XML 82 R26.htm IDEA: XBRL DOCUMENT v3.25.0.1
Stock-Based Compensation Plans
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement, Noncash Expense [Abstract]  
Stock-Based Compensation Plans
Our 2023 Incentive Plan provides for the issuance of a total of 25.0 million shares of Class A common stock to eligible employees, less (i) the number of shares granted under the 2017 Incentive Plan between March 24, 2023 and June 6, 2023, plus (ii) any shares subject to awards under the prior 2017 and 2009 Incentive Plans that are forfeited after June 6, 2023. The 2023 Incentive Plan does not affect any awards outstanding under the prior plans. The Purchase Plan provides for the issuance of up to 50.0 million shares of Class A common stock to eligible employees. As of December 31, 2024, we have 22.7 million and 10.6 million shares available for grant under the 2023 Incentive Plan and the Purchase Plan, respectively.
The allocation of total stock-based compensation expense between cost of revenues, selling, general and administrative expenses and restructuring charges as well as the related income tax benefit were as follows for the three years ended December 31:
(in millions)202420232022
Cost of revenues$26 $30 $33 
SG&A expenses150 153 228 
Restructuring charges
(1)(7)— 
Total stock-based compensation expense$175 $176 $261 
Income tax benefit$38 $34 $59 
Restricted Stock Units and Performance Stock Units
We granted RSUs that vest in quarterly or annual installments over periods of up to four years to employees, including our executive officers. A summary of the activity for RSUs granted under our stock-based compensation plans as of December 31, 2024 and changes during the year then ended is presented below:
Number of
Units
(in millions)		Weighted Average
Grant Date
Fair Value
(in dollars)
Unvested at January 1, 2024
3.3 $69.10 
Granted2.5 77.66 
Vested(2.3)72.04 
Forfeited(0.7)73.06 
Unvested at December 31, 2024
2.8 $73.47 
The total vesting date fair value of vested RSUs was $172 million, $176 million and $207 million for the years ended December 31, 2024, 2023 and 2022, respectively. The weighted-average grant date fair value of RSUs granted in 2024, 2023 and 2022 was $77.66, $65.95 and $78.20, respectively. As of December 31, 2024, $146 million of total remaining unrecognized stock-based compensation cost related to RSUs is expected to be recognized over the weighted-average remaining requisite service period of 1.5 years.

We granted PSUs that vest over periods up to four years to employees, including our executive officers. The vesting of PSUs is contingent on meeting certain financial performance targets, market conditions and continued service. A summary of the activity for PSUs granted under our stock-based compensation plans as of December 31, 2024 and changes during the year then ended is presented below. The presentation reflects the number of PSUs at the maximum performance milestones.
Number of
Units
(in millions)		Weighted Average
Grant Date
Fair Value
(in dollars)
Unvested at January 1, 2024
1.5 $74.13 
Granted0.9 83.63 
Vested(0.2)72.80 
Forfeited(0.4)78.42 
Adjustment at the conclusion of the performance measurement period
(0.3)86.87 
Unvested at December 31, 2024
1.5 $76.76 
The total vesting date fair value of vested PSUs was $15 million, $22 million and $8 million for the years ended December 31, 2024, 2023 and 2022, respectively.The weighted-average grant date fair value of PSUs granted in 2024, 2023 and 2022 was $83.63, $67.82 and $90.92, respectively. As of December 31, 2024, $21 million of the total remaining unrecognized stock-based compensation cost related to PSUs is expected to be recognized over the weighted-average remaining requisite service period of 1.5 years.

All RSUs and PSUs have dividend equivalent rights, which entitle holders to the same dividend value per share as holders of common stock. Dividend equivalent rights are subject to the same vesting and other terms and conditions as the corresponding unvested RSUs and PSUs and are accumulated and paid when the underlying shares vest.
Purchase Plan
For the years ended December 31, 2024, 2023 and 2022, the Purchase Plan provided for eligible employees to purchase shares of Class A common stock at a price equal to 95% of the fair market value per share of our Class A common stock on the last date of the purchase period. This plan has been deemed non-compensatory and, therefore, no compensation expense has been recorded. During the years ended December 31, 2024, 2023 and 2022, we issued 0.9 million shares, 1.1 million shares and 1.3 million shares, respectively, of Class A common stock under the Purchase Plan.