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Stock-Based Compensation | 6 Months Ended
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Jun. 30, 2023
Stock-Based Compensation [Abstract] |
Stock-Based Compensation | Note 9. Stock-Based Compensation We recognized stock-based compensation expense of $8 million ($7 million, net of tax) and $6 million ($4 million, net of tax) for the three months ended June 30, 2023 and 2022, respectively, and $13 million ($11 million, net of tax) and $12 million ($10 million, net of tax) for the six months ended June 30, 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 six months ended June 30, 2023 is as follows:
|  |  |  | Weighted- |  | Weighted- |  | Weighted-
|  | Number of |  | Average |  | Average |  | Average
|  | Awards |  | Exercise |  | Grant Date |  | Vesting
|  | Granted |  | Price |  | Fair Value |  | Period
Stock options |  | 661,231 |  | 26.67 |  | 12.49 |  | 4.0
Performance options(1) |  | 652,004 |  | 26.42 |  | 10.40 |  | 4.0
Restricted stock units |  | 916,422 |  |  |  | 26.58 |  | 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 June 30, 2023, there was $49 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 2.95 years.

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