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In August 2020, the Company issued $ 500 million of senior unsecured notes, which mature in 2028 and bear interest at a rate of 4.375 % per year, for net proceeds of $ 492 million. Interest is payable semi-annually in arrears on February 15 and August 15 of each year, commencing on February 15, 2021. | text | 4.375 | percentItemType | text: <entity> 4.375 </entity> <entity type> percentItemType </entity type> <context> In August 2020, the Company issued $ 500 million of senior unsecured notes, which mature in 2028 and bear interest at a rate of 4.375 % per year, for net proceeds of $ 492 million. Interest is payable semi-annually in arrears on February 15 and August 15 of each year, commencing on February 15, 2021. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
In August 2020, the Company issued $ 500 million of senior unsecured notes, which mature in 2028 and bear interest at a rate of 4.375 % per year, for net proceeds of $ 492 million. Interest is payable semi-annually in arrears on February 15 and August 15 of each year, commencing on February 15, 2021. | text | 492 | monetaryItemType | text: <entity> 492 </entity> <entity type> monetaryItemType </entity type> <context> In August 2020, the Company issued $ 500 million of senior unsecured notes, which mature in 2028 and bear interest at a rate of 4.375 % per year, for net proceeds of $ 492 million. Interest is payable semi-annually in arrears on February 15 and August 15 of each year, commencing on February 15, 2021. </context> | us-gaap:ProceedsFromIssuanceOfUnsecuredDebt |
The Company classifies deferred debt issuance costs related to its revolving credit facility within other non-current assets on the Consolidated Balance Sheets. Such deferred debt issuance costs were $ 2 million and $ 3 million as of December 31, 2024 and 2023, respectively. | text | 2 | monetaryItemType | text: <entity> 2 </entity> <entity type> monetaryItemType </entity type> <context> The Company classifies deferred debt issuance costs related to its revolving credit facility within other non-current assets on the Consolidated Balance Sheets. Such deferred debt issuance costs were $ 2 million and $ 3 million as of December 31, 2024 and 2023, respectively. </context> | us-gaap:UnamortizedDebtIssuanceExpense |
The Company classifies deferred debt issuance costs related to its revolving credit facility within other non-current assets on the Consolidated Balance Sheets. Such deferred debt issuance costs were $ 2 million and $ 3 million as of December 31, 2024 and 2023, respectively. | text | 3 | monetaryItemType | text: <entity> 3 </entity> <entity type> monetaryItemType </entity type> <context> The Company classifies deferred debt issuance costs related to its revolving credit facility within other non-current assets on the Consolidated Balance Sheets. Such deferred debt issuance costs were $ 2 million and $ 3 million as of December 31, 2024 and 2023, respectively. </context> | us-gaap:UnamortizedDebtIssuanceExpense |
As of December 31, 2024, the Company has pay-fixed/receive-variable interest rate swaps which hedge the interest rate exposure on $ 1.4 billion, effectively representing over 94% of the outstanding amount of its term loan B. The interest rate swaps have weighted average fixed rates (plus applicable spreads) ranging from 3.31 % to 3.84 % based on various effective dates for each of the swap agreements, with $ 475 million of swaps expiring in the fourth quarter of 2027, $ 600 million expiring in the second quarter of 2028, and $ 350 million expiring in the third quarter of 2028. For the year ended December 31, 2024 and 2023, the weighted average fixed rate (plus applicable spreads) for the swaps were 1.86 % and 1.77 %, respectively. The aggregate fair value of these interest rate swaps was a net asset of $ 18 million and $ 13 million as of December 31, 2024 and 2023, respectively, which was included within other non-current assets on the Consolidated Balance Sheets, respectively. The effect of interest rate swaps on interest expense, net on the Consolidated Statements of Income were $ 36 million of income during both 2024 and 2023 and $ 2 million of expense during 2022. | text | 1.4 | monetaryItemType | text: <entity> 1.4 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2024, the Company has pay-fixed/receive-variable interest rate swaps which hedge the interest rate exposure on $ 1.4 billion, effectively representing over 94% of the outstanding amount of its term loan B. The interest rate swaps have weighted average fixed rates (plus applicable spreads) ranging from 3.31 % to 3.84 % based on various effective dates for each of the swap agreements, with $ 475 million of swaps expiring in the fourth quarter of 2027, $ 600 million expiring in the second quarter of 2028, and $ 350 million expiring in the third quarter of 2028. For the year ended December 31, 2024 and 2023, the weighted average fixed rate (plus applicable spreads) for the swaps were 1.86 % and 1.77 %, respectively. The aggregate fair value of these interest rate swaps was a net asset of $ 18 million and $ 13 million as of December 31, 2024 and 2023, respectively, which was included within other non-current assets on the Consolidated Balance Sheets, respectively. The effect of interest rate swaps on interest expense, net on the Consolidated Statements of Income were $ 36 million of income during both 2024 and 2023 and $ 2 million of expense during 2022. </context> | us-gaap:DerivativeNotionalAmount |
As of December 31, 2024, the Company has pay-fixed/receive-variable interest rate swaps which hedge the interest rate exposure on $ 1.4 billion, effectively representing over 94% of the outstanding amount of its term loan B. The interest rate swaps have weighted average fixed rates (plus applicable spreads) ranging from 3.31 % to 3.84 % based on various effective dates for each of the swap agreements, with $ 475 million of swaps expiring in the fourth quarter of 2027, $ 600 million expiring in the second quarter of 2028, and $ 350 million expiring in the third quarter of 2028. For the year ended December 31, 2024 and 2023, the weighted average fixed rate (plus applicable spreads) for the swaps were 1.86 % and 1.77 %, respectively. The aggregate fair value of these interest rate swaps was a net asset of $ 18 million and $ 13 million as of December 31, 2024 and 2023, respectively, which was included within other non-current assets on the Consolidated Balance Sheets, respectively. The effect of interest rate swaps on interest expense, net on the Consolidated Statements of Income were $ 36 million of income during both 2024 and 2023 and $ 2 million of expense during 2022. | text | 3.31 | percentItemType | text: <entity> 3.31 </entity> <entity type> percentItemType </entity type> <context> As of December 31, 2024, the Company has pay-fixed/receive-variable interest rate swaps which hedge the interest rate exposure on $ 1.4 billion, effectively representing over 94% of the outstanding amount of its term loan B. The interest rate swaps have weighted average fixed rates (plus applicable spreads) ranging from 3.31 % to 3.84 % based on various effective dates for each of the swap agreements, with $ 475 million of swaps expiring in the fourth quarter of 2027, $ 600 million expiring in the second quarter of 2028, and $ 350 million expiring in the third quarter of 2028. For the year ended December 31, 2024 and 2023, the weighted average fixed rate (plus applicable spreads) for the swaps were 1.86 % and 1.77 %, respectively. The aggregate fair value of these interest rate swaps was a net asset of $ 18 million and $ 13 million as of December 31, 2024 and 2023, respectively, which was included within other non-current assets on the Consolidated Balance Sheets, respectively. The effect of interest rate swaps on interest expense, net on the Consolidated Statements of Income were $ 36 million of income during both 2024 and 2023 and $ 2 million of expense during 2022. </context> | us-gaap:DerivativeFixedInterestRate |
As of December 31, 2024, the Company has pay-fixed/receive-variable interest rate swaps which hedge the interest rate exposure on $ 1.4 billion, effectively representing over 94% of the outstanding amount of its term loan B. The interest rate swaps have weighted average fixed rates (plus applicable spreads) ranging from 3.31 % to 3.84 % based on various effective dates for each of the swap agreements, with $ 475 million of swaps expiring in the fourth quarter of 2027, $ 600 million expiring in the second quarter of 2028, and $ 350 million expiring in the third quarter of 2028. For the year ended December 31, 2024 and 2023, the weighted average fixed rate (plus applicable spreads) for the swaps were 1.86 % and 1.77 %, respectively. The aggregate fair value of these interest rate swaps was a net asset of $ 18 million and $ 13 million as of December 31, 2024 and 2023, respectively, which was included within other non-current assets on the Consolidated Balance Sheets, respectively. The effect of interest rate swaps on interest expense, net on the Consolidated Statements of Income were $ 36 million of income during both 2024 and 2023 and $ 2 million of expense during 2022. | text | 3.84 | percentItemType | text: <entity> 3.84 </entity> <entity type> percentItemType </entity type> <context> As of December 31, 2024, the Company has pay-fixed/receive-variable interest rate swaps which hedge the interest rate exposure on $ 1.4 billion, effectively representing over 94% of the outstanding amount of its term loan B. The interest rate swaps have weighted average fixed rates (plus applicable spreads) ranging from 3.31 % to 3.84 % based on various effective dates for each of the swap agreements, with $ 475 million of swaps expiring in the fourth quarter of 2027, $ 600 million expiring in the second quarter of 2028, and $ 350 million expiring in the third quarter of 2028. For the year ended December 31, 2024 and 2023, the weighted average fixed rate (plus applicable spreads) for the swaps were 1.86 % and 1.77 %, respectively. The aggregate fair value of these interest rate swaps was a net asset of $ 18 million and $ 13 million as of December 31, 2024 and 2023, respectively, which was included within other non-current assets on the Consolidated Balance Sheets, respectively. The effect of interest rate swaps on interest expense, net on the Consolidated Statements of Income were $ 36 million of income during both 2024 and 2023 and $ 2 million of expense during 2022. </context> | us-gaap:DerivativeFixedInterestRate |
As of December 31, 2024, the Company has pay-fixed/receive-variable interest rate swaps which hedge the interest rate exposure on $ 1.4 billion, effectively representing over 94% of the outstanding amount of its term loan B. The interest rate swaps have weighted average fixed rates (plus applicable spreads) ranging from 3.31 % to 3.84 % based on various effective dates for each of the swap agreements, with $ 475 million of swaps expiring in the fourth quarter of 2027, $ 600 million expiring in the second quarter of 2028, and $ 350 million expiring in the third quarter of 2028. For the year ended December 31, 2024 and 2023, the weighted average fixed rate (plus applicable spreads) for the swaps were 1.86 % and 1.77 %, respectively. The aggregate fair value of these interest rate swaps was a net asset of $ 18 million and $ 13 million as of December 31, 2024 and 2023, respectively, which was included within other non-current assets on the Consolidated Balance Sheets, respectively. The effect of interest rate swaps on interest expense, net on the Consolidated Statements of Income were $ 36 million of income during both 2024 and 2023 and $ 2 million of expense during 2022. | text | 475 | monetaryItemType | text: <entity> 475 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2024, the Company has pay-fixed/receive-variable interest rate swaps which hedge the interest rate exposure on $ 1.4 billion, effectively representing over 94% of the outstanding amount of its term loan B. The interest rate swaps have weighted average fixed rates (plus applicable spreads) ranging from 3.31 % to 3.84 % based on various effective dates for each of the swap agreements, with $ 475 million of swaps expiring in the fourth quarter of 2027, $ 600 million expiring in the second quarter of 2028, and $ 350 million expiring in the third quarter of 2028. For the year ended December 31, 2024 and 2023, the weighted average fixed rate (plus applicable spreads) for the swaps were 1.86 % and 1.77 %, respectively. The aggregate fair value of these interest rate swaps was a net asset of $ 18 million and $ 13 million as of December 31, 2024 and 2023, respectively, which was included within other non-current assets on the Consolidated Balance Sheets, respectively. The effect of interest rate swaps on interest expense, net on the Consolidated Statements of Income were $ 36 million of income during both 2024 and 2023 and $ 2 million of expense during 2022. </context> | us-gaap:DerivativeNotionalAmount |
As of December 31, 2024, the Company has pay-fixed/receive-variable interest rate swaps which hedge the interest rate exposure on $ 1.4 billion, effectively representing over 94% of the outstanding amount of its term loan B. The interest rate swaps have weighted average fixed rates (plus applicable spreads) ranging from 3.31 % to 3.84 % based on various effective dates for each of the swap agreements, with $ 475 million of swaps expiring in the fourth quarter of 2027, $ 600 million expiring in the second quarter of 2028, and $ 350 million expiring in the third quarter of 2028. For the year ended December 31, 2024 and 2023, the weighted average fixed rate (plus applicable spreads) for the swaps were 1.86 % and 1.77 %, respectively. The aggregate fair value of these interest rate swaps was a net asset of $ 18 million and $ 13 million as of December 31, 2024 and 2023, respectively, which was included within other non-current assets on the Consolidated Balance Sheets, respectively. The effect of interest rate swaps on interest expense, net on the Consolidated Statements of Income were $ 36 million of income during both 2024 and 2023 and $ 2 million of expense during 2022. | text | 600 | monetaryItemType | text: <entity> 600 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2024, the Company has pay-fixed/receive-variable interest rate swaps which hedge the interest rate exposure on $ 1.4 billion, effectively representing over 94% of the outstanding amount of its term loan B. The interest rate swaps have weighted average fixed rates (plus applicable spreads) ranging from 3.31 % to 3.84 % based on various effective dates for each of the swap agreements, with $ 475 million of swaps expiring in the fourth quarter of 2027, $ 600 million expiring in the second quarter of 2028, and $ 350 million expiring in the third quarter of 2028. For the year ended December 31, 2024 and 2023, the weighted average fixed rate (plus applicable spreads) for the swaps were 1.86 % and 1.77 %, respectively. The aggregate fair value of these interest rate swaps was a net asset of $ 18 million and $ 13 million as of December 31, 2024 and 2023, respectively, which was included within other non-current assets on the Consolidated Balance Sheets, respectively. The effect of interest rate swaps on interest expense, net on the Consolidated Statements of Income were $ 36 million of income during both 2024 and 2023 and $ 2 million of expense during 2022. </context> | us-gaap:DerivativeNotionalAmount |
As of December 31, 2024, the Company has pay-fixed/receive-variable interest rate swaps which hedge the interest rate exposure on $ 1.4 billion, effectively representing over 94% of the outstanding amount of its term loan B. The interest rate swaps have weighted average fixed rates (plus applicable spreads) ranging from 3.31 % to 3.84 % based on various effective dates for each of the swap agreements, with $ 475 million of swaps expiring in the fourth quarter of 2027, $ 600 million expiring in the second quarter of 2028, and $ 350 million expiring in the third quarter of 2028. For the year ended December 31, 2024 and 2023, the weighted average fixed rate (plus applicable spreads) for the swaps were 1.86 % and 1.77 %, respectively. The aggregate fair value of these interest rate swaps was a net asset of $ 18 million and $ 13 million as of December 31, 2024 and 2023, respectively, which was included within other non-current assets on the Consolidated Balance Sheets, respectively. The effect of interest rate swaps on interest expense, net on the Consolidated Statements of Income were $ 36 million of income during both 2024 and 2023 and $ 2 million of expense during 2022. | text | 350 | monetaryItemType | text: <entity> 350 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2024, the Company has pay-fixed/receive-variable interest rate swaps which hedge the interest rate exposure on $ 1.4 billion, effectively representing over 94% of the outstanding amount of its term loan B. The interest rate swaps have weighted average fixed rates (plus applicable spreads) ranging from 3.31 % to 3.84 % based on various effective dates for each of the swap agreements, with $ 475 million of swaps expiring in the fourth quarter of 2027, $ 600 million expiring in the second quarter of 2028, and $ 350 million expiring in the third quarter of 2028. For the year ended December 31, 2024 and 2023, the weighted average fixed rate (plus applicable spreads) for the swaps were 1.86 % and 1.77 %, respectively. The aggregate fair value of these interest rate swaps was a net asset of $ 18 million and $ 13 million as of December 31, 2024 and 2023, respectively, which was included within other non-current assets on the Consolidated Balance Sheets, respectively. The effect of interest rate swaps on interest expense, net on the Consolidated Statements of Income were $ 36 million of income during both 2024 and 2023 and $ 2 million of expense during 2022. </context> | us-gaap:DerivativeNotionalAmount |
