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Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2024

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)			2024						2023						2022
Stock-based compensation expense recognized			$	13,112					$	19,726					$	12,503
Tax benefit of stock-based compensation expense in provision for income taxes			3,204						4,808						3,133
Stock-based compensation expense, net of tax			$	9,908					$	14,918					$	9,370

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, 2024:

			Shares (in thousands)						Weighted- Average Exercise Price						Aggregate Intrinsic Value * (in thousands)
Unvested Restricted Stock Units (RSUs)
Outstanding as of January 1, 2024			378						$	102.87					$	74,850
Awarded			161						177.60
Vested			(167)						103.64
Forfeited			(36)						116.62
Outstanding as of December 31, 2024			336						130.42						55,333
Outstanding and expected to vest at December 31, 2024			327												54,249

* The intrinsic value for outstanding and expected to vest is calculated using the closing price per share of $165.83, as reported by the New York Stock Exchange on December 31, 2024.

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

The Company awarded shares for service through 2024, 2023, and 2022 as shown below:

			December 31,
			2024			2023			2022
Shares to be issued			21,266			9,800			9,300
Shares settled with cash (foreign employees)			763			4,900			7,400
Total awards			22,029			14,700			16,700

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