XML 34 R23.htm IDEA: XBRL DOCUMENT
v3.24.1.u1

STOCK-BASED COMPENSATION | 3 Months Ended
--- | ---
Mar. 31, 2024
Share-Based Payment Arrangement [Abstract] |
STOCK-BASED COMPENSATION | STOCK-BASED COMPENSATION Total stock-based compensation cost recognized for the three months ended March 31, 2024 and March 31, 2023 was $6.3 million and $6.0 million, respectively. The total income tax benefit recognized in the consolidated statements of operations from stock-based compensation expense for the three months ended March 31, 2024 and March 31, 2023 was $1.2 million and $1.0 million, respectively. Restricted Stock Awards The following table summarizes information about restricted stock awards for the three months ended March 31, 2024:
Restricted Stock | Number of Shares |  | Weighted Average Grant-Date Fair Value
Balance at January 1, 2024 | 414,623 |  |  | $ | 114.02 |
Granted | 86,523 |  |  | 173.18 |
Vested | (21,092) |  |  | 112.02 |
Forfeited | (6,690) |  |  | 128.70 |
Balance at March 31, 2024 | 473,364 |  |  | $ | 124.71 |
As of March 31, 2024, there was $43.9 million of total unrecognized compensation cost arising from restricted stock awards. This cost is expected to be recognized over a weighted average period of 3.3 years. The total fair value of restricted stock vested during the three months ended March 31, 2024 and March 31, 2023 was $3.7 million and $2.1 million, respectively. Performance Stock Awards Performance stock awards are subject to performance criteria established by the Compensation and Human Capital Committee of the Company’s Board of Directors prior to or at the date of grant. The performance stock awards are earned based on achieving certain revenue, Adjusted EBITDA Margin, Return on Invested Capital and Total Recordable Incident Rate targets. Performance stock awards include continued service conditions through vesting. The following table summarizes information about performance stock awards for the three months ended March 31, 2024:
Performance Stock | Number of Shares |  | Weighted Average Grant-Date Fair Value
Balance at January 1, 2024 | 181,284 |  |  | $ | 114.10 |
Granted | 77,476 |  |  | 172.76 |
Vested | (19,589) |  |  | 104.31 |
Forfeited | (1,275) |  |  | 127.75 |
Balance at March 31, 2024 | 237,896 |  |  | $ | 133.94 |
As of March 31, 2024, there was $7.4 million of total unrecognized compensation cost arising from performance stock awards deemed probable of vesting. The total fair value of performance awards vested during the three months ended March 31, 2024 and March 31, 2023 was $3.7 million and $7.8 million, respectively.

X
- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: 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 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//718/tableOfContent Reference 3: 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 4: 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 Reference 5: 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 6: 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 + 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