As of December 31, 2024, the Company has pay-fixed/receive-variable interest rate swaps which hedge the interest rate exposure on $ 1.4 billion, effectively representing over 94% of the outstanding amount of its term loan B. The interest rate swaps have weighted average fixed rates (plus applicable spreads) ranging from 3.31 % to 3.84 % based on various effective dates for each of the swap agreements, with $ 475 million of swaps expiring in the fourth quarter of 2027, $ 600 million expiring in the second quarter of 2028, and $ 350 million expiring in the third quarter of 2028. For the year ended December 31, 2024 and 2023, the weighted average fixed rate (plus applicable spreads) for the swaps were 1.86 % and 1.77 %, respectively. The aggregate fair value of these interest rate swaps was a net asset of $ 18 million and $ 13 million as of December 31, 2024 and 2023, respectively, which was included within other non-current assets on the Consolidated Balance Sheets, respectively. The effect of interest rate swaps on interest expense, net on the Consolidated Statements of Income were $ 36 million of income during both 2024 and 2023 and $ 2 million of expense during 2022. | text | 1.86 | percentItemType | text: <entity> 1.86 </entity> <entity type> percentItemType </entity type> <context> As of December 31, 2024, the Company has pay-fixed/receive-variable interest rate swaps which hedge the interest rate exposure on $ 1.4 billion, effectively representing over 94% of the outstanding amount of its term loan B. The interest rate swaps have weighted average fixed rates (plus applicable spreads) ranging from 3.31 % to 3.84 % based on various effective dates for each of the swap agreements, with $ 475 million of swaps expiring in the fourth quarter of 2027, $ 600 million expiring in the second quarter of 2028, and $ 350 million expiring in the third quarter of 2028. For the year ended December 31, 2024 and 2023, the weighted average fixed rate (plus applicable spreads) for the swaps were 1.86 % and 1.77 %, respectively. The aggregate fair value of these interest rate swaps was a net asset of $ 18 million and $ 13 million as of December 31, 2024 and 2023, respectively, which was included within other non-current assets on the Consolidated Balance Sheets, respectively. The effect of interest rate swaps on interest expense, net on the Consolidated Statements of Income were $ 36 million of income during both 2024 and 2023 and $ 2 million of expense during 2022. </context> | us-gaap:DerivativeFixedInterestRate |
As of December 31, 2024, the Company has pay-fixed/receive-variable interest rate swaps which hedge the interest rate exposure on $ 1.4 billion, effectively representing over 94% of the outstanding amount of its term loan B. The interest rate swaps have weighted average fixed rates (plus applicable spreads) ranging from 3.31 % to 3.84 % based on various effective dates for each of the swap agreements, with $ 475 million of swaps expiring in the fourth quarter of 2027, $ 600 million expiring in the second quarter of 2028, and $ 350 million expiring in the third quarter of 2028. For the year ended December 31, 2024 and 2023, the weighted average fixed rate (plus applicable spreads) for the swaps were 1.86 % and 1.77 %, respectively. The aggregate fair value of these interest rate swaps was a net asset of $ 18 million and $ 13 million as of December 31, 2024 and 2023, respectively, which was included within other non-current assets on the Consolidated Balance Sheets, respectively. The effect of interest rate swaps on interest expense, net on the Consolidated Statements of Income were $ 36 million of income during both 2024 and 2023 and $ 2 million of expense during 2022. | text | 1.77 | percentItemType | text: <entity> 1.77 </entity> <entity type> percentItemType </entity type> <context> As of December 31, 2024, the Company has pay-fixed/receive-variable interest rate swaps which hedge the interest rate exposure on $ 1.4 billion, effectively representing over 94% of the outstanding amount of its term loan B. The interest rate swaps have weighted average fixed rates (plus applicable spreads) ranging from 3.31 % to 3.84 % based on various effective dates for each of the swap agreements, with $ 475 million of swaps expiring in the fourth quarter of 2027, $ 600 million expiring in the second quarter of 2028, and $ 350 million expiring in the third quarter of 2028. For the year ended December 31, 2024 and 2023, the weighted average fixed rate (plus applicable spreads) for the swaps were 1.86 % and 1.77 %, respectively. The aggregate fair value of these interest rate swaps was a net asset of $ 18 million and $ 13 million as of December 31, 2024 and 2023, respectively, which was included within other non-current assets on the Consolidated Balance Sheets, respectively. The effect of interest rate swaps on interest expense, net on the Consolidated Statements of Income were $ 36 million of income during both 2024 and 2023 and $ 2 million of expense during 2022. </context> | us-gaap:DerivativeFixedInterestRate |
As of December 31, 2024, the Company has pay-fixed/receive-variable interest rate swaps which hedge the interest rate exposure on $ 1.4 billion, effectively representing over 94% of the outstanding amount of its term loan B. The interest rate swaps have weighted average fixed rates (plus applicable spreads) ranging from 3.31 % to 3.84 % based on various effective dates for each of the swap agreements, with $ 475 million of swaps expiring in the fourth quarter of 2027, $ 600 million expiring in the second quarter of 2028, and $ 350 million expiring in the third quarter of 2028. For the year ended December 31, 2024 and 2023, the weighted average fixed rate (plus applicable spreads) for the swaps were 1.86 % and 1.77 %, respectively. The aggregate fair value of these interest rate swaps was a net asset of $ 18 million and $ 13 million as of December 31, 2024 and 2023, respectively, which was included within other non-current assets on the Consolidated Balance Sheets, respectively. The effect of interest rate swaps on interest expense, net on the Consolidated Statements of Income were $ 36 million of income during both 2024 and 2023 and $ 2 million of expense during 2022. | text | 18 | monetaryItemType | text: <entity> 18 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2024, the Company has pay-fixed/receive-variable interest rate swaps which hedge the interest rate exposure on $ 1.4 billion, effectively representing over 94% of the outstanding amount of its term loan B. The interest rate swaps have weighted average fixed rates (plus applicable spreads) ranging from 3.31 % to 3.84 % based on various effective dates for each of the swap agreements, with $ 475 million of swaps expiring in the fourth quarter of 2027, $ 600 million expiring in the second quarter of 2028, and $ 350 million expiring in the third quarter of 2028. For the year ended December 31, 2024 and 2023, the weighted average fixed rate (plus applicable spreads) for the swaps were 1.86 % and 1.77 %, respectively. The aggregate fair value of these interest rate swaps was a net asset of $ 18 million and $ 13 million as of December 31, 2024 and 2023, respectively, which was included within other non-current assets on the Consolidated Balance Sheets, respectively. The effect of interest rate swaps on interest expense, net on the Consolidated Statements of Income were $ 36 million of income during both 2024 and 2023 and $ 2 million of expense during 2022. </context> | us-gaap:InterestRateCashFlowHedgeAssetAtFairValue |
As of December 31, 2024, the Company has pay-fixed/receive-variable interest rate swaps which hedge the interest rate exposure on $ 1.4 billion, effectively representing over 94% of the outstanding amount of its term loan B. The interest rate swaps have weighted average fixed rates (plus applicable spreads) ranging from 3.31 % to 3.84 % based on various effective dates for each of the swap agreements, with $ 475 million of swaps expiring in the fourth quarter of 2027, $ 600 million expiring in the second quarter of 2028, and $ 350 million expiring in the third quarter of 2028. For the year ended December 31, 2024 and 2023, the weighted average fixed rate (plus applicable spreads) for the swaps were 1.86 % and 1.77 %, respectively. The aggregate fair value of these interest rate swaps was a net asset of $ 18 million and $ 13 million as of December 31, 2024 and 2023, respectively, which was included within other non-current assets on the Consolidated Balance Sheets, respectively. The effect of interest rate swaps on interest expense, net on the Consolidated Statements of Income were $ 36 million of income during both 2024 and 2023 and $ 2 million of expense during 2022. | text | 13 | monetaryItemType | text: <entity> 13 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2024, the Company has pay-fixed/receive-variable interest rate swaps which hedge the interest rate exposure on $ 1.4 billion, effectively representing over 94% of the outstanding amount of its term loan B. The interest rate swaps have weighted average fixed rates (plus applicable spreads) ranging from 3.31 % to 3.84 % based on various effective dates for each of the swap agreements, with $ 475 million of swaps expiring in the fourth quarter of 2027, $ 600 million expiring in the second quarter of 2028, and $ 350 million expiring in the third quarter of 2028. For the year ended December 31, 2024 and 2023, the weighted average fixed rate (plus applicable spreads) for the swaps were 1.86 % and 1.77 %, respectively. The aggregate fair value of these interest rate swaps was a net asset of $ 18 million and $ 13 million as of December 31, 2024 and 2023, respectively, which was included within other non-current assets on the Consolidated Balance Sheets, respectively. The effect of interest rate swaps on interest expense, net on the Consolidated Statements of Income were $ 36 million of income during both 2024 and 2023 and $ 2 million of expense during 2022. </context> | us-gaap:InterestRateCashFlowHedgeAssetAtFairValue |
As of December 31, 2024, the Company has pay-fixed/receive-variable interest rate swaps which hedge the interest rate exposure on $ 1.4 billion, effectively representing over 94% of the outstanding amount of its term loan B. The interest rate swaps have weighted average fixed rates (plus applicable spreads) ranging from 3.31 % to 3.84 % based on various effective dates for each of the swap agreements, with $ 475 million of swaps expiring in the fourth quarter of 2027, $ 600 million expiring in the second quarter of 2028, and $ 350 million expiring in the third quarter of 2028. For the year ended December 31, 2024 and 2023, the weighted average fixed rate (plus applicable spreads) for the swaps were 1.86 % and 1.77 %, respectively. The aggregate fair value of these interest rate swaps was a net asset of $ 18 million and $ 13 million as of December 31, 2024 and 2023, respectively, which was included within other non-current assets on the Consolidated Balance Sheets, respectively. The effect of interest rate swaps on interest expense, net on the Consolidated Statements of Income were $ 36 million of income during both 2024 and 2023 and $ 2 million of expense during 2022. | text | 2 | monetaryItemType | text: <entity> 2 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2024, the Company has pay-fixed/receive-variable interest rate swaps which hedge the interest rate exposure on $ 1.4 billion, effectively representing over 94% of the outstanding amount of its term loan B. The interest rate swaps have weighted average fixed rates (plus applicable spreads) ranging from 3.31 % to 3.84 % based on various effective dates for each of the swap agreements, with $ 475 million of swaps expiring in the fourth quarter of 2027, $ 600 million expiring in the second quarter of 2028, and $ 350 million expiring in the third quarter of 2028. For the year ended December 31, 2024 and 2023, the weighted average fixed rate (plus applicable spreads) for the swaps were 1.86 % and 1.77 %, respectively. The aggregate fair value of these interest rate swaps was a net asset of $ 18 million and $ 13 million as of December 31, 2024 and 2023, respectively, which was included within other non-current assets on the Consolidated Balance Sheets, respectively. The effect of interest rate swaps on interest expense, net on the Consolidated Statements of Income were $ 36 million of income during both 2024 and 2023 and $ 2 million of expense during 2022. </context> | us-gaap:InterestRateCashFlowHedgeGainLossReclassifiedToEarningsNet |
There was no hedging ineffectiveness recognized in 2024, 2023 or 2022. The Company expects to reclassify approximately $ 8 million of gains from AOCI to interest expense during the next 12 months. | text | 8 | monetaryItemType | text: <entity> 8 </entity> <entity type> monetaryItemType </entity type> <context> There was no hedging ineffectiveness recognized in 2024, 2023 or 2022. The Company expects to reclassify approximately $ 8 million of gains from AOCI to interest expense during the next 12 months. </context> | us-gaap:InterestRateCashFlowHedgeGainLossToBeReclassifiedDuringNext12MonthsNet |
The Company incurred interest expense of $ 129 million, $ 108 million and $ 85 million in 2024, 2023 and 2022, respectively. Cash paid related to such interest was $ 126 million, $ 103 million and $ 82 million for 2024, 2023 and 2022, respectively. Interest income was $ 5 million, $ 6 million and $ 5 million for 2024, 2023 and 2022, respectively. | text | 129 | monetaryItemType | text: <entity> 129 </entity> <entity type> monetaryItemType </entity type> <context> The Company incurred interest expense of $ 129 million, $ 108 million and $ 85 million in 2024, 2023 and 2022, respectively. Cash paid related to such interest was $ 126 million, $ 103 million and $ 82 million for 2024, 2023 and 2022, respectively. Interest income was $ 5 million, $ 6 million and $ 5 million for 2024, 2023 and 2022, respectively. </context> | us-gaap:InterestExpenseDebt |
The Company incurred interest expense of $ 129 million, $ 108 million and $ 85 million in 2024, 2023 and 2022, respectively. Cash paid related to such interest was $ 126 million, $ 103 million and $ 82 million for 2024, 2023 and 2022, respectively. Interest income was $ 5 million, $ 6 million and $ 5 million for 2024, 2023 and 2022, respectively. | text | 108 | monetaryItemType | text: <entity> 108 </entity> <entity type> monetaryItemType </entity type> <context> The Company incurred interest expense of $ 129 million, $ 108 million and $ 85 million in 2024, 2023 and 2022, respectively. Cash paid related to such interest was $ 126 million, $ 103 million and $ 82 million for 2024, 2023 and 2022, respectively. Interest income was $ 5 million, $ 6 million and $ 5 million for 2024, 2023 and 2022, respectively. </context> | us-gaap:InterestExpenseDebt |
The Company incurred interest expense of $ 129 million, $ 108 million and $ 85 million in 2024, 2023 and 2022, respectively. Cash paid related to such interest was $ 126 million, $ 103 million and $ 82 million for 2024, 2023 and 2022, respectively. Interest income was $ 5 million, $ 6 million and $ 5 million for 2024, 2023 and 2022, respectively. | text | 85 | monetaryItemType | text: <entity> 85 </entity> <entity type> monetaryItemType </entity type> <context> The Company incurred interest expense of $ 129 million, $ 108 million and $ 85 million in 2024, 2023 and 2022, respectively. Cash paid related to such interest was $ 126 million, $ 103 million and $ 82 million for 2024, 2023 and 2022, respectively. Interest income was $ 5 million, $ 6 million and $ 5 million for 2024, 2023 and 2022, respectively. </context> | us-gaap:InterestExpenseDebt |
The Company incurred interest expense of $ 129 million, $ 108 million and $ 85 million in 2024, 2023 and 2022, respectively. Cash paid related to such interest was $ 126 million, $ 103 million and $ 82 million for 2024, 2023 and 2022, respectively. Interest income was $ 5 million, $ 6 million and $ 5 million for 2024, 2023 and 2022, respectively. | text | 126 | monetaryItemType | text: <entity> 126 </entity> <entity type> monetaryItemType </entity type> <context> The Company incurred interest expense of $ 129 million, $ 108 million and $ 85 million in 2024, 2023 and 2022, respectively. Cash paid related to such interest was $ 126 million, $ 103 million and $ 82 million for 2024, 2023 and 2022, respectively. Interest income was $ 5 million, $ 6 million and $ 5 million for 2024, 2023 and 2022, respectively. </context> | us-gaap:InterestPaidNet |
The Company incurred interest expense of $ 129 million, $ 108 million and $ 85 million in 2024, 2023 and 2022, respectively. Cash paid related to such interest was $ 126 million, $ 103 million and $ 82 million for 2024, 2023 and 2022, respectively. Interest income was $ 5 million, $ 6 million and $ 5 million for 2024, 2023 and 2022, respectively. | text | 103 | monetaryItemType | text: <entity> 103 </entity> <entity type> monetaryItemType </entity type> <context> The Company incurred interest expense of $ 129 million, $ 108 million and $ 85 million in 2024, 2023 and 2022, respectively. Cash paid related to such interest was $ 126 million, $ 103 million and $ 82 million for 2024, 2023 and 2022, respectively. Interest income was $ 5 million, $ 6 million and $ 5 million for 2024, 2023 and 2022, respectively. </context> | us-gaap:InterestPaidNet |
