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Share-Based and Other Compensation (Tables)
12 Months Ended
Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Restricted Stock Units Valuation Assumptions The total fair value of the Time-Based RSUs is based on the Company’s closing share price on the NYSE on the respective fair valuation dates as detailed in the table below:
2023 Time-Based RSU Grant
2022 Time-Based RSU Grant
2021 Time-Based RSU Grant
Service vesting periodFebruary 6, 2023 - January 5, 2026January 28, 2022 - January 5, 2025January & February 2021 - January 5, 2024
RSUs granted217,059158,170160,277
Fair value on valuation date (in millions)$8.6 $10.0 $9.1 
Weighted average fair value per share$39.65 $63.05 $57.07 
Date of valuationFebruary 6, 2023January 28, 2022January 29, February 18, 2021
2022, 2021 and 2020 Performance-Based RSUs  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Restricted Stock Units Valuation Assumptions The following table summarizes the estimated number of RSUs earned for the 2023 and 2022 Performance-Based RSUs and the actual number of RSUs earned for the 2021 Performance-Based RSUs and the assumptions utilized in the Monte Carlo simulation pricing models:
2023
2022
2021
Service vesting period
February 6, 2023 - January, 2026
January 28, 2022 - January, 2025February 18, 2021 - January, 2024
Target RSUs granted300,007193,111172,430
Estimated RSUs earned (1)
570,006406,319401,580
Fair Value Assumptions:
Valuation dateFebruary 6, 2023January 28, 2022February 18, 2021
Fair value on valuation date (in millions)$12.0$12.7$10.6
Fair value per share on valuation date (2)
$40.10$67.62$63.93
Expected share price volatility35.0 %36.0 %35.0 %
Risk-free interest rate4.12 %1.35 %0.20 %
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(1)Estimated RSUs earned for the 2023 Performance-Based RSUs are based on the actual achievement of the 2023 FFO Performance Condition and assumes the target level of achievement for the 2023 Debt to EBITDA Ratio Performance Condition and the target level of achievement of the 2023 Market Condition. Estimated RSUs earned for the 2022 Performance-Based RSUs are based on the actual achievement of the 2022 FFO Performance Condition and assume target level achievement of the 2022 Market Condition and maximum level of achievement of the 2022 Debt to EBITDA Ratio Performance Condition. The 2021 Performance-Based RSUs earned are based on actual performance of the 2021 Performance Conditions and the 2021 Market Condition.
(2)For one participant, the fair value per share on the valuation date for their 2023, 2022, and 2021 Performance-Based RSUs is $40.43, $70.00 and $66.95, respectively.
Market measure-based Restricted Stock Units (RSUs)  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Restricted Stock Units Award Activity
A summary of our performance and market-measure based RSU activity from January 1, 2023 through December 31, 2023 is presented below:
Nonvested RSUsVested RSUsTotal RSUs
AmountWeighted-Average
Fair Value
Per Share
Outstanding at January 1, 2023
1,123,554 $66.85 29,705 1,153,259 
Granted483,113 39.65 53,537 536,650 
Vested(230,741)76.67 230,741 — 
Settled (1)
— — (296,688)(296,688)
Issuance of dividend equivalents (2)
67,122 32.98 6,292 73,414 
Canceled(359,962)61.00 (4)(359,966)
Outstanding as of December 31, 2023 (3)
1,083,086 $52.47 23,583 1,106,669 

____________________
(1)Represents vested RSUs that were settled in shares of the Company’s common stock. Total shares settled include 144,178 shares that were tendered in accordance with the terms of the 2006 Plan to satisfy minimum statutory tax withholding requirements related to the RSUs settled. We accept the return of RSUs at the current quoted closing share price of the Company’s common stock to satisfy tax obligations.
(2)Represents the issuance of dividend equivalents earned on the underlying RSUs. The dividend equivalents vest based on terms specified under the related RSU award agreement.
(3)Outstanding RSUs as of December 31, 2023 represent the actual achievement of the FFO performance conditions and assumes target levels for the market and other performance conditions. The number of restricted stock units ultimately earned is subject to change based upon actual performance over the three-year vesting period. Dividend equivalents earned will vest along with the underlying award and are also subject to changes based on the number of RSUs ultimately earned for each underlying award.

A summary of our performance and market-measure based RSU activity for the years ended December 31, 2023, 2022 and 2021 is presented below:

RSUs GrantedRSUs Vested
Years ended December 31,
Non-Vested
RSUs Granted (1)
Weighted-Average
Fair Value
Per Share
Vested RSUsTotal Vest-Date Fair Value
(in thousands)
2023
483,113 $39.65 (290,570)$11,105 
2022
310,484 $63.05 (241,184)$15,200 
2021
281,333 $57.85 (252,098)$14,299 
____________________
(1)Non-vested RSUs granted are based on the actual achievement of the FFO performance conditions and assumes target level achievement for the market and other performance conditions.
RSUs granted  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Restricted Stock Units Award Activity
A summary of our time-based RSU activity from January 1, 2023 through December 31, 2023 is presented below:
Nonvested RSUsVested RSUsTotal RSUs
AmountWeighted Average Fair Value
Per Share
Outstanding at January 1, 2023
443,367 $61.27 510,934 954,301 
Granted247,017 38.12 — 247,017 
Vested(305,653)63.49 305,653 — 
Settled (1)
(368,717)(368,717)
Issuance of dividend equivalents (2)
22,383 32.13 37,681 60,064 
Forfeited(5,804)50.39 — (5,804)
Canceled (3)
(2,108)(2,108)
Outstanding as of December 31, 2023
401,310 $43.86 483,443 884,753 
____________________
(1)Represents vested RSUs that were settled in shares of the Company’s common stock. Total shares settled include 161,731 shares that were tendered in accordance with the terms of the 2006 Plan to satisfy minimum statutory tax withholding requirements related to the RSUs settled. We accept the return of RSUs at the current quoted closing share price of the Company’s common stock to satisfy tax obligations.
(2)Represents the issuance of dividend equivalents earned on the underlying RSUs. The dividend equivalents vest based on terms specified under the related RSU award agreement.
(3)For shares vested but not yet settled, we accept the return of RSUs at the current quoted closing share price of the Company’s common stock to satisfy minimum statutory tax-withholding requirements related to either the settlement or vesting of RSUs in accordance with the terms of the 2006 Plan.

A summary of our time-based RSU activity for the years ended December 31, 2023, 2022 and 2021 is presented below:
RSUs GrantedRSUs Vested
Year ended December 31,Non-Vested
RSUs Issued
Weighted-Average Grant Date
Fair Value
Per Share
Vested RSUs
Total Vest-Date Fair Value (1)
(in thousands)
2023247,017 $38.12 (343,334)$12,425 
2022177,099 $62.58 (294,867)$19,890 
2021172,181 $57.83 (144,838)$8,605 
____________________
(1)    Total fair value of RSUs vested was calculated based on the quoted closing share price of the Company’s common stock on the NYSE on the day of vesting. Excludes the issuance of dividend equivalents earned on the underlying RSUs. The dividend equivalents vest based on terms specified under the related RSU award agreement.