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STOCK-BASED COMPENSATION (Tables) | 6 Months Ended
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Jun. 30, 2024
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,
| 2024 |  | 2023 |  | 2024 |  | 2023
Restricted and deferred stock units | $ | 7,198 |  |  | $ | 4,769 |  |  | $ | 13,798 |  |  | $ | 9,194 |
Performance stock units | 5,064 |  |  | 5,126 |  |  | 9,663 |  |  | 8,081 |
Total stock-based compensation | $ | 12,262 |  |  | $ | 9,895 |  |  | $ | 23,461 |  |  | $ | 17,275 |
Summary of Unrecognized Compensation Expense | As of June 30, 2024, 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 | $ | 50,357 |  |  | 2027
Performance stock units | 33,306 |  |  | 2026
Total unrecognized stock-based compensation | $ | 83,663 |  |  |
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, 2024 is presented below:
| RSUs and DSUs |  | Weighted-Average Grant-Date Fair Value
Non-vested, beginning of year | 855,627 |  |  | $ | 66.31 |
Granted | 458,106 |  |  | 64.48 |
Vested | (165,223) |  |  | 59.46 |
Forfeited | (43,206) |  |  | 66.97 |
Non-vested, end of period | 1,105,304 |  |  | $ | 66.55 |
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, 2024, is presented below:
| PSUs |  | Weighted-Average Grant-Date Fair Value
Non-vested, beginning of year | 472,593 |  |  | $ | 92.08 |
Granted(1) | 270,509 |  |  | 74.55 |
Additional shares based on performance(2) | 59,504 |  |  | 97.45 |
Vested(2) | (139,218) |  |  | 91.59 |
Forfeited | (10,818) |  |  | 103.15 |
Non-vested, end of period(1) | 652,570 |  |  | $ | 85.23 |
___________________________ (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 our 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. (2)Upon completion of the performance period for the PSUs granted in 2021, a performance achievement of 200% or 141%, as applicable, was applied to each of the grants, resulting in a number of shares greater than the target amount of such PSUs vesting and being settled during the six months ended June 30, 2024.

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