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Compensation Plans (Tables) | 12 Months Ended
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Dec. 31, 2025
Share-Based Payment Arrangement [Abstract] |
Summary of Outstanding Equity Awards | The following table provides a summary of the Company's outstanding equity awards (in shares or units, as applicable) as of December 31, 2025:
Restricted stock |
Restricted stock related to compensation plans: |
Annual grants | 395,782 |
Sign-on grants | 93,064 |
Inducement grants | 9,234 |
2022 Inducement Plan grants | 63,305 |
2024 Inducement Plan grants | 34,746 |
Total restricted stock related to compensation plans | 596,131 |
Restricted stock related to acquisitions (1) | 266,505 |
Total restricted stock | 862,636 |
Restricted stock units | 113,685 |
Stock options | 105,767 |
(1)Includes restricted stock with service conditions issued in conjunction with certain acquisitions.
Schedule of Maximum Payout Leverage for Leadership Grants | The maximum payout leverage by grant year is as follows:
|  | Maximum Payout Leverage
Grant Year |  | Performance Condition |  | Market Condition |  | Total
2025 |  | 75% |  | 75% |  | 150%
2024 |  | 75% |  | 75% |  | 150%
2023 |  | 100% |  | 100% |  | 200%
2022 |  | 75% |  | 75% |  | 150%
2021 |  | 75% |  | 75% |  | 150%
Schedule of Expected Payout Leverage for Performance Condition RSUs | As of December 31, 2025, the expected payout leverage for the performance condition portion of the award by grant year is as follows:
|  | Expected Payout
Grant Year |  | Leverage
2025 |  | 75%
2024 |  | 75%
2023 |  | 63%
Schedule of Market Condition RSU Valuation Assumptions | The fair value of the market condition portion of the award was determined on the grant date using a Monte Carlo simulation with the following assumptions:
|  |  |  | Risk-Free |  | Expected Stock
Grant Year |  | Vesting Year |  | Interest Rate |  | Price Volatility
2025 |  | 2028 |  | 4.32% |  | 34.0%
2024 |  | 2027 |  | 4.38% |  | 34.3%
2023 |  | 2026 |  | 4.35% |  | 47.5%
2022 |  | 2025 |  | 1.80% |  | 43.8%
2021 |  | 2024 |  | 0.23% |  | 43.2%
2020 |  | 2023 |  | 1.40% |  | 27.3%
Schedule of Stock Options Valuation Assumptions | The fair value of these stock option awards was estimated on the respective date of grant using the Black-Scholes option-pricing model with the following assumptions:
| February 2023 |  | February 2018
| Grant |  | Grant
Risk-free interest rate | 3.94 | % |  | 2.82 | %
Dividend yield | 3.21 | % |  | 3.22 | %
Expected stock price volatility | 38.50 | % |  | 37.20 | %
Expected life of options (in years) | 7.0 |  | 7.0
Fair value of options granted (per share) | $ | 46.71 |  |  | $ | 24.49 |
Schedule of Stock-Based Compensation Expense | The following table summarizes the Company's stock-based compensation activity:
|  |  | Year Ended December 31,
(Amounts in millions) |  |  |  |  | 2025 |  | 2024 |  | 2023
Stock-based compensation expense |  |  |  |  | $ | 121.8 |  |  | $ | 101.9 |  |  | $ | 92.3 |
Forfeitures |  |  |  |  | 1.8 |  |  | 2.6 |  |  | 1.9 |
Tax benefit related to stock-based compensation expense |  |  |  |  | 23.5 |  |  | 16.4 |  |  | 17.9 |
Changes in Unvested Restricted Stock | The following table summarizes the changes in the Company's unvested restricted stock:
| Unvested |  | Weighted Average
| Restricted Stock |  | Grant Date
| (in Shares) |  | Fair Value
December 31, 2022 | 4,219,826 |  |  | $ | 92.43 |
Granted | 336,093 |  |  | 153.89 |
Vested | (1,932,950) |  |  | 85.62 |
Canceled | (29,047) |  |  | 144.34 |
December 31, 2023 | 2,593,922 |  |  | $ | 104.89 |
Granted | 311,014 |  |  | 217.55 |
Vested | (1,128,342) |  |  | 99.15 |
Canceled | (36,466) |  |  | 139.97 |
December 31, 2024 | 1,740,128 |  |  | $ | 128.01 |
Granted | 194,572 |  |  | 310.86 |
Vested | (1,059,929) |  |  | 109.51 |
Canceled | (12,135) |  |  | 213.25 |
December 31, 2025 | 862,636 |  |  | $ | 190.79 |
Changes in Unvested Restricted Stock Units | The following table summarizes the changes in the Company's unvested restricted stock units:
| Unvested |  | Weighted Average
| Restricted |  | Grant Date
| Stock Units |  | Fair Value
December 31, 2022 | 188,328 |  |  | $ | 115.16 |
Granted | 48,931 |  |  | 177.75 |
Vested | (56,066) |  |  | 86.01 |
Canceled | — |  |  | — |
December 31, 2023 | 181,193 |  |  | $ | 141.08 |
Granted | 33,694 |  |  | 199.39 |
Vested | (62,569) |  |  | 103.69 |
Canceled | — |  |  | — |
December 31, 2024 | 152,318 |  |  | $ | 169.34 |
Granted | 31,060 |  |  | 298.65 |
Vested | (69,693) |  |  | 148.90 |
Canceled | — |  |  | — |
December 31, 2025 | 113,685 |  |  | $ | 217.19 |
Changes in Outstanding Stock Options | The following table summarizes the changes in the Company's outstanding stock options:
|  |  |  |  | Weighted Average |  |
|  |  | Weighted |  | Remaining |  |
| Options |  | Average |  | Contractual Term |  | Aggregate
| Outstanding |  | Exercise Price |  | (in Years) |  | Intrinsic Value
December 31, 2022 | 81,667 |  |  | $ | 99.00 |  |  | 5.1 |  | $ | 2,547,194 |
Granted | 75,000 |  |  | 170.76 |  |  |  |  |
Exercised | — |  |  | — |  |  |  |  |
Canceled | — |  |  | — |  |  |  |  |
Expired | — |  |  | — |  |  |  |  |
December 31, 2023 | 156,667 |  |  | $ | 133.35 |  |  | 6.5 |  | $ | 6,504,325 |
Granted | — |  |  | — |  |  |  |  |
Exercised | (8,000) |  |  | 99.00 |  |  |  |  | 1,334,949 |
Canceled | — |  |  | — |  |  |  |  |
Expired | — |  |  | — |  |  |  |  |
December 31, 2024 | 148,667 |  |  | $ | 135.20 |  |  | 5.7 |  | $ | 24,492,634 |
Granted | — |  |  | — |  |  |  |  |
Exercised | (42,900) |  |  | 99.00 |  |  |  |  | 9,341,557 |
Canceled | — |  |  | — |  |  |  |  |
Expired | — |  |  | — |  |  |  |  |
December 31, 2025 | 105,767 |  |  | $ | 149.89 |  |  | 5.7 |  | $ | 20,077,175 |
Options exercisable at: |  |  |  |  |  |  |
December 31, 2023 | 81,667 |  |  | $ | 99.00 |  |  | 4.1 |  | $ | 6,196,075 |
December 31, 2024 | 73,667 |  |  | $ | 99.00 |  |  | 3.1 |  | $ | 14,803,384 |
December 31, 2025 | 30,767 |  |  | $ | 99.00 |  |  | 2.1 |  | $ | 7,405,925 |

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