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Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Restricted Stock Unit Activity (Excluding Dividend Equivalents)

Restricted Stock Unit Activity

Nonvested Stock Units						Number of Stock Units						Weighted Average Grant Date Fair Value Per Share
Nonvested at December 31, 2022						1,067,066						$	49.18
Granted						270,741						61.26
Vested						(399,607)						45.86
Forfeited						(5,472)						55.69
Nonvested at December 31, 2023						932,728						$	54.16

Performance Restricted Stock Unit Activity

Performance Restricted Stock Units						Number of Performance Share Units						Weighted Average Grant Date Fair Value Per Share
Nonvested at December 31, 2022						635,385						$	54.26
Granted (1)						293,950						71.34
Vested (2)						(251,479)						44.20
Forfeited						—						—
Nonvested at December 31, 2023 (3)						677,856						$	64.62

____________________

(1)    Includes 86,501 ABV performance restricted stock units and 81,441 TSR performance restricted stock units that were granted prior to 2023 at a weighted average grant date fair value of $43.09 and $38.96, respectively, but met performance hurdles and vested during 2023. The weighted average grant date fair value per share excludes these shares.

(2)    Excludes 167,942 TSR performance restricted stock units that vested during 2023 but were not delivered.

(3)    Excludes 295,216 performance restricted stock units that have met performance hurdles and vested in February 2024. Includes 167,942 TSR performance restricted stock units that vested during 2023 but will be delivered in 2024.

Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions

The following are significant assumptions used in determining the fair value of the performance restricted stock units tied to relative TSR.

						Years Ended December 31,
						2023												2022												2021
Expected term						3.00 years												2.85 years												2.85 years
Expected volatility						29.22		%	–			110.25%						27.19		%	–			78.96%						26.55		%	–			65.84%
Dividend yield						0.00%												0.00%												0.00%
Risk-free-rates						4.38%												1.74%												0.22%
Grant-date fair value						$80.80												$83.97												$60.06

Restricted Stock Award Activity

Restricted Stock Award Activity

Nonvested Shares						Number of Shares						Weighted Average Grant Date Fair Value Per Share
Nonvested at December 31, 2022						36,403						$	59.47
Granted						38,464						52.26
Vested						(36,403)						59.47
Forfeited						—						—
Nonvested at December 31, 2023						38,464						$	52.26

Stock Purchase Plan

Stock Purchase Plan

			Year Ended December 31,
			2023						2022						2021
			(dollars in millions)
Proceeds from purchase of shares by employees			$	2.2					$	2.4					$	2.1
Number of shares issued by the Company			47,204						53,453						67,615

Share-Based Compensation Expense Summary

Share-Based Compensation Expense Summary

			Year Ended December 31,
			2023						2022						2021
			(in millions)
Share‑based compensation expense			$	36					$	39					$	27
Share‑based compensation capitalized as DAC			3						3						2
Income tax benefit			5						6						4

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