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Stock-Based Compensation Plans (Tables)
3 Months Ended
Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of Stock Option Activity
A summary of stock option activity is as follows:
Number of
Shares
Weighted Average
Exercise Price ($)
Weighted Average
Remaining Contractual
Term (Years)
Aggregate Intrinsic Value
of In-the-Money
Options ($)
Outstanding as of December 31, 20202,186,511 $17.87 
Exercised(144,285)19.40 
Outstanding as of March 31, 20212,042,226 $17.77 3.93$41,422,807 
Exercisable as of March 31, 20212,042,226 $17.77 3.93$41,422,807 
Total Shareholder Return Awards (TSRs)  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of Nonvested Performance Award Activity
A summary of nonvested total shareholder return awards ("TSRs") is as follows:
Number of
Shares
Weighted Average
Grant Date Fair Value
Nonvested as of December 31, 20201,367,728 $34.59 
Granted367,317 50.60 
Vested(782,588)31.31 
Forfeited(29,405)33.25 
Change in payout rate391,294 31.31 
Nonvested as of March 31, 20211,314,346 $40.07 
Total Shareholder Return Awards (TSRs) | Monte Carlo Simulation Model  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of Grant Date Fair Value Weighted-Average Assumptions, Awards Other Than Options
The fair value of TSRs granted during the three months ended March 31, 2021 and 2020, were estimated on the date of grant using the Monte Carlo simulation model, acceptable under ASC 718, using the following weighted average assumptions:
Three Months Ended March 31,
20212020
Expected life (years)2.82.8
Risk-free interest rate0.3 %0.5 %
Expected volatility41.2 %31.4 %
Expected dividend yield— — 
Restricted Share Units (RSUs)  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of Nonvested Restricted Share Unit Activity
A summary of nonvested restricted share unit awards ("RSUs") is as follows:
Number of
Shares
Weighted Average
Grant Date Fair Value
Nonvested as of December 31, 20201,118,182 $27.34 
Granted480,049 39.36 
Vested(406,542)26.73 
Forfeited(88,114)26.84 
Nonvested as of March 31, 20211,103,575 $32.84