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Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Changes In Stock Options

The following table summarizes the changes in the number of shares of common stock for 2023 (shares and aggregate intrinsic value in millions):

			Shares						Weighted Average Exercise Price Per Share						Weighted Average Remaining Life (in years)						Aggregate Intrinsic Value
Outstanding at December 31, 2022			6.5						$	23
Granted			0.5						13
Exercised			—						—
Forfeited			(0.4)						24
Outstanding at December 31, 2023			6.6						$	22					6.9						$0
Options exercisable, end of year			4.2						$	21					6.4						$0

Schedule of Weighted Average Assumptions Used to Determined the Fair Value of Stock Options Granted

The weighted average assumptions used to determine the fair value of stock options granted for the years ended December 31, are as follows:

			2023						2022
Expected life in years			7						6
Risk-free interest rate			3.6		%				1.9		%
Expected volatility			42.1		%				42.0		%
Expected dividend yield			4.4		%				5.1		%

Schedule of Changes of Restricted Stock and Restricted Stock Units

The following table summarizes the changes in the number of outstanding restricted stock units for 2023 (shares in millions):

			Restricted Stock Unit						Weighted Average Grant Date Fair Value Per Share
Outstanding at December 31, 2022			4.5						$	24
Granted			10.5						11
Grant adjustment (1)			(0.6)						22
Vested			(0.9)						22
Forfeited			(1.0)						19
Outstanding at December 31, 2023			12.5						$	14
Expected to vest, end of year			12.5						$	12

(1)The Grant Adjustment primarily relates to an adjustment in the quantity of Performance-Based RSUs ultimately vested during 2023 that were dependent on the level of achievement of the specified performance conditions.

Schedule of Total Unrecognized Compensation Cost Related to Stock-based Compensation

The following table summarizes the Company’s total unrecognized compensation cost related to stock-based compensation at December 31, 2023:

(in millions)			Unrecognized Compensation Cost						Weighted Average Period of Expense Recognition (in years)
Restricted stock units			$	80					1
Stock options			4						1
Total			$	84					1

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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year.

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Tabular disclosure of cost not yet recognized and weighted-average period over which cost is expected to be recognized for nonvested award under share-based payment arrangement.

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