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Stock-Based Compensation (Tables)
 12 Months Ended
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