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Share-Based Payments (Tables) | 12 Months Ended
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Dec. 31, 2023
Share-Based Payment Arrangement [Abstract] |
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan | The following table summarizes the compensation cost recognized and the related income tax benefit for stock options, restricted stock units, performance shares and performance units for the years ended December 31:
|  | 2023 |  | 2022 |  | 2021
Omnibus Incentive Plan: |  | Total Compensation Cost Recognized (1) |  | Income Tax Benefit |  | Total Compensation Cost Recognized (1) |  | Income Tax Benefit |  | Total Compensation Cost Recognized (1) |  | Income Tax Benefit
|  | (in millions)
Employee stock options |  | $ | 0 |  |  | $ | 0 |  |  | $ | 1 |  |  | $ | 0 |  |  | $ | 2 |  |  | $ | 0 |
Employee restricted stock units |  | 200 |  |  | 47 |  |  | 189 |  |  | 44 |  |  | 178 |  |  | 41 |
Employee performance shares and performance units |  | 54 |  |  | 12 |  |  | 18 |  |  | 4 |  |  | 88 |  |  | 20 |
Total |  | $ | 254 |  |  | $ | 59 |  |  | $ | 208 |  |  | $ | 48 |  |  | $ | 268 |  |  | $ | 61 |
__________ (1) Compensation costs related to retirement eligible participants are recorded on the grant date (typically in the first quarter of every year).
|  | 2023 |  | 2022 |  | 2021
Assurance IQ Acquisition: |  | Total Compensation Cost Recognized |  | Income Tax Benefit |  | Total Compensation Cost Recognized |  | Income Tax Benefit |  | Total Compensation Cost Recognized |  | Income Tax Benefit
|  | (in millions)
Employee stock options |  | $ | 2 |  |  | $ | 1 |  |  | $ | 10 |  |  | $ | 2 |  |  | $ | 14 |  |  | $ | 3 |
Employee restricted stock units |  | 1 |  |  | 0 |  |  | 2 |  |  | 1 |  |  | 2 |  |  | 0 |
Employee performance shares |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |
Total |  | $ | 3 |  |  | $ | 1 |  |  | $ | 12 |  |  | $ | 3 |  |  | $ | 16 |  |  | $ | 3 |
Schedule of Share Based Compensation Stock Options Activity | A summary of the status of the Company’s stock option grants is as follows:
|  | Employee Stock Options
|  | Omnibus Incentive Plan |  | Assurance IQ Acquisition
|  | Shares |  | Weighted Average Exercise Price |  | Shares |  | Weighted Average Exercise Price
Outstanding at December 31, 2022 |  | 2,206,369 |  |  | $ | 92.67 |  |  | 53,768 |  |  | $ | 1.49 |
Granted |  | 0 |  |  | 0.00 |  |  | 0 |  |  | 0.00 |
Exercised |  | (349,749) |  |  | 73.87 |  |  | (32,750) |  |  | 1.17 |
Forfeited |  | 0 |  |  | 0.00 |  |  | (1,278) |  |  | 6.86 |
Expired |  | (156,288) |  |  | 106.91 |  |  | (1,382) |  |  | 3.74 |
Outstanding at December 31, 2023 |  | 1,700,332 |  |  | $ | 95.22 |  |  | 18,358 |  |  | $ | 1.53 |
Exercisable at December 31, 2023 |  | 1,700,332 |  |  | $ | 95.22 |  |  | 16,949 |  |  | $ | 1.48 |
The weighted average remaining contractual term and the aggregate intrinsic value of stock options outstanding and exercisable as of December 31, 2023 is as follows:
|  | Employee Stock Options
|  | Omnibus Incentive Plan |  | Assurance IQ Acquisition
|  | Weighted Average Remaining Contractual Term |  | Aggregate Intrinsic Value |  | Weighted Average Remaining Contractual Term |  | Aggregate Intrinsic Value
|  | (in years) |  | (in millions) |  | (in years) |  | (in millions)
Outstanding |  | 3.59 years |  | $ | 17 |  |  | 4.87 years |  | $ | 2 |
Exercisable |  | 3.59 years |  | $ | 17 |  |  | 4.85 years |  | $ | 2 |
Schedule of Nonvested Share Activity | A summary of the Company’s restricted stock unit and performance share awards under the Omnibus Incentive Plan is as follows:
|  | Restricted Stock Units |  | Weighted Average Grant Date Fair Value |  | Performance Share Awards(1) |  | Weighted Average Grant Date Fair Value
Restricted at December 31, 2022 |  | 4,991,040 |  |  | $ | 99.48 |  |  | 2,061,174 |  |  | $ | 97.44 |
Granted |  | 2,192,898 |  |  | 102.64 |  |  | 749,174 |  |  | 103.27 |
Forfeited |  | (176,745) |  |  | 103.88 |  |  | (33,358) |  |  | 104.22 |
Performance adjustment(2) |  | 0 |  | 0.00 |  | (64,007) |  |  | 95.81
Released |  | (2,949,003) |  |  | 96.05 |  |  | (610,290) |  |  | 95.81 |
Restricted at December 31, 2023 |  | 4,058,190 |  |  | $ | 103.48 |  |  | 2,102,693 |  |  | $ | 99.93 |
__________ (1)Performance share awards reflect the target units awarded, reduced for forfeitures and releases to date. The actual number of units to be awarded at the end of each performance period will range between 0% and 150% of the target number of units granted, based upon a measure of the reported performance for the Company relative to stated goals. Performance awards granted to senior management in 2021 include a stated goal related to diversity & inclusion that can modify the performance result by +/- 10%. (2)Represents the difference between the target units granted and the actual units awarded based upon the attainment of performance goals for the Company.
Share-Based Payments | A summary of the Company’s restricted stock unit awards related to the Assurance IQ acquisition is as follows:
|  | Restricted Stock Units |  | Weighted Average Grant Date Fair Value |  |  |  |
Restricted at December 31, 2022 |  | 19,036 |  |  | $ | 87.67 |  |  |  |  |
Granted |  | 0 |  |  | 0.00 |  |  |  |  |
Forfeited |  | (2,713) |  |  | 87.67 |  |  |  |  |
Released |  | (12,222) |  |  | 87.67 |  |  |  |  |
Restricted at December 31, 2023 |  | 4,101 |  |  | $ | 87.67 |  |  |  |  |

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