v3.26.1
Equity Based Compensation
3 Months Ended
Mar. 31, 2026
Share-Based Payment Arrangement [Abstract]  
Equity Based Compensation
Long-Term Incentive Compensation
Equity compensation expense was $21 million and $7 million for the three months ended March 31, 2026 and 2025, respectively. In the first quarter of 2026, the Company granted 132,831 stock appreciation rights at $200.50 weighted average exercise price per share, 137,999 performance shares and 93,299 restricted stock units to employees. As of March 31, 2026, 1,184,100 share awards at a weighted average strike price per share of $132.25 were vested and exercisable with a remaining weighted average exercise period of 4.5 years. As of March 31, 2026, the total compensation cost of non-vested awards not yet recognized in the financial statements was $87 million. It is estimated that these costs will vest over a weighted average period of 1.24 years.