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STOCK-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Summary of Stock-Based Compensation Expense
The following table summarizes stock-based compensation expense for the years ended December 31, 2024, 2023 and 2022.
Year Ended December 31,202420232022
RSUs and PSUs (a)
$210 $172 $155 
Stock options — — 3 
Expense included in operating and SG&A210 172 158 
Expense included in restructuring charges (b)
35 5 14 
Stock-based compensation expense, before income taxes245 177 172 
Related tax benefit(37)(35)(35)
Stock-based compensation expense, net of tax benefit$208 $142 $137 
(a) In connection with the Transactions, certain of the Company’s employees may become entitled to payments and benefits that, in accordance with Sections 280G and 4999 of the Internal Revenue Code of 1986, as amended, may not be deductible for tax purposes by the Company and result in an excise tax for the employees. To mitigate the potential tax impacts, the Compensation Committee of the Company’s Board of Directors approved the immediate vesting and settlement in shares of the Company’s Class B Common Stock of (a) 3,414,007 RSUs that were previously granted to 77 employees and scheduled to vest in future years and (b) 634,075 PSUs, comprising the target awards previously-granted with performance periods ending in calendar years 2026 and 2027 for three executives, for which performance-based vesting conditions would otherwise have been deemed achieved at target performance for purposes of the conversion of the PSUs pursuant to the Transaction Agreement. As a result of these modifications, we recorded $31 million of stock-based compensation expense during the three months ended December 31, 2024.
(b) Reflects accelerations as a result of restructuring activities, which are included in “Restructuring, transaction-related items, and other corporate matters” on the Consolidated Statements of Operations.
Summary of RSU and PSU Activity
The following table summarizes our RSU and PSU share activity:
Weighted Average
SharesGrant Date Fair Value
Non-vested at December 31, 202315,504,261 $26.38 
Granted (a)
20,970,112 $10.97 
Vested(12,139,195)$20.27 
Forfeited (4,085,536)$17.37 
Non-vested at December 31, 202420,249,642 $15.90 
(a) Grant activity includes 3.6 million of PSUs at target for 2024.
Summary of Stock Option Activity
The following table summarizes our stock option activity under the Plans.
Weighted Average
Stock OptionsExercise Price
Outstanding and Exercisable at December 31, 20233,545,406 $54.70 
Expired (746,960)$55.84 
Outstanding and Exercisable at December 31, 20242,798,446 $54.40