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Stock-Based Compensation Plans
 3 Months Ended
Mar. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation Plans

12. Stock-Based Compensation Plans

For the three months ended March 31, 2025 and 2024, the Company recognized stock-based compensation expense of $10.6 million and $8.7 million, respectively, resulting primarily from stock options, restricted stock units, and performance-based restricted stock units, in the Condensed Consolidated Statements of Income.

During the three months ended March 31, 2025, the Company granted 3.9 million options at a weighted-average exercise price of $10.64 and 5.0 million performance-based restricted stock units and restricted stock units at a weighted-average grant date fair value of $10.65. As of March 31, 2025, the Company had 12.3 million outstanding options at a weighted-average exercise price of $13.52, of which 4.6 million options were exercisable at a weighted-average exercise price of $15.78. The Company had 10.9 million outstanding performance-based restricted stock units (based on target performance) and restricted stock units at a weighted-average grant date fair value of $12.27 as of March 31, 2025.