XML 60 R49.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Stock-Based Compensation (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract] |
Summary of Activity for RSUs | The following tables present the activity for the RSUs under the Plans:
|  | Year ended December 31, 2023 |
|  | RSUs |  |  | Weighted Average Grant Date Fair Value |
RSUs — beginning of period |  |  | 0.8 |  |  | $ | 118.96 |
Granted |  |  | 0.7 |  |  | $ | 87.03 |
Vested |  |  | (0.5 | ) |  | $ | 117.10 |
RSUs — end of period |  |  | 1.0 |  |  | $ | 98.36 |
|  | Year ended December 31, 2022 |
|  | RSUs |  |  | Weighted Average Grant Date Fair Value |
RSUs — beginning of period |  |  | 0.5 |  |  | $ | 127.93 |
RSUs issued in Atotech Acquisition |  |  | 0.1 |  |  | $ | 110.30 |
Granted |  |  | 0.5 |  |  | $ | 111.60 |
Vested |  |  | (0.3 | ) |  | $ | 118.06 |
RSUs — end of period |  |  | 0.8 |  |  | $ | 118.96 |
Effect of Recording Stock-Based Compensation | The following table reflects the effect of recording stock-based compensation:
|  | Years Ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Stock-based compensation expense by type of award: |  |  |  |  |  |  |  |  |
RSUs |  | $ | 51 |  |  | $ | 42 |  |  | $ | 34 |
Employee stock purchase plan |  |  | 3 |  |  |  | 3 |  |  |  | 3 |
Total stock-based compensation |  |  | 54 |  |  |  | 45 |  |  |  | 37 |
Windfall tax effect on stock-based compensation |  |  | 2 |  |  |  | (1 | ) |  |  | (5 | )
Net effect on net (loss) income |  | $ | 56 |  |  | $ | 44 |  |  | $ | 32 |
Effect on net (loss) earnings per share: |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.84 |  |  | $ | 0.74 |  |  | $ | 0.58 |
Diluted |  | $ | 0.84 |  |  | $ | 0.73 |  |  | $ | 0.58 |
Pre-Tax Effect Within Consolidated Statements of Operations of Recording Stock-Based Compensation | The pre-tax effect within the consolidated statements of operations and comprehensive (loss) income of recording stock-based compensation was as follows:
|  | Years Ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Cost of revenues |  | $ | 6 |  |  | $ | 5 |  |  | $ | 4 |
Research and development expense |  |  | 7 |  |  |  | 6 |  |  |  | 5 |
Selling, general and administrative expense |  |  | 41 |  |  |  | 34 |  |  |  | 28 |
Total pre-tax stock-based compensation expense |  | $ | 54 |  |  | $ | 45 |  |  | $ | 37 |
Fair Value of Employee Purchase Rights Estimated using Black-Scholes Option-Pricing Model | The fair value of employee stock purchase plan rights was estimated using the Black-Scholes option-pricing model with the following weighted average assumptions:
|  | Years Ended December 31, |
Employee stock purchase plan rights: |  | 2023 |  |  | 2022 |  |  | 2021 |
Expected life (years) |  |  | 0.5 |  |  |  | 0.5 |  |  |  | 0.5 |
Risk-free interest rate |  |  | 5.0 | % |  |  | 0.9 | % |  |  | 0.1 | %
Expected volatility |  |  | 44.5 | % |  |  | 41.9 | % |  |  | 39.3 | %
Expected annual dividends per share |  | $ | 0.88 |  |  | $ | 0.88 |  |  | $ | 0.88 |

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the changes in outstanding nonvested restricted stock units. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardEmployeeStockPurchasePlanValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration