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Stock-Based Compensation Plans (Tables) | 12 Months Ended
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Dec. 31, 2022
Share-Based Payment Arrangement [Abstract] |
Schedule of Equity-Settled PRSUs Issued | A summary of the Company’s outstanding equity-settled PRSUs is presented below:
|  | Equity-Settled PRSUs |  | Weighted Average Grant-Date Fair Value
Equity-settled PRSUs outstanding at December 31, 2021 |  | 2,655,598 |  |  | $ | 34.20 |
Grants |  | 249,292 |  |  | $ | 83.74 |
Vests |  | (1,525,632) |  |  | $ | 21.06 |
Performance adjustment |  | 69,639 |  |  | $ | 83.80 |
Forfeitures and adjustments |  | (26,476) |  |  | $ | 67.76 |
Equity-settled PRSUs outstanding at December 31, 2022 |  | 1,422,421 |  |  | $ | 58.78 |
Schedule of Unrecognized Compensation Expense | The following table summarizes information about equity-settled PRSU awards:
|  | Year Ended
|  | December 31,
|  | 2022 |  | 2021 |  | 2020
|  | (in thousands)
Equity-settled PRSU compensation expense |  | $ | 30,645 |  |  | $ | 30,633 |  |  | $ | 27,809 |
Income tax benefit |  | $ | (34,711) |  |  | $ | (16,374) |  |  | $ | (10,261) |
The following table summarizes information about options awards:
|  | Year Ended
|  | December 31,
|  | 2022 |  | 2021 |  | 2020
|  | (in thousands)
Options compensation expense |  | $ | 2,097 |  |  | $ | 5,327 |  |  | $ | 6,118 |
Income tax benefit |  | $ | (12,894) |  |  | $ | (69,868) |  |  | $ | (57,457) |
As of December 31, 2022, total unrecognized compensation expense related to unvested stock-based compensation arrangements and the expected recognition period are as follows:
|  | Equity-Settled PRSUs |  | Options |  | RSUs
|  | (dollars in thousands)
Total unrecognized compensation cost |  | $ | 25,045 |  |  | $ | 741 |  |  | $ | 30,023 |
Weighted-average recognition period (in years) |  | 1.6 |  | 0.9 |  | 1.8
Schedule of Options Issued | A summary of the Company’s outstanding options is presented below:
|  | Options |  | Weighted Average Grant-Date Fair Value |  | Weighted Average Exercise Price
Options outstanding at December 31, 2021 |  | 3,415,288 |  |  | $ | 2.92 |  |  | $ | 23.59 |
Grants |  | — |  |  | $ | — |  |  | $ | — |
Exercises |  | (1,049,475) |  |  | $ | 2.85 |  |  | $ | 23.52 |
Forfeitures and adjustments |  | — |  |  | $ | — |  |  | $ | — |
Expired |  | — |  |  | $ | — |  |  | $ | — |
Options outstanding at December 31, 2022 |  | 2,365,813 |  |  | $ | 2.95 |  |  | $ | 23.62 |
Vested options outstanding at December 31, 2022 - all exercisable |  | 2,109,563 |  |  | $ | 2.06 |  |  | $ | 20.94 |
Summary of Outstanding RSUs | A summary of the Company’s outstanding RSUs is presented below:
|  | RSUs |  | Weighted Average Grant-Date Fair Value
RSUs outstanding at December 31, 2021 |  | 683,764 |  |  | $ | 58.28 |
Grants |  | 485,046 |  |  | $ | 80.27 |
Vests |  | (288,904) |  |  | $ | 55.43 |
Forfeitures |  | (15,243) |  |  | $ | 63.66 |
RSUs outstanding at December 31, 2022 |  | 864,663 |  |  | $ | 71.47 |
Summary of RSU Activity | The following table summarizes information about RSU awards:
|  | Year Ended
|  | December 31,
|  | 2022 |  | 2021 |  | 2020
|  | (in thousands) |  |
RSU compensation expense |  | $ | 33,902 |  |  | $ | 15,983 |  |  | $ | 5,359 |
Income tax benefit |  | $ | (10,096) |  |  | $ | (5,416) |  |  | $ | (311) |
Schedule of Total Stock-based Compensation Expense | A summary of the Company’s total stock-based compensation expense relating to its equity-settled PRSUs, options and RSUs, including the CEO Retirement Accelerated Stock-Based Compensation Expense, is presented below:
|  | Year Ended
|  | December 31,
|  | 2022 |  | 2021 |  | 2020
|  | (in thousands)
Total stock-based compensation expense |  | $ | 66,644 |  |  | $ | 51,943 |  |  | $ | 39,286 |

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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of cost not yet recognized and weighted-average period over which cost is expected to be recognized for nonvested award under share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (i) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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