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SHARE-BASED COMPENSATION (Tables) | 12 Months Ended
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Dec. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule of Restricted Stock Unit Grants | The following table provides information about our Service RSU grants for the last three fiscal years:
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Number of shares granted | 717,858 |  |  | 537,964 |  |  | 800,378 |
Weighted average grant date fair value per share | $ | 44.00 |  |  | $ | 48.60 |  |  | $ | 44.12 |
Fair value of shares vested (in millions) | $ | 26 |  |  | $ | 23 |  |  | $ | 25 |
Schedule of Restricted Stock Units Activity | The following table summarizes the activity of our RSUs during the year ended December 31, 2024:
| Number of Shares |  | Weighted Average Grant Date Fair Value
Outstanding, beginning of period | 1,144,853 |  |  | 45.21 |
Granted | 717,858 |  |  | 44.00 |
Vested | (588,583) |  |  | 43.64 |
Forfeited | (47,747) |  |  | 45.47 |
Outstanding, end of period | 1,226,381 |  |  | 45.24 |
Schedule of Stock Option Grants | The following table provides information about our option grants for the last three fiscal years:
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Number of options granted | 388,084 |  |  | 301,215 |  |  | 389,536 |
Weighted average exercise price per share | $ | 44.45 |  |  | $ | 49.14 |  |  | $ | 44.09 |
Weighted average grant date fair value per share | $ | 22.63 |  |  | $ | 24.78 |  |  | $ | 20.08 |
Schedule of Stock Option Valuation Assumptions | The weighted-average grant date fair value of each of these options were determined using the Black-Scholes-Merton option-pricing model with the following assumptions: expected volatility is calculated using the historical volatility of our share price; risk-free rate is based on the Treasury Constant Maturity Rate closest to the expected life as of the grant date; and expected term is estimated using the vesting period and contractual term of the Options:
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Expected volatility | 47.7 | % |  | 46.8 | % |  | 45.8 | %
Dividend yield(1) | — | % |  | — | % |  | — | %
Risk-free rate | 4.1% - 4.3% |  | 4.2 | % |  | 1.7 | %
Expected term (in years) | 6.0 |  | 6.0 |  | 6.0
(1)At the date of grant we had no plans to pay dividends during the expected term of these options.
Schedule of Stock Options Activity | The following table summarizes the activity of our options during the year ended December 31, 2024:
| Number of Shares |  | Weighted Average Exercise Price Per Share
Outstanding, beginning of period | 2,417,718 |  |  | $ | 36.65 |
Granted | 388,084 |  |  | 44.45 |
Exercised | (205,463) |  |  | 30.38 |
Forfeited, canceled or expired | (23,361) |  |  | 45.45 |
Outstanding, end of period | 2,576,978 |  |  | 38.24 |
Exercisable, end of period | 1,885,026 |  |  | 35.51 |
Schedule Of Performance Stock Unit Grants | The following table provides information about our Performance RSU grants for the last three fiscal years:
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Number of shares granted | 432,286 |  |  | 119,887 |  |  | 93,064 |
Weighted average grant date fair value per share | $ | 44.40 |  |  | $ | 49.14 |  |  | $ | 44.09 |
Fair value of shares vested (in millions) | $ | 29 |  |  | $ | 8 |  |  | $ | — |
Schedule of Performance Stock Units Activity | The following table summarizes the activity of our Performance RSUs during the year ended December 31, 2024:
| Number of Shares |  | Weighted Average Grant Date Fair Value
Outstanding, beginning of period | 560,167 |  |  | $ | 42.77 |
Granted | 432,286 |  |  | 44.40 |
Performance achievement shares adjustment (1) | 272,160 |  |  | 40.96 |
Vested | (714,604) |  |  | 41.03 |
Forfeited, canceled or expired | — |  |  | — |
Outstanding, end of period | 550,009 |  |  | 45.41 |
(1)Reflects the number of shares achieved above target, based on actual performance as determined at the completion of the performance period for the August 2021 and March 2022 Performance RSU grants

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