Stock Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation Expense Included in Consolidated Statement of Income and Comprehensive Income

Total stock-based compensation expense included in the Consolidated Statements of (Loss) Income and Comprehensive Loss was as follows: 

	December 31,
(DOLLARS IN MILLIONS)	2023		2022		2021
Equity-based awards	$	65	$	49	$	54
Liability-based awards	2		2		8
Total stock-based compensation	67		51		62
Less: Tax benefit	(11)		(8)		(13)
Total stock-based compensation, net of tax	$	56	$	43	$	49

SSAR's and Stock Option Activity

SSARs and options activity was as follows:

(SHARE AMOUNTS IN THOUSANDS)	Shares Subject to SSARs/Options	Weighted Average Exercise Price		SSARs/ Options Exercisable
December 31, 2022	331	$	115.35	182
Granted	—	—
Exercised	(8)	68.67
Canceled	(8)	122.28
December 31, 2023	315	$	116.26	194
Expected to Vest at December 31, 2023	118	$	126.99

SSAR's and Stock Option Outstanding

SSARs and options outstanding at December 31, 2023 was as follows:

Price Range	Number Outstanding (in thousands)	Weighted Average Remaining Contractual Life (in years)	Weighted Average Exercise Price		Aggregate Intrinsic Value (in millions)
Over $65	315	4.71	$	116.26	$	—

SSARs and options exercisable as of December 31, 2023 was as follows:

Price Range	Number Exercisable (in thousands)	Weighted Average Remaining Contractual Life (in years)	Weighted Average Exercise Price		Aggregate Intrinsic Value (in millions)
Over $65	194	4.33	$	109.59	$	—

RSU Activity

RSU activity was as follows:

(SHARE AMOUNTS IN THOUSANDS)	Number of Shares	Weighted Average Grant Date Fair Value Per Share
December 31, 2022	937	$	120.81
Granted	843	87.31
Vested	(315)	119.15
Forfeited	(78)	105.63
Change due to performance conditions, net	(20)	134.04
December 31, 2023	1,367	$	101.50

Cash RSU activity was as follows:

(SHARE AMOUNTS IN THOUSANDS)	Cash RSUs	Weighted Average  Fair Value Per Share
December 31, 2022	119	$	104.84
Granted	19	80.97
Vested	(40)	94.72
Forfeited	(7)	82.24
December 31, 2023	91	$	80.97

PRSU Activity

The following table summarizes the Company’s PRSU activity for the years ended December 31, 2023, 2022 and 2021:

(DOLLARS IN MILLIONS)	Issued Shares	Aggregate Purchases		Covered Shares
2023	—	$	—	—
2022	43,690	$	6	21,845
2021	61,870	$	9	30,935

PRSU activity was as follows:

(SHARE AMOUNTS IN THOUSANDS)	Number of Shares	Weighted Average Grant Date Fair Value Per Share
December 31, 2022	90	$	133.36
Granted	—	—
Vested	(26)	131.31
Forfeited	(3)	138.98
December 31, 2023	61	$	133.96

Cash RSU Activity

RSU activity was as follows:

(SHARE AMOUNTS IN THOUSANDS)	Number of Shares	Weighted Average Grant Date Fair Value Per Share
December 31, 2022	937	$	120.81
Granted	843	87.31
Vested	(315)	119.15
Forfeited	(78)	105.63
Change due to performance conditions, net	(20)	134.04
December 31, 2023	1,367	$	101.50

Cash RSU activity was as follows:

(SHARE AMOUNTS IN THOUSANDS)	Cash RSUs	Weighted Average  Fair Value Per Share
December 31, 2022	119	$	104.84
Granted	19	80.97
Vested	(40)	94.72
Forfeited	(7)	82.24
December 31, 2023	91	$	80.97