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STOCK-BASED COMPENSATION (Tables)
 6 Months Ended
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,
2024202320242023
Restricted and deferred stock units$7,198 $4,769 $13,798 $9,194 
Performance stock units5,064 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 ExpenseFinal Year of Recognition
Restricted and deferred stock units$50,357 2027
Performance stock units33,306 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 DSUsWeighted-Average Grant-Date Fair Value
Non-vested, beginning of year855,627 $66.31 
Granted458,106 64.48 
Vested(165,223)59.46 
Forfeited(43,206)66.97 
Non-vested, end of period1,105,304 $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 year472,593 $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.