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Stock-Based Compensation Plans
 6 Months Ended
Jun. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation Plans

13. Stock-Based Compensation Plans

For the three months ended June 30, 2025 and 2024, the Company recognized stock-based compensation expense of $11.5 million and $10.2 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, 2025 and 2024, the Company recognized stock-based compensation expense of $22.1 million and $18.9 million, respectively.

During the six months ended June 30, 2025, the Company granted 3.9 million options at a weighted-average exercise price of $10.64 and 5.1 million performance-based restricted stock units and restricted stock units at a weighted-average grant date fair value of $10.62. As of June 30, 2025, the Company had 12.3 million outstanding options at a weighted-average exercise price of $13.51, of which 4.6 million options were exercisable at a weighted-average exercise price of $15.76. The Company had 10.1 million outstanding performance-based restricted stock units (based on target performance) and restricted stock units at a weighted-average grant date fair value of $12.22 as of June 30, 2025.