The Company incurred interest expense of $ 129 million, $ 108 million and $ 85 million in 2024, 2023 and 2022, respectively. Cash paid related to such interest was $ 126 million, $ 103 million and $ 82 million for 2024, 2023 and 2022, respectively. Interest income was $ 5 million, $ 6 million and $ 5 million for 2024, 2023 and 2022, respectively. | text | 82 | monetaryItemType | text: <entity> 82 </entity> <entity type> monetaryItemType </entity type> <context> The Company incurred interest expense of $ 129 million, $ 108 million and $ 85 million in 2024, 2023 and 2022, respectively. Cash paid related to such interest was $ 126 million, $ 103 million and $ 82 million for 2024, 2023 and 2022, respectively. Interest income was $ 5 million, $ 6 million and $ 5 million for 2024, 2023 and 2022, respectively. </context> | us-gaap:InterestPaidNet |
The Company incurred interest expense of $ 129 million, $ 108 million and $ 85 million in 2024, 2023 and 2022, respectively. Cash paid related to such interest was $ 126 million, $ 103 million and $ 82 million for 2024, 2023 and 2022, respectively. Interest income was $ 5 million, $ 6 million and $ 5 million for 2024, 2023 and 2022, respectively. | text | 5 | monetaryItemType | text: <entity> 5 </entity> <entity type> monetaryItemType </entity type> <context> The Company incurred interest expense of $ 129 million, $ 108 million and $ 85 million in 2024, 2023 and 2022, respectively. Cash paid related to such interest was $ 126 million, $ 103 million and $ 82 million for 2024, 2023 and 2022, respectively. Interest income was $ 5 million, $ 6 million and $ 5 million for 2024, 2023 and 2022, respectively. </context> | us-gaap:InterestIncomeOther |
The Company incurred interest expense of $ 129 million, $ 108 million and $ 85 million in 2024, 2023 and 2022, respectively. Cash paid related to such interest was $ 126 million, $ 103 million and $ 82 million for 2024, 2023 and 2022, respectively. Interest income was $ 5 million, $ 6 million and $ 5 million for 2024, 2023 and 2022, respectively. | text | 6 | monetaryItemType | text: <entity> 6 </entity> <entity type> monetaryItemType </entity type> <context> The Company incurred interest expense of $ 129 million, $ 108 million and $ 85 million in 2024, 2023 and 2022, respectively. Cash paid related to such interest was $ 126 million, $ 103 million and $ 82 million for 2024, 2023 and 2022, respectively. Interest income was $ 5 million, $ 6 million and $ 5 million for 2024, 2023 and 2022, respectively. </context> | us-gaap:InterestIncomeOther |
The Company has foreign currency rate exposure to exchange rate fluctuations worldwide, particularly with respect to the Canadian Dollar, Chinese Yuan, Euro, Brazilian Real, British Pound and Argentine Peso. The Company uses foreign currency forward contracts at various times to manage and reduce the foreign currency exchange rate risk associated with its foreign currency denominated receivables and payables, forecasted royalties and forecasted earnings and cash flows of foreign subsidiaries and other transactions. The Company recognized gains from freestanding foreign currency exchange contracts of $ 3 million during 2024, $ 3 million of losses during 2023 and $ 2 million of gains during 2022. Such gains and losses are included in operating expenses in the Consolidated Statements of Income. | text | 3 | monetaryItemType | text: <entity> 3 </entity> <entity type> monetaryItemType </entity type> <context> The Company has foreign currency rate exposure to exchange rate fluctuations worldwide, particularly with respect to the Canadian Dollar, Chinese Yuan, Euro, Brazilian Real, British Pound and Argentine Peso. The Company uses foreign currency forward contracts at various times to manage and reduce the foreign currency exchange rate risk associated with its foreign currency denominated receivables and payables, forecasted royalties and forecasted earnings and cash flows of foreign subsidiaries and other transactions. The Company recognized gains from freestanding foreign currency exchange contracts of $ 3 million during 2024, $ 3 million of losses during 2023 and $ 2 million of gains during 2022. Such gains and losses are included in operating expenses in the Consolidated Statements of Income. </context> | us-gaap:GainLossOnForeignCurrencyDerivativesRecordedInEarningsNet |
The Company has foreign currency rate exposure to exchange rate fluctuations worldwide, particularly with respect to the Canadian Dollar, Chinese Yuan, Euro, Brazilian Real, British Pound and Argentine Peso. The Company uses foreign currency forward contracts at various times to manage and reduce the foreign currency exchange rate risk associated with its foreign currency denominated receivables and payables, forecasted royalties and forecasted earnings and cash flows of foreign subsidiaries and other transactions. The Company recognized gains from freestanding foreign currency exchange contracts of $ 3 million during 2024, $ 3 million of losses during 2023 and $ 2 million of gains during 2022. Such gains and losses are included in operating expenses in the Consolidated Statements of Income. | text | 2 | monetaryItemType | text: <entity> 2 </entity> <entity type> monetaryItemType </entity type> <context> The Company has foreign currency rate exposure to exchange rate fluctuations worldwide, particularly with respect to the Canadian Dollar, Chinese Yuan, Euro, Brazilian Real, British Pound and Argentine Peso. The Company uses foreign currency forward contracts at various times to manage and reduce the foreign currency exchange rate risk associated with its foreign currency denominated receivables and payables, forecasted royalties and forecasted earnings and cash flows of foreign subsidiaries and other transactions. The Company recognized gains from freestanding foreign currency exchange contracts of $ 3 million during 2024, $ 3 million of losses during 2023 and $ 2 million of gains during 2022. Such gains and losses are included in operating expenses in the Consolidated Statements of Income. </context> | us-gaap:GainLossOnForeignCurrencyDerivativesRecordedInEarningsNet |
The Company accounts for certain countries as a highly inflationary economy, with its exposure primarily related to Argentina. Foreign currency exchange losses related to Argentina were immaterial , $ 14 million and $ 4 million during 2024, 2023 and 2022, respectively. Such losses are included in operating expenses in the Consolidated Statements of Income. | text | immaterial | monetaryItemType | text: <entity> immaterial </entity> <entity type> monetaryItemType </entity type> <context> The Company accounts for certain countries as a highly inflationary economy, with its exposure primarily related to Argentina. Foreign currency exchange losses related to Argentina were immaterial , $ 14 million and $ 4 million during 2024, 2023 and 2022, respectively. Such losses are included in operating expenses in the Consolidated Statements of Income. </context> | us-gaap:TranslationAdjustmentFunctionalToReportingCurrencyIncreaseDecreaseGrossOfTax |
The Company accounts for certain countries as a highly inflationary economy, with its exposure primarily related to Argentina. Foreign currency exchange losses related to Argentina were immaterial , $ 14 million and $ 4 million during 2024, 2023 and 2022, respectively. Such losses are included in operating expenses in the Consolidated Statements of Income. | text | 14 | monetaryItemType | text: <entity> 14 </entity> <entity type> monetaryItemType </entity type> <context> The Company accounts for certain countries as a highly inflationary economy, with its exposure primarily related to Argentina. Foreign currency exchange losses related to Argentina were immaterial , $ 14 million and $ 4 million during 2024, 2023 and 2022, respectively. Such losses are included in operating expenses in the Consolidated Statements of Income. </context> | us-gaap:TranslationAdjustmentFunctionalToReportingCurrencyIncreaseDecreaseGrossOfTax |
The Company accounts for certain countries as a highly inflationary economy, with its exposure primarily related to Argentina. Foreign currency exchange losses related to Argentina were immaterial , $ 14 million and $ 4 million during 2024, 2023 and 2022, respectively. Such losses are included in operating expenses in the Consolidated Statements of Income. | text | 4 | monetaryItemType | text: <entity> 4 </entity> <entity type> monetaryItemType </entity type> <context> The Company accounts for certain countries as a highly inflationary economy, with its exposure primarily related to Argentina. Foreign currency exchange losses related to Argentina were immaterial , $ 14 million and $ 4 million during 2024, 2023 and 2022, respectively. Such losses are included in operating expenses in the Consolidated Statements of Income. </context> | us-gaap:TranslationAdjustmentFunctionalToReportingCurrencyIncreaseDecreaseGrossOfTax |
The Company is subject to risks relating to the geographic concentration of its hotel properties, which may result in the Company’s results of operations being more sensitive to local and regional economic conditions and other factors, including competition, natural disasters and economic downturns, than the Company’s results of operations would be, absent such geographic concentrations. Local and regional economic conditions and other factors may differ materially from prevailing conditions in other parts of the world. Excluding cost-reimbursement revenues, which are offset by cost-reimbursement expense, revenues from transactions in the states of Florida and Texas as a percent of U.S. revenues were approximately 18 %, and 11 % respectively, during 2024, 17 % and 10 %, respectively, during 2023, 24 % and 10 %, respectively, during 2022. Revenues in the state of Florida include license and other fees from the Company’s former Parent. Excluding these revenues, revenues in the state of Florida as a percent of U.S. revenues were 8 %, 7 % and 16 % during 2024, 2023 and 2022, respectively. | text | 18 | percentItemType | text: <entity> 18 </entity> <entity type> percentItemType </entity type> <context> The Company is subject to risks relating to the geographic concentration of its hotel properties, which may result in the Company’s results of operations being more sensitive to local and regional economic conditions and other factors, including competition, natural disasters and economic downturns, than the Company’s results of operations would be, absent such geographic concentrations. Local and regional economic conditions and other factors may differ materially from prevailing conditions in other parts of the world. Excluding cost-reimbursement revenues, which are offset by cost-reimbursement expense, revenues from transactions in the states of Florida and Texas as a percent of U.S. revenues were approximately 18 %, and 11 % respectively, during 2024, 17 % and 10 %, respectively, during 2023, 24 % and 10 %, respectively, during 2022. Revenues in the state of Florida include license and other fees from the Company’s former Parent. Excluding these revenues, revenues in the state of Florida as a percent of U.S. revenues were 8 %, 7 % and 16 % during 2024, 2023 and 2022, respectively. </context> | us-gaap:ConcentrationRiskPercentage1 |
The Company is subject to risks relating to the geographic concentration of its hotel properties, which may result in the Company’s results of operations being more sensitive to local and regional economic conditions and other factors, including competition, natural disasters and economic downturns, than the Company’s results of operations would be, absent such geographic concentrations. Local and regional economic conditions and other factors may differ materially from prevailing conditions in other parts of the world. Excluding cost-reimbursement revenues, which are offset by cost-reimbursement expense, revenues from transactions in the states of Florida and Texas as a percent of U.S. revenues were approximately 18 %, and 11 % respectively, during 2024, 17 % and 10 %, respectively, during 2023, 24 % and 10 %, respectively, during 2022. Revenues in the state of Florida include license and other fees from the Company’s former Parent. Excluding these revenues, revenues in the state of Florida as a percent of U.S. revenues were 8 %, 7 % and 16 % during 2024, 2023 and 2022, respectively. | text | 11 | percentItemType | text: <entity> 11 </entity> <entity type> percentItemType </entity type> <context> The Company is subject to risks relating to the geographic concentration of its hotel properties, which may result in the Company’s results of operations being more sensitive to local and regional economic conditions and other factors, including competition, natural disasters and economic downturns, than the Company’s results of operations would be, absent such geographic concentrations. Local and regional economic conditions and other factors may differ materially from prevailing conditions in other parts of the world. Excluding cost-reimbursement revenues, which are offset by cost-reimbursement expense, revenues from transactions in the states of Florida and Texas as a percent of U.S. revenues were approximately 18 %, and 11 % respectively, during 2024, 17 % and 10 %, respectively, during 2023, 24 % and 10 %, respectively, during 2022. Revenues in the state of Florida include license and other fees from the Company’s former Parent. Excluding these revenues, revenues in the state of Florida as a percent of U.S. revenues were 8 %, 7 % and 16 % during 2024, 2023 and 2022, respectively. </context> | us-gaap:ConcentrationRiskPercentage1 |
The Company is subject to risks relating to the geographic concentration of its hotel properties, which may result in the Company’s results of operations being more sensitive to local and regional economic conditions and other factors, including competition, natural disasters and economic downturns, than the Company’s results of operations would be, absent such geographic concentrations. Local and regional economic conditions and other factors may differ materially from prevailing conditions in other parts of the world. Excluding cost-reimbursement revenues, which are offset by cost-reimbursement expense, revenues from transactions in the states of Florida and Texas as a percent of U.S. revenues were approximately 18 %, and 11 % respectively, during 2024, 17 % and 10 %, respectively, during 2023, 24 % and 10 %, respectively, during 2022. Revenues in the state of Florida include license and other fees from the Company’s former Parent. Excluding these revenues, revenues in the state of Florida as a percent of U.S. revenues were 8 %, 7 % and 16 % during 2024, 2023 and 2022, respectively. | text | 17 | percentItemType | text: <entity> 17 </entity> <entity type> percentItemType </entity type> <context> The Company is subject to risks relating to the geographic concentration of its hotel properties, which may result in the Company’s results of operations being more sensitive to local and regional economic conditions and other factors, including competition, natural disasters and economic downturns, than the Company’s results of operations would be, absent such geographic concentrations. Local and regional economic conditions and other factors may differ materially from prevailing conditions in other parts of the world. Excluding cost-reimbursement revenues, which are offset by cost-reimbursement expense, revenues from transactions in the states of Florida and Texas as a percent of U.S. revenues were approximately 18 %, and 11 % respectively, during 2024, 17 % and 10 %, respectively, during 2023, 24 % and 10 %, respectively, during 2022. Revenues in the state of Florida include license and other fees from the Company’s former Parent. Excluding these revenues, revenues in the state of Florida as a percent of U.S. revenues were 8 %, 7 % and 16 % during 2024, 2023 and 2022, respectively. </context> | us-gaap:ConcentrationRiskPercentage1 |
The Company is subject to risks relating to the geographic concentration of its hotel properties, which may result in the Company’s results of operations being more sensitive to local and regional economic conditions and other factors, including competition, natural disasters and economic downturns, than the Company’s results of operations would be, absent such geographic concentrations. Local and regional economic conditions and other factors may differ materially from prevailing conditions in other parts of the world. Excluding cost-reimbursement revenues, which are offset by cost-reimbursement expense, revenues from transactions in the states of Florida and Texas as a percent of U.S. revenues were approximately 18 %, and 11 % respectively, during 2024, 17 % and 10 %, respectively, during 2023, 24 % and 10 %, respectively, during 2022. Revenues in the state of Florida include license and other fees from the Company’s former Parent. Excluding these revenues, revenues in the state of Florida as a percent of U.S. revenues were 8 %, 7 % and 16 % during 2024, 2023 and 2022, respectively. | text | 10 | percentItemType | text: <entity> 10 </entity> <entity type> percentItemType </entity type> <context> The Company is subject to risks relating to the geographic concentration of its hotel properties, which may result in the Company’s results of operations being more sensitive to local and regional economic conditions and other factors, including competition, natural disasters and economic downturns, than the Company’s results of operations would be, absent such geographic concentrations. Local and regional economic conditions and other factors may differ materially from prevailing conditions in other parts of the world. Excluding cost-reimbursement revenues, which are offset by cost-reimbursement expense, revenues from transactions in the states of Florida and Texas as a percent of U.S. revenues were approximately 18 %, and 11 % respectively, during 2024, 17 % and 10 %, respectively, during 2023, 24 % and 10 %, respectively, during 2022. Revenues in the state of Florida include license and other fees from the Company’s former Parent. Excluding these revenues, revenues in the state of Florida as a percent of U.S. revenues were 8 %, 7 % and 16 % during 2024, 2023 and 2022, respectively. </context> | us-gaap:ConcentrationRiskPercentage1 |
