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Equity-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2024
Share-Based Payment Arrangement, Noncash Expense [Abstract] |
Summary of Compensation Expense Connection with Awards | along with the related tax benefits recognized during the years ended December 31 were as follows (in thousands):
| 2024 |  | 2023 |  | 2022
Total stock compensation expense | $ | 10,963 |  |  | $ | 9,750 |  |  | $ | 8,334 |
Tax benefits recognized related to stock compensation expense | $ | 2,302 |  |  | $ | 2,516 |  |  | $ | 2,175 |
Schedule of Number of Awards and Weighted Average Grant Date Fair Value | The following table provides the number of stock units and common stock granted during the years ended December 31, along with the weighted-average grant-date fair value of each award:
|  | 2024 |  | 2023 |  | 2022
Awards |  | Number of Awards |  | Weighted Average Grant Date Fair Value |  | Number of Awards |  | Weighted Average Grant Date Fair Value |  | Number of Awards |  | Weighted Average Grant Date Fair Value
Deferred stock units |  | 3,340 |  |  | $ | 68.86 |  |  | 6,351 |  |  | $ | 54.33 |  |  | 2,460 |  |  | $ | 42.69 |
Common stock |  | 7,564 |  |  | $ | 68.64 |  |  | 8,468 |  |  | $ | 54.33 |  |  | 15,652 |  |  | $ | 42.49 |
Restricted stock units |  | 82,930 |  |  | $ | 71.77 |  |  | 99,820 |  |  | $ | 61.93 |  |  | 132,430 |  |  | $ | 43.92 |
Performance stock units (1) |  | 60,765 |  |  | $ | 77.28 |  |  | 85,323 |  |  | $ | 53.22 |  |  | 108,464 |  |  | $ | 47.00 |
(1) The Company’s performance stock units (“PSUs”) represent shares granted for which the final number of shares earned depends on financial performance. The number of shares to be issued may vary between 0% and 200% of the number of PSUs granted depending on the relative achievement to targeted thresholds. The Company's PSUs with a financial performance condition are based on the Company’s return on invested capital (“ROIC”) over a one-year period performance period.
Summary of Information About Restricted Stock Units and Weighted Average Grant Date Fair Value | The following table summarizes information about non-vested restricted stock units and performance stock units (that will convert to shares upon vesting), deferred stock units and common stock:
| Restricted Stock Units |  | Weighted Average Grant Date Fair Value |  | Common Stock |  | Weighted Average Grant Date Fair Value |  | Performance Stock Units |  | Weighted Average Grant Date Fair Value |  | Deferred Stock Units (2) |  | Weighted Average Grant Date Fair Value
Balance at December 31, 2023 | 232,970 |  |  | $ | 53.75 |  |  | — |  |  | $ | — |  |  | 136,246 |  |  | $ | 52.27 |  |  | 44,479 |  |  | $ | 46.90 |
Granted | 82,930 |  |  | $ | 71.77 |  |  | 7,564 |  |  | $ | 68.64 |  |  | 60,765 |  |  | $ | 77.28 |  |  | 3,340 |  |  | $ | 68.86 |
Adjustments (1) | — |  |  | $ | — |  |  | — |  |  | $ | — |  |  | 76,734 |  |  | $ | 53.04 |  |  | — |  |  | $ | — |
Vested | (63,451) |  |  | $ | 60.34 |  |  | (7,564) |  |  | $ | 68.64 |  |  | (10,148) |  |  | $ | 68.73 |  |  | (13,329) |  |  | $ | 36.47 |
Forfeited | (20,109) |  |  | $ | 60.75 |  |  | — |  |  | $ | — |  |  | — |  |  | $ | — |  |  | — |  |  | $ | — |
Balance at December 31, 2024 | 232,340 |  |  | $ | 57.78 |  |  | — |  |  | $ | — |  |  | 263,597 |  |  | $ | 57.62 |  |  | 34,490 |  |  | $ | 53.06 |
(1) Adjustments during the first quarter of 2024 for (i) an additional 77,498 units for PSUs granted in 2023 to reflect 200.0% of the target amount granted based on the Company's actual ROIC compared to ROIC target for the performance period ended December 31, 2023, and (ii) a reduction of 764 units for PSUs granted in 2020 to reflect 93.0% of the target amount granted based on individual performance goals ended December 31, 2023. (2) Vested and issuable upon termination from service as a member of the Company's Board of Directors.
Aggregate Intrinsic Value of Options Exercised and Aggregate Fair Value of Restricted Stock Units and Restricted Shares that Vested | The following table sets forth the aggregate fair value of restricted stock units, common stock, performance stock units with a financial performance condition, and deferred stock units that vested during the years ended December 31 (in thousands):
| 2024 |  | 2023 |  | 2022
Aggregate fair value of vested restricted stock units | $ | 4,626 |  |  | $ | 4,740 |  |  | $ | 3,920 |
Aggregate fair value of vested common stock | $ | 519 |  |  | $ | 460 |  |  | $ | 665 |
Aggregate fair value of vested performance stock units | $ | 788 |  |  | $ | 3,999 |  |  | $ | 6,729 |
Aggregate fair value of vested deferred stock units | $ | 230 |  |  | $ | 345 |  |  | $ | 105 |
Cash Paid to Settle Liability Awards | The following table provides the number of restricted stock units credited to active participant accounts, balance of vested and unvested restricted stock units within active participant accounts, payments made with respect to MSPP liabilities and MSPP expense during years ended December 31:
| 2024 |  | 2023 |  | 2022
Restricted stock units credited | 43,566 |  |  | 48,921 |  |  | 12,365 |
Restricted stock units balance, vested and unvested | 205,221 |  |  | 199,946 |  |  | 158,644 |
Share-based liabilities paid (in thousands) | $ | 2,821 |  |  | $ | 2,392 |  |  | $ | 3,689 |
MSPP expense (recovery) (in thousands) | $ | 3,890 |  |  | $ | 4,710 |  |  | $ | (4,459) |

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