Stock-based Compensation |
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| Share-Based Payment Arrangement [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Stock-based Compensation | STOCK-BASED COMPENSATION During each of the three and nine months ended September 30, 2024 and 2023, we recognized $7 million, $21 million, $5 million, and $19 million in stock-based compensation expense, which was allocated between cost of goods sold and selling, general and administrative expenses in the condensed consolidated statements of operations. We recognized tax benefits on stock-based compensation of $1 million, $2 million, $0 million and $2 million for the three and nine months ended September 30, 2024 and 2023. 2024 Activity A summary of stock option award activity as of and for the nine months ended September 30, 2024 is presented below.
(1) Activity during the nine months ended September 30, 2024 rounds to zero. Cash received by the Company upon exercise of options for the nine months ended September 30, 2024 was $6 million. No excess tax benefits or shortfall expenses were recorded related to these exercises. At September 30, 2024, there was no unrecognized expense relating to unvested stock options.
Tax expenses on the vesting of restricted stock units during the nine months ended September 30, 2024 were immaterial. At September 30, 2024, there was $15 million of unamortized expense relating to unvested restricted stock units that is expected to be amortized over a weighted average period of 1.4 years.
(1) Activity during the nine months ended September 30, 2024 rounds to zero. Our performance share units allow for participants to vest in zero to 200% of the targeted number of shares granted. At September 30, 2024, there was $19 million of unamortized expense relating to unvested performance share units that is expected to be amortized over a weighted average period of 1.9 years. The forfeitures include portions of performance share unit grants that were determined to not have vested during the period as a result of not meeting established financial performance thresholds.
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