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STOCK BASED COMPENSATION (Tables) | 12 Months Ended
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Dec. 31, 2023
Share-Based Payment Arrangement [Abstract] |
Schedule of Stock Option Activity Under Equity-Based Plans | The following table summarizes stock option activity for the year ended December 31, 2023:
| Number of Shares | Weighted Average Exercise Price | Weighted Average Remaining Contractual Term (in years) | Aggregate Intrinsic Value (in millions)
Balance at December 31, 2022 | 190,275 |  | $ | 20.50 |  | 1.5 | $ | 9 |
Exercised | (182,067) |  | 20.50 |  |  | 14 |
Balance at December 31, 2023 (1) | 8,208 |  | $ | 19.50 |  | 0.45 | $ | 1 |
(1) All options are vested and exercisable.
Schedule of Additional Disclosure for Stock Options |
| Year Ended December 31,
Additional Disclosures for Stock Options (in millions) | 2023 | 2022 | 2021
Total intrinsic value of options exercised | 14 |  | 8 |  | 6 |
Cash received from options exercised | 4 |  | 1 |  | 1 |
Schedule of RSU and RSA Activity Under Equity-Based Plans | The following tables summarize RSU activity for the year ended December 31, 2023: Time-based RSUs
| Total Number of RSUs |  |  | Weighted-Average Grant Date Fair Value
Nonvested at December 31, 2022 | 1,198,561 |  |  |  | $ | 80.75 |
Granted | 769,286 |  |  |  | 78.27 |
Vested | (617,937) |  |  |  | 76.25 |
Forfeited | (120,708) |  |  |  | 82.58 |
Nonvested at December 31, 2023 | 1,229,202 |  |  |  | $ | 80.88 |
| Year Ended December 31,
Additional Disclosures for equity-based plans | 2023 | 2022 | 2021
Total grant date fair value of shares granted (in millions) | $ | 60 |  | $ | 85 |  | $ | 47 |
Total grant date fair value of shares vested (in millions) | $ | 47 |  | $ | 42 |  | $ | 34 |
Shares withheld to settle payroll tax liabilities related to vesting of shares held by employees | 213,569 |  | 204,191 |  | 207,603 |
Performance-based RSUs
|  | Total Number Shares | Weighted-Average Grant Date Fair Value
Nonvested at December 31, 2022 |  | 202,586 |  | $ | 86.82 |
Granted |  | 177,067 |  | 79.05 |
Vested |  | (156,642) |  | 86.22 |
Nonvested at December 31, 2023 |  | 223,011 |  | $ | 81.08 |
Schedule of Additional Disclosures for Equity-Based Plans |
| Year Ended December 31,
Additional Disclosures for equity-based plans | 2023 | 2022 | 2021
Total grant date fair value of shares granted (in millions) (1) | $ | 14 |  | $ | 20 |  | $ | 16 |
Total grant date fair value of shares vested (in millions) | $ | 14 |  | $ | 17 |  | $ | 8 |
Shares withheld to settle payroll tax liabilities related to vesting of shares held by employees | 74,923 |  | 119,901 |  | 77,787 |
(1) Amount includes fair value of finalized additional grant related to the most recently ended performance period.
Schedule of Weighted-Average Assumptions Used to Estimate Fair Value of Stock Options | In applying the Black Scholes option valuation model for the ESPP options, we use the following assumptions:
| Year Ended December 31,
(in millions) | 2023 | 2022 | 2021
Expected Term (in Years) | 0.5 | 0.5 | 0.5
Expected Volatility | 29-35% | 21-39% | 21-35%
Risk-Free Interest Rate | 5.3-5.4% | 0.7-4.5% | 0.4-0.7%
Expected Dividend Yield | 0 | % | 0 | % | 0 | %
Shares Issued under ESPP | 175,446 |  | 158,134 |  | 136,861 |
Schedule of Stock-based Compensation Expense | Stock based compensation expense and other disclosures for stock based awards made to our employees pursuant to the equity plans were as follows:
| Year Ended December 31,
(in millions) | 2023 | 2022 | 2021
Cost of providing services | $ | 14 |  | $ | 13 |  | $ | 12 |
Sales and marketing | 8 |  | 7 |  | 6 |
General and administrative | 33 |  | 38 |  | 29 |
Systems development and programming costs | 4 |  | 4 |  | 3 |
Total stock based compensation expense | $ | 59 |  | $ | 62 |  | $ | 50 |
Total stock based compensation capitalized | $ | 3 |  | $ | 1 |  | $ | 1 |
Income tax benefit related to stock based compensation expense | $ | 13 |  | $ | 13 |  | $ | 10 |
Tax benefit realized | $ | 19 |  | $ | 14 |  | $ | 16 |
The table below summarizes unrecognized compensation expense for the year ended December 31, 2023 associated with the following:
| Amount (in millions) | Weighted-Average Period (in Years)
Nonvested time based RSUs | $ | 92 |  | 2.47
Nonvested performance based RSUs | 10 |  | 1.66

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