The Company is subject to risks relating to the geographic concentration of its hotel properties, which may result in the Company’s results of operations being more sensitive to local and regional economic conditions and other factors, including competition, natural disasters and economic downturns, than the Company’s results of operations would be, absent such geographic concentrations. Local and regional economic conditions and other factors may differ materially from prevailing conditions in other parts of the world. Excluding cost-reimbursement revenues, which are offset by cost-reimbursement expense, revenues from transactions in the states of Florida and Texas as a percent of U.S. revenues were approximately 18 %, and 11 % respectively, during 2024, 17 % and 10 %, respectively, during 2023, 24 % and 10 %, respectively, during 2022. Revenues in the state of Florida include license and other fees from the Company’s former Parent. Excluding these revenues, revenues in the state of Florida as a percent of U.S. revenues were 8 %, 7 % and 16 % during 2024, 2023 and 2022, respectively. | text | 24 | percentItemType | text: <entity> 24 </entity> <entity type> percentItemType </entity type> <context> The Company is subject to risks relating to the geographic concentration of its hotel properties, which may result in the Company’s results of operations being more sensitive to local and regional economic conditions and other factors, including competition, natural disasters and economic downturns, than the Company’s results of operations would be, absent such geographic concentrations. Local and regional economic conditions and other factors may differ materially from prevailing conditions in other parts of the world. Excluding cost-reimbursement revenues, which are offset by cost-reimbursement expense, revenues from transactions in the states of Florida and Texas as a percent of U.S. revenues were approximately 18 %, and 11 % respectively, during 2024, 17 % and 10 %, respectively, during 2023, 24 % and 10 %, respectively, during 2022. Revenues in the state of Florida include license and other fees from the Company’s former Parent. Excluding these revenues, revenues in the state of Florida as a percent of U.S. revenues were 8 %, 7 % and 16 % during 2024, 2023 and 2022, respectively. </context> | us-gaap:ConcentrationRiskPercentage1 |
The Company believes that it has adequately accrued for such matters with reserves of $ 3 million and $ 7 million as of December 31, 2024 and 2023, respectively. The Company also had receivables for certain matters which are covered by insurance. Such receivables were immaterial as of December 31, 2024 and were $ 4 million as of December 31, 2023 and are included within other current assets on the Company’s Consolidated Balance Sheets. Litigation is inherently unpredictable and, although the Company believes that its accruals are adequate and/or that it has valid defenses in these matters, unfavorable results could occur. As such, an adverse outcome from such proceedings for which claims are awarded in excess of the amounts accrued, if any, could be material to the Company with respect to earnings and/or cash flows in any given reporting period. As of December 31, 2024, the potential exposure resulting from adverse outcomes of such legal proceedings could, in the aggregate, range up to approximately $ 11 million in excess of recorded accruals. However, the Company does not believe that the impact of such litigation will result in a material liability to the Company in relation to its combined financial position or liquidity. | text | 3 | monetaryItemType | text: <entity> 3 </entity> <entity type> monetaryItemType </entity type> <context> The Company believes that it has adequately accrued for such matters with reserves of $ 3 million and $ 7 million as of December 31, 2024 and 2023, respectively. The Company also had receivables for certain matters which are covered by insurance. Such receivables were immaterial as of December 31, 2024 and were $ 4 million as of December 31, 2023 and are included within other current assets on the Company’s Consolidated Balance Sheets. Litigation is inherently unpredictable and, although the Company believes that its accruals are adequate and/or that it has valid defenses in these matters, unfavorable results could occur. As such, an adverse outcome from such proceedings for which claims are awarded in excess of the amounts accrued, if any, could be material to the Company with respect to earnings and/or cash flows in any given reporting period. As of December 31, 2024, the potential exposure resulting from adverse outcomes of such legal proceedings could, in the aggregate, range up to approximately $ 11 million in excess of recorded accruals. However, the Company does not believe that the impact of such litigation will result in a material liability to the Company in relation to its combined financial position or liquidity. </context> | us-gaap:LitigationReserve |
The Company believes that it has adequately accrued for such matters with reserves of $ 3 million and $ 7 million as of December 31, 2024 and 2023, respectively. The Company also had receivables for certain matters which are covered by insurance. Such receivables were immaterial as of December 31, 2024 and were $ 4 million as of December 31, 2023 and are included within other current assets on the Company’s Consolidated Balance Sheets. Litigation is inherently unpredictable and, although the Company believes that its accruals are adequate and/or that it has valid defenses in these matters, unfavorable results could occur. As such, an adverse outcome from such proceedings for which claims are awarded in excess of the amounts accrued, if any, could be material to the Company with respect to earnings and/or cash flows in any given reporting period. As of December 31, 2024, the potential exposure resulting from adverse outcomes of such legal proceedings could, in the aggregate, range up to approximately $ 11 million in excess of recorded accruals. However, the Company does not believe that the impact of such litigation will result in a material liability to the Company in relation to its combined financial position or liquidity. | text | 7 | monetaryItemType | text: <entity> 7 </entity> <entity type> monetaryItemType </entity type> <context> The Company believes that it has adequately accrued for such matters with reserves of $ 3 million and $ 7 million as of December 31, 2024 and 2023, respectively. The Company also had receivables for certain matters which are covered by insurance. Such receivables were immaterial as of December 31, 2024 and were $ 4 million as of December 31, 2023 and are included within other current assets on the Company’s Consolidated Balance Sheets. Litigation is inherently unpredictable and, although the Company believes that its accruals are adequate and/or that it has valid defenses in these matters, unfavorable results could occur. As such, an adverse outcome from such proceedings for which claims are awarded in excess of the amounts accrued, if any, could be material to the Company with respect to earnings and/or cash flows in any given reporting period. As of December 31, 2024, the potential exposure resulting from adverse outcomes of such legal proceedings could, in the aggregate, range up to approximately $ 11 million in excess of recorded accruals. However, the Company does not believe that the impact of such litigation will result in a material liability to the Company in relation to its combined financial position or liquidity. </context> | us-gaap:LitigationReserve |
The Company believes that it has adequately accrued for such matters with reserves of $ 3 million and $ 7 million as of December 31, 2024 and 2023, respectively. The Company also had receivables for certain matters which are covered by insurance. Such receivables were immaterial as of December 31, 2024 and were $ 4 million as of December 31, 2023 and are included within other current assets on the Company’s Consolidated Balance Sheets. Litigation is inherently unpredictable and, although the Company believes that its accruals are adequate and/or that it has valid defenses in these matters, unfavorable results could occur. As such, an adverse outcome from such proceedings for which claims are awarded in excess of the amounts accrued, if any, could be material to the Company with respect to earnings and/or cash flows in any given reporting period. As of December 31, 2024, the potential exposure resulting from adverse outcomes of such legal proceedings could, in the aggregate, range up to approximately $ 11 million in excess of recorded accruals. However, the Company does not believe that the impact of such litigation will result in a material liability to the Company in relation to its combined financial position or liquidity. | text | 4 | monetaryItemType | text: <entity> 4 </entity> <entity type> monetaryItemType </entity type> <context> The Company believes that it has adequately accrued for such matters with reserves of $ 3 million and $ 7 million as of December 31, 2024 and 2023, respectively. The Company also had receivables for certain matters which are covered by insurance. Such receivables were immaterial as of December 31, 2024 and were $ 4 million as of December 31, 2023 and are included within other current assets on the Company’s Consolidated Balance Sheets. Litigation is inherently unpredictable and, although the Company believes that its accruals are adequate and/or that it has valid defenses in these matters, unfavorable results could occur. As such, an adverse outcome from such proceedings for which claims are awarded in excess of the amounts accrued, if any, could be material to the Company with respect to earnings and/or cash flows in any given reporting period. As of December 31, 2024, the potential exposure resulting from adverse outcomes of such legal proceedings could, in the aggregate, range up to approximately $ 11 million in excess of recorded accruals. However, the Company does not believe that the impact of such litigation will result in a material liability to the Company in relation to its combined financial position or liquidity. </context> | us-gaap:InsuranceSettlementsReceivable |
The Company believes that it has adequately accrued for such matters with reserves of $ 3 million and $ 7 million as of December 31, 2024 and 2023, respectively. The Company also had receivables for certain matters which are covered by insurance. Such receivables were immaterial as of December 31, 2024 and were $ 4 million as of December 31, 2023 and are included within other current assets on the Company’s Consolidated Balance Sheets. Litigation is inherently unpredictable and, although the Company believes that its accruals are adequate and/or that it has valid defenses in these matters, unfavorable results could occur. As such, an adverse outcome from such proceedings for which claims are awarded in excess of the amounts accrued, if any, could be material to the Company with respect to earnings and/or cash flows in any given reporting period. As of December 31, 2024, the potential exposure resulting from adverse outcomes of such legal proceedings could, in the aggregate, range up to approximately $ 11 million in excess of recorded accruals. However, the Company does not believe that the impact of such litigation will result in a material liability to the Company in relation to its combined financial position or liquidity. | text | 11 | monetaryItemType | text: <entity> 11 </entity> <entity type> monetaryItemType </entity type> <context> The Company believes that it has adequately accrued for such matters with reserves of $ 3 million and $ 7 million as of December 31, 2024 and 2023, respectively. The Company also had receivables for certain matters which are covered by insurance. Such receivables were immaterial as of December 31, 2024 and were $ 4 million as of December 31, 2023 and are included within other current assets on the Company’s Consolidated Balance Sheets. Litigation is inherently unpredictable and, although the Company believes that its accruals are adequate and/or that it has valid defenses in these matters, unfavorable results could occur. As such, an adverse outcome from such proceedings for which claims are awarded in excess of the amounts accrued, if any, could be material to the Company with respect to earnings and/or cash flows in any given reporting period. As of December 31, 2024, the potential exposure resulting from adverse outcomes of such legal proceedings could, in the aggregate, range up to approximately $ 11 million in excess of recorded accruals. However, the Company does not believe that the impact of such litigation will result in a material liability to the Company in relation to its combined financial position or liquidity. </context> | us-gaap:LossContingencyRangeOfPossibleLossPortionNotAccrued |
The Company has a stock-based compensation plan available to grant non-qualified stock options, incentive stock options, stock-settled appreciation rights (“SSARs”), RSUs, performance-vesting restricted stock units (“PSUs”) and/or other stock-based awards to key employees and non-employee directors. Under the Amended and Restated Wyndham Hotels & Resorts, Inc. 2018 Equity and Incentive Plan (“Stock Plan”), which originally became effective on May 14, 2018 and was amended and restated on November 20, 2024, a maximum of 10.0 million shares of common stock may be awarded. As of December 31, 2024, 4.4 million shares remained available. | text | 10.0 | sharesItemType | text: <entity> 10.0 </entity> <entity type> sharesItemType </entity type> <context> The Company has a stock-based compensation plan available to grant non-qualified stock options, incentive stock options, stock-settled appreciation rights (“SSARs”), RSUs, performance-vesting restricted stock units (“PSUs”) and/or other stock-based awards to key employees and non-employee directors. Under the Amended and Restated Wyndham Hotels & Resorts, Inc. 2018 Equity and Incentive Plan (“Stock Plan”), which originally became effective on May 14, 2018 and was amended and restated on November 20, 2024, a maximum of 10.0 million shares of common stock may be awarded. As of December 31, 2024, 4.4 million shares remained available. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized |
The Company has a stock-based compensation plan available to grant non-qualified stock options, incentive stock options, stock-settled appreciation rights (“SSARs”), RSUs, performance-vesting restricted stock units (“PSUs”) and/or other stock-based awards to key employees and non-employee directors. Under the Amended and Restated Wyndham Hotels & Resorts, Inc. 2018 Equity and Incentive Plan (“Stock Plan”), which originally became effective on May 14, 2018 and was amended and restated on November 20, 2024, a maximum of 10.0 million shares of common stock may be awarded. As of December 31, 2024, 4.4 million shares remained available. | text | 4.4 | sharesItemType | text: <entity> 4.4 </entity> <entity type> sharesItemType </entity type> <context> The Company has a stock-based compensation plan available to grant non-qualified stock options, incentive stock options, stock-settled appreciation rights (“SSARs”), RSUs, performance-vesting restricted stock units (“PSUs”) and/or other stock-based awards to key employees and non-employee directors. Under the Amended and Restated Wyndham Hotels & Resorts, Inc. 2018 Equity and Incentive Plan (“Stock Plan”), which originally became effective on May 14, 2018 and was amended and restated on November 20, 2024, a maximum of 10.0 million shares of common stock may be awarded. As of December 31, 2024, 4.4 million shares remained available. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant |
