v3.25.2
Share-Based Compensation Weighting for Components of Performance Based RSU Awards (Details) - USD ($)
$ in Millions
1 Months Ended 6 Months Ended
Apr. 22, 2025
Feb. 28, 2025
Apr. 30, 2024
Feb. 29, 2024
Jun. 30, 2025
Jun. 30, 2024
Performance Shares            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Share-Based Compensation Arrangement by Share-Based Payment Award, Performance Adjustment Percentage         20.00%  
PLC Long Term Incentive Plan | Restricted Stock Units (RSUs)            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Performance-Based Awards % Granted For Officers         60.00%  
PLC Long Term Incentive Plan | Restricted Stock Units (RSUs) | Executives | Time-Based            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
RSU's Issued in Period, Gross   554,363   461,052    
Fair Value of RSUs Vested in Period   $ 36   $ 36    
RSU's, Used to Pay Witholding Taxes   224,317   188,897    
PLC Long Term Incentive Plan | Restricted Stock Units (RSUs) | Board of Directors            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
RSU's Issued in Period, Gross 29,199   18,272      
Fair Value of RSUs Vested in Period $ 2   $ 1      
RSU's, Used to Pay Witholding Taxes (1,298)   (2,312)      
PLC Long Term Incentive Plan | 2020 - 2022 Grants            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Average return on net assets         33.00%  
Cumulative net income         33.00%  
Relative total shareholder return [1]         33.00%  
PLC Long Term Incentive Plan | 2021 Grant | Restricted Stock Units (RSUs) | Executives | Performance-Based            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
RSU's Issued in Period, Gross           151,245
Fair Value of RSUs Vested in Period           $ 12
RSU's, Used to Pay Witholding Taxes           65,910
PLC Long Term Incentive Plan | 2022 Grant | Restricted Stock Units (RSUs) | Executives | Performance-Based            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
RSU's Issued in Period, Gross         138,010  
Fair Value of RSUs Vested in Period         $ 9  
RSU's, Used to Pay Witholding Taxes         58,518  
PLC Long Term Incentive Plan | 2025 Grant            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsPerformanceSoftwareandAdjacentMarketRevenueWeightingMetric [1]         30.00%  
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsPerformanceAverageReturnOnInvestedCapitalWeightingMetric [1]         70.00%  
[1] Relative total shareholder return is measured by comparing the average closing price per share of the Company’s ordinary shares for the specified trading days in December of the performance period to the average closing price per share of the Company’s ordinary shares for the specified trading days in December of the year preceding the grant, including dividends, and assessed against a comparable measure of competitor and peer group companies.
(3)The performance-based RSUs granted in 2025 are subject to a performance modifier based on relative total shareholder return, whereby the ultimate payout level of the performance-based RSUs may be adjusted upwards by 20% if relative total shareholder return is in the upper quartile against a comparable measure of competitor and peer group companies or downwards by 20% if in the bottom quartile for the specified trading days of the performance period as defined above. There will be no adjustment if relative total shareholder return is in the middle quartiles.
(4)Average return on net assets is measured by tax-affected operating income divided by average net working capital plus average net property, plant and equipment for each calendar year during the respective performance period.