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LONG-TERM INCENTIVE COMPENSATION (Tables)
6 Months Ended
Jun. 30, 2024
Share-Based Payment Arrangement, Noncash Expense [Abstract]  
Schedule of Stock-Based Compensation Costs
The Company recognized the following amounts in total related to long-term incentive compensation costs for the three and six months ended June 30, 2024 and 2023:
For the three months ended June 30,For the six months ended June 30,
(in millions)2024202320242023
Long-term incentive compensation – expensed$9 $$20 $11 
Long-term incentive compensation – capitalized$5 $$11 $
Schedule of Equity-Classified Stock-Based Compensation Costs
The Company recognized the following amounts in employee equity-classified stock-based compensation costs for the three and six months ended June 30, 2024 and 2023:
For the three months ended June 30,For the six months ended June 30,
(in millions)2024202320242023
Equity-classified awards – expensed$5 $$12 $
Equity-classified awards – capitalized$2 $— $5 $
Summary of Equity-Classified Stock Option Activity
The following table summarizes equity-classified stock option activity for the six months ended June 30, 2024 and provides information for options outstanding and options exercisable as of June 30, 2024:
Number
of Options
Weighted Average
Exercise Price
(in thousands) 
Outstanding at December 31, 2023820 $8.59 
Granted— $— 
Exercised— $— 
Forfeited or expired(820)$8.59 
Outstanding at June 30, 2024 $ 
Exercisable at June 30, 2024 $ 
Summary of Equity-Classified Restricted Stock Activity The following table summarizes equity-classified restricted stock activity for the six months ended June 30, 2024 and provides information for unvested shares as of June 30, 2024:
Number
of Shares
Weighted Average
Fair Value
(in thousands) 
Unvested shares at December 31, 2023169 $5.09 
Granted246 $7.31 
Vested(333)$6.18 
Forfeited— $— 
Unvested shares at June 30, 202482 $7.31 
Summary of Equity-Classified Restricted and Performance Stock Units Activity The following table summarizes equity-classified restricted stock units for the six months ended June 30, 2024 and provides information for unvested units as of June 30, 2024.
Number
of Shares
Weighted Average
Fair Value
(in thousands)
Unvested units at December 31, 20232,706 $4.74 
Granted3,182 $7.10 
Vested(1,084)$4.69 
Forfeited— $— 
Unvested units at June 30, 20244,804 $6.32 
Number
of Shares
Weighted Average
Fair Value
(in thousands)
Unvested units at December 31, 20231,757 $6.08 
Granted— $— 
Vested— $— 
Forfeited— $— 
Unvested units at June 30, 20241,757 $6.08 
Schedule of Liability-Classified Stock-Based Compensation Costs
The Company recognized the following amounts in employee liability-classified stock-based compensation costs for the three and six months ended June 30, 2024:
For the three months ended June 30,For the six months ended June 30,
(in millions)2024202320242023
Liability-classified stock-based compensation cost – expensed$1 $— $2 $
Liability-classified stock-based compensation cost – capitalized$ $$ $
Summary of Liability-Classified Restricted Stock Unit Activity
Number
of Units
Weighted Average
Fair Value
(in thousands) 
Unvested units at December 31, 20231,741 $4.67 
Granted— $— 
Vested(1,741)$6.93 
Forfeited— $— 
Unvested units at June 30, 2024 $ 
Summary of Liability-Classified Performance Unit Activity
Number
of Units
Weighted Average
Fair Value
(in thousands) 
Unvested units at December 31, 202312,152 $0.94 
Granted— $— 
Vested
(3,365)$1.59 
Forfeited— $— 
Unvested units at June 30, 20248,787 $0.65 
Schedule of Performance Cash Award Compensation Costs
The Company recognized the following amounts in performance cash award compensation costs for the three and six months ended June 30, 2024 and 2023:
For the three months ended June 30,For the six months ended June 30,
(in millions)2024202320242023
Performance cash awards – expensed$3 $$6 $
Performance cash awards – capitalized$3 $$6 $
Summary of Performance Cash Awards Activity
Number
of Units
Weighted Average Fair Value
(in thousands)
Unvested units at December 31, 202349,678 $1.00 
Granted28,202 $1.00 
Vested(20,373)$1.00 
Forfeited(805)$1.00 
Unvested units at June 30, 202456,702 $1.00