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STOCK-BASED COMPENSATION PLANS (Tables) | 12 Months Ended
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Dec. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule of Shares Issued, Net of Shares from Canceled/Expired Options and Restricted Share Award Activity |
|  | Shares Granted |  | Conversion Rate |  | Total Shares Under 2019 Omnibus Plan
Non-Qualified Stock Options |  | 5,044,379 |  |  | 1.00 |  | 5,044,379 |
Restricted Stock |  | 5,290,546 |  |  | 4.06 |  | 21,479,617 |
Performance Shares |  | 1,019,645 |  |  | 4.06 |  | 4,139,758 |
Total |  | 11,354,570 |  |  |  |  | 30,663,754 |
A summary of restricted share award activity, including award grants, vesting, and forfeitures for the years ended December 31, 2024, 2023, and 2022, are presented in the table below:
| 2024 | 2023 | 2022
| Shares (000) |  | Shares (000) |  | Shares (000) |
Nonvested, Beginning of Year | 3,378 |  |  | 3,553 |  |  | 3,760 |  |
Granted | 1,189 |  |  | 1,027 |  |  | 949 |  |
Vested | (1,263) |  |  | (1,058) |  |  | (935) |  |
Forfeited | (130) |  |  | (144) |  |  | (221) |  |
Nonvested, End of Year | 3,174 |  |  | 3,378 |  |  | 3,553 |  |
Schedule of Weighted-Average Assumptions | The fair value of each option grant was estimated on the date of grant using the Black-Scholes option pricing model with the following weighted-average assumptions for the indicated periods:
| 2024 |  | 2023 |  | 2022
Dividend yield (1) | 1.6 | % |  | 1.7 | % |  | 1.8 | %
Expected volatility (2) | 28.0 | % |  | 28.8 | % |  | 28.8 | %
Risk-free interest rate (3) | 4.1 | % |  | 4.0 | % |  | 3.4 | %
Expected term of options (in years) (4) | 4.1 |  | 4.2 |  | 4.2
Weighted-average grant-date fair value | $ | 7.98 |  |  | $ | 7.66 |  |  | $ | 6.42 |
(1) Represents the Company's estimated cash dividend yield over the expected term of option grant. (2) Amount is determined based on analysis of historical price volatility of the Company's common stock. The expected volatility is based on the daily percentage change in the price of the stock over a period equal to the expected term of the option grant. (3) Represents the U.S. Treasury yield over the expected term of the option grant. (4) Represents the period of time that options granted are expected to be outstanding. Based on analysis of historical option exercise activity, the Company has determined that all employee groups exhibit similar exercise and post-vesting termination behavior.
Schedule of Stock Option Activity | A summary of the status of the Company’s stock option plans at December 31, 2024, 2023 and 2022, and changes during the same periods are presented in the tables below.
| 2024
| Shares (000) |  | Wtd. Avg. Ex. Price |  | Wtd. Avg. Remaining Contract Life |  | Aggregate Intrinsic Value (000)
Outstanding at Beginning of Year | 4,387 |  |  | $ | 29 |  |  |  |  |
Granted | 292 |  |  | 32 |  |  |  |  |
Exercised | (784) |  |  | 27 |  |  |  |  | $ | 5,714 |
Forfeited | (157) |  |  | 29 |  |  |  |  |
Outstanding at End of Year | 3,738 |  |  | 30 |  |  | 2.4 years |  | $ | 4,784 |
Exercisable at End of Year | 2,104 |  |  | $ | 29 |  |  | 1.8 years |  | $ | 3,625 |
| 2023
| Shares (000) |  | Wtd. Avg. Ex. Price |  | Wtd. Avg. Remaining Contract Life |  | Aggregate Intrinsic Value (000)
