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Stock-Based Compensation Plans
 9 Months Ended
Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation Plans

13. Stock-Based Compensation Plans

For the three months ended September 30, 2022 and 2021, the Company recognized stock-based compensation expense of $9.6 million and $8.4 million, respectively, resulting primarily from stock options, restricted stock units, and performance-based restricted stock units in the Condensed Consolidated Statements of Income. For the nine months ended September 30, 2022 and 2021, the Company recognized stock-based compensation expense of $32.6 million and $31.2 million, respectively.

During the nine months ended September 30, 2022, the Company granted 0.6 million options at a weighted-average exercise price of $18.62 and 3.6 million performance-based restricted stock units and restricted stock units at a weighted-average grant date fair value of $19.94. As of September 30, 2022, the Company had 6.4 million outstanding options at a weighted-average exercise price of $18.68, of which 3.6 million options were exercisable at a weighted-average exercise price of $19.16. The Company had 6.9 million outstanding performance-based restricted stock units (based on target performance) and restricted stock units at a weighted-average grant date fair value of $21.43 as of September 30, 2022.