Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2025

Share-Based Payment Arrangement [Abstract]

Summary of Share-Based Compensation Expense Income Tax Benefit Awards Issued Under Incentive Plans

Stock-based compensation expense of awards issued under the Company’s incentive plans, and the income tax benefit of awards vested and exercised, are as follows:

	Three Months Ended  March 31,
(In millions)	2025		2024
Restricted stock units - employees and non-employee directors	$	11	$	9
Restricted stock awards	—		1
Performance share awards	5		3
Total stock-based compensation expense	$	16	$	13
Income tax benefit	$	14	$	—

Assumptions to Determine the Grant Date Fair Value of the Equity Component and the Period-end Fair Value of the Liability

The following assumptions were used to determine the grant date fair value of the equity component and the period-end fair value of the liability component of the TSR Performance Share Awards:

	Grant Date
	February 19, 2025			March 31, 2025
Fair value per performance share award	$	21.49		$9.81 - $12.22
Assumptions:
Stock price volatility	33.8		%	24.4% - 31.0%
Risk-free rate of return	4.25		%	3.85% - 4.05%