v3.25.4
Stock-based Compensation Plans (Tables)
 12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock-Based Compensation Plan Expense
Stock-based compensation, which was recorded in the Consolidated Statements of Earnings within general and administrative expenses, and the related tax benefits recognized for the periods presented consists of the following:
Year Ended December 31,
(Dollars in millions)202520242023
Total stock-based compensation expense$32 $22 $17 
Tax benefits recognized from stock-based compensation6 6 2 
Schedule of Stock Option Activity
The following table shows a summary of all option activity under the 2022 Equity Plan for the year ended December 31, 2025:
Number of Shares
(in millions)
Weighted Average Exercise Price Per Share
Weighted Average Remaining Contractual Term
(in years)
Aggregate Intrinsic Value
(Dollars in millions)
Outstanding as of January 1, 20251.57 $10.39 3$34 
Exercised(0.36)10.28 
Forfeited(0.02)10.66 
Outstanding as of December 31, 20251.19 $10.42 2$28 
Exercisable as of December 31, 20251.14 $10.43 2$27 
Vested and expected to vest as of December 31, 20251.19 $10.42 2$28 
Schedule of RSUs and PRSUs Activity
The following table shows a summary of all RSU activity under the 2022 Equity Plan for the year ended December 31, 2025:
Number of Shares
(in millions)
Weighted Average Grant Date Fair Value
Unvested as of January 1, 20251.31 $16.89 
Granted0.46 33.23 
Vested(0.73)15.18 
Forfeited(0.03)24.91 
Unvested as of December 31, 20251.01 $25.39 
The following table shows a summary of all PRSU activity under the 2022 Equity Plan for the year ended December 31, 2025:
Number of Shares
(in millions)
Weighted Average Grant Date Fair Value
Unvested as of January 1, 20251.51 $16.19 
Granted0.28 37.96 
Vested(0.99)10.25 
Forfeited(0.04)25.61 
Performance adjustments0.39 10.68 
Unvested as of December 31, 20251.15 $21.74 
Schedule of PRSUs Valuation Assumptions
The Monte Carlo Model assumptions used in valuing market condition PRSUs during the periods presented are set forth in the following table:
Year Ended December 31,
202520242023
Grant date stock price$32.71 $21.51 $14.74 
Expected volatility37.4 %36.0 %51.2 %
Risk-free interest rate3.7 %4.9 %4.0 %
Expected dividend yield— %— %— %