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Stock Compensation Plans (Tables) | 12 Months Ended
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Dec. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Stock-Based Compensation Expense Included in Consolidated Statement of Income and Comprehensive Income | Total stock-based compensation expense included in the Consolidated Statements of Income (Loss) and Comprehensive Loss was as follows:
| December 31,
(DOLLARS IN MILLIONS) | 2024 |  | 2023 |  | 2022
Equity-based awards | $ | 77 |  |  | $ | 65 |  |  | $ | 49 |
Liability-based awards | 2 |  |  | 2 |  |  | 2 |
Total stock-based compensation | 79 |  |  | 67 |  |  | 51 |
Less: Tax benefit | (15) |  |  | (11) |  |  | (8) |
Total stock-based compensation, net of tax | $ | 64 |  |  | $ | 56 |  |  | $ | 43 |
SSAR's and Stock Option Activity | SSARs and options activity was as follows:
(SHARE AMOUNTS IN THOUSANDS) | Shares Subject to SSARs/Options |  | Weighted Average Exercise Price |  | SSARs/ Options Exercisable
December 31, 2023 | 315 |  |  | $ | 116.26 |  |  | 194 |
Granted | — |  |  | — |  |  |
Exercised | (7) |  |  | 80.00 |  |  |
Canceled | (20) |  |  | 127.11 |  |  |
December 31, 2024 | 288 |  |  | $ | 116.45 |  |  | 197 |
Expected to Vest at December 31, 2024 | 91 |  |  | $ | 126.70 |  |  |
SSAR's and Stock Option Outstanding | SSARs and options outstanding at December 31, 2024 was as follows:
Price Range | Number Outstanding (in thousands) |  | Weighted Average Remaining Contractual Life (in years) |  | Weighted Average Exercise Price |  | Aggregate Intrinsic Value (in millions)
Over $65 | 288 |  |  | 3.69 |  | $ | 116.45 |  |  | $ | — |
SSARs and options exercisable as of December 31, 2024 was as follows:
Price Range | Number Exercisable (in thousands) |  | Weighted Average Remaining Contractual Life (in years) |  | Weighted Average Exercise Price |  | Aggregate Intrinsic Value (in millions)
Over $65 | 197 |  |  | 3.39 |  | $ | 111.70 |  |  | $ | — |
RSU Activity | RSU activity was as follows:
(SHARE AMOUNTS IN THOUSANDS) | Number of Shares |  | Weighted Average Grant Date Fair Value Per Share
December 31, 2023 | 1,367 |  |  | $ | 101.50 |
Granted | 1,026 |  |  | 79.95 |
Vested | (513) |  |  | 106.97 |
Forfeited | (85) |  |  | 90.93 |
Change due to performance conditions, net | (10) |  |  | 125.82 |
December 31, 2024 | 1,785 |  |  | $ | 87.75 |
Cash RSU activity was as follows:
(SHARE AMOUNTS IN THOUSANDS) | Cash RSUs |  | Weighted Average Fair Value Per Share
December 31, 2023 | 91 |  |  | $ | 80.97 |
Granted | 12 |  |  | 84.55 |
Vested | (44) |  |  | 84.71 |
Forfeited | (2) |  |  | 83.06 |
December 31, 2024 | 57 |  |  | $ | 84.55 |
PRSU Activity | The following table summarizes the Company’s PRSU activity for the years ended December 31, 2024, 2023 and 2022:
(DOLLARS IN MILLIONS) | Issued Shares |  |  |  | Aggregate Purchases |  |  |  | Covered Shares
2024 | — |  |  |  |  | $ | — |  |  |  |  | — |
2023 | — |  |  |  |  | $ | — |  |  |  |  | — |
2022 | 43,690 |  |  |  |  | $ | 6 |  |  |  |  | 21,845 |
PRSU activity was as follows:
(SHARE AMOUNTS IN THOUSANDS) | Number of Shares |  | Weighted Average Grant Date Fair Value Per Share
December 31, 2023 | 61 |  |  | $ | 133.96 |
Granted | — |  |  | — |
Vested | (25) |  |  | 144.67 |
Forfeited | (3) |  |  | 127.41 |
December 31, 2024 | 33 |  |  | $ | 126.49 |
Cash RSU Activity | RSU activity was as follows:
(SHARE AMOUNTS IN THOUSANDS) | Number of Shares |  | Weighted Average Grant Date Fair Value Per Share
December 31, 2023 | 1,367 |  |  | $ | 101.50 |
Granted | 1,026 |  |  | 79.95 |
Vested | (513) |  |  | 106.97 |
Forfeited | (85) |  |  | 90.93 |
Change due to performance conditions, net | (10) |  |  | 125.82 |
December 31, 2024 | 1,785 |  |  | $ | 87.75 |
Cash RSU activity was as follows:
(SHARE AMOUNTS IN THOUSANDS) | Cash RSUs |  | Weighted Average Fair Value Per Share
December 31, 2023 | 91 |  |  | $ | 80.97 |
Granted | 12 |  |  | 84.55 |
Vested | (44) |  |  | 84.71 |
Forfeited | (2) |  |  | 83.06 |
December 31, 2024 | 57 |  |  | $ | 84.55 |

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- Definition Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit. + 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 option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for stock options and stock appreciation rights that were outstanding at the beginning and end of the year, exercisable at the end of the year, and the number of stock options and stock appreciation rights that were granted, exercised or converted, forfeited, and expired during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
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