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Equity Based Compensation
3 Months Ended
Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Equity Based Compensation
Equity Based Compensation
Equity compensation expense was $4 million for the three months ended March 31, 2023 and 2022. In the first quarter of 2023, the Company granted 129,146 stock appreciation rights at $138.34 weighted average exercise price per share, 185,311 performance contingent shares and 105,122 restricted stock units to employees. As of March 31, 2023, 1,737,943 share awards at a weighted average strike price per share of $113.12 were vested and exercisable with a remaining weighted average exercise period of 4.5 years. As of March 31, 2023, the total compensation cost of non-vested awards not yet recognized in the financial statements was $31 million. It is estimated that these costs will vest over a weighted average period of 1.2 years.