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Equity-Based Compensation (Tables) | 3 Months Ended
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Mar. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Summary of Stock Based Compensation Assumptions | The following table summarizes the assumptions used in the Monte Carlo simulation model to determine the grant date fair value and associated equity-based compensation expenses by grant date for the 2024 PSUs:
| Absolute TSR |  | Relative TSR
Grant date | February 20, 2024 |  | March 4, 2024 |  | February 20, 2024 |  | March 4, 2024
Forecast period (years) | 3 |  | 3 |  | 3 |  | 3
Risk-free interest rates | 4.4% |  | 4.4% |  | 4.4% |  | 4.4%
Implied equity volatility | 35% |  | 35% |  | 35% |  | 35%
Stock price on date of grant | $163.75 |  | $160.23 |  | $163.75 |  | $160.23

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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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