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Stock-Based Compensation
 3 Months Ended
Mar. 31, 2023
Stock-Based Compensation [Abstract]  
Stock-Based Compensation Note 8. Stock-Based Compensation

We recognized stock-based compensation expense of $5 million ($4 million, net of tax) and $6 million ($6 million, net of tax) for the three months ended March 31, 2023 and 2022, respectively. These costs are included in selling and administrative expenses in the accompanying condensed consolidated statements of operations and comprehensive income.

A summary of awards granted under the Omnibus Plan during the three months ended March 31, 2023 is as follows:

Weighted-

Weighted-

Weighted-

Number of

Average

Average

Average

Awards

Exercise

Grant Date

Vesting

Granted

Price

Fair Value

Period

Stock options

627,062

26.42

12.21

4.0

Performance options(1)

652,004

26.42

10.40

0.8

Restricted stock units

885,946

26.44

3.0

_____________________________

(1)The information related to performance options above assumes 100% of the performance target is met. The performance options contain a market condition that is based on a per share price target for our common stock, and the ultimate number of performance options that may be earned depends on the achievement of this market condition.

As of March 31, 2023, there was $60 million of total unrecognized compensation cost, net of estimated forfeitures, related to unvested stock options, performance options, restricted stock units (“RSUs”), performance shares and restricted stock awards (“RSAs”). These remaining costs are expected to be recognized over a weighted-average period of 3.1 years.