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Stock-Based Compensation Plans (Tables)

12 Months Ended

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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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.

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