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Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule of Stock Based Compensation Expense and Related Tax Benefit | The following table presents total stock-based compensation expense and related tax benefit:
| Year Ended December 31,
(in millions) | 2024 |  | 2023 |  | 2022
Stock-based compensation expense | $ | 54 |  |  | $ | 48 |  |  | $ | 28 |
Tax benefit | 9 |  | 12 |  | 7
Schedule of Nonvested Restricted Stock Shares Activity | The following table provides a summary of activity with regard to restricted stock units (RSUs):
| Year Ended December 31, 2024
| Number of Shares |  | Weighted Average Grant Date Fair Value
Unvested at beginning of year | 5,057,980 |  | $ | 31.46 |
Granted | 5,280,114 |  | 10.23 |
Vested | (1,303,365) |  | 32.28 |
Forfeited | (1,413,398) |  | 28.28 |
Unvested at end of period | 7,621,331 |  | 17.20 |
Schedule of Share-Based Payment Arrangement, Performance Shares, Activity | The following table provides a summary of activity with regard to Performance-Based Restricted Stock Units (PSUs):
| Number of Shares |  | Weighted Average Grant Date Fair Value |  | Performance Period |  | Expected Vesting Date
Outstanding at beginning of year | 406,096 |  | $ | 29.85 |  |  | January 1, 2022 - December 31, 2025 |  | March 31, 2025 - 2026
Granted | — |  | — |  |  |  |  |
Released | — |  | — |  |  |  |  |
Forfeited | (361,428) |  | 30.21 |  |  |  |  |
Outstanding at end of period | 44,668 |  | 26.85 |  |  | January 1, 2022 - December 31, 2025 |  | March 31, 2025 - 2026
Schedule of Stock Options Granted | The following table summarizes the stock options granted and their respective vesting schedules:
(in thousands) |  | Year Ended December 31, 2024
Grant Date |  | Options Granted |  | Vest Date
March 6, 2024 |  | 5,000 |  | Quarterly through March 2027
March 6, 2024 |  | 1,333 |  | Fully vest on March 6, 2025
April 25, 2024 (1) |  | 3,000 |  | Annually through April 2027
June 21, 2024 |  | 1,000 |  | Annually through June 2027
July 24, 2024 |  | 1,000 |  | Annually through July 2027
July 29, 2024 |  | 1,000 |  | Annually through July 2027
July 29, 2024 |  | 1,000 |  | Annually through July 2027
Total |  | 13,333 |  |
(1) 1,000 of the options granted on April 25, 2024 are expected to be forfeit during Q1 2025.
Schedule of Share-Based Payment Arrangement, Option, Activity | The following table summarizes stock options activity for the period indicated:
(in thousands, except per share data) | Year Ended December 31, 2024
Stock Options | Number of Options |  | Weighted- Average Exercise Price per Share
Outstanding as of January 1, 2024 | — |  | $ | — |
Granted | 13,333,000 |  | 8.44 |
Vested | (1,250,000) |  | 6.00 |
Unvested at December 31, 2024 | 12,083,000 |  | 8.69 |
Exercisable at December 31, 2024 | 1,250,000 |  |

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