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Share-based Incentive Compensation Plans (Tables) | 6 Months Ended
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Jun. 30, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule of Share-based Compensation Expense | The following table summarizes share-based compensation expense, which includes expenses related to awards granted under the Omnibus Plans for the periods indicated:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Restricted Stock Unit (RSU) awards | $ | 13 |  |  | $ | 16 |  |  | $ | 36 |  |  | $ | 53 |
Performance Stock Unit (PSU) awards | 10 |  |  | 10 |  |  | 26 |  |  | 36 |
Total share-based compensation expense | 23 |  |  | 26 |  |  | 62 |  |  | 89 |
Income tax benefit | 6 |  |  | 7 |  |  | 16 |  |  | 22 |
After-tax share-based compensation expense | $ | 17 |  |  | $ | 19 |  |  | $ | 46 |  |  | $ | 67 |
Schedule of Share-based Compensation, Activity | The following table summarizes RSU and PSU awards activity under the Omnibus Plans for the periods indicated:
| RSU Awards |  |  |  | PSU Awards |  |
(awards in millions) | Number of Awards |  | Weighted Average Grant Date Fair Value |  |  |  |  |  | Number of Awards |  | Weighted Average Grant Date Fair Value |  |  |  |
Outstanding as of January 1, 2024 | 2.0 |  |  | $ | 67.06 |  |  |  |  |  |  | 2.2 |  |  | $ | 61.17 |  |  |  |  |
Adjustment for PSU performance factor | — |  |  | — |  |  |  |  |  |  | (0.1) |  |  | 46.94 |  |  |  |  |
Granted | 0.8 |  |  | 67.64 |  |  |  |  |  |  | 0.7 |  |  | 59.21 |  |  |  |  |
Vested | (0.8) |  |  | 64.87 |  |  |  |  |  |  | (0.6) |  |  | 53.55 |  |  |  |  |
Forfeited | — |  | * | 69.40 |  |  |  |  |  |  | — |  | * | 70.34 |  |  |  |  |
Outstanding as of June 30, 2024 | 2.0 |  |  | $ | 68.02 |  |  |  |  |  |  | 2.2 |  |  | $ | 63.44 |  |  |  |  |
*Less than 0.1
Schedule of Share-based Compensation, Stock Options, Activity | The following table summarizes the number of options under the Omnibus Plans for the periods indicated:
| Stock Options |  |  |  |
(awards in millions) | Number of Awards |  | Weighted Average Exercise Price |  |  |  |
Outstanding as of January 1, 2024 | 1.2 |  |  | $ | 44.79 |  |  |  |  |
Granted | — |  |  | — |  |  |  |  |
Exercised | (0.2) |  |  | 43.18 |  |  |  |  |
Forfeited | — |  |  | 50.03 |  |  |  |  |
Outstanding as of June 30, 2024 | 1.0 |  |  | $ | 45.11 |  |  |  |  |
Vested, exercisable, as of June 30, 2024 | 1.0 |  |  | $ | 45.11 |  |  |  |  |

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