XML 72 R56.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Stock-Based Incentive Compensation Plans (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Compensation Expense by Award Type | Total compensation expense (in millions) by award type for our stock-based incentive compensation plans was as follows:
| For the Years Ended December 31,
| 2024 |  | 2023 |  | 2022
Stock options | $ | 5 |  |  | $ | 8 |  |  | $ | 6 |
Performance shares | 8 |  |  | 12 |  |  | 10 |
RSUs | 51 |  |  | 41 |  |  | 35 |
Total | $ | 64 |  |  | $ | 61 |  |  | $ | 51 |
Recognized tax benefit | $ | 11 |  |  | $ | 9 |  |  | $ | 11 |
Total Unrecognized Compensation Expense for All Stock-Based Incentive Compensation Plans | Total unrecognized compensation expense (in millions) and expected weighted-average period (in years) by award type for our stock-based incentive compensation plans was as follows:
| For the Years Ended December 31,
| 2024 |  | 2023 |  | 2022
| Expense |  | Weighted-Average Period |  | Expense |  | Weighted-Average Period |  | Expense |  | Weighted-Average Period
Stock options | $ | 3 |  |  | 0.8 |  | $ | 9 |  |  | 0.8 |  | $ | 11 |  |  | 0.8
Performance shares | 20 |  |  | 1.5 |  | 21 |  |  | 1.3 |  | 19 |  |  | 1.2
RSUs | 40 |  |  | 1.4 |  | 54 |  |  | 1.6 |  | 55 |  |  | 1.4
Total unrecognized stock-based |  |  |  |  |  |  |  |  |  |  |
incentive compensation expense | $ | 63 |  |  |  |  | $ | 84 |  |  |  |  | $ | 85 |  |  |
Schedule of Stock Option Valuation Assumptions | The option price assumptions used for our stock option awards were as follows:
| For the Years Ended December 31,
| 2024 |  | 2023 |  | 2022
Weighted-average fair value per option granted | $ | 9.53 |  | $ | 11.64 |  | $ | 18.13
Weighted-average assumptions: |  |  |  |  |
Dividend yield | 4.4% |  | 4.1% |  | 3.2%
Expected volatility | 54.5% |  | 48.1% |  | 44.4%
Risk-free interest rate (1) | 4.3% |  | 3.8-4.1% |  | 1.9-3.8%
Expected life (in years) | 4.1 |  | 5.8 |  | 5.8
(1) Risk-free interest rate expressed as a range, as applicable.
Summary of Activity for Stock Options | Information with respect to our incentive plans involving stock options with service conditions (aggregate intrinsic value shown in millions) was as follows:
| Shares |  | Weighted-Average Exercise Price |  | Weighted-Average Remaining Contractual Term |  | Aggregate Intrinsic Value
Outstanding as of December 31, 2023 | 3,876,978 |  |  | $ | 54.30 |  |  |  |  |
Granted | – |  |  | – |  |  |  |  |
Exercised | (16,164) |  |  | 21.13 |  |  |  |
Forfeited or expired | (446,360) |  |  | 50.85 |  |  |  |
Outstanding as of December 31, 2024 | 3,414,454 |  | $ | 54.90 |  |  | 4.9 |  | $ | – |
Vested or expected to vest as of December 31, 2024 (1) | 3,323,463 |  | $ | 55.22 |  |  | 4.9 |  | $ | – |
Exercisable as of December 31, 2024 | 2,793,542 |  | $ | 58.50 |  |  | 4.3 |  | $ | – |
(1) Includes estimated forfeitures. Information with respect to our incentive plans involving stock options with performance conditions (aggregate intrinsic value shown in millions) was as follows:
| Shares |  | Weighted-Average Exercise Price |  | Weighted-Average Remaining Contractual Term |  | Aggregate Intrinsic Value
Outstanding as of December 31, 2023 | 112,537 |  |  | $ | 45.73 |  |  |  |  |
Granted | 10,969 |  |  | 27.34 |  |  |  |  |
Exercised | (5,219) |  |  | 24.47 |  |  |  |  |
Forfeited or expired | (25,832) |  |  | 58.72 |  |  |  |  |
Outstanding as of December 31, 2024 | 92,455 |  |  | $ | 41.12 |  |  | 2.0 |  | $ | – |
Vested or expected to vest as of December 31, 2024 (1) | 90,283 |  |  | $ | 41.48 |  |  | 2.0 |  | $ | – |
Exercisable as of December 31, 2024 | 85,216 |  |  | $ | 42.38 |  |  | 1.9 |  | $ | – |
(1) Includes estimated forfeitures.
Summary of Activity for Performance Shares | Information with respect to our performance shares was as follows:
| Shares |  | Weighted-Average Grant Date Fair Value
Outstanding as of December 31, 2023 (1) | 1,192,408 |  |  | $ | 50.06 |
Granted | 834,632 |  |  | 32.25 |
Vested | – |  |  | – |
Forfeited | (184,834) |  |  | 37.47 |
Performance adjustment (2) | (248,174) |  |  | 59.40 |
Outstanding as of December 31, 2024 (1) | 1,594,032 |  |  | $ | 40.74 |
(1) Represents target award amounts. (2) Represents the difference between the target shares granted and the actual shares vested based upon the achievement level of performance measures.
Summary of Activity for Restricted Stock Units | Information with respect to our RSUs was as follows:
| Shares |  | Weighted-Average Grant Date Fair Value |  |
Outstanding as of December 31, 2023 | 2,919,318 |  | $ | 44.00 |  |  |
Granted | 2,146,356 |  | 28.08 |  |  |
Vested | (870,900) |  | 49.43 |  |  |
Forfeited | (418,541) |  | 39.17 |  |  |
Outstanding as of December 31, 2024 | 3,776,233 |  |  | $ | 34.24 |  |  |

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 the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited 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
Name: | us-gaap_ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + 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 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
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 stock options, including, but not limited to: (a) expected term of share options and similar instruments, (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_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of cost not yet recognized and weighted-average period over which cost is expected to be recognized for nonvested award under share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (i) -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_ScheduleOfUnrecognizedCompensationCostNonvestedAwardsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of number and weighted-average grant date fair value for nonvested performance shares. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Subparagraph (c) -Paragraph 2 -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ShareBasedCompensationPerformanceSharesAwardUnvestedActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration