XML 47 R37.htm IDEA: XBRL DOCUMENT
v3.24.2

STOCK-BASED COMPENSATION (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2024
Share-Based Payment Arrangement [Abstract] |
Summary of Stock Option Activity Under the Stock Plans | A summary of stock option activity under the Stock Plans is as follows:
|  | Option Shares |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Term (Years) |  | Aggregate Intrinsic Value (1)
(Aggregate intrinsic value in thousands) |  |  |  |  |  |  |  |
Outstanding, January 1, 2024 |  | 1,286,173 |  |  | $ | 47.67 |  |  | 3.8 |  |
Exercised |  | (141,503) |  |  | 15.44 |  |  |  |  |
Forfeited |  | (17,164) |  |  | 94.85 |  |  |  |  |
Outstanding, June 30, 2024 |  | 1,127,506 |  |  | $ | 51.00 |  |  | 3.6 |  | $ | 11,834 |
Vested and expected to vest, June 30, 2024 |  | 1,127,506 |  |  | $ | 51.00 |  |  | 3.6 |  | $ | 11,834 |
Exercisable, June 30, 2024 |  | 1,127,506 |  |  | $ | 51.00 |  |  | 3.6 |  | $ | 11,834 |
______________ (1)The total intrinsic value of options exercised, net of shares withheld for taxes, during the six months ended June 30, 2024 and 2023 was $3.3 million and $7.0 million, respectively, determined as of the date of exercise.
Summary of Restricted Stock and Restricted Stock Unit Activity Under the Stock Plans | A summary of restricted stock and RSU activity during the six months ended June 30, 2024 is as follows:
|  | Restricted Shares |  | Weighted Average Grant Date Fair Value (1)
Outstanding, January 1, 2024 |  | 6,272,763 |  |  | $ | 73.39 |
Granted |  | 3,937,097 |  |  | 57.38 |
Released (2) |  | (1,924,514) |  |  | 79.93 |
Forfeited |  | (504,123) |  |  | 64.23 |
Outstanding, June 30, 2024 |  | 7,781,223 |  |  | $ | 63.97 |
______________ (1)The weighted average grant date fair value of the RSUs granted during the six months ended June 30, 2023 was $60.94. (2)The fair value of RSUs vested and converted to shares of the Company’s common stock was $153.4 million and $130.5 million during the six months ended June 30, 2024 and 2023, respectively.
Share-based Payment Arrangement, Performance Shares, Activity | A summary of PSU activity during the six months ended June 30, 2024 is as follows:
|  | Performance Share Units (1) |  | Weighted Average Grant Date Fair Value (2)
Outstanding, January 1, 2024 |  | 1,597,801 |  |  | $ | 92.73 |
Granted |  | 913,533 |  |  | 63.68 |
Released (3) |  | (70,662) |  |  | 140.20 |
Forfeited |  | (336,852) |  |  | 106.06 |
Outstanding, June 30, 2024 |  | 2,103,820 |  |  | $ | 74.25 |
______________ (1)The PSUs listed above assumes attainment of maximum payout rates as set forth in the performance criteria. Applying actual or expected payout rates, the number of outstanding PSUs as of June 30, 2024 was 1,037,206. (2)The weighted average grant date fair value of the PSUs granted during the six months ended June 30, 2023 was $79.17. (3)The fair value of PSUs vested and converted to shares of the Company’s common stock was $9.9 million and $1.0 million for the six months ended June 30, 2024 and 2023, respectively.
Schedule of Share-Based Compensation, Employee Stock Purchase Plan, Activity | The fair value of shares purchased during the three and six months ended June 30, 2024 and 2023 under the ESPP is based on the assumptions in the following table:
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
|  | 2024 |  | 2023 |  | 2024 |  | 2023
ESPP Shares |  |  |  |  |  |  |  |
Risk-free interest rates |  | 4.71% - 5.30% |  | 4.68% |  | 4.71% - 5.30% |  | 4.68%
Expected term (in years) |  | 1.17 |  | 1.25 |  | 1.17 |  | 1.25
Expected volatility |  | 55.67% - 63.13% |  | 67.30% |  | 55.67% - 63.13% |  | 67.30%
Dividend yield |  | —% |  | —% |  | —% |  | —%

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

X
- Definition Tabular disclosure of employee stock purchase plan activity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (g) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationEmployeeStockPurchasePlanActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
Name: | us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of number and weighted-average grant date fair value for nonvested performance shares. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Subparagraph (c) -Paragraph 2 -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ShareBasedCompensationPerformanceSharesAwardUnvestedActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration