XML 47 R40.htm IDEA: XBRL DOCUMENT
v3.25.1

Equity-Based Compensation (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2025
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] |
Stock Option Activity | Stock option activity during 2024 and 2025 was as follows:
|  | Number of Options |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Term (in years) |  |  | Aggregate Intrinsic Value (in thousands) |
Options outstanding at January 1, 2024 |  |  | 936,545 |  |  | $ | 56.21 |  |  |  |  |  |  |
Options granted |  |  | 4,000 |  |  |  | 75.30 |  |  |  |  |  |  |
Options exercised |  |  | (158,714 | ) |  |  | 45.43 |  |  |  |  |  |  |
Options cancelled |  |  | (86,810 | ) |  |  | 66.91 |  |  |  |  |  |  |
Options outstanding at December 31, 2024 |  |  | 695,021 |  |  |  | 57.45 |  |  |  |  |  |  |
Options granted |  |  | — |  |  |  | — |  |  |  |  |  |  |
Options exercised |  |  | — |  |  |  | — |  |  |  |  |  |  |
Options cancelled |  |  | (39,335 | ) |  |  | 57.51 |  |  |  |  |  |  |
Options outstanding at March 31, 2025 |  |  | 655,686 |  |  | $ | 57.44 |  |  |  | 6.20 |  |  | $ | 128,417 |
Options exercisable at March 31, 2025 |  |  | 484,070 |  |  | $ | 52.43 |  |  |  | 5.69 |  |  | $ | 128,417 |
Schedule of Stock Options Valuation Assumptions | The following table summarizes the grant-date fair value of options and the assumptions used to develop the fair value estimates for options granted during the year ended December 31, 2024:
|  | December 31, 2024 |
Weighted average grant-date fair value of options |  | $ | 27.24 |
Risk-free interest rate |  |  | 4.4 | %
Expected volatility |  |  | 33 | %
Expected life (in years) |  |  | 4.8 |
Restricted Stock Activity | Restricted stock unit activity during 2024 and 2025 was as follows:
|  | Number of Shares |  |  | Weighted Average Grant-Date Fair Value |
Unvested at January 1, 2024 |  |  | 1,030,478 |  |  | $ | 68.38 |
Granted |  |  | 608,572 |  |  |  | 71.78 |
Cancelled |  |  | (127,761 | ) |  |  | 72.84 |
Vested |  |  | (365,871 | ) |  |  | 63.29 |
Unvested at December 31, 2024 |  |  | 1,145,418 |  |  | $ | 71.31 |
Granted |  |  | 950,348 |  |  |  | 30.15 |
Cancelled |  |  | (29,043 | ) |  |  | 67.55 |
Vested |  |  | (237,478 | ) |  |  | 72.39 |
Unvested at March 31, 2025 |  |  | 1,829,245 |  |  | $ | 49.84 |
Performance stock unit activity | Performance stock unit activity during 2024 and 2025 was as follows:
|  | Number of Units |  |  | Weighted Average Grant-Date Fair Value |
Unvested at January 1, 2024 |  |  | 336,031 |  |  | $ | 69.35 |
Granted |  |  | 78,955 |  |  |  | 68.04 |
Performance adjustment |  |  | (9,241 | ) |  |  | 72.99 |
Cancelled |  |  | (15,723 | ) |  |  | 70.37 |
Vested |  |  | (98,504 | ) |  |  | 61.52 |
Unvested at December 31, 2024 |  |  | 291,518 |  |  | $ | 71.47 |
Granted |  |  | — |  |  |  | — |
Performance adjustment |  |  | (22,974 | ) |  |  | 72.07 |
Cancelled |  |  | — |  |  |  | — |
Vested |  |  | (66,676 | ) |  |  | 73.96 |
Unvested at March 31, 2025 |  |  | 201,868 |  |  | $ | 70.58 |

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
Name: | us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of number and weighted-average grant date fair value for nonvested performance shares. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Subparagraph (c) -Paragraph 2 -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ShareBasedCompensationPerformanceSharesAwardUnvestedActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration