v3.26.3
Share-Based Compensation Plans (Tables)
 9 Months Ended
Sep. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Summary of the changes in outstanding stock options
Share units
(in thousands)
Weighted
Average
Exercise
Price / Share		Weighted Average
Remaining
Contractual
Term (Years)
Aggregate Intrinsic Value
(in millions)
Outstanding at January 1, 20261,142 $95.75 6.4$46 
Granted296 127.64 
Exercised(44)72.30 
Forfeited and expired(67)128.93 
Other(1)129.67 
Outstanding at September 30, 20261,326 $101.94 6.2$18 
Options exercisable at September 30, 2026849 $87.04 4.7$18 
Vested and non-vested expected to vest as of September 30, 20261,293 $101.28 6.0$18 
Weighted-average assumptions The following are weighted-average assumptions used for 2026 grants:
Dividend yield1.33 %
Volatility27.10 %
Risk-free interest rate3.68 %
Expected term (in years)5.6
Weighted-average fair value per option$36.19 
Summary of restricted stock activity
Share Units
(in thousands)
Weighted Average
Grant Date Fair
Value / Share
Outstanding at January 1, 2026506 $123.27 
Granted311 126.81 
Vested(245)119.14 
Forfeited(52)122.81 
Other(4)123.27 
Outstanding at September 30, 2026516 $127.40 
Schedule of Share-based Compensation, Performance-Based Units Award Activity
Share units
(in thousands)
Weighted Average
Grant Date Fair
Value / Share
Outstanding at January 1, 202647 $113.89 
Adjustment for Performance Condition Achieved (a)18 100.50 
Vested(42)100.50 
Forfeited(4)127.03 
Outstanding at September 30, 202619 $127.94 
(a) Represents an increase in the number of original EBITDA performance share units awarded based on the final performance condition achievement at the end of the performance period of such awards.
TSR Performance Share Unit Grants
The following is a summary of the changes in outstanding TSR performance share units for nine months ended September 30, 2026:
Share units
(in thousands)
Weighted Average
Grant Date Fair
Value / Share
Outstanding at January 1, 2026146 $157.41 
Granted65 108.51 
Adjustment for Performance Condition Achieved (a)3 109.04 
Vested(51)109.04 
Forfeited(21)159.01 
Outstanding at September 30, 2026142 $151.00 
Fair value assumptions for performance-based awards
Volatility22.9 %
Risk-free interest rate3.49 %
Revenue Performance Share Unit Grants
The fair value of the Revenue performance share unit awards is determined using the closing price of our common stock on date of grant.
The following is a summary of our Revenue performance share unit grants for the nine months ended September 30, 2026:
Share units
 (in thousands)
Weighted
Average
Grant Date
Fair Value / Share
Outstanding at January 1, 202647 $113.89 
Adjustment for Performance Condition Achieved (a)5 100.50 
Vested(29)100.50 
Forfeited(4)127.03 
Outstanding at September 30, 202619 $127.94 
(a)Represents an increase in the number of original revenue performance share units awarded based on the final performance condition achievement at the end of the performance period of such awards.
EPS Performance Share Unit Grants
The fair value of the earnings per share ("EPS") performance share unit awards is determined using the closing price of our common stock on date of grant.
The following is a summary of the changes in outstanding EPS performance share units for nine months ended September 30, 2026:
Share units
(in thousands)
Weighted Average
Grant Date Fair
Value / Share
Outstanding at January 1, 202652 $129.82 
Granted65 130.72 
Forfeited(14)130.70 
Outstanding at September 30, 2026103 $130.27 
Employee Stock Purchase Plan
Effective May 18, 2026, we adopted an Employee Stock Purchase Plan ("ESPP"). The ESPP allows eligible employees to contribute up to 15% of their base compensation to purchase shares of our common stock at 85% of the lesser of the closing market price on the first or last day of the offering period. There are 4.0 million shares authorized for sale in connection with the ESPP, which may include treasury or newly issued shares.
The initial offering period under the ESPP began on June 1, 2026 and will close on November 30, 2026. For the three and nine months ended September 30, 2026, no shares have been sold under the ESPP. We accrued less than $1 million of expense for the three and nine months ended September 30, 2026 associated with the ESPP.