During 2024, the Company granted incentive equity awards totaling $ 36 million to key employees and senior officers in the form of RSUs. The RSUs generally vest ratably over a period of four years based on continuous service. Additionally, the Company approved incentive equity awards to key employees and senior officers in the form of PSUs with a maximum grant value of $ 18 million. The PSUs generally cliff vest on the third anniversary of the grant date based on continuous service with the number of shares earned ( 0 % to 200 % of the target award) dependent upon the extent to which the Company achieves certain performance metrics. | text | 36 | monetaryItemType | text: <entity> 36 </entity> <entity type> monetaryItemType </entity type> <context> During 2024, the Company granted incentive equity awards totaling $ 36 million to key employees and senior officers in the form of RSUs. The RSUs generally vest ratably over a period of four years based on continuous service. Additionally, the Company approved incentive equity awards to key employees and senior officers in the form of PSUs with a maximum grant value of $ 18 million. The PSUs generally cliff vest on the third anniversary of the grant date based on continuous service with the number of shares earned ( 0 % to 200 % of the target award) dependent upon the extent to which the Company achieves certain performance metrics. </context> | us-gaap:StockIssuedDuringPeriodValueRestrictedStockAwardGross |
RSUs outstanding as of December 31, 2024 have an aggregate unrecognized compensation expense of $ 48 million, which is expected to be recognized over a weighted average period of 2.5 years. | text | 48 | monetaryItemType | text: <entity> 48 </entity> <entity type> monetaryItemType </entity type> <context> RSUs outstanding as of December 31, 2024 have an aggregate unrecognized compensation expense of $ 48 million, which is expected to be recognized over a weighted average period of 2.5 years. </context> | us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions |
PSUs outstanding as of December 31, 2024 have an aggregate maximum potential unrecognized compensation expense of $ 22 million, which may be recognized over a weighted average period of 1.8 years based on attainment of targets. | text | 22 | monetaryItemType | text: <entity> 22 </entity> <entity type> monetaryItemType </entity type> <context> PSUs outstanding as of December 31, 2024 have an aggregate maximum potential unrecognized compensation expense of $ 22 million, which may be recognized over a weighted average period of 1.8 years based on attainment of targets. </context> | us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions |
Stock-based compensation expense was $ 45 million, $ 39 million and $ 33 million for 2024, 2023 and 2022, respectively. For 2024, $ 2 million of stock-based compensation expense was recorded within both restructuring costs and transaction-related costs on the Consolidated Statements of Income. | text | 45 | monetaryItemType | text: <entity> 45 </entity> <entity type> monetaryItemType </entity type> <context> Stock-based compensation expense was $ 45 million, $ 39 million and $ 33 million for 2024, 2023 and 2022, respectively. For 2024, $ 2 million of stock-based compensation expense was recorded within both restructuring costs and transaction-related costs on the Consolidated Statements of Income. </context> | us-gaap:AllocatedShareBasedCompensationExpense |
Stock-based compensation expense was $ 45 million, $ 39 million and $ 33 million for 2024, 2023 and 2022, respectively. For 2024, $ 2 million of stock-based compensation expense was recorded within both restructuring costs and transaction-related costs on the Consolidated Statements of Income. | text | 39 | monetaryItemType | text: <entity> 39 </entity> <entity type> monetaryItemType </entity type> <context> Stock-based compensation expense was $ 45 million, $ 39 million and $ 33 million for 2024, 2023 and 2022, respectively. For 2024, $ 2 million of stock-based compensation expense was recorded within both restructuring costs and transaction-related costs on the Consolidated Statements of Income. </context> | us-gaap:AllocatedShareBasedCompensationExpense |
Stock-based compensation expense was $ 45 million, $ 39 million and $ 33 million for 2024, 2023 and 2022, respectively. For 2024, $ 2 million of stock-based compensation expense was recorded within both restructuring costs and transaction-related costs on the Consolidated Statements of Income. | text | 33 | monetaryItemType | text: <entity> 33 </entity> <entity type> monetaryItemType </entity type> <context> Stock-based compensation expense was $ 45 million, $ 39 million and $ 33 million for 2024, 2023 and 2022, respectively. For 2024, $ 2 million of stock-based compensation expense was recorded within both restructuring costs and transaction-related costs on the Consolidated Statements of Income. </context> | us-gaap:AllocatedShareBasedCompensationExpense |
Provided below is the Company’s significant segment expense disclosure for 2022. Due to the adoption of the 2023 Accounting Update, the Company is a single reporting segment managed on a consolidated basis and therefore the 2023 and 2024 significant segment expense disclosure is not comparable to 2022 as the Company had two reportable segments. | text | two | integerItemType | text: <entity> two </entity> <entity type> integerItemType </entity type> <context> Provided below is the Company’s significant segment expense disclosure for 2022. Due to the adoption of the 2023 Accounting Update, the Company is a single reporting segment managed on a consolidated basis and therefore the 2023 and 2024 significant segment expense disclosure is not comparable to 2022 as the Company had two reportable segments. </context> | us-gaap:NumberOfReportableSegments |
As a result of the Company’s evaluation of the recoverability of the carrying value of certain assets, the Company recorded an impairment charge of $ 12 million, primarily related to development advance notes, during the first quarter of 2024. The impairment charge was reported within the impairment line item on the Consolidated Statements of Income. | text | 12 | monetaryItemType | text: <entity> 12 </entity> <entity type> monetaryItemType </entity type> <context> As a result of the Company’s evaluation of the recoverability of the carrying value of certain assets, the Company recorded an impairment charge of $ 12 million, primarily related to development advance notes, during the first quarter of 2024. The impairment charge was reported within the impairment line item on the Consolidated Statements of Income. </context> | us-gaap:AssetImpairmentCharges |
During 2024, the Company approved a restructuring plan focused on enhancing its organizational efficiency. As a result, during 2024, the Company incurred $ 15 million of restructuring expenses, relating to 135 employees primarily in its Hotel Franchising segment. The following table presents activity for the year ended December 31, 2024: | text | 15 | monetaryItemType | text: <entity> 15 </entity> <entity type> monetaryItemType </entity type> <context> During 2024, the Company approved a restructuring plan focused on enhancing its organizational efficiency. As a result, during 2024, the Company incurred $ 15 million of restructuring expenses, relating to 135 employees primarily in its Hotel Franchising segment. The following table presents activity for the year ended December 31, 2024: </context> | us-gaap:RestructuringCharges |
In March 2022, the Company completed the sale of its Wyndham Grand Bonnet Creek Resort for gross proceeds of $ 121 million ($ 118 million, net of transaction costs) and recognized a $ 35 million gain, net of transaction costs, for the year ended December 31, 2022. Such amounts were attributable to the Company’s hotel management business and were reported within gain on asset sale, net on the Consolidated Statement of Income. Additionally, the Company entered into a 20 year franchise agreement with the buyer. | text | 118 | monetaryItemType | text: <entity> 118 </entity> <entity type> monetaryItemType </entity type> <context> In March 2022, the Company completed the sale of its Wyndham Grand Bonnet Creek Resort for gross proceeds of $ 121 million ($ 118 million, net of transaction costs) and recognized a $ 35 million gain, net of transaction costs, for the year ended December 31, 2022. Such amounts were attributable to the Company’s hotel management business and were reported within gain on asset sale, net on the Consolidated Statement of Income. Additionally, the Company entered into a 20 year franchise agreement with the buyer. </context> | us-gaap:ProceedsFromSaleOfProductiveAssets |
In March 2022, the Company completed the sale of its Wyndham Grand Bonnet Creek Resort for gross proceeds of $ 121 million ($ 118 million, net of transaction costs) and recognized a $ 35 million gain, net of transaction costs, for the year ended December 31, 2022. Such amounts were attributable to the Company’s hotel management business and were reported within gain on asset sale, net on the Consolidated Statement of Income. Additionally, the Company entered into a 20 year franchise agreement with the buyer. | text | 35 | monetaryItemType | text: <entity> 35 </entity> <entity type> monetaryItemType </entity type> <context> In March 2022, the Company completed the sale of its Wyndham Grand Bonnet Creek Resort for gross proceeds of $ 121 million ($ 118 million, net of transaction costs) and recognized a $ 35 million gain, net of transaction costs, for the year ended December 31, 2022. Such amounts were attributable to the Company’s hotel management business and were reported within gain on asset sale, net on the Consolidated Statement of Income. Additionally, the Company entered into a 20 year franchise agreement with the buyer. </context> | us-gaap:GainLossOnDispositionOfAssets1 |
In May 2022, the Company completed the sale of its Wyndham Grand Rio Mar Resort for gross proceeds of $ 62 million ($ 61 million, net of transaction costs). There was no gain or loss on the sale. Additionally, the Company entered into a 20 year franchise agreement with the buyer. | text | 61 | monetaryItemType | text: <entity> 61 </entity> <entity type> monetaryItemType </entity type> <context> In May 2022, the Company completed the sale of its Wyndham Grand Rio Mar Resort for gross proceeds of $ 62 million ($ 61 million, net of transaction costs). There was no gain or loss on the sale. Additionally, the Company entered into a 20 year franchise agreement with the buyer. </context> | us-gaap:ProceedsFromSaleOfProductiveAssets |
In connection with the Company’s license, development and non-competition agreement, the Company recorded license fees from former Parent in the amounts of $ 94 million, $ 90 million and $ 83 million during 2024, 2023 and 2022, respectively. Further, the Company recorded revenues of $ 19 million, $ 15 million and $ 10 million during 2024, 2023 and 2022, respectively, for activities associated with the Wyndham Rewards program. The Company also recorded license fees from a former affiliate of $ 6 million during 2024 and $ 7 million during both and 2023 and 2022. Such fees are recorded within license and other fees on the Consolidated Statements of Income. | text | 94 | monetaryItemType | text: <entity> 94 </entity> <entity type> monetaryItemType </entity type> <context> In connection with the Company’s license, development and non-competition agreement, the Company recorded license fees from former Parent in the amounts of $ 94 million, $ 90 million and $ 83 million during 2024, 2023 and 2022, respectively. Further, the Company recorded revenues of $ 19 million, $ 15 million and $ 10 million during 2024, 2023 and 2022, respectively, for activities associated with the Wyndham Rewards program. The Company also recorded license fees from a former affiliate of $ 6 million during 2024 and $ 7 million during both and 2023 and 2022. Such fees are recorded within license and other fees on the Consolidated Statements of Income. </context> | us-gaap:Revenues |
In connection with the Company’s license, development and non-competition agreement, the Company recorded license fees from former Parent in the amounts of $ 94 million, $ 90 million and $ 83 million during 2024, 2023 and 2022, respectively. Further, the Company recorded revenues of $ 19 million, $ 15 million and $ 10 million during 2024, 2023 and 2022, respectively, for activities associated with the Wyndham Rewards program. The Company also recorded license fees from a former affiliate of $ 6 million during 2024 and $ 7 million during both and 2023 and 2022. Such fees are recorded within license and other fees on the Consolidated Statements of Income. | text | 90 | monetaryItemType | text: <entity> 90 </entity> <entity type> monetaryItemType </entity type> <context> In connection with the Company’s license, development and non-competition agreement, the Company recorded license fees from former Parent in the amounts of $ 94 million, $ 90 million and $ 83 million during 2024, 2023 and 2022, respectively. Further, the Company recorded revenues of $ 19 million, $ 15 million and $ 10 million during 2024, 2023 and 2022, respectively, for activities associated with the Wyndham Rewards program. The Company also recorded license fees from a former affiliate of $ 6 million during 2024 and $ 7 million during both and 2023 and 2022. Such fees are recorded within license and other fees on the Consolidated Statements of Income. </context> | us-gaap:Revenues |
In connection with the Company’s license, development and non-competition agreement, the Company recorded license fees from former Parent in the amounts of $ 94 million, $ 90 million and $ 83 million during 2024, 2023 and 2022, respectively. Further, the Company recorded revenues of $ 19 million, $ 15 million and $ 10 million during 2024, 2023 and 2022, respectively, for activities associated with the Wyndham Rewards program. The Company also recorded license fees from a former affiliate of $ 6 million during 2024 and $ 7 million during both and 2023 and 2022. Such fees are recorded within license and other fees on the Consolidated Statements of Income. | text | 83 | monetaryItemType | text: <entity> 83 </entity> <entity type> monetaryItemType </entity type> <context> In connection with the Company’s license, development and non-competition agreement, the Company recorded license fees from former Parent in the amounts of $ 94 million, $ 90 million and $ 83 million during 2024, 2023 and 2022, respectively. Further, the Company recorded revenues of $ 19 million, $ 15 million and $ 10 million during 2024, 2023 and 2022, respectively, for activities associated with the Wyndham Rewards program. The Company also recorded license fees from a former affiliate of $ 6 million during 2024 and $ 7 million during both and 2023 and 2022. Such fees are recorded within license and other fees on the Consolidated Statements of Income. </context> | us-gaap:Revenues |
In connection with the Company’s license, development and non-competition agreement, the Company recorded license fees from former Parent in the amounts of $ 94 million, $ 90 million and $ 83 million during 2024, 2023 and 2022, respectively. Further, the Company recorded revenues of $ 19 million, $ 15 million and $ 10 million during 2024, 2023 and 2022, respectively, for activities associated with the Wyndham Rewards program. The Company also recorded license fees from a former affiliate of $ 6 million during 2024 and $ 7 million during both and 2023 and 2022. Such fees are recorded within license and other fees on the Consolidated Statements of Income. | text | 19 | monetaryItemType | text: <entity> 19 </entity> <entity type> monetaryItemType </entity type> <context> In connection with the Company’s license, development and non-competition agreement, the Company recorded license fees from former Parent in the amounts of $ 94 million, $ 90 million and $ 83 million during 2024, 2023 and 2022, respectively. Further, the Company recorded revenues of $ 19 million, $ 15 million and $ 10 million during 2024, 2023 and 2022, respectively, for activities associated with the Wyndham Rewards program. The Company also recorded license fees from a former affiliate of $ 6 million during 2024 and $ 7 million during both and 2023 and 2022. Such fees are recorded within license and other fees on the Consolidated Statements of Income. </context> | us-gaap:Revenues |
In connection with the Company’s license, development and non-competition agreement, the Company recorded license fees from former Parent in the amounts of $ 94 million, $ 90 million and $ 83 million during 2024, 2023 and 2022, respectively. Further, the Company recorded revenues of $ 19 million, $ 15 million and $ 10 million during 2024, 2023 and 2022, respectively, for activities associated with the Wyndham Rewards program. The Company also recorded license fees from a former affiliate of $ 6 million during 2024 and $ 7 million during both and 2023 and 2022. Such fees are recorded within license and other fees on the Consolidated Statements of Income. | text | 15 | monetaryItemType | text: <entity> 15 </entity> <entity type> monetaryItemType </entity type> <context> In connection with the Company’s license, development and non-competition agreement, the Company recorded license fees from former Parent in the amounts of $ 94 million, $ 90 million and $ 83 million during 2024, 2023 and 2022, respectively. Further, the Company recorded revenues of $ 19 million, $ 15 million and $ 10 million during 2024, 2023 and 2022, respectively, for activities associated with the Wyndham Rewards program. The Company also recorded license fees from a former affiliate of $ 6 million during 2024 and $ 7 million during both and 2023 and 2022. Such fees are recorded within license and other fees on the Consolidated Statements of Income. </context> | us-gaap:Revenues |
