v3.25.0.1
Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of stock-based compensation expense
The total recognized and unrecognized stock-based compensation expense is as follows:
Year Ended December 31,Unrecognized Stock-Based Compensation Expense
(In millions)202420232022December 31, 2024
Performance based share units$11 $9 $7 $15 
Restricted stock units31 27 20 24 
Stock options— — — — 
  Total stock-based compensation expense$42 $36 $27 $39 
Summary of employee activity for PSUs
A summary of PSU activity is provided below: PSUsWeighted Average Grant Date Fair Value
(In thousands)
Non-vested as of December 31, 2021
168 $112.24 
Granted98 164.24 
Vested(86)115.70 
Forfeited (8)141.76 
Non-vested as of December 31, 2022
172 128.28 
Granted131 230.65 
Vested(137)84.52 
Forfeited (7)185.07 
Non-vested as of December 31, 2023
159 184.67 
Granted98 140.39 
Vested(47)148.85 
Forfeited(2)175.48 
Non-vested as of December 31, 2024
208 $171.36 
Schedule of valuation assumptions to estimate fair value of PSUs eighted average assumptions used to estimate the fair value of PSUs granted during the years ended as of December 31, 2024 and 2023 are as follows:
Year Ended December 31,
20242023
Expected volatility41.71 %51.72 %
Risk-free rate4.27 %4.56 %
Expected dividend yield— %— %
Summary of employee activity for RSUs
RSUsWeighted Average Grant Date Fair Value
(In thousands)
Unissued shares as of December 31, 2021
285 $97.68 
Granted
293 115.13 
Vested
(171)91.48 
Forfeited
(52)107.10 
Unissued shares as of December 31, 2022
355 113.41 
  Granted236 157.81 
Vested
(161)107.89 
Forfeited
(45)136.95 
Unissued shares as of December 31, 2023
385 139.35 
  Granted331 108.92 
  Vested(178)134.06 
  Forfeited(45)126.62 
Unissued shares as of December 31, 2024
493 $121.26 
Summary of employee activity for stock options and SARs
A summary of Stock Options activity is provided below:
Stock OptionsWeighted Average
Exercise Price
(In thousands)
December 31, 2021312 $85.56 
Exercised
(51)75.05 
December 31, 2022261 87.62 
Exercised
(71)91.44 
December 31, 2023190 86.21 
  Exercised(2)66.98 
December 31, 2024188 $86.42 
Exercisable at December 31, 2024
188 $86.42 

Stock Options
Exercise PriceNumber OutstandingWeighted
Average
Remaining Life
Weighted
Average
Exercise Price
(In thousands)(In years)
$60.01 - $80.00
76 2.3$66.98 
$80.01 - $100.00
64 1.3$80.97 
$100.01 - $130.00
48 0.3$124.35 
188