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Share-Based Compensation
 3 Months Ended
Mar. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Share-Based Compensation Share-Based Compensation
The components of the Company’s share-based compensation expense were as follows:
Three Months Ended March 31,
(in thousands)20252024
Stock options$1,519 $1,346 
Restricted stock3,327 3,477 
Performance vested restricted stock units5,569 4,271 
Total share-based compensation expense$10,415 $9,094 
A summary of the share-based award activity during the three months ended March 31, 2025 is presented below:
 Stock OptionsRestricted StockPerformance Vested
Restricted Stock Units
 OptionsWeighted
Average
Exercise
Price		Weighted
Average
Remaining
Contractual
Life		SharesWeighted
Average
Grant Date
Fair Value		SharesWeighted
Average
Grant Date
Fair Value
Outstanding as of January 1, 2025771,641 $111.15 355,405 $136.67 467,521 $137.74 
Granted— — 34,379 143.27 146,539 151.10 
Performance-based leveraging (1)
— — — — 14,662 120.48 
Exercised/vested(42,264)109.78 (44,073)132.54 (116,107)151.76 
Expired(1,226)81.55 — — — — 
Forfeited(613)134.58 (4,378)121.20 (6,707)153.53 
Outstanding as of March 31, 2025727,538 $111.29 6.0 years341,333 $138.02 505,908 $137.61 
Options exercisable as of March 31, 2025582,137 $108.03 5.5 years
(1) Any revisions to the outstanding PVRSUs during the three months ended March 31, 2025 is based on the Company's performance relative to the targeted performance conditions in the respective PVRSUs.
The fair value of the restricted stock and the PVRSUs with performance conditions that were granted during the three months ended March 31, 2025 was equal to the market price of the Company’s common stock on the date of the grant. The fair value of the PVRSUs with market conditions that are based on the Company’s total shareholder return relative to a predetermined peer group was estimated using a Monte Carlo simulation method as of the date of the grant. The requisite service periods for the restricted stock and the PVRSUs was between 9 months and 48 months.