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Stock-Based Compensation Plans and Arrangements (Tables) | 12 Months Ended
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Dec. 31, 2023
Share-Based Payment Arrangement [Abstract] |
Schedule of Stock Option Activity | The following table summarizes stock option activity for the year ended December 31, 2023.
(Dollars in thousands, shares and per share amounts in actuals) | Number of Options |  | Weighted Average Exercise Price per Share |  | Weighted Average Remaining Contractual Term |  | Aggregate Intrinsic Value(1)
Outstanding at December 31, 2022 | 1,066,197 |  |  | $ | 17.59 |  |  |  |  |
Granted | — |  |  | — |  |  |  |  |
Exercised(2) | — |  |  | — |  |  |  |  |
Canceled | — |  |  | — |  |  |  |  |
Outstanding at December 31, 2023(3) | 1,066,197 |  |  | $ | 17.59 |  |  | 0.2 years |  | $ | 1,629 |
Exercisable at December 31, 2023 | — |  |  | $ | — |  |  | — |  |  | $ | — |
(1)The aggregate intrinsic value represents the total intrinsic value (the aggregate difference between our closing stock price on December 31, 2023 and the exercise price of in-the-money options) that would have been received by the option holders if all in-the-money options had been exercised on December 31, 2023. (2)No options were exercised in the years ended December 31, 2023 and 2022. The total intrinsic value of options exercised was $2 million for the year ended December 31, 2021. (3)For net-settled options, gross number is reflected.
Schedule of Restricted Stock Activity | The following table summarizes restricted stock activity for the year ended December 31, 2023.
(Shares and per share amounts in actuals) | Number of Shares |  | Weighted Average Grant Date Fair Value
Non-vested at December 31, 2022 | 79,710 |  |  | $ | 15.68 |
Granted | 83,479 |  |  | 16.47 |
Vested(1) | (79,710) |  |  | 15.68 |
Canceled | — |  |  | — |
Non-vested at December 31, 2023(2) | 83,479 |  |  | $ | 16.47 |
(1)The total fair value of shares that vested during the years ended December 31, 2023, 2022, and 2021 was $1 million, $1 million, and $1 million, respectively. (2)As of December 31, 2023, there was $0.6 million of unrecognized compensation cost related to restricted stock, which is expected to be recognized over a weighted average period of 0.5 years.
Schedule of Restricted Stock Unit and Performance Stock Unit Activity | The following table summarizes RSU and PSU activity for the year ended December 31, 2023.
(Shares and per share amounts in actuals) | Number of RSUs/ PSUs |  | Weighted Average Grant Date Fair Value
Outstanding at December 31, 2022 | 4,248,945 |  |  | $ | 15.44 |
Granted | 2,932,239 |  |  | 14.30 |
Vested and converted to common stock(1) | (2,746,671) |  |  | 12.68 |
Canceled | (87,519) |  |  | 16.63 |
Outstanding at December 31, 2023(2) | 4,346,994 |  |  | $ | 16.39 |
(1)The total fair value of RSUs/PSUs that vested and converted to common stock during the years ended December 31, 2023, 2022, and 2021 was $35 million, $34 million, and $31 million, respectively. (2)As of December 31, 2023, there was $21 million of unrecognized compensation cost related to RSUs/PSUs, which is expected to be recognized over a weighted average period of 1.5 years.
Summary of Black-Scholes Model Assumptions for Calculating ESPP Fair Values | The fair values of the stock purchase rights of the ESPP offerings were calculated using a Black-Scholes option pricing model with the following weighted average assumptions:
Years ended December 31, (per share amounts in actuals) | 2023 |  | 2022 |  | 2021
Risk-free interest rate | 5.31 | % |  | 3.02 | % |  | 0.07 | %
Expected volatility | 38 | % |  | 39 | % |  | 34 | %
Expected dividend rate | 2.73 | % |  | 2.78 | % |  | 0.66 | %
Expected life of the option | 1 year |  | 1 year |  | 1 year
Weighted average fair value of stock purchase rights | $ | 4.14 |  |  | $ | 4.17 |  |  | $ | 4.93 |

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- 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 -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -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
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of employee stock purchase plans, including, but not limited to: (a) expected term, (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
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