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Stock-Based Compensation | 9 Months Ended
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Sep. 30, 2025
Share-Based Payment Arrangement [Abstract] |
Stock-Based Compensation | Stock-Based Compensation Our executive and director stock-based compensation plans are described more fully in the 2024 10-K. Equity Awards Performance-based award units totaling 278,193 and 272,844 were awarded to most officers, including all Section 16 officers, during the 2025 and 2024 Periods, respectively. These awards generally cliff vest after 3 years and contain annual performance conditions for each of the 3 years of the vesting period. Under GAAP, performance-based elements of such awards are not deemed granted until the performance targets have been established. The performance targets for each year are generally established in the first quarter. For awards granted under the 2025 performance award plan, 70% of the award is earned based on achievement of earnings before taxes targets over three 1-year periods and 30% of the award is earned based on our 3-year cumulative TSR relative to companies in the S&P 500 on the date of the award. For awards granted under the 2024 and 2023 performance award plan, 80% of the award is earned based on achievement of earnings before taxes targets over three 1-year periods and 20% of the award is earned based on our 3-year cumulative TSR relative to companies in the S&P 500 on the date of the award. The performance component of these awards is deemed granted when targets are set while the TSR component of these awards is deemed granted upon issuance. During the 2025 Period, the following units were granted based upon the establishment of performance targets:
| Performance-based Award Units Granted in 2025 | Weighted Average Grant Date Fair Value Per Share
2025 Performance Award Plan | 140,597 | $37.07
2024 Performance Award Plan | 68,794 | $39.75
2023 Performance Award Plan | 69,169 | $39.99
For awards granted under these performance award plans, the number of units are adjusted at the end of each performance period based on attainment of certain performance targets and on market conditions, pursuant to the terms of the award agreements. As of September 30, 2025, there were 191,810 shares associated with performance awards that had been awarded to employees, but which are not deemed granted due to the underlying performance targets having not yet been established. Liability Awards SGI awards granted to executives vest and become payable at a rate of 1/3 of the total award each year. Performance-based awards were awarded to non-Section 16 executives and will be settled in cash on a single date each year.
| Location in Statement of Operations | 3ME September 30, |  | 9ME September 30,
(in millions) | 2025 |  | 2024 |  | 2025 |  | 2024
SGI awards | G&A | $ | (1) |  |  | $ | 10 |  |  | $ | 8 |  |  | $ | 22 |
Performance-based awards for non-Section 16 executives | G&A | 2 |  |  | (3) |  |  | 4 |  |  | 7 |
Liabilities (in millions) | Location on Balance Sheet | September 30, 2025 |  | December 31, 2024
SGI awards | Accrued salaries, wages and benefits and other noncurrent liabilities | $ | 27 |  |  | $ | 51 |
Performance-based awards for non-Section 16 executives | Accrued salaries, wages and benefits and other noncurrent liabilities | 21 |  |  | 30 |

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