v3.26.1
Equity Based Compensation
6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Equity Based Compensation
Long-Term Incentive Compensation
Equity compensation expense was $41 million and $25 million for the six months ended June 30, 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 June 30, 2026, 1,127,528 share awards at a weighted average strike price per share of $132.12 were vested and exercisable with a remaining weighted average exercise period of 4.4 years. As of June 30, 2026, the total compensation cost of non-vested awards not yet recognized in the financial statements was $75 million. It is estimated that these costs will vest over a weighted average period of 1.0 years.