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Stock-based Compensation | 6 Months Ended
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Jun. 30, 2023
Share-Based Payment Arrangement [Abstract] |
Stock-based Compensation | STOCK-BASED COMPENSATIONDuring the three and six months ended June 30, 2023 and 2022, we recognized $7.3 million, $13.6 million, $3.7 million and $9.0 million, respectively, in stock-based compensation expense, which was allocated between costs of goods sold and selling, general and administrative expenses in the condensed consolidated statements of operations. We recognized tax benefits on stock-based compensation of $0.7 million, $1.6 million, $0.4 million and $1.0 million for the three and six months ended June 30, 2023 and 2022, respectively. 2023 Activity A summary of stock option award activity for the six months ended June 30, 2023 is presented below.
Stock Options |  | Awards (in millions) |  | Weighted Average Exercise Price |  | Aggregate Intrinsic Value (in millions) |  | Weighted Average Remaining Contractual Life (years)
Outstanding at January 1, 2023 |  | 1.1 |  |  | $ | 26.56 |  |  |  |  |
Granted |  | — |  |  | $ | — |  |  |  |  |
Exercised |  | (0.4) |  |  | $ | 24.02 |  |  |  |  |
Forfeited / Expired |  | (0.1) |  |  | $ | 32.50 |  |  |  |  |
Outstanding at June 30, 2023 |  | 0.6 |  |  | $ | 27.86 |  |  |  |  |
Vested and expected to vest at June 30, 2023 |  | 0.6 |  |  | $ | 27.86 |  |  | $ | 2.8 |  |  | 3.64
Exercisable at June 30, 2023 |  | 0.6 |  |  | $ | 27.86 |  |  | $ | 2.8 |  |  | 3.64
Cash received by the Company upon exercise of options for the six months ended June 30, 2023 was $11.4 million. Tax benefits on these exercises were $0.1 million. At June 30, 2023, there was no unrecognized expense relating to unvested stock options.
Restricted Stock Units |  | Units (in millions) |  | Weighted Average Fair Value
Outstanding at January 1, 2023 |  | 1.6 |  |  | $ | 27.38 |
Granted |  | 0.6 |  |  | $ | 29.83 |
Vested |  | (0.6) |  |  | $ | 27.90 |
Forfeited |  | (0.1) |  |  | $ | 28.75 |
Outstanding at June 30, 2023 |  | 1.5 |  |  | $ | 28.12 |
Tax benefits on the vesting of restricted stock units during the six months ended June 30, 2023 were $0.1 million. At June 30, 2023, there was $23.1 million of unamortized expense relating to unvested restricted stock units that is expected to be amortized over a weighted average period of 1.5 years.
Performance Share Units |  | Units (in millions) |  | Weighted Average Fair Value
Outstanding at January 1, 2023 |  | 0.6 |  |  | $ | 30.44 |
Granted |  | 0.4 |  |  | $ | 36.38 |
Vested |  | — |  |  | $ | — |
Forfeited |  | (0.2) |  |  | $ | 31.31 |
Outstanding at June 30, 2023 |  | 0.8 |  |  | $ | 33.11 |
Our performance share units allow for participants to vest in zero to 200% of the targeted number of shares granted. At June 30, 2023, there was $15.9 million of unamortized expense relating to unvested performance share units that is expected to be amortized over a weighted average period of 2.6 years. The forfeitures include portions of performance share unit grants that were determined to not have vested during the period as a result of not meeting established financial performance thresholds.

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