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Stockholders' Equity | 6 Months Ended
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Jun. 30, 2025
Stockholders' Equity Note [Abstract] |
Stockholders' Equity | Changes in Stockholders’ Equity The following tables present certain information regarding our stockholders’ equity as of June 30, 2025 and 2024:
| Six Months Ended June 30, 2025
| Common Stock |  | Additional Paid in Capital |  | Retained Earnings |  | Treasury Stock |  | Accumulated Other Comprehensive Loss |  |  |  | Total
January 1, 2025 | $ | 1 |  |  | $ | 1,200 |  |  | $ | 1,016 |  |  | $ | (1,216) |  |  | $ | (365) |  |  |  |  | $ | 636 |
Settlement of liability awards | — |  |  | 44 |  |  | — |  |  | — |  |  | — |  |  |  |  | 44 |
Vesting of RSUs, net of tax withholdings and other | — |  |  | (36) |  |  | — |  |  | — |  |  | — |  |  |  |  | (36) |
Purchase of treasury stock(1) | — |  |  | — |  |  | — |  |  | (167) |  |  | — |  |  |  |  | (167) |
Stock-based compensation | — |  |  | 18 |  |  | — |  |  | — |  |  | — |  |  |  |  | 18 |
Net income | — |  |  | — |  |  | 82 |  |  | — |  |  | — |  |  |  |  | 82 |
Other comprehensive income | — |  |  | — |  |  | — |  |  | — |  |  | 43 |  |  |  |  | 43 |
March 31, 2025 | $ | 1 |  |  | $ | 1,226 |  |  | $ | 1,098 |  |  | $ | (1,383) |  |  | $ | (322) |  |  |  |  | $ | 620 |
Vesting of RSUs, net of tax withholdings and other | — |  |  | 2 |  |  | — |  |  | — |  |  | — |  |  |  |  | 2 |
Purchase of treasury stock(1) | — |  |  | — |  |  | — |  |  | (101) |  |  | — |  |  |  |  | (101) |
Stock-based compensation | — |  |  | 14 |  |  | — |  |  | — |  |  | — |  |  |  |  | 14 |
Net income | — |  |  | — |  |  | 95 |  |  | — |  |  | — |  |  |  |  | 95 |
Other comprehensive income | — |  |  | — |  |  | — |  |  | — |  |  | 72 |  |  |  |  | 72 |
June 30, 2025 | $ | 1 |  |  | $ | 1,242 |  |  | $ | 1,193 |  |  | $ | (1,484) |  |  | $ | (250) |  |  |  |  | $ | 702 |
(1) Includes excise taxes of $1 million and $2 million for three and six months ended June 30, 2025, respectively.
| Six Months Ended June 30, 2024
| Common Stock |  | Additional Paid in Capital |  | Retained Earnings |  | Treasury Stock |  | Accumulated Other Comprehensive Loss |  |  |  | Total
January 1, 2024 | $ | 1 |  |  | $ | 1,118 |  |  | $ | 680 |  |  | $ | (751) |  |  | $ | (283) |  |  |  |  | $ | 765 |
Settlement of liability awards | — |  |  | 65 |  |  | — |  |  | — |  |  | — |  |  |  |  | 65 |
Vesting of RSUs, net of tax withholding and other | — |  |  | (43) |  |  | — |  |  | — |  |  | — |  |  |  |  | (43) |
Purchase of treasury stock | — |  |  | — |  |  | — |  |  | (25) |  |  | — |  |  |  |  | (25) |
Stock-based compensation | — |  |  | 14 |  |  | — |  |  | — |  |  | — |  |  |  |  | 14 |
Net income | — |  |  | — |  |  | 82 |  |  | — |  |  | — |  |  |  |  | 82 |
Other comprehensive loss | — |  |  | — |  |  | — |  |  | — |  |  | (23) |  |  |  |  | (23) |
March 31, 2024 | $ | 1 |  |  | $ | 1,154 |  |  | $ | 762 |  |  | $ | (776) |  |  | $ | (306) |  |  |  |  | $ | 835 |
Vesting of RSUs, net of tax withholdings and other | — |  |  | 1 |  |  | — |  |  | — |  |  | — |  |  |  |  | 1 |
Purchase of treasury stock | — |  |  | — |  |  | — |  |  | (151) |  |  | — |  |  |  |  | (151) |
Stock-based compensation | — |  |  | 20 |  |  | — |  |  | — |  |  | — |  |  |  |  | 20 |
Net income | — |  |  | — |  |  | 82 |  |  | — |  |  | — |  |  |  |  | 82 |
Other comprehensive loss | — |  |  | — |  |  | — |  |  | — |  |  | (1) |  |  |  |  | (1) |
June 30, 2024 | $ | 1 |  |  | $ | 1,175 |  |  | $ | 844 |  |  | $ | (927) |  |  | $ | (307) |  |  |  |  | $ | 786 |
Stock-based Compensation For the three and six months ended June 30, 2025, we recognized $31 million and $59 million, respectively, in total stock-based compensation expense under all programs. These amounts include $17 million and $27 million of stock-based compensation classified as liability awards for the three and six months ended June 30, 2025, respectively. For the three and six months ended June 30, 2024, we recognized $31 million and $53 million, respectively, in total stock-based compensation expense under all programs. These amounts include $11 million and $19 million of stock-based compensation classified as liability awards for the three and six months ended June 30, 2024, respectively. Restricted Stock Units A summary of the changes in RSUs outstanding under our equity-based compensation plans during the six months ended June 30, 2025 is presented below:
| Number of Restricted Stock Units |  | Weighted Average Grant Date Fair Value
Unvested RSUs as of December 31, 2024 | 2.0 |  |  | $ | 75.49 |
Granted | 1.1 |  |  | $ | 105.28 |
Vested | (1.1) |  |  | $ | 84.91 |
Cancelled | (0.1) |  |  | $ | 78.32 |
Unvested RSUs as of June 30, 2025 | 1.9 |  |  | $ | 87.45 |
The weighted-average grant date fair value of RSUs granted during the six months ended June 30, 2025 and 2024 was $105.28 and $99.57, respectively. The fair value of each RSU grant is based on the market value of our common stock at the time of grant. As of June 30, 2025, we had $121 million of unrecognized stock-based compensation expense relating to unvested RSUs amortized over a weighted-average period of approximately 1.3 years. The fair value at vesting date of RSUs vested during the six months ended June 30, 2025 and 2024 was $113 million and $130 million, respectively. Share Repurchase Programs On June 11, 2024, our Board of Directors approved a share repurchase program under which the Company is authorized to repurchase, from time to time through June 12, 2027, up to an aggregate amount of $1.0 billion of shares of outstanding common stock. During the six months ended June 30, 2025, we repurchased approximately 3.1 million shares of common stock under the repurchase program at an aggregate cost of $268 million (including excise tax). On July 31, 2025, our Board of Directors approved an additional aggregate amount of up to $500 million of shares of outstanding common stock as authorized to be repurchased under the share repurchase program.

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