v3.26.1
LONG-TERM INCENTIVE COMPENSATION (Tables)
6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of Roll Forward of Nonvested Restricted Stock Units
The following table summarizes the status of, and changes in, our nonvested restricted stock units during the six months ended June 30, 2026.
Restricted
stock
units
Weighted-
average
fair value
Nonvested at December 31, 20255,918,352 $114.80 
Time-based grants703,551 $103.48 
Vested(20,633)$119.90 
Forfeited(222,827)$116.34 
Nonvested at June 30, 20266,378,443 $113.48 
The following table summarizes changes in the restricted fund units liability, which is reported in deferred compensation liabilities on the unaudited consolidated balance sheet, for the six months ended June 30, 2026 and 2025.

(in millions)20262025
Balance at beginning of period$54.7 $14.7 
Amortization of grant date value35.2 22.9 
Amortization of market appreciation (depreciation)10.3 2.3 
Forfeitures(3.0)— 
Balance at June 30$97.2 $39.9 
Schedule of Future Stock-based Compensation Expense
The following table presents the compensation expense to be recognized over the requisite service period of the stock-based awards outstanding at June 30, 2026. Estimated future compensation expense will change to reflect future grants of restricted stock awards and units, future option grants, changes in the probability of performance thresholds being met and adjustments for actual forfeitures.

(in millions)
Third quarter 2026$47.5 
Fourth quarter 202642.0 
202798.8 
2028 through 203195.7 
Total$284.0 
Schedule of Future Stock-based Compensation Expense to be Recognized over the Remaining Vesting Periods of the Restricted Fund Unit Awards
The following table presents the compensation expense to be recognized over the requisite service period of the restricted fund units outstanding at June 30, 2026. Estimated future compensation expense will change to reflect future grants, changes in the market value of the restricted fund units, which is based on selected hypothetical investments, and adjustments for actual forfeitures. The grants outstanding will vest by 2030.
(in millions)
Third quarter 2026$18.6 
Fourth quarter 202615.0 
202736.7 
2028 through 203032.8 
Total$103.1