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Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock-based Compensation Expense
Stock-based compensation expense presented as “General and administrative” on the Consolidated Statement of Operations for the periods was:
Successor
Year Ended December 31, 2024May 18 through December 31, 2023
Stock-based compensation expense$33 $19 
Income tax benefit(8)(2)
After-tax stock-based compensation expense$25 $17 
Schedule of Nonvested Performance-Based Units Activity The following table summarizes the Company’s non-vested PSUs and changes during the year:
Successor
UnitsWeighted-Average
Grant Date
Fair Value per Unit
Non-vested as of December 31, 2023 (Successor)968,793 $54.35 
Granted4,945 96.00 
Forfeited(17,391)72.75 
Non-vested as of December 31, 2024 (Successor)956,347 $54.23 
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions The fair value of the PSUs was determined using a Monte Carlo valuation methodology based on the fair value of the underlying stock price at the grant date and the significant inputs and assumptions summarized below:
Successor
Year Ended December 31, 2024May 18 through December 31, 2023
Volatility (a)
25 %25 %
Expected term (in years)2.43
Risk-free rate (b)
4.29 %
4.35% - 4.59%
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(a)     Derived from an option pricing method based on the average asset volatility of peer companies and the Company’s leverage ratio.
(b)     Based on the U.S. constant maturity treasury rate with a term matching the expected time to the end of the performance measurement period.
Schedule of Nonvested Share RSUs Activity The following table summarizes the Company’s non-vested RSUs and changes during the year:
Successor
UnitsWeighted-Average
Grant Date
Fair Value per Unit
Non-vested as of December 31, 2023 (Successor)845,269 $48.46 
Granted56,346 121.89 
Forfeited(56,594)55.01 
Vested(295,616)48.90 
Non-vested as of December 31, 2024 (Successor)549,405 $55.07