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Stock-Based Compensation (Tables) | 3 Months Ended
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Mar. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Summary of Share-Based Compensation Expense Income Tax Benefit Awards Issued Under Incentive Plans | Stock-based compensation expense of awards issued under the Company’s incentive plans, and the income tax benefit of awards vested and exercised, are as follows:
|  |  |  | Three Months Ended March 31,
(In millions) |  |  |  |  |  | 2024 |  | 2023
Restricted stock units - employees and non-employee directors |  |  |  |  |  | $ | 9 |  |  | $ | 7 |
Restricted stock awards |  |  |  |  |  | 1 |  |  | 4 |
Performance share awards |  |  |  |  |  | 3 |  |  | 5 |
Total stock-based compensation expense |  |  |  |  |  | $ | 13 |  |  | $ | 16 |
Income tax benefit |  |  |  |  |  | $ | — |  |  | $ | 1 |
Assumptions to Determine the Grant Date Fair Value of the Equity Component and the Period-end Fair Value of the Liability | The following assumptions were used to determine the grant date fair value of the equity component and the period-end fair value of the liability component of the TSR Performance Share Awards:
|  | Grant Date |
|  | February 21, 2024 |  | March 31, 2024
Fair value per performance share award |  | $ | 19.38 |  |  | $5.24 - $10.61
Assumptions: |  |  |  |
Stock price volatility |  | 38.0 | % |  | 23.7% - 37.9%
Risk-free rate of return |  | 4.39 | % |  | 4.38% - 5.08%

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- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of employee stock purchase plans, including, but not limited to: (a) expected term, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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