In connection with the Company’s license, development and non-competition agreement, the Company recorded license fees from former Parent in the amounts of $ 94 million, $ 90 million and $ 83 million during 2024, 2023 and 2022, respectively. Further, the Company recorded revenues of $ 19 million, $ 15 million and $ 10 million during 2024, 2023 and 2022, respectively, for activities associated with the Wyndham Rewards program. The Company also recorded license fees from a former affiliate of $ 6 million during 2024 and $ 7 million during both and 2023 and 2022. Such fees are recorded within license and other fees on the Consolidated Statements of Income. | text | 10 | monetaryItemType | text: <entity> 10 </entity> <entity type> monetaryItemType </entity type> <context> In connection with the Company’s license, development and non-competition agreement, the Company recorded license fees from former Parent in the amounts of $ 94 million, $ 90 million and $ 83 million during 2024, 2023 and 2022, respectively. Further, the Company recorded revenues of $ 19 million, $ 15 million and $ 10 million during 2024, 2023 and 2022, respectively, for activities associated with the Wyndham Rewards program. The Company also recorded license fees from a former affiliate of $ 6 million during 2024 and $ 7 million during both and 2023 and 2022. Such fees are recorded within license and other fees on the Consolidated Statements of Income. </context> | us-gaap:Revenues |
In connection with the Company’s license, development and non-competition agreement, the Company recorded license fees from former Parent in the amounts of $ 94 million, $ 90 million and $ 83 million during 2024, 2023 and 2022, respectively. Further, the Company recorded revenues of $ 19 million, $ 15 million and $ 10 million during 2024, 2023 and 2022, respectively, for activities associated with the Wyndham Rewards program. The Company also recorded license fees from a former affiliate of $ 6 million during 2024 and $ 7 million during both and 2023 and 2022. Such fees are recorded within license and other fees on the Consolidated Statements of Income. | text | 6 | monetaryItemType | text: <entity> 6 </entity> <entity type> monetaryItemType </entity type> <context> In connection with the Company’s license, development and non-competition agreement, the Company recorded license fees from former Parent in the amounts of $ 94 million, $ 90 million and $ 83 million during 2024, 2023 and 2022, respectively. Further, the Company recorded revenues of $ 19 million, $ 15 million and $ 10 million during 2024, 2023 and 2022, respectively, for activities associated with the Wyndham Rewards program. The Company also recorded license fees from a former affiliate of $ 6 million during 2024 and $ 7 million during both and 2023 and 2022. Such fees are recorded within license and other fees on the Consolidated Statements of Income. </context> | us-gaap:Revenues |
2024 finance lease payments include $ 33 million relating to the purchase of the Company's corporate headquarters. | text | 33 | monetaryItemType | text: <entity> 33 </entity> <entity type> monetaryItemType </entity type> <context> 2024 finance lease payments include $ 33 million relating to the purchase of the Company's corporate headquarters. </context> | us-gaap:FinanceLeasePrincipalPayments |
SCI Engineered Materials, Inc. (“SCI”, “we” or the “Company”), an Ohio corporation, was incorporated in 1987. The Company operates in one segment as a global supplier and manufacturer of advanced materials for Physical Vapor Deposition (“PVD”) thin film applications. The Company is focused on markets within the Photonics industry including Aerospace, Automotive, Defense, Glass, Optical Coatings, and Solar. Substantially, all revenues are generated from customers with multi-national operations. The Company develops innovative customized solutions enabling commercial success through collaboration with end users and Original Equipment Manufacturers. | text | one | integerItemType | text: <entity> one </entity> <entity type> integerItemType </entity type> <context> SCI Engineered Materials, Inc. (“SCI”, “we” or the “Company”), an Ohio corporation, was incorporated in 1987. The Company operates in one segment as a global supplier and manufacturer of advanced materials for Physical Vapor Deposition (“PVD”) thin film applications. The Company is focused on markets within the Photonics industry including Aerospace, Automotive, Defense, Glass, Optical Coatings, and Solar. Substantially, all revenues are generated from customers with multi-national operations. The Company develops innovative customized solutions enabling commercial success through collaboration with end users and Original Equipment Manufacturers. </context> | us-gaap:NumberOfOperatingSegments |
The Company uses an “expected credit loss” measurement objective for the recognition of credit losses for held-to-maturity securities at the time the financial asset is originated or acquired. The expected credit losses are adjusted each period as necessary for changes in expected lifetime credit losses. The credit loss calculations for held-to-maturity securities are based upon historical default and recovery rates of bonds rated with the same rating as the current portfolio. An adjustment factor is applied to these credit loss calculations based upon management’s assessment of the expected impact from current economic conditions on our investments. The Company monitors the credit quality of debt securities classified as held-to-maturity through the use of their respective credit ratings and updates them on a quarterly basis with the latest assessment completed on December 31, 2023. Our allowance for credit losses was $ 15,000 at December 31, 2023. | text | 15000 | monetaryItemType | text: <entity> 15000 </entity> <entity type> monetaryItemType </entity type> <context> The Company uses an “expected credit loss” measurement objective for the recognition of credit losses for held-to-maturity securities at the time the financial asset is originated or acquired. The expected credit losses are adjusted each period as necessary for changes in expected lifetime credit losses. The credit loss calculations for held-to-maturity securities are based upon historical default and recovery rates of bonds rated with the same rating as the current portfolio. An adjustment factor is applied to these credit loss calculations based upon management’s assessment of the expected impact from current economic conditions on our investments. The Company monitors the credit quality of debt securities classified as held-to-maturity through the use of their respective credit ratings and updates them on a quarterly basis with the latest assessment completed on December 31, 2023. Our allowance for credit losses was $ 15,000 at December 31, 2023. </context> | us-gaap:DebtSecuritiesHeldToMaturityAllowanceForCreditLossCurrent |
The Company’s two largest customers accounted for 78 % and 11 % of total revenue in 2023. These two customers represented 72 % of the accounts receivable trade balance at December 31, 2023, and the Company expects to collect all outstanding accounts receivable as of December 31, 2023, from these customers. | text | 78 | percentItemType | text: <entity> 78 </entity> <entity type> percentItemType </entity type> <context> The Company’s two largest customers accounted for 78 % and 11 % of total revenue in 2023. These two customers represented 72 % of the accounts receivable trade balance at December 31, 2023, and the Company expects to collect all outstanding accounts receivable as of December 31, 2023, from these customers. </context> | us-gaap:ConcentrationRiskPercentage1 |
The Company’s two largest customers accounted for 78 % and 11 % of total revenue in 2023. These two customers represented 72 % of the accounts receivable trade balance at December 31, 2023, and the Company expects to collect all outstanding accounts receivable as of December 31, 2023, from these customers. | text | 11 | percentItemType | text: <entity> 11 </entity> <entity type> percentItemType </entity type> <context> The Company’s two largest customers accounted for 78 % and 11 % of total revenue in 2023. These two customers represented 72 % of the accounts receivable trade balance at December 31, 2023, and the Company expects to collect all outstanding accounts receivable as of December 31, 2023, from these customers. </context> | us-gaap:ConcentrationRiskPercentage1 |
The Company’s two largest customers accounted for 78 % and 11 % of total revenue in 2023. These two customers represented 72 % of the accounts receivable trade balance at December 31, 2023, and the Company expects to collect all outstanding accounts receivable as of December 31, 2023, from these customers. | text | 72 | percentItemType | text: <entity> 72 </entity> <entity type> percentItemType </entity type> <context> The Company’s two largest customers accounted for 78 % and 11 % of total revenue in 2023. These two customers represented 72 % of the accounts receivable trade balance at December 31, 2023, and the Company expects to collect all outstanding accounts receivable as of December 31, 2023, from these customers. </context> | us-gaap:ConcentrationRiskPercentage1 |
includes material, labor, freight and applied overhead. Inventory reserves are established for obsolete inventory, lower of cost or net realizable value, and excess inventory quantities based on management’s estimate of net realizable value. The Company had an inventory reserve of $ 7,512 and $ 10,431 at December 31, 2023, and 2022, respectively. | text | 7512 | monetaryItemType | text: <entity> 7512 </entity> <entity type> monetaryItemType </entity type> <context> includes material, labor, freight and applied overhead. Inventory reserves are established for obsolete inventory, lower of cost or net realizable value, and excess inventory quantities based on management’s estimate of net realizable value. The Company had an inventory reserve of $ 7,512 and $ 10,431 at December 31, 2023, and 2022, respectively. </context> | us-gaap:InventoryValuationReserves |
includes material, labor, freight and applied overhead. Inventory reserves are established for obsolete inventory, lower of cost or net realizable value, and excess inventory quantities based on management’s estimate of net realizable value. The Company had an inventory reserve of $ 7,512 and $ 10,431 at December 31, 2023, and 2022, respectively. | text | 10431 | monetaryItemType | text: <entity> 10431 </entity> <entity type> monetaryItemType </entity type> <context> includes material, labor, freight and applied overhead. Inventory reserves are established for obsolete inventory, lower of cost or net realizable value, and excess inventory quantities based on management’s estimate of net realizable value. The Company had an inventory reserve of $ 7,512 and $ 10,431 at December 31, 2023, and 2022, respectively. </context> | us-gaap:InventoryValuationReserves |
G. Property and Equipment - Property and equipment are carried at cost. Depreciation is provided using the straight-line method based on the estimated useful lives of the assets. Useful lives range from three years on computer equipment to sixteen years on certain equipment. Leasehold improvements are amortized over the shorter of the estimated useful life or the term of the lease. Depreciation expense totaled $ 465,333 and $ 425,391 for the years ended December 31, 2023, and 2022, respectively. Expenditures for renewals and betterments are capitalized and expenditures for repairs and maintenance are charged to operations as incurred. | text | 465333 | monetaryItemType | text: <entity> 465333 </entity> <entity type> monetaryItemType </entity type> <context> G. Property and Equipment - Property and equipment are carried at cost. Depreciation is provided using the straight-line method based on the estimated useful lives of the assets. Useful lives range from three years on computer equipment to sixteen years on certain equipment. Leasehold improvements are amortized over the shorter of the estimated useful life or the term of the lease. Depreciation expense totaled $ 465,333 and $ 425,391 for the years ended December 31, 2023, and 2022, respectively. Expenditures for renewals and betterments are capitalized and expenditures for repairs and maintenance are charged to operations as incurred. </context> | us-gaap:Depreciation |
G. Property and Equipment - Property and equipment are carried at cost. Depreciation is provided using the straight-line method based on the estimated useful lives of the assets. Useful lives range from three years on computer equipment to sixteen years on certain equipment. Leasehold improvements are amortized over the shorter of the estimated useful life or the term of the lease. Depreciation expense totaled $ 465,333 and $ 425,391 for the years ended December 31, 2023, and 2022, respectively. Expenditures for renewals and betterments are capitalized and expenditures for repairs and maintenance are charged to operations as incurred. | text | 425391 | monetaryItemType | text: <entity> 425391 </entity> <entity type> monetaryItemType </entity type> <context> G. Property and Equipment - Property and equipment are carried at cost. Depreciation is provided using the straight-line method based on the estimated useful lives of the assets. Useful lives range from three years on computer equipment to sixteen years on certain equipment. Leasehold improvements are amortized over the shorter of the estimated useful life or the term of the lease. Depreciation expense totaled $ 465,333 and $ 425,391 for the years ended December 31, 2023, and 2022, respectively. Expenditures for renewals and betterments are capitalized and expenditures for repairs and maintenance are charged to operations as incurred. </context> | us-gaap:Depreciation |
Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. If the fair value is less than the carrying amount of the asset, a loss is recognized for the difference. During 2023, various assets totaling $ 22,478 with a net book value of $ 12,865 were considered impaired . During 2022, various assets totaling $ 83,596 with a net book value of $ 7,201 were considered impaired . This impairment is offset against gain on disposal of equipment in the Statement of Income. | text | 22478 | monetaryItemType | text: <entity> 22478 </entity> <entity type> monetaryItemType </entity type> <context> Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. If the fair value is less than the carrying amount of the asset, a loss is recognized for the difference. During 2023, various assets totaling $ 22,478 with a net book value of $ 12,865 were considered impaired . During 2022, various assets totaling $ 83,596 with a net book value of $ 7,201 were considered impaired . This impairment is offset against gain on disposal of equipment in the Statement of Income. </context> | us-gaap:ImpairmentOfLongLivedAssetsHeldForUse |
Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. If the fair value is less than the carrying amount of the asset, a loss is recognized for the difference. During 2023, various assets totaling $ 22,478 with a net book value of $ 12,865 were considered impaired . During 2022, various assets totaling $ 83,596 with a net book value of $ 7,201 were considered impaired . This impairment is offset against gain on disposal of equipment in the Statement of Income. | text | 12865 | monetaryItemType | text: <entity> 12865 </entity> <entity type> monetaryItemType </entity type> <context> Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. If the fair value is less than the carrying amount of the asset, a loss is recognized for the difference. During 2023, various assets totaling $ 22,478 with a net book value of $ 12,865 were considered impaired . During 2022, various assets totaling $ 83,596 with a net book value of $ 7,201 were considered impaired . This impairment is offset against gain on disposal of equipment in the Statement of Income. </context> | us-gaap:AssetImpairmentCharges |
Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. If the fair value is less than the carrying amount of the asset, a loss is recognized for the difference. During 2023, various assets totaling $ 22,478 with a net book value of $ 12,865 were considered impaired . During 2022, various assets totaling $ 83,596 with a net book value of $ 7,201 were considered impaired . This impairment is offset against gain on disposal of equipment in the Statement of Income. | text | 83596 | monetaryItemType | text: <entity> 83596 </entity> <entity type> monetaryItemType </entity type> <context> Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. If the fair value is less than the carrying amount of the asset, a loss is recognized for the difference. During 2023, various assets totaling $ 22,478 with a net book value of $ 12,865 were considered impaired . During 2022, various assets totaling $ 83,596 with a net book value of $ 7,201 were considered impaired . This impairment is offset against gain on disposal of equipment in the Statement of Income. </context> | us-gaap:ImpairmentOfLongLivedAssetsHeldForUse |
Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. If the fair value is less than the carrying amount of the asset, a loss is recognized for the difference. During 2023, various assets totaling $ 22,478 with a net book value of $ 12,865 were considered impaired . During 2022, various assets totaling $ 83,596 with a net book value of $ 7,201 were considered impaired . This impairment is offset against gain on disposal of equipment in the Statement of Income. | text | 7201 | monetaryItemType | text: <entity> 7201 </entity> <entity type> monetaryItemType </entity type> <context> Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. If the fair value is less than the carrying amount of the asset, a loss is recognized for the difference. During 2023, various assets totaling $ 22,478 with a net book value of $ 12,865 were considered impaired . During 2022, various assets totaling $ 83,596 with a net book value of $ 7,201 were considered impaired . This impairment is offset against gain on disposal of equipment in the Statement of Income. </context> | us-gaap:AssetImpairmentCharges |
