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Stock-Based Compensation Plans (Tables)
 12 Months Ended
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]  
Summary of Fair Values Estimated for PSUs
The fair values estimated from the Monte Carlo simulation for PSUs issued during the years ended December 31, 2022, 2021 and 2020 were calculated using the following assumptions:

Years Ended December 31,
202220212020
Expected volatility59.01 %47.43 %33.70 %
Risk-free interest rate %1.58 %0.20 %0.80 %
Expected term (in years)2.892.862.79
Dividend yield (1)
— %— %— %
(1) We have never declared or paid any cash dividends on our common stock and we currently do not intend to pay cash dividends.
Summary of Stock Incentive Plan For Employees and Non-Employee Directors The following table summarizes activity related to the Stock Incentive Plan for employees and non-employee directors during the years ended December 31, 2022, 2021 and 2020:
PSUsRSUs
(in whole dollars)Number of
Performance
Stock Units 		Weighted
Average Grant
Date Fair Value
Per Share		Number of
Restricted
Stock Units 		Weighted
Average Grant
Date Fair Value
Per Share
Non-vested as of January 1, 2020276,281$24.33 3,518,250$23.05 
Granted795,0996.33 2,262,67610.55 
Vested—— (921,060)21.07 
Forfeited(158,580)16.06 (572,902)19.27 
Non-vested as of December 31, 2020912,800$10.09 4,286,964$17.38 
Granted500,22742.98 1,142,31027.39 
Vested—— (1,714,810)19.27 
Forfeited(95,467)17.20 (237,331)20.44 
Non-vested as of December 31, 20211,317,560$22.06 3,477,133$19.52 
Granted672,45336.11 1,799,63222.69 
Vested(155,803)24.20 (1,664,167)20.46 
Forfeited(111,830)23.91 (201,636)21.89 
Non-vested as of December 31, 20221,722,380$27.23 3,410,962$20.57 
Unrecognized Compensation Cost Related to Unvested Awards
As of December 31, 2022, unrecognized compensation cost related to unvested awards granted to employees and non-employee directors under the Stock Incentive Plan is as follows:

(in millions)Unrecognized Compensation CostWeighted-Average Period
RSUs$23 1 year, 5 months
PSUs18 1 year, 9 months
Total unrecognized compensation cost$41 
Fair Value of Shares Vested
The fair value of shares vested follows:

Years Ended December 31,
(in millions)202220212020
RSUs$36 $48 $9 
PSUs(1)
4 NANA
Total$40 $48 $9 
(1) NA = Not applicable; there were no PSUs that vested during the years ended December 31, 2021 and 2020.
Fair Value of Stock Options in Black-Scholes Model The fair value of stock options was calculated using the following assumptions in the Black-Scholes model:
Years Ended December 31,
20212020
Expected stock price volatility34%
31% - 37%
Expected term of options5 years4.5 years
Expected dividend yield (1)
—%—%
Risk-free interest rate0.77%
0.25% - 1.41%
(1) We have never declared or paid any cash dividends on our common stock and we currently do not intend to pay cash dividends.
Summary of Stock Option Activity Related to the Stock Incentive Plan
The following table summarizes stock option activity related to the Stock Incentive Plan:

Stock Options
(in whole dollars)Number of
Stock
Options 		Weighted
Average
Exercise
Price		Weighted
Average
Contractual
Life		Aggregate
Intrinsic
Value
Stock Options outstanding as of January 1, 2020990,254$24.36 6.0 years$— 
Granted1,083,6659.17 
Forfeited(348,696)18.39 
Exercised— — 
Stock Options outstanding as of December 31, 20201,725,223$15.98 4.9 years$12 
Granted150,00025.48 
Forfeited(152,831)16.47 
Exercised(376,424)21.62 3 
Stock Options outstanding as of December 31, 20211,345,968$15.41 4.9 years$14 
Granted— —  
Forfeited(7,267)24.39  
Exercised(21,052)22.36 — 
Stock Options outstanding as of December 31, 20221,317,649$15.25 4.0 years$6 
Vested and expected to vest at December 31, 20221,258,797 $15.08 3.9 years$6 
Exercisable at December 31, 2022750,887 $17.26 3.4 years$2