Stockholders' Equity

3 Months Ended

Mar. 31, 2025

Stockholders' Equity Note [Abstract]

Stockholders' Equity

Changes in Stockholders’ Equity

The following tables present certain information regarding our stockholders’ equity as of March 31, 2025 and 2024:

	Three Months Ended March 31, 2025
	Common Stock		Additional Paid in Capital		Retained Earnings		Treasury Stock		Accumulated Other Comprehensive Loss		Total
January 1, 2025	$	1	$	1,200	$	1,016	$	(1,216)	$	(365)	$	636
Settlement of liability awards	—		44		—		—		—		44
Vesting of RSUs, net of tax withholdings and other	—		(36)		—		—		—		(36)
Purchase of treasury stock(1)	—		—		—		(167)		—		(167)
Stock-based compensation	—		18		—		—		—		18
Net income	—		—		82		—		—		82
Other comprehensive loss	—		—		—		—		43		43
March 31, 2025	$	1	$	1,226	$	1,098	$	(1,383)	$	(322)	$	620
(1) Includes excise taxes of $1 million for three months ended March 31, 2025

	Three Months Ended March 31, 2024
	Common Stock		Additional Paid in Capital		Retained Earnings		Treasury Stock		Accumulated Other Comprehensive Loss		Total
January 1, 2024	$	1	$	1,118	$	680	$	(751)	$	(283)	$	765
Settlement of liability awards	—		65		—		—		—		65
Vesting of RSUs, net of tax withholding and other	—		(43)		—		—		—		(43)
Purchase of treasury stock	—		—		—		(25)		—		(25)
Stock-based compensation	—		14		—		—		—		14
Net income	—		—		82		—		—		82
Other comprehensive loss	—		—		—		—		(23)		(23)
March 31, 2024	$	1	$	1,154	$	762	$	(776)	$	(306)	$	835

Stock-based Compensation

For the three months ended March 31, 2025 and 2024, we recognized $27 million and $22 million, respectively, in total stock-based compensation expense under all programs. These amounts include $9 million and $8 million of stock-based compensation classified as liability awards for the three months ended March 31, 2025, and 2024, respectively.

Restricted Stock Units

A summary of the changes in RSUs outstanding under our equity-based compensation plans during the three months ended March 31, 2025 is presented below:

	Number of Restricted Stock Units	Weighted Average Grant Date Fair Value
Unvested RSUs as of December 31, 2024	2.0	$	75.49
Granted	1.0	$	106.48
Vested	(1.0)	$	84.82
Cancelled	(0.1)	$	75.94
Unvested RSUs as of March 31, 2025	1.9	$	87.32

The weighted-average grant date fair value of RSUs granted during the three months ended March 31, 2025 and 2024 was $106.48 and $99.65, respectively. The fair value of each RSU grant is based on the market value of our common stock at

the time of grant. As of March 31, 2025, we had $138 million of unrecognized stock-based compensation expense relating to unvested RSUs amortized over a weighted-average period of approximately 1.5 years. The fair value at vesting date of RSUs vested during the three months ended March 31, 2025 and 2024 was $110 million and $124 million, respectively.

Share Repurchase Programs

On June 11, 2024, our Board of Directors approved a share repurchase program under which the Company is authorized to repurchase, from time to time through June 12, 2027, up to an aggregate amount of $1.0 billion of shares of outstanding common stock. During the three months ended March 31, 2025, we repurchased approximately 1.9 million shares of common stock under the repurchase program at an aggregate cost of $167 million (including excise tax).