STOCK-BASED COMPENSATION PLANS (Tables)

The table below summarizes the components of total stock-based compensation:


(in millions)	2024		2023		2022
Stock options	$	1	$	2	$	3
Stock awards(a)	31		39		14
Deferred stock awards	1		1		1
Employee stock purchase plan	19		18		17
Stock-based compensation	$	52	$	60	$	35

Tax benefit related to stock-based compensation	$	13	$	14	$	9

The fair value of each option grant was estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions used for grants:


	2024	2023			2022
Expected volatility	—	46		%	44		%
Expected term	—	6 years			6 years
Risk-free interest rate	—	3.64		%	1.91		%
Expected dividend yield	—	—			—
Weighted-average grant date fair value per share	—	$	16.77		$	23.36
Estimated fair value of options granted (millions)	—	$	1		$	4

The tables below summarize stock option activity for the year ended December 31, 2024:


	Shares	Weighted- Average Exercise Price Per Share		Weighted- Average Contractual Life (Years)	Aggregate Intrinsic Value (in millions)
Outstanding, December 31, 2023	1,161,430	$	61.36	5.1	$	—
Granted	—	—
Exercised	(27,516)	41.05
Canceled	(29,380)	55.95
Forfeited or expired	(2,960)	55.51
Outstanding, December 31, 2024	1,101,574	$	62.03	4.1	$	5

Exercisable, December 31, 2024	973,512	$	62.99	3.8	$	4
Vested or expected to vest, December 31, 2024	1,101,483	$	62.03	4.1	$	5


(in millions)	2024		2023		2022
Intrinsic value of option exercises	$	1	$	—	$	—


Fair value of options vested	$	3	$	4	$	4

The following table summarizes information about outstanding stock awards:


	Number of Units	Weighted-Average Grant Date Fair Value		Weighted- Average Contractual Life (Years)	Aggregate Intrinsic Value (in millions)
Non-vested, December 31, 2023	868,784	$	51.95	1.7	$	34
Granted	1,125,225	39.16
Vested	(552,498)	47.52
Forfeited	(75,809)	52.93
Non-vested, December 31, 2024	1,365,702	$	43.80	1.6	$	90