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Common Stock (Tables) | 12 Months Ended
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Dec. 31, 2024
Equity [Abstract] |
Summary of Stock Options Activity | The following summarizes options activity:
|  | Year Ended December 31, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
|  | Number |  |  | Average |  |  | Number |  |  | Average |  |  | Number |  |  | Average |
|  | of |  |  | Exercise |  |  | of |  |  | Exercise |  |  | of |  |  | Exercise |
|  | Shares |  |  | Price |  |  | Shares |  |  | Price |  |  | Shares |  |  | Price |
Shares under option at beginning of year |  |  | 19,975,103 |  |  | $ | 36.25 |  |  |  | 21,080,388 |  |  | $ | 38.68 |  |  |  | 21,276,961 |  |  | $ | 42.09 |
Granted |  |  | 1,110,478 |  |  |  | 17.52 |  |  |  | 1,014,002 |  |  |  | 21.76 |  |  |  | 1,492,020 |  |  |  | 16.73 |
Forfeited |  |  | (2,743,698 | ) |  |  | 56.16 |  |  |  | (1,908,768 | ) |  |  | 57.61 |  |  |  | (1,574,642 | ) |  |  | 65.44 |
Exercised |  |  | (206,386 | ) |  |  | 16.87 |  |  |  | (210,519 | ) |  |  | 16.68 |  |  |  | (113,951 | ) |  |  | 17.77 |
Shares under option at end of year |  |  | 18,135,497 |  |  | $ | 32.31 |  |  |  | 19,975,103 |  |  | $ | 36.25 |  |  |  | 21,080,388 |  |  | $ | 38.68 |
Exercisable at end of year |  |  | 15,911,560 |  |  | $ | 34.23 |  |  |  | 17,437,459 |  |  | $ | 38.85 |  |  |  | 17,988,842 |  |  | $ | 42.46 |
Summary of Stock Option Outstanding Information | The following summarizes information about stock options outstanding at December 31, 2024:
|  | Weighted-Avg |  |  | Options Outstanding |  |  | Options Exercisable |
|  | Remaining |  |  |  |  |  | Weighted-Avg |  |  |  |  |  | Weighted-Avg |
Range of Exercise Price |  | Contractual Life |  |  | Shares |  |  | Exercise Price |  |  | Shares |  |  | Exercise Price |
$15.00 - $30.00 |  |  | 5.60 |  |  |  | 8,906,198 |  |  | $ | 21.24 |  |  |  | 6,682,261 |  |  | $ | 22.13 |
$30.01 - $50.00 |  |  | 1.97 |  |  |  | 5,856,046 |  |  |  | 36.22 |  |  |  | 5,856,046 |  |  |  | 36.22 |
$50.01 - $54.74 |  |  | 0.15 |  |  |  | 3,373,253 |  |  |  | 54.74 |  |  |  | 3,373,253 |  |  |  | 54.74 |
Total |  |  | 3.41 |  |  |  | 18,135,497 |  |  | $ | 32.31 |  |  |  | 15,911,560 |  |  | $ | 34.23 |
Assumption Used in Determination of Fair Value of Share Based Payment Awards | The use of the Black Scholes model requires the use of actual employee exercise activity data and the use of a number of complex assumptions including expected volatility, risk-free interest rate, expected dividends and expected term.
|  | Year Ended December 31, |
Valuation Assumptions: |  | 2024 |  |  | 2023 |  |  | 2022 |
Expected volatility |  |  | 46.8 | % |  |  | 45.7 | % |  |  | 43.6 | %
Risk-free interest rate |  |  | 4.0 | % |  |  | 4.1 | % |  |  | 1.9 | %
Expected dividend yield |  |  | 1.1 | % |  |  | 0.9 | % |  |  | 1.2 | %
Expected term (in years) |  |  | 6.0 |  |  |  | 5.8 |  |  |  | 5.4 |
Summary of Information Regarding Outstanding SARs | The following summary presents information regarding outstanding SARs:
|  | Year Ended December 31, |
|  | 2024 |  |  | 2023 |
|  | Number |  |  | Average |  |  | Number |  |  | Average |
|  | of |  |  | Exercise |  |  | of |  |  | Exercise |
|  | Shares |  |  | Price |  |  | Shares |  |  | Price |
Shares under SARs at beginning of year |  |  | 1,056,805 |  |  | $ | 28.37 |  |  |  | 1,105,106 |  |  | $ | 28.39 |
Granted |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Forfeited |  |  | (35,248 | ) |  |  | 28.64 |  |  |  | (48,301 | ) |  |  | 28.83 |
Exercised |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Shares under SARs at end of year |  |  | 1,021,557 |  |  | $ | 28.36 |  |  |  | 1,056,805 |  |  | $ | 28.37 |
Exercisable at end of year |  |  | 1,021,557 |  |  | $ | 28.36 |  |  |  | 1,056,805 |  |  | $ | 28.37 |
Summary of Information Regarding Outstanding Restricted Shares | The following summary presents information regarding outstanding restricted shares:
| Year Ended December 31, |
| 2024 |  |  | 2023 |  |  | 2022 |
|  |  |  | Weighted- |  |  |  |  |  | Weighted- |  |  |  |  |  | Weighted- |
| Number |  |  | Average |  |  | Number |  |  | Average |  |  | Number |  |  | Average |
| of |  |  | Grant Date |  |  | of |  |  | Grant Date |  |  | of |  |  | Grant Date |
| Units |  |  | Fair Value |  |  | Units |  |  | Fair Value |  |  | Units |  |  | Fair Value |
Nonvested at beginning of year |  | 6,615,478 |  |  | $ | 19.86 |  |  |  | 7,188,183 |  |  | $ | 18.30 |  |  |  | 6,936,574 |  |  | $ | 21.32 |
Granted |  | 3,204,434 |  |  |  | 17.96 |  |  |  | 2,792,465 |  |  |  | 22.70 |  |  |  | 3,509,425 |  |  |  | 17.67 |
Vested |  | (3,068,811 | ) |  |  | 17.46 |  |  |  | (3,045,126 | ) |  |  | 21.77 |  |  |  | (2,863,385 | ) |  |  | 17.11 |
Forfeited |  | (312,828 | ) |  |  | 20.29 |  |  |  | (320,044 | ) |  |  | 23.89 |  |  |  | (394,431 | ) |  |  | 26.00 |
Nonvested at end of year |  | 6,438,273 |  |  | $ | 19.76 |  |  |  | 6,615,478 |  |  | $ | 19.86 |  |  |  | 7,188,183 |  |  | $ | 18.30 |

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- Definition Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for stock appreciation rights awards that were outstanding at the beginning and end of the year, and the number of stock appreciation rights awards that were granted, exercised or converted, forfeited, and expired during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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