Costs incurred to secure patents have been capitalized and amortized over the life of the patents. Cost and accumulated amortization of the patents at December 31, 2023, was $ 85,516 and $ 22,054 respectively, and cost and accumulated amortization of the patents at December 31, 2022, was $ 85,516 and $ 17,596 , respectively. Amortization expense related to patents was $ 4,457 and $ 4,414 for the years ended December 31, 2023, and 2022, respectively. Amortization expense is expected to be at least $ 4,933 for each of the next five years . | text | 85516 | monetaryItemType | text: <entity> 85516 </entity> <entity type> monetaryItemType </entity type> <context> Costs incurred to secure patents have been capitalized and amortized over the life of the patents. Cost and accumulated amortization of the patents at December 31, 2023, was $ 85,516 and $ 22,054 respectively, and cost and accumulated amortization of the patents at December 31, 2022, was $ 85,516 and $ 17,596 , respectively. Amortization expense related to patents was $ 4,457 and $ 4,414 for the years ended December 31, 2023, and 2022, respectively. Amortization expense is expected to be at least $ 4,933 for each of the next five years . </context> | us-gaap:FiniteLivedIntangibleAssetsGross |
Costs incurred to secure patents have been capitalized and amortized over the life of the patents. Cost and accumulated amortization of the patents at December 31, 2023, was $ 85,516 and $ 22,054 respectively, and cost and accumulated amortization of the patents at December 31, 2022, was $ 85,516 and $ 17,596 , respectively. Amortization expense related to patents was $ 4,457 and $ 4,414 for the years ended December 31, 2023, and 2022, respectively. Amortization expense is expected to be at least $ 4,933 for each of the next five years . | text | 22054 | monetaryItemType | text: <entity> 22054 </entity> <entity type> monetaryItemType </entity type> <context> Costs incurred to secure patents have been capitalized and amortized over the life of the patents. Cost and accumulated amortization of the patents at December 31, 2023, was $ 85,516 and $ 22,054 respectively, and cost and accumulated amortization of the patents at December 31, 2022, was $ 85,516 and $ 17,596 , respectively. Amortization expense related to patents was $ 4,457 and $ 4,414 for the years ended December 31, 2023, and 2022, respectively. Amortization expense is expected to be at least $ 4,933 for each of the next five years . </context> | us-gaap:FiniteLivedIntangibleAssetsAccumulatedAmortization |
Costs incurred to secure patents have been capitalized and amortized over the life of the patents. Cost and accumulated amortization of the patents at December 31, 2023, was $ 85,516 and $ 22,054 respectively, and cost and accumulated amortization of the patents at December 31, 2022, was $ 85,516 and $ 17,596 , respectively. Amortization expense related to patents was $ 4,457 and $ 4,414 for the years ended December 31, 2023, and 2022, respectively. Amortization expense is expected to be at least $ 4,933 for each of the next five years . | text | 17596 | monetaryItemType | text: <entity> 17596 </entity> <entity type> monetaryItemType </entity type> <context> Costs incurred to secure patents have been capitalized and amortized over the life of the patents. Cost and accumulated amortization of the patents at December 31, 2023, was $ 85,516 and $ 22,054 respectively, and cost and accumulated amortization of the patents at December 31, 2022, was $ 85,516 and $ 17,596 , respectively. Amortization expense related to patents was $ 4,457 and $ 4,414 for the years ended December 31, 2023, and 2022, respectively. Amortization expense is expected to be at least $ 4,933 for each of the next five years . </context> | us-gaap:FiniteLivedIntangibleAssetsAccumulatedAmortization |
Costs incurred to secure patents have been capitalized and amortized over the life of the patents. Cost and accumulated amortization of the patents at December 31, 2023, was $ 85,516 and $ 22,054 respectively, and cost and accumulated amortization of the patents at December 31, 2022, was $ 85,516 and $ 17,596 , respectively. Amortization expense related to patents was $ 4,457 and $ 4,414 for the years ended December 31, 2023, and 2022, respectively. Amortization expense is expected to be at least $ 4,933 for each of the next five years . | text | 4457 | monetaryItemType | text: <entity> 4457 </entity> <entity type> monetaryItemType </entity type> <context> Costs incurred to secure patents have been capitalized and amortized over the life of the patents. Cost and accumulated amortization of the patents at December 31, 2023, was $ 85,516 and $ 22,054 respectively, and cost and accumulated amortization of the patents at December 31, 2022, was $ 85,516 and $ 17,596 , respectively. Amortization expense related to patents was $ 4,457 and $ 4,414 for the years ended December 31, 2023, and 2022, respectively. Amortization expense is expected to be at least $ 4,933 for each of the next five years . </context> | us-gaap:AmortizationOfIntangibleAssets |
Costs incurred to secure patents have been capitalized and amortized over the life of the patents. Cost and accumulated amortization of the patents at December 31, 2023, was $ 85,516 and $ 22,054 respectively, and cost and accumulated amortization of the patents at December 31, 2022, was $ 85,516 and $ 17,596 , respectively. Amortization expense related to patents was $ 4,457 and $ 4,414 for the years ended December 31, 2023, and 2022, respectively. Amortization expense is expected to be at least $ 4,933 for each of the next five years . | text | 4414 | monetaryItemType | text: <entity> 4414 </entity> <entity type> monetaryItemType </entity type> <context> Costs incurred to secure patents have been capitalized and amortized over the life of the patents. Cost and accumulated amortization of the patents at December 31, 2023, was $ 85,516 and $ 22,054 respectively, and cost and accumulated amortization of the patents at December 31, 2022, was $ 85,516 and $ 17,596 , respectively. Amortization expense related to patents was $ 4,457 and $ 4,414 for the years ended December 31, 2023, and 2022, respectively. Amortization expense is expected to be at least $ 4,933 for each of the next five years . </context> | us-gaap:AmortizationOfIntangibleAssets |
J. Stock Based Compensation - Compensation cost for all stock-based awards is based on the grant date fair value and is recognized over the required service (vesting) period. Non cash stock-based compensation expense was $ 45,485 and $ 49,321 for the years ended December 31, 2023, and 2022, respectively. Non cash stock-based compensation expense includes $ 0 and $ 29,968 for stock grants awarded to the non-employee board members during 2023 and 2022, respectively. Unrecognized compensation expense was $ 0 as of December 31, 2023. There was no tax benefit recorded for this compensation cost as the expense primarily relates to incentive stock options that do not qualify for a tax deduction until, and only if, a qualifying disposition occurs. | text | 0 | monetaryItemType | text: <entity> 0 </entity> <entity type> monetaryItemType </entity type> <context> J. Stock Based Compensation - Compensation cost for all stock-based awards is based on the grant date fair value and is recognized over the required service (vesting) period. Non cash stock-based compensation expense was $ 45,485 and $ 49,321 for the years ended December 31, 2023, and 2022, respectively. Non cash stock-based compensation expense includes $ 0 and $ 29,968 for stock grants awarded to the non-employee board members during 2023 and 2022, respectively. Unrecognized compensation expense was $ 0 as of December 31, 2023. There was no tax benefit recorded for this compensation cost as the expense primarily relates to incentive stock options that do not qualify for a tax deduction until, and only if, a qualifying disposition occurs. </context> | us-gaap:ShareBasedCompensation |
J. Stock Based Compensation - Compensation cost for all stock-based awards is based on the grant date fair value and is recognized over the required service (vesting) period. Non cash stock-based compensation expense was $ 45,485 and $ 49,321 for the years ended December 31, 2023, and 2022, respectively. Non cash stock-based compensation expense includes $ 0 and $ 29,968 for stock grants awarded to the non-employee board members during 2023 and 2022, respectively. Unrecognized compensation expense was $ 0 as of December 31, 2023. There was no tax benefit recorded for this compensation cost as the expense primarily relates to incentive stock options that do not qualify for a tax deduction until, and only if, a qualifying disposition occurs. | text | 29968 | monetaryItemType | text: <entity> 29968 </entity> <entity type> monetaryItemType </entity type> <context> J. Stock Based Compensation - Compensation cost for all stock-based awards is based on the grant date fair value and is recognized over the required service (vesting) period. Non cash stock-based compensation expense was $ 45,485 and $ 49,321 for the years ended December 31, 2023, and 2022, respectively. Non cash stock-based compensation expense includes $ 0 and $ 29,968 for stock grants awarded to the non-employee board members during 2023 and 2022, respectively. Unrecognized compensation expense was $ 0 as of December 31, 2023. There was no tax benefit recorded for this compensation cost as the expense primarily relates to incentive stock options that do not qualify for a tax deduction until, and only if, a qualifying disposition occurs. </context> | us-gaap:ShareBasedCompensation |
J. Stock Based Compensation - Compensation cost for all stock-based awards is based on the grant date fair value and is recognized over the required service (vesting) period. Non cash stock-based compensation expense was $ 45,485 and $ 49,321 for the years ended December 31, 2023, and 2022, respectively. Non cash stock-based compensation expense includes $ 0 and $ 29,968 for stock grants awarded to the non-employee board members during 2023 and 2022, respectively. Unrecognized compensation expense was $ 0 as of December 31, 2023. There was no tax benefit recorded for this compensation cost as the expense primarily relates to incentive stock options that do not qualify for a tax deduction until, and only if, a qualifying disposition occurs. | text | 0 | monetaryItemType | text: <entity> 0 </entity> <entity type> monetaryItemType </entity type> <context> J. Stock Based Compensation - Compensation cost for all stock-based awards is based on the grant date fair value and is recognized over the required service (vesting) period. Non cash stock-based compensation expense was $ 45,485 and $ 49,321 for the years ended December 31, 2023, and 2022, respectively. Non cash stock-based compensation expense includes $ 0 and $ 29,968 for stock grants awarded to the non-employee board members during 2023 and 2022, respectively. Unrecognized compensation expense was $ 0 as of December 31, 2023. There was no tax benefit recorded for this compensation cost as the expense primarily relates to incentive stock options that do not qualify for a tax deduction until, and only if, a qualifying disposition occurs. </context> | us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized |
K. Research and Development - Research and development costs are expensed as incurred. Research and development expense for the years ended December 31, 2023 and 2022, was $ 501,937 and $ 375,728 , respectively. Consistent with our growth strategy, we have identified niche markets that can benefit from our expertise in custom powder solutions, such as near-infrared doped phosphors and short-wave infrared applications. These applications enable extended life of phosphors for specific nighttime identification needs of defense personnel and first responders. | text | 501937 | monetaryItemType | text: <entity> 501937 </entity> <entity type> monetaryItemType </entity type> <context> K. Research and Development - Research and development costs are expensed as incurred. Research and development expense for the years ended December 31, 2023 and 2022, was $ 501,937 and $ 375,728 , respectively. Consistent with our growth strategy, we have identified niche markets that can benefit from our expertise in custom powder solutions, such as near-infrared doped phosphors and short-wave infrared applications. These applications enable extended life of phosphors for specific nighttime identification needs of defense personnel and first responders. </context> | us-gaap:ResearchAndDevelopmentExpense |
K. Research and Development - Research and development costs are expensed as incurred. Research and development expense for the years ended December 31, 2023 and 2022, was $ 501,937 and $ 375,728 , respectively. Consistent with our growth strategy, we have identified niche markets that can benefit from our expertise in custom powder solutions, such as near-infrared doped phosphors and short-wave infrared applications. These applications enable extended life of phosphors for specific nighttime identification needs of defense personnel and first responders. | text | 375728 | monetaryItemType | text: <entity> 375728 </entity> <entity type> monetaryItemType </entity type> <context> K. Research and Development - Research and development costs are expensed as incurred. Research and development expense for the years ended December 31, 2023 and 2022, was $ 501,937 and $ 375,728 , respectively. Consistent with our growth strategy, we have identified niche markets that can benefit from our expertise in custom powder solutions, such as near-infrared doped phosphors and short-wave infrared applications. These applications enable extended life of phosphors for specific nighttime identification needs of defense personnel and first responders. </context> | us-gaap:ResearchAndDevelopmentExpense |
N. Recent Accounting Pronouncements – In June 2016, the FASB issued ASU No. 2016-13 “Credit Losses - Measurement of Credit Losses on Financial Instruments.” ASU No. 2016-13 significantly changes how entities measure credit losses for most financial assets, including accounts receivable and held-to-maturity marketable securities, by replacing today’s “incurred loss” approach with an “expected loss” model under which allowances will be recognized based on expected rather than incurred losses. ASU No. 2016-13 became effective for us in the first quarter of 2023. The adoption of ASU No. 2016-13 resulted in a cumulative effect of $ 5,000 and is reflected in the accompanying Statement of Shareholders’ Equity. | text | 5000 | monetaryItemType | text: <entity> 5000 </entity> <entity type> monetaryItemType </entity type> <context> N. Recent Accounting Pronouncements – In June 2016, the FASB issued ASU No. 2016-13 “Credit Losses - Measurement of Credit Losses on Financial Instruments.” ASU No. 2016-13 significantly changes how entities measure credit losses for most financial assets, including accounts receivable and held-to-maturity marketable securities, by replacing today’s “incurred loss” approach with an “expected loss” model under which allowances will be recognized based on expected rather than incurred losses. ASU No. 2016-13 became effective for us in the first quarter of 2023. The adoption of ASU No. 2016-13 resulted in a cumulative effect of $ 5,000 and is reflected in the accompanying Statement of Shareholders’ Equity. </context> | us-gaap:StockholdersEquity |
Money market funds, where quoted prices are available in an active securities market, are classified within level 1 of the valuation hierarchy. During 2023, the Company invested in a money market fund which had a fair value of $ 3,035,547 at December 31, 2023. This is valued at original cost plus interest and is included in Cash and cash equivalents on the balance sheet. | text | 3035547 | monetaryItemType | text: <entity> 3035547 </entity> <entity type> monetaryItemType </entity type> <context> Money market funds, where quoted prices are available in an active securities market, are classified within level 1 of the valuation hierarchy. During 2023, the Company invested in a money market fund which had a fair value of $ 3,035,547 at December 31, 2023. This is valued at original cost plus interest and is included in Cash and cash equivalents on the balance sheet. </context> | us-gaap:HeldToMaturitySecuritiesFairValue |
