XML 44 R31.htm IDEA: XBRL DOCUMENT
v3.23.2

STOCK-BASED COMPENSATION (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2023
Share-Based Payment Arrangement [Abstract] |
Summary of Share-Based Compensation Expense | The following table outlines the compensation expense recorded by type of award (in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Restricted and deferred stock units | $ | 4,769 |  |  | $ | 3,917 |  |  | $ | 9,194 |  |  | $ | 9,182 |
Performance stock units | 5,126 |  |  | 2,218 |  |  | 8,081 |  |  | 5,043 |
Total stock-based compensation | $ | 9,895 |  |  | $ | 6,135 |  |  | $ | 17,275 |  |  | $ | 14,225 |
Summary of Unrecognized Compensation Expense | As of June 30, 2023, unrecognized compensation expense related to the awards granted under the LTIP will be amortized through the relevant periods as follows (in thousands):
| Unrecognized Compensation Expense |  | Final Year of Recognition
Restricted and deferred stock units | $ | 27,578 |  |  | 2026
Performance stock units | 26,364 |  |  | 2025
Total unrecognized stock-based compensation | $ | 53,942 |  |  |
Summary of the Status and Activity of Non-Vested RSUs, DSUs, and Options | A summary of the status and activity of non-vested RSUs and DSUs for the six months ended June 30, 2023 is presented below:
| RSUs and DSUs |  | Weighted-Average Grant-Date Fair Value
Non-vested, beginning of year | 675,898 |  |  | $ | 50.27 |
Granted | 309,500 |  |  | 71.12 |
Vested | (342,563) |  |  | 46.67 |
Forfeited | (34,072) |  |  | 57.36 |
Non-vested, end of period | 608,763 |  |  | $ | 62.50 |
A summary of the status and activity of stock options for the six months ended June 30, 2023 is presented below:
| Stock Options |  | Weighted- Average Exercise Price |  | Weighted-Average Remaining Contractual Term (in years) |  | Aggregate Intrinsic Value (in thousands)
Outstanding, beginning of year | 15,170 |  |  | $ | 34.36 |  |  |  |  |
Exercised | (13,463) |  |  | 34.36 |  |  |  |  |
Expired | (111) |  |  | 34.36 |  |  |  |  |
Outstanding, end of period | 1,596 |  |  | $ | 34.36 |  |  | 3.8 |  | $ | 56 |
Options outstanding and exercisable | 1,596 |  |  | $ | 34.36 |  |  | 3.8 |  | $ | 56 |
Summary of the Status and Activity of PSUs | A summary of the status and activity of non-vested PSUs for the six months ended June 30, 2023 is presented below:
| PSUs (1) |  | Weighted-Average Grant-Date Fair Value
Non-vested, beginning of year | 345,999 |  |  | $ | 77.42 |
Granted | 233,861 |  |  | 103.39 |
Vested | (89,901) |  |  | 78.49 |
Forfeited | (59,726) |  |  | 87.80 |
Expired | (242) |  |  | 18.26 |
Non-vested, end of period | 429,991 |  |  | $ | 89.92 |
___________________________ (1)The number of awards assumes that the associated performance condition is met at the target amount (multiplier of one). The final number of shares of the Company’s common stock issued may vary depending on the performance multiplier, which ranges from zero to 225% (or, for PSUs granted prior to fiscal year 2023, 200%), depending on the level of satisfaction of the performance condition.

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_DisclosureOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -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 + Details
Name: | us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the changes in outstanding nonvested shares. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfNonvestedShareActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of number and weighted-average grant date fair value for nonvested performance shares. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Subparagraph (c) -Paragraph 2 -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ShareBasedCompensationPerformanceSharesAwardUnvestedActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration