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Stock-Based Compensation Plans
 6 Months Ended
Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation Plans

13. Stock-Based Compensation Plans

For the three months ended June 30, 2024 and 2023, the Company recognized stock-based compensation expense of $10.2 million and $9.5 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 six months ended June 30, 2024 and 2023, the Company recognized stock-based compensation expense of $18.9 million and $17.5 million, respectively.

During the six months ended June 30, 2024, the Company granted 4.4 million options at a weighted-average exercise price of $12.80 and 4.3 million performance-based restricted stock units and restricted stock units at a weighted-average grant date fair value of $12.71. As of June 30, 2024, the Company had 8.6 million outstanding options at a weighted-average exercise price of $14.95, of which 2.2 million options were exercisable at a weighted-average exercise price of $18.03. The Company had 9.0 million outstanding performance-based restricted stock units (based on target performance) and restricted stock units at a weighted-average grant date fair value of $14.17 as of June 30, 2024.