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Stock-Based Compensation Plans and Arrangements (Tables) | 12 Months Ended
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Dec. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule of Stock Option Activity | The following table summarizes stock option activity for the year ended December 31, 2024.
(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, 2023 | 1,066,197 |  |  | $ | 17.59 |  |  |  |  |
Granted | — |  |  | — |  |  |  |  |
Exercised(2)(3) | (65,668) |  |  | 17.65 |  |  |  |  |
Canceled | — |  |  | — |  |  |  |  |
Outstanding at December 31, 2024(4) | 1,000,529 |  |  | $ | 17.59 |  |  | 6.2 years |  | $ | 9,997 |
Exercisable at December 31, 2024 | 933,223 |  |  | $ | 17.65 |  |  | 6.1 years |  | $ | 9,267 |
(1)The aggregate intrinsic value represents the total intrinsic value (the aggregate difference between our closing stock price on December 31, 2024 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, 2024. (2)The total intrinsic value of the options exercised was $0.3 million for the year ended December 31, 2024. No options were exercised in the years ended December 31, 2023 and 2022. (3)Cash of $1 million was received from option exercises for the year ended December 31, 2024. The actual tax benefit realized for the tax deductions from option exercises totaled less than $1 million for the year ended December 31, 2024. (4)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, 2024.
(Shares and per share amounts in actuals) | Number of Shares |  | Weighted Average Grant Date Fair Value
Non-vested at December 31, 2023 | 83,479 |  |  | $ | 16.47 |
Granted | 77,759 |  |  | 20.51 |
Vested(1) | (83,479) |  |  | 16.47 |
Canceled | (7,069) |  |  | 20.51 |
Non-vested at December 31, 2024(2) | 70,690 |  |  | $ | 20.51 |
(1)The total fair value of shares that vested during the years ended December 31, 2024, 2023, and 2022 was $1 million, $1 million, and $1 million, respectively. (2)As of December 31, 2024, there was $0.7 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, 2024.
(Shares and per share amounts in actuals) | Number of RSUs/ PSUs |  | Weighted Average Grant Date Fair Value
Outstanding at December 31, 2023 | 4,346,994 |  |  | $ | 16.39 |
Granted | 2,061,763 |  |  | 20.22 |
Vested and converted to common stock(1) | (1,932,557) |  |  | 16.39 |
Canceled | (38,019) |  |  | 18.25 |
Outstanding at December 31, 2024(2) | 4,438,181 |  |  | $ | 18.16 |
(1)The total fair value of RSUs/PSUs that vested and converted to common stock during the years ended December 31, 2024, 2023, and 2022 was $32 million, $35 million, and $34 million, respectively. (2)As of December 31, 2024, there was $22 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) | 2024 |  | 2023 |  | 2022
Risk-free interest rate | 4.56 | % |  | 5.31 | % |  | 3.02 | %
Expected volatility | 27 | % |  | 38 | % |  | 39 | %
Expected dividend rate | 1.99 | % |  | 2.73 | % |  | 2.78 | %
Expected life of the option | 1 year |  | 1 year |  | 1 year
Weighted average fair value of stock purchase rights | $ | 5.07 |  |  | $ | 4.14 |  |  | $ | 4.17 |

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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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