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Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Company's stock-based compensation activity

The following table shows the Company’s stock-based compensation activity:

			Fiscal Years Ended December 31,
(in thousands)			2023						2022						2021
Stock-based compensation expense recognized			$	19,726					$	12,503					$	15,036
Tax benefit of stock-based compensation expense in provision for income taxes			4,808						3,133						3,787
Stock-based compensation expense, net of tax			$	14,918					$	9,370					$	11,249

Schedule of unvested restricted stock unit activity

The following table summarizes the Company’s unvested restricted stock unit activity for the year ended December 31, 2023:

			Shares (in thousands)						Weighted- Average Exercise Price						Aggregate Intrinsic Value * (in thousands)
Unvested Restricted Stock Units (RSUs)
Outstanding as of January 1, 2023			302						$	102.10					$	26,745
Awarded			284						99.35
Vested			(180)						90.39
Forfeited			(28)						107.67
Outstanding as of December 31, 2023			378						102.87						74,850
Outstanding and expected to vest at December 31, 2023			421						$	102.04					83,350

* The intrinsic value for outstanding and expected to vest is calculated using the closing price per share of $197.98, as reported by the New York Stock Exchange on December 31, 2023.

Share-based Payment Arrangement, Outstanding Award, Activity, Excluding Option

The Company awarded shares for service through 2023, 2022, and 2021 as shown below:

			December 31,
			2023			2022			2021
Shares issued			9,800			9,300			6,900
Shares settled with cash (foreign employees)			4,900			7,400			6,500
Total awards			14,700			16,700			13,400

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Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit.

+ References

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-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

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Tabular disclosure of activity for outstanding award under share-based payment arrangement excluding share and unit options and nonvested award.

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-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(2)
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Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

+ References

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-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(1)
-Publisher FASB
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