We recorded stock-based compensation expense of $6 million ($5 million, net of tax) and $6 million ($5 million, net of tax) during the three months ended June 30, 2025 and 2024, respectively. We recorded stock-based compensation expense of $12 million ($9 million, net of tax) and $13 million ($10 million, net of tax) during the six months ended June 30, 2025 and 2024, respectively.

As part of our declaration and payment of a special cash dividend in December 2023, we granted additional restricted stock units (“RSUs”) to our award holders with unvested shares as a dividend equivalent, which has been deferred until, and will not be paid unless, the shares of stock underlying the award vest.


	Number of Shares	Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Term (years)	Aggregate Intrinsic Value (in millions)
Time-based RSUs
Outstanding as of January 1, 2025	306	$	143.25
Granted (a)	281	62.67
Vested (b)	(71)	155.36
Forfeited	(37)	110.82
Outstanding and expected to vest as of June 30, 2025 (c)	479	$	96.70	1.4	$	81
Performance-based RSUs
Outstanding as of January 1, 2025	315	$	159.62
Granted (a)	428	62.64
Vested (b)	(61)	194.23
Forfeited	(124)	133.44
Outstanding as of June 30, 2025	558	$	87.24	1.9	$	94
Outstanding and expected to vest as of June 30, 2025 (c)	249	$	70.14	1.9	$	42

(a)Reflects the maximum number of stock units assuming achievement of all time- and performance-vesting criteria and does not include those for non-employee directors. The weighted-average fair value of time- and performance-based RSUs granted during the six months ended June 30, 2024 was $113.10.

(b)The total fair value of time- and performance-based RSUs vested during the six months ended June 30, 2025 and 2024 was $23 million and $29 million, respectively.

(c)Aggregate unrecognized compensation expense related to time- and performance-based RSUs amounted to $44 million and will be recognized over a weighted average vesting period of 1.6 years.