XML 27 R16.htm IDEA: XBRL DOCUMENT
v3.25.2

LONG-TERM INCENTIVE COMPENSATION | 6 Months Ended
--- | ---
Jun. 30, 2025
Share-Based Payment Arrangement [Abstract] |
LONG-TERM INCENTIVE COMPENSATION | LONG-TERM INCENTIVE COMPENSATION. STOCK OPTIONS. The following table summarizes the status of, and changes in, our stock options during the six months ended June 30, 2025.
| Options |  | Weighted- average exercise price
Outstanding at December 31, 2024 | 661,377 |  |  | $ | 73.76 |
Exercised | (367,630) |  |  | $ | 76.88 |
Expired | (1,560) |  |  | $ | 79.71 |
Outstanding and exercisable at June 30, 2025 | 292,187 |  |  | $ | 69.81 |
RESTRICTED SHARES AND STOCK UNITS. The following table summarizes the status of, and changes in, our nonvested restricted stock units during the six months ended June 30, 2025.
|  |  | Restricted stock units |  | Weighted-average fair value
Nonvested at December 31, 2024 |  |  | 6,001,579 |  |  | $ | 124.73 |
Time-based grants |  |  | 21,511 |  |  | $ | 99.77 |
Vested |  |  | (21,304) |  |  | $ | 124.40 |
Forfeited |  |  | (122,769) |  |  | $ | 126.89 |
Nonvested at June 30, 2025 |  |  | 5,879,017 |  |  | $ | 124.60 |
Nonvested at June 30, 2025 includes performance-based restricted stock units of 359,941. These nonvested performance-based restricted stock units include 102,345 units for which the performance period has lapsed, and the performance threshold has been met. FUTURE STOCK-BASED COMPENSATION EXPENSE. The following table presents the compensation expense to be recognized over the remaining vesting periods of the stock-based awards outstanding at June 30, 2025. Estimated future compensation expense will change to reflect future grants of restricted stock awards and units, future option grants, changes in the probability of performance thresholds being met, and adjustments for actual forfeitures.
(in millions) |
Third quarter 2025 | $ | 51.0 |
Fourth quarter 2025 | 44.3 |
2026 | 99.3 |
2027 through 2030 | 66.4 |
Total | $ | 261.0 |
RESTRICTED FUND UNITS. Below is a roll forward of the restricted fund units liability which is reported in deferred compensation liabilities on the unaudited consolidated balance sheet.
(in millions) |
Balance at December 31, 2024 | $ | 14.7 |
Amortization of grant date value | 22.9 |
Amortization of market appreciation (depreciation) | 2.3 |
Balance at June 30, 2025 | $ | 39.9 |
The following table presents the compensation expense to be recognized over the remaining vesting periods of the restricted fund units outstanding at June 30, 2025. Estimated future compensation expense will change to reflect future grants, changes in the market value of the restricted fund units which is based on selected hypothetical investments, and adjustments for actual forfeitures. The grants outstanding will vest by 2029.
(in millions) |  |  |
Third quarter 2025 |  |  | $ | 11.7 |
Fourth quarter 2025 |  |  | 9.6 |
2026 |  |  | 24.1 |
2027 through 2029 |  |  | 22.6 |
Total |  |  | $ | 68.0 |

X
- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (l) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2)(i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 4: http://www.xbrl.org/2003/role/exampleRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/718/tableOfContent Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration