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Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2024
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, 2024 |
|  | Quantity |  |  | Weighted Average Grant Date Fair Value Per Share |
RSUs — beginning of period |  |  | 1.0 |  |  | $ | 98.36 |
Granted |  |  | 0.5 |  |  | $ | 121.24 |
Vested or forfeited |  |  | (0.6 | ) |  | $ | 106.42 |
RSUs — end of period |  |  | 0.9 |  |  | $ | 104.83 |
|  | Year Ended December 31, 2023 |
|  | Quantity |  |  | Weighted Average Grant Date Fair Value Per Share |
RSUs — beginning of period |  |  | 0.8 |  |  | $ | 118.96 |
Granted |  |  | 0.7 |  |  | $ | 87.03 |
Vested or forfeited |  |  | (0.5 | ) |  | $ | 117.10 |
RSUs — end of period |  |  | 1.0 |  |  | $ | 98.36 |
|  | Year Ended December 31, 2022 |
|  | Quantity |  |  | Weighted Average Grant Date Fair Value Per Share |
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 |
The total fair value of RSUs vested during 2024, 2023 and 2022 was approximately $66, $40 and $40, respectively. As of December 31, 2024, the unrecognized compensation cost related to RSUs was approximately $45 and will be recognized over an estimated weighted average amortization period of 1 year.
Effect of Recording Stock-Based Compensation | The following table reflects the effect of recording stock-based compensation:
|  | Years Ended December 31, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
Stock-based compensation expense by type of award: |  |  |  |  |  |  |  |  |
RSUs |  | $ | 46 |  |  | $ | 51 |  |  | $ | 42 |
Employee stock purchase plan |  |  | 2 |  |  |  | 3 |  |  |  | 3 |
Total stock-based compensation |  |  | 48 |  |  |  | 54 |  |  |  | 45 |
(Excess tax benefit)/shortfall from stock-based compensation |  |  | (5 | ) |  |  | 2 |  |  |  | (1 | )
Net effect on net income (loss) |  | $ | 43 |  |  | $ | 56 |  |  | $ | 44 |
Effect on net earnings (loss) per share: |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.64 |  |  | $ | 0.84 |  |  | $ | 0.74 |
Diluted |  | $ | 0.64 |  |  | $ | 0.84 |  |  | $ | 0.73 |
Schedule of Stock-based Compensation Included in Company's Consolidated Statements of Operations and Comprehensive Income (Loss) | The pre-tax effect within the consolidated statements of operations and comprehensive income (loss) of recording stock-based compensation was as follows:
|  | Years Ended December 31, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
Cost of revenues |  | $ | 6 |  |  | $ | 6 |  |  | $ | 5 |
Research and development expense |  |  | 7 |  |  |  | 7 |  |  |  | 6 |
Selling, general and administrative expense |  |  | 35 |  |  |  | 41 |  |  |  | 34 |
Total pre-tax stock-based compensation expense |  | $ | 48 |  |  | $ | 54 |  |  | $ | 45 |

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