Outstanding at Beginning of Year | 4,872 |  |  | $ | 28 |  |  |  |  |
Granted | 768 |  |  | 30 |  |  |  |  |
Exercised | (1,023) |  |  | 31 |  |  |  |  | $ | 7,847 |
Forfeited | (230) |  |  | 29 |  |  |  |  |
Outstanding at End of Year | 4,387 |  |  | 29 |  |  | 2.9 years |  | $ | 17,491 |
Exercisable at End of Year | 1,942 |  |  | $ | 29 |  |  | 2.3 years |  | $ | 8,916 |
| 2022
| Shares (000) |  | Wtd. Avg. Ex. Price |  | Wtd. Avg. Remaining Contract Life |  | Aggregate Intrinsic Value (000)
Outstanding at Beginning of Year | 4,535 |  |  | $ | 27 |  |  |  |  |
Granted | 1,219 |  |  | 27 |  |  |  |  |
Exercised | (530) |  |  | 21 |  |  |  |  | $ | 4,065 |
Forfeited | (352) |  |  | 28 |  |  |  |  |
Outstanding at End of Year | 4,872 |  |  | 28 |  |  | 3.1 years |  | $ | 8,928 |
Exercisable at End of Year | 1,960 |  |  | $ | 26 |  |  | 2.4 years |  | $ | 5,864 |
Schedule of Non-Vested Stock Option Activity | A summary of the status of the Company’s non-vested employee stock option activity for the years ended December 31, 2024, 2023, and 2022, are presented in the table below:
| 2024 |  | 2023 |  | 2022
| Shares (000) |  | Wtd. Avg Grant Date Fair Value |  | Shares (000) |  | Wtd. Avg Grant Date Fair Value |  | Shares (000) |  | Wtd. Avg Grant Date Fair Value
Nonvested Stock Options at Beginning of Year | 2,445 |  |  | $ | 7 |  |  | 2,913 |  |  | $ | 6 |  |  | 3,156 |  |  | $ | 5 |
Granted | 293 |  |  | 8 |  |  | 768 |  |  | 8 |  |  | 1,219 |  |  | 6 |
Vested | (1,013) |  |  | 6 |  |  | (1,056) |  |  | 6 |  |  | (1,153) |  |  | 4 |
Forfeited | (91) |  |  | 7 |  |  | (180) |  |  | 6 |  |  | (309) |  |  | 6 |
Nonvested Stock Options at End of Year | 1,634 |  |  | $ | 7 |  |  | 2,445 |  |  | $ | 7 |  |  | 2,913 |  |  | $ | 6 |
Schedule of Restricted Shares |
| 2024 |  | 2023 |  | 2022
Vesting Period(1) | Shares Granted |  | Market Price at Grant Date |  | Shares Granted |  | Market Price at Grant Date |  | Shares Granted |  | Market Price at Grant Date
1 Year | 154,023 |  |  | 28.73 - 36.12 |  | 142,314 |  |  | 28.03 - 32.66 |  | 119,849 |  |  | 23.84 - 29.89
2 Year | 127,778 |  |  | 28.73 - 36.12 |  | 104,562 |  |  | 28.03 - 32.66 |  | 82,538 |  |  | 23.84 - 29.17
3 Years | 360,782 |  |  | 28.73 - 36.12 |  | 302,569 |  |  | 28.03 - 32.66 |  | 261,493 |  |  | 23.84 - 30.85
4 Years | 303,563 |  |  | 28.73 - 36.12 |  | 265,719 |  |  | 28.03 - 32.66 |  | 260,149 |  |  | 23.84 - 29.17
5 Years | 213,720 |  |  | 28.73 - 36.12 |  | 184,900 |  |  | 28.03 - 32.66 |  | 225,060 |  |  | 23.84 - 29.17
| 1,159,866 |  |  | $28.73 - 36.12 |  | 1,000,064 |  |  | $28.03 - 32.66 |  | 949,089 |  |  | $23.84 - 30.85
(1) Each of these awards cliff vest after the restriction period with no additional restrictions. |  |
Schedule of Employee Stock Purchase Plan | The following table summarizes shares sold to employees under the 2022 and prior plan in the years ended December 31, 2024, 2023, and 2022:
Plan | 2024 |  | 2023 |  | 2022 | Cumulative Shares Issued | Weighted Average Fair Value 2024
2022 Employee Stock Purchase Plan | 201,032 |  |  | 194,241 |  |  | 94,111 |  | 489,384 |  | $ | 31.98 |
Prior Employee Stock Purchase Plan | — |  |  | — |  |  | 126,101 |  | 1,624,122 |  | $ | — |

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