and 5.1 percentage points above the S&P 500 Utilities Index TSR in 2020, 2021, and 2022, respectively, and 6.5 percentage points below for 2023, driven primarily by the impact of the fourth quarter 2023 Ameren stock price decline as a result of the unfavorable regulatory outcomes in Ameren Illinois’ natural gas and multi-year electric distribution rate review and grid plan proceedings.
[MISSING IMAGE: bc_capvscsmeps-pn.jpg]
 
       
Tabular List, Table
Additional Company-Selected Performance Measures
The following table represents the unranked list of the most important performance measures the Company used to align compensation actually paid to the CEO and NEOs for 2023 to Company performance. While these performance measures are the most important measures, additional financial and other measures were also considered to align the CEO and NEOs’ pay and performance as further described in the “Compensation Discussion and Analysis” section above.
​ Annual EPS ​
​ Three-Year TSR Ranking vs. the TSR Peer Group ​
​ Clean Energy Transition metric ​
These measures generally reflect those used internally to measure Company performance and externally to report to investors, and taken together they provide a holistic measure of Company growth, shareholder value and overall financial performance, as well as progress toward transitioning to clean energy through the addition of renewable generation, energy storage and the retirement of coal-fired energy centers.
       
Total Shareholder Return Amount $ 105.1 125.2 122.1 104.3  
Peer Group Total Shareholder Return Amount 111.6 120.1 118.3 100.5  
Net Income (Loss) $ 1,152,000,000 $ 1,074,000,000 $ 990,000,000 $ 871,000,000  
Company Selected Measure Amount | $ / shares 4.38 4.14 3.84 3.5  
PEO Name Mr. Lyons        
Measure:: 1          
Pay vs Performance Disclosure          
Name Annual EPS        
Non-GAAP Measure Description
(7)
Value reported is the Company’s GAAP diluted EPS for the respective year.
       
Measure:: 2          
Pay vs Performance Disclosure          
Name Three-Year TSR Ranking vs. the TSR Peer Group        
Measure:: 3          
Pay vs Performance Disclosure          
Name Clean Energy Transition metric        
Adjustment To Compensation Fair Value Of Equity Awards Valuation Assumptions Used For Performance Period 2023 2028 [Member]          
Pay vs Performance Disclosure          
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate 3.85%        
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate 26.20%        
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Range For Peer Group, Minimum 24.49%        
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Range For Peet, Maximum 30.56%        
Adjustment To Compensation Fair Value Of Equity Awards Valuation Assumptions Used For Performance Period 2023 2025 [Member]          
Pay vs Performance Disclosure          
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate 4.23%        
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate 22.00%        
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Range For Peer Group, Minimum 19.98%        
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Range For Peet, Maximum 24.79%        
Adjustment To Compensation, Fair Value of Equity Awards, Valuation Assumptions Used For Performance Period 2022-2024 [Member]          
Pay vs Performance Disclosure          
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate 4.79% 4.41%      
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate 22.10% 20.09%      
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Range For Peer Group, Minimum 18.01% 19.18%      
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Range For Peet, Maximum 23.96% 23.89%      
Adjustment To Compensation, Fair Value of Equity Awards, Valuation Assumptions Used For Performance Period 2021-2023 [Member]          
Pay vs Performance Disclosure          
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate   4.73% 0.73%    
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate   21.99% 33.20%    
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Range For Peer Group, Minimum   21.77% 29.71%    
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Range For Peet, Maximum   27.08% 41.14%    
Adjustment To Compensation, Fair Value of Equity Awards, Valuation Assumptions Used For Performance Period 2020-2022 [Member]          
Pay vs Performance Disclosure          
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate     0.39% 0.13%  
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate     18.00% 32.20%  
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Range For Peer Group, Minimum     16.19% 28.98%  
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Range For Peet, Maximum     22.46% 40.10%  
Adjustment To Compensation, Fair Value of Equity Awards, Valuation Assumptions Used For Performance Period 2019-2021 [Member]          
Pay vs Performance Disclosure          
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate       0.10% 1.58%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate       43.30% 16.50%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Range For Peer Group, Minimum       38.61% 15.06%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Range For Peet, Maximum       54.73% 30.22%
Adjustment To Compensation, Fair Value of Equity Awards, Valuation Assumptions Used For Performance Period 2018-2020 [Member]          
Pay vs Performance Disclosure          
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate         1.59%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate         14.30%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Range For Peer Group, Minimum         12.67%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Range For Peet, Maximum         146.95%
PEO | Equity Awards Value In Summary Compensation Table (Grant Date Value)          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ (5,121,903) $ (4,271,210) $ (5,572,210) $ (5,546,556)  
PEO | Pension Adjustments Pension Value In Summary Compensation Table [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (763,434) (514,419) (1,330,006)  
PEO | Year-end Fair Value Of Awards Granted In The Current Fiscal Year [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 3,132,580 4,564,904 6,503,849 7,053,682  
PEO | Change In Fair Value As Of Vesting Date Of Prior Year Awards Vested During Current Year [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (471,298) (86,593) (930,958) 267,784  
PEO | Change In Fair Value Of Outstanding And Unvested Awards Granted In Prior Fiscal Years [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (3,196,298) 638,260 4,023,820 4,366,953  
PEO | Pension Adjustments Service Cost [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 223,913 228,894 249,343 198,683  
Non-PEO NEO | Equity Awards Value In Summary Compensation Table (Grant Date Value)          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (2,785,403) (2,060,415) (1,691,969) (2,353,962)  
Non-PEO NEO | Pension Adjustments Pension Value In Summary Compensation Table [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (304,745) (207,943) (552,469)  
Non-PEO NEO | Year-end Fair Value Of Awards Granted In The Current Fiscal Year [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 2,042,220 2,187,358 1,974,854 2,806,801  
Non-PEO NEO | Change In Fair Value As Of Vesting Date Of Prior Year Awards Vested During Current Year [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (154,054) (107,389) (273,115) 65,188  
Non-PEO NEO | Change In Fair Value Of Outstanding And Unvested Awards Granted In Prior Fiscal Years [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (1,087,883) 583,120 1,183,960 971,028  
Non-PEO NEO | Pension Adjustments Service Cost [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ 95,384 $ 171,020 $ 130,974 $ 106,915