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Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule of Information on Stock Options Issued | The following table presents activity related to our stock options for the year ended December 31, 2024:
| Number of Stock Options |  | Weighted-Average Exercise Price |  | Weighted-Average Remaining Contractual Term (in years) |  | Aggregate Intrinsic Value (in millions)
Outstanding as of January 1, 2024 | 3,710,184 |  |  | $29.19 |  |  |  |
Granted | 1,288,720 |  |  | $23.45 |  |  |  |
Exercised | (143,534) |  |  | $10.72 |  |  |  |
Expired | (160,915) |  |  | $27.07 |  |  |  |
Forfeited | (82,593) |  |  | $37.69 |  |  |  |
Outstanding as of December 31, 2024 | 4,611,862 |  |  | $28.07 |  | 6.5 |  | $2.1
Exercisable as of December 31, 2024 | 2,620,314 |  |  | $27.71 |  | 4.9 |  | $1.9
Expected to vest as of December 31, 2024 | 1,991,548 |  |  | $28.54 |  | 8.6 |  | $0.3
The following table presents information related to the fair value and intrinsic value of our stock options:
| For the year ended December 31,
| 2024 |  | 2023 |  | 2022
Weighted-average grant-date fair value of options | $15.28 |  | $18.60 |  | $30.09
Aggregate intrinsic value of stock options exercised (in millions) | $1.2 |  | $4.1 |  | $8.6
Fair value of stock options vested (in millions) | $11.6 |  | $15.9 |  | $21.3
Schedule of Weighted-Average Assumptions used in Black-Scholes Option Pricing Model | The following table provides the weighted-average assumptions used in the Black-Scholes option-pricing model:
| For the year ended December 31,
| 2024 |  | 2023 |  | 2022
Risk-free interest rate | 4.07 | % |  | 3.88 | % |  | 1.40 | %
Expected volatility | 75.96 | % |  | 74.85 | % |  | 71.00 | %
Dividend yield (1) | — |  |  | — |  |  | — |
Weighted-average expected life (in years) | 5.2 |  | 5.1 |  | 5.2
(1)The expected dividend yield is zero, as the Company has not historically paid dividends.
Schedule of Information on Restricted Stock Awards | The following table presents activity related to our restricted stock for the year ended December 31, 2024:
| With Performance Conditions |  | Without Performance Conditions
| Number of Shares |  | Weighted- Average Grant Date Fair Value |  | Number of Shares |  | Weighted- Average Grant Date Fair Value
Nonvested as of January 1, 2024 | 1,811,171 |  |  | $46.98 |  | 1,194,368 |  |  | $38.03
Granted | 1,547,172 |  |  | $17.15 |  | 2,152,842 |  |  | $22.44
Vested | (336,544) |  |  | $51.76 |  | (515,191) |  |  | $40.49
Forfeited | (26,064) |  |  | $28.04 |  | (322,396) |  |  | $29.35
Nonvested as of December 31, 2024 | 2,995,735 |  |  | $31.21 |  | 2,509,623 |  |  | $26.11

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