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Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Pre-tax Amounts by Operating Segment for Stock-Based Compensation

We recorded the following pre-tax amounts in selling and administrative expenses for stock-based compensation, by operating segment, in the accompanying consolidated financial statements (in thousands):

			Years Ended December 31,
			2023						2022						2021
North America			$	22,069					$	17,822					$	13,699
EMEA			5,557						3,960						3,844
APAC			1,325						928						658
Total Consolidated			$	28,951					$	22,710					$	18,201

Summary of Restricted Stock Units Activity

The following table summarizes our RSU activity during 2023:

			Number						Weighted Average Grant Date Fair Value						Fair Value
Nonvested at the beginning of year			643,660						$	86.53
Service-based RSUs granted			183,781						$	132.49
Performance-based RSUs granted			34,080						$	130.62
Performance-based RSUs (rTSR) granted			33,506						$	206.08
Performance-based RSUs - Ambition granted			110,561						$	169.75
Vested, including shares withheld to cover taxes			(294,686)						$	78.05					$	39,239,334		(a)
Forfeited			(57,000)						$	114.11
Nonvested at the end of year			653,902						$	123.23					$	115,864,895		(b)

(a) The aggregate fair value of vested RSUs represents the total pre-tax fair value, based on the closing stock price on the day of vesting, which would have been received by holders of RSUs had all such holders sold their underlying shares on that date. The aggregate intrinsic value for RSUs which vested during 2022 and 2021 was $29,805,641 and $34,558,405, respectively.

(b) The aggregate fair value of the nonvested RSUs and the RSUs expected to vest represents the total pre-tax fair value, based on our closing stock price of $177.19 as of December 29, 2023, which would have been received by holders of RSUs had all such holders sold their underlying shares on that date.

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- Definition

Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

+ References

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-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

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- Definition

Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

+ References

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-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

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