The Company uses an “expected credit loss” measurement objective for the recognition of credit losses for held-to-maturity securities at the time the financial asset is originated or acquired. The expected credit losses are adjusted each period as necessary for changes in expected lifetime credit losses. The credit loss calculations for held-to-maturity securities are based upon historical default and recovery rates of bonds rated with the same rating as the current portfolio. An adjustment factor is applied to these credit loss calculations based upon management’s assessment of the expected impact from current economic conditions on our investments. The Company monitors the credit quality of debt securities classified as held-to-maturity through the use of their respective credit ratings and updates them on a quarterly basis with the latest assessment completed during December 2023. Our allowance for credit losses was $ 15,000 at December 31, 2023. | text | 15000 | monetaryItemType | text: <entity> 15000 </entity> <entity type> monetaryItemType </entity type> <context> The Company uses an “expected credit loss” measurement objective for the recognition of credit losses for held-to-maturity securities at the time the financial asset is originated or acquired. The expected credit losses are adjusted each period as necessary for changes in expected lifetime credit losses. The credit loss calculations for held-to-maturity securities are based upon historical default and recovery rates of bonds rated with the same rating as the current portfolio. An adjustment factor is applied to these credit loss calculations based upon management’s assessment of the expected impact from current economic conditions on our investments. The Company monitors the credit quality of debt securities classified as held-to-maturity through the use of their respective credit ratings and updates them on a quarterly basis with the latest assessment completed during December 2023. Our allowance for credit losses was $ 15,000 at December 31, 2023. </context> | us-gaap:DebtSecuritiesHeldToMaturityAllowanceForCreditLoss |
The Company renewed its line of credit with Fifth Third Bank for $ 1 million during 2023. The line of credit bears interest equal to the rate of interest per annum established by Fifth Third Bank as its Prime Rate. This line of credit has a maturity date of August 29, 2024. No amounts were drawn on this line of credit during 2023 or 2022. | text | 1 | monetaryItemType | text: <entity> 1 </entity> <entity type> monetaryItemType </entity type> <context> The Company renewed its line of credit with Fifth Third Bank for $ 1 million during 2023. The line of credit bears interest equal to the rate of interest per annum established by Fifth Third Bank as its Prime Rate. This line of credit has a maturity date of August 29, 2024. No amounts were drawn on this line of credit during 2023 or 2022. </context> | us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity |
The Company entered into an operating lease with a third party on March 18, 2014, for its headquarters in Columbus, Ohio. The terms of the lease include monthly payments ranging from $ 9,400 to $ 9,700 with an expiration date of November 30, 2024. The Company has the option to extend the lease period for an additional five years beyond the expiration date and renewal negotiations are expected to commence in the first quarter of 2024. During 2023, the Company determined that it was reasonably certain to renew its operating lease. Therefore, an increase to the right of use asset and operating lease liabilities totaling $ 499,124 has been reflected in the accompanying financial statements for the year ended December 31, 2023. There are no restrictions or covenants associated with the lease. The lease costs were approximately $ 115,000 and $ 113,000 during the years ended December 31, 2023 and 2022, respectively. | text | 115000 | monetaryItemType | text: <entity> 115000 </entity> <entity type> monetaryItemType </entity type> <context> The Company entered into an operating lease with a third party on March 18, 2014, for its headquarters in Columbus, Ohio. The terms of the lease include monthly payments ranging from $ 9,400 to $ 9,700 with an expiration date of November 30, 2024. The Company has the option to extend the lease period for an additional five years beyond the expiration date and renewal negotiations are expected to commence in the first quarter of 2024. During 2023, the Company determined that it was reasonably certain to renew its operating lease. Therefore, an increase to the right of use asset and operating lease liabilities totaling $ 499,124 has been reflected in the accompanying financial statements for the year ended December 31, 2023. There are no restrictions or covenants associated with the lease. The lease costs were approximately $ 115,000 and $ 113,000 during the years ended December 31, 2023 and 2022, respectively. </context> | us-gaap:OperatingLeaseCost |
The Company entered into an operating lease with a third party on March 18, 2014, for its headquarters in Columbus, Ohio. The terms of the lease include monthly payments ranging from $ 9,400 to $ 9,700 with an expiration date of November 30, 2024. The Company has the option to extend the lease period for an additional five years beyond the expiration date and renewal negotiations are expected to commence in the first quarter of 2024. During 2023, the Company determined that it was reasonably certain to renew its operating lease. Therefore, an increase to the right of use asset and operating lease liabilities totaling $ 499,124 has been reflected in the accompanying financial statements for the year ended December 31, 2023. There are no restrictions or covenants associated with the lease. The lease costs were approximately $ 115,000 and $ 113,000 during the years ended December 31, 2023 and 2022, respectively. | text | 113000 | monetaryItemType | text: <entity> 113000 </entity> <entity type> monetaryItemType </entity type> <context> The Company entered into an operating lease with a third party on March 18, 2014, for its headquarters in Columbus, Ohio. The terms of the lease include monthly payments ranging from $ 9,400 to $ 9,700 with an expiration date of November 30, 2024. The Company has the option to extend the lease period for an additional five years beyond the expiration date and renewal negotiations are expected to commence in the first quarter of 2024. During 2023, the Company determined that it was reasonably certain to renew its operating lease. Therefore, an increase to the right of use asset and operating lease liabilities totaling $ 499,124 has been reflected in the accompanying financial statements for the year ended December 31, 2023. There are no restrictions or covenants associated with the lease. The lease costs were approximately $ 115,000 and $ 113,000 during the years ended December 31, 2023 and 2022, respectively. </context> | us-gaap:OperatingLeaseCost |
Employees received compensation of 10,683 and 4,500 aggregate shares of Common Stock of the Company during 2023 and 2022, respectively, which had an aggregate value of $ 43,908 and $ 14,625 , respectively, and was recorded as noncash stock-based compensation expense in the financial statements. | text | 10683 | sharesItemType | text: <entity> 10683 </entity> <entity type> sharesItemType </entity type> <context> Employees received compensation of 10,683 and 4,500 aggregate shares of Common Stock of the Company during 2023 and 2022, respectively, which had an aggregate value of $ 43,908 and $ 14,625 , respectively, and was recorded as noncash stock-based compensation expense in the financial statements. </context> | us-gaap:StockIssuedDuringPeriodSharesNewIssues |
Employees received compensation of 10,683 and 4,500 aggregate shares of Common Stock of the Company during 2023 and 2022, respectively, which had an aggregate value of $ 43,908 and $ 14,625 , respectively, and was recorded as noncash stock-based compensation expense in the financial statements. | text | 4500 | sharesItemType | text: <entity> 4500 </entity> <entity type> sharesItemType </entity type> <context> Employees received compensation of 10,683 and 4,500 aggregate shares of Common Stock of the Company during 2023 and 2022, respectively, which had an aggregate value of $ 43,908 and $ 14,625 , respectively, and was recorded as noncash stock-based compensation expense in the financial statements. </context> | us-gaap:StockIssuedDuringPeriodSharesNewIssues |
Employees received compensation of 10,683 and 4,500 aggregate shares of Common Stock of the Company during 2023 and 2022, respectively, which had an aggregate value of $ 43,908 and $ 14,625 , respectively, and was recorded as noncash stock-based compensation expense in the financial statements. | text | 43908 | monetaryItemType | text: <entity> 43908 </entity> <entity type> monetaryItemType </entity type> <context> Employees received compensation of 10,683 and 4,500 aggregate shares of Common Stock of the Company during 2023 and 2022, respectively, which had an aggregate value of $ 43,908 and $ 14,625 , respectively, and was recorded as noncash stock-based compensation expense in the financial statements. </context> | us-gaap:StockIssuedDuringPeriodValueNewIssues |
Employees received compensation of 10,683 and 4,500 aggregate shares of Common Stock of the Company during 2023 and 2022, respectively, which had an aggregate value of $ 43,908 and $ 14,625 , respectively, and was recorded as noncash stock-based compensation expense in the financial statements. | text | 14625 | monetaryItemType | text: <entity> 14625 </entity> <entity type> monetaryItemType </entity type> <context> Employees received compensation of 10,683 and 4,500 aggregate shares of Common Stock of the Company during 2023 and 2022, respectively, which had an aggregate value of $ 43,908 and $ 14,625 , respectively, and was recorded as noncash stock-based compensation expense in the financial statements. </context> | us-gaap:StockIssuedDuringPeriodValueNewIssues |
The non-employee Board members received compensation of 8,755 shares of Common Stock of the Company during 2022. The stock had an aggregate value of $ 29,967 and was recorded as non-cash stock compensation expense in the financial statements. | text | 8755 | sharesItemType | text: <entity> 8755 </entity> <entity type> sharesItemType </entity type> <context> The non-employee Board members received compensation of 8,755 shares of Common Stock of the Company during 2022. The stock had an aggregate value of $ 29,967 and was recorded as non-cash stock compensation expense in the financial statements. </context> | us-gaap:StockIssuedDuringPeriodSharesNewIssues |
The non-employee Board members received compensation of 8,755 shares of Common Stock of the Company during 2022. The stock had an aggregate value of $ 29,967 and was recorded as non-cash stock compensation expense in the financial statements. | text | 29967 | monetaryItemType | text: <entity> 29967 </entity> <entity type> monetaryItemType </entity type> <context> The non-employee Board members received compensation of 8,755 shares of Common Stock of the Company during 2022. The stock had an aggregate value of $ 29,967 and was recorded as non-cash stock compensation expense in the financial statements. </context> | us-gaap:StockIssuedDuringPeriodValueNewIssues |
On June 10, 2011, shareholders approved the SCI Engineered Materials, Inc. 2011 Stock Incentive Plan (the “2011 Plan”). The Company adopted the 2011 Plan as incentive to key employees, directors, and consultants under which options to purchase up to 250,000 shares of the Company’s common stock may be granted, subject to the execution of stock option agreements. Incentive stock options may be granted to key employees of the Company and non-statutory options may be granted to directors who are not | text | 250000 | sharesItemType | text: <entity> 250000 </entity> <entity type> sharesItemType </entity type> <context> On June 10, 2011, shareholders approved the SCI Engineered Materials, Inc. 2011 Stock Incentive Plan (the “2011 Plan”). The Company adopted the 2011 Plan as incentive to key employees, directors, and consultants under which options to purchase up to 250,000 shares of the Company’s common stock may be granted, subject to the execution of stock option agreements. Incentive stock options may be granted to key employees of the Company and non-statutory options may be granted to directors who are not </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized |
employees and to consultants and advisors who render services to the Company. Options may be exercised for periods up to 10 years from the date of grant at prices not less than 100 % of fair market value on the date of grant. As of December 31, 2023, there were 21,061 stock options outstanding from the 2011 Plan which expire in May 2028. | text | 100 | percentItemType | text: <entity> 100 </entity> <entity type> percentItemType </entity type> <context> employees and to consultants and advisors who render services to the Company. Options may be exercised for periods up to 10 years from the date of grant at prices not less than 100 % of fair market value on the date of grant. As of December 31, 2023, there were 21,061 stock options outstanding from the 2011 Plan which expire in May 2028. </context> | us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardPurchasePriceOfCommonStockPercent |
employees and to consultants and advisors who render services to the Company. Options may be exercised for periods up to 10 years from the date of grant at prices not less than 100 % of fair market value on the date of grant. As of December 31, 2023, there were 21,061 stock options outstanding from the 2011 Plan which expire in May 2028. | text | 21061 | sharesItemType | text: <entity> 21061 </entity> <entity type> sharesItemType </entity type> <context> employees and to consultants and advisors who render services to the Company. Options may be exercised for periods up to 10 years from the date of grant at prices not less than 100 % of fair market value on the date of grant. As of December 31, 2023, there were 21,061 stock options outstanding from the 2011 Plan which expire in May 2028. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber |
On June 9, 2006, shareholders approved the Superconductive Components, Inc. 2006 Stock Incentive Plan (the “2006 Plan”). The Company adopted the 2006 Plan as incentive to key employees, directors, and consultants under which options to purchase up to 600,000 shares of the Company’s common stock may be granted, subject to the execution of stock option agreements. Incentive stock options may be granted to key employees of the Company and non-statutory options may be granted to directors who are not employees and to consultants and advisors who render services to the Company. Options may be exercised for periods up to 10 years from the date of grant at prices not less than 100 % of fair market value on the date of grant. The 2006 Plan expired in 2016 and no additional stock options may be granted. As of December 31, 2023, there were 20,243 stock options outstanding from the 2006 Plan which expire in November 2024. | text | 600000 | sharesItemType | text: <entity> 600000 </entity> <entity type> sharesItemType </entity type> <context> On June 9, 2006, shareholders approved the Superconductive Components, Inc. 2006 Stock Incentive Plan (the “2006 Plan”). The Company adopted the 2006 Plan as incentive to key employees, directors, and consultants under which options to purchase up to 600,000 shares of the Company’s common stock may be granted, subject to the execution of stock option agreements. Incentive stock options may be granted to key employees of the Company and non-statutory options may be granted to directors who are not employees and to consultants and advisors who render services to the Company. Options may be exercised for periods up to 10 years from the date of grant at prices not less than 100 % of fair market value on the date of grant. The 2006 Plan expired in 2016 and no additional stock options may be granted. As of December 31, 2023, there were 20,243 stock options outstanding from the 2006 Plan which expire in November 2024. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized |
On June 9, 2006, shareholders approved the Superconductive Components, Inc. 2006 Stock Incentive Plan (the “2006 Plan”). The Company adopted the 2006 Plan as incentive to key employees, directors, and consultants under which options to purchase up to 600,000 shares of the Company’s common stock may be granted, subject to the execution of stock option agreements. Incentive stock options may be granted to key employees of the Company and non-statutory options may be granted to directors who are not employees and to consultants and advisors who render services to the Company. Options may be exercised for periods up to 10 years from the date of grant at prices not less than 100 % of fair market value on the date of grant. The 2006 Plan expired in 2016 and no additional stock options may be granted. As of December 31, 2023, there were 20,243 stock options outstanding from the 2006 Plan which expire in November 2024. | text | 100 | percentItemType | text: <entity> 100 </entity> <entity type> percentItemType </entity type> <context> On June 9, 2006, shareholders approved the Superconductive Components, Inc. 2006 Stock Incentive Plan (the “2006 Plan”). The Company adopted the 2006 Plan as incentive to key employees, directors, and consultants under which options to purchase up to 600,000 shares of the Company’s common stock may be granted, subject to the execution of stock option agreements. Incentive stock options may be granted to key employees of the Company and non-statutory options may be granted to directors who are not employees and to consultants and advisors who render services to the Company. Options may be exercised for periods up to 10 years from the date of grant at prices not less than 100 % of fair market value on the date of grant. The 2006 Plan expired in 2016 and no additional stock options may be granted. As of December 31, 2023, there were 20,243 stock options outstanding from the 2006 Plan which expire in November 2024. </context> | us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardPurchasePriceOfCommonStockPercent |
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