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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 compensation cost for share-based payment arrangements, allocation of share-based compensation costs by plan | The following table details our share-based compensation expense related to award grants to our officers, directors, and employees. We recognized $7 million, $7 million, and $6 million of tax benefits associated with share-based compensation during 2024, 2023, and 2022, respectively.
($ in millions) | 2024 |  | 2023 |  | 2022
Service-based RSUs | $ | 30 |  |  | $ | 29 |  |  | $ | 31 |
Performance-based RSUs | — |  |  | — |  |  | 3 |
| 30 |  |  | 29 |  |  | 34 |
SARs | 3 |  |  | 2 |  |  | 5 |
| $ | 33 |  |  | $ | 31 |  |  | $ | 39 |
Schedule of unrecognized compensation cost, unvested awards | The following table details our deferred compensation costs related to unvested awards:
($ in millions) | At Year-End 2024(1) |  | At Year-End 2023
Service-based RSUs | $ | 24 |  |  | $ | 22 |
Performance-based RSUs | 5 |  |  | 1 |
| 29 |  |  | 23 |
SARs | 1 |  |  | 1 |
| $ | 30 |  |  | $ | 24 |
(1)As of December 31, 2024, the weighted average remaining term for RSU grants outstanding at year-end 2024 was one to three years and we expect that deferred compensation expense will be recognized over a weighted average period of one to three years.
Schedule of outstanding RSUs and the associated weighted average grant-date fair values | The following table shows the changes in our outstanding RSUs and the associated weighted average grant-date fair values:
| 2024
| Service-based |  | Performance-based |  | Total
| Number of RSUs |  | Weighted Average Grant-Date Fair Value Per RSU |  | Number of RSUs |  | Weighted Average Grant-Date Fair Value Per RSU |  | Number of RSUs |  | Weighted Average Grant-Date Fair Value Per RSU
Outstanding at year-end 2023 | 655,114 |  | $ | 123.91 |  |  | 192,724 |  | $ | 148.29 |  |  | 847,838 |  | $ | 129.45 |
Granted | 403,071 |  | $ | 87.54 |  |  | 204,020 |  | $ | 85.12 |  |  | 607,091 |  | $ | 86.73 |
Distributed | (249,097) |  | $ | 134.08 |  |  | — |  | $ | — |  |  | (249,097) |  | $ | 134.08 |
Forfeited | (25,561) |  | $ | 107.54 |  |  | (20,912) |  | $ | 109.86 |  |  | (46,473) |  | $ | 108.59 |
Outstanding at year-end 2024 | 783,527 |  | $ | 102.50 |  |  | 375,832 |  | $ | 116.13 |  |  | 1,159,359 |  | $ | 106.92 |
Schedule of outstanding SARs and the associated weighted average exercise prices | The following table shows the changes in our outstanding SARs and the associated weighted average exercise prices:
| 2024
| Number of SARs |  | Weighted Average Exercise Price Per SAR
Outstanding at year-end 2023 | 720,028 |  | $ | 116.56 |
Granted | 86,759 |  |  | $ | 93.73 |
Exercised | (45,022) |  |  | $ | 73.65 |
Forfeited or expired | (3,036) |  |  | $ | 93.73 |
Outstanding at year-end 2024(1)(2) | 758,729 |  | $ | 116.59 |
(1)As of December 31, 2024, outstanding SARs had an aggregate intrinsic value of $3 million and a weighted average remaining term of 5 years. (2)As of December 31, 2024, 580,534 SARs with a weighted average exercise price of $112.42, an aggregate intrinsic value of $3 million and a weighted average remaining contractual term of 4 years were exercisable.
Assumptions used to estimate fair value of grants | The following table outlines the assumptions used to estimate the fair value of grants in 2024, 2023, and 2022:
| 2024 |  | 2023 |  | 2022
Expected volatility | 45.78% |  | 40.47% |  | 42.86%
Dividend yield | 3.21% |  | 1.87% |  | 1.53%
Risk-free rate | 4.23% |  | 4.07% |  | 1.77%
Expected term (in years) | 6.25 |  | 6.25 |  | 6.25

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