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Share-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2022
Share-Based Payment Arrangement [Abstract] |
Summary of Activities Under Share-Based Compensation Plans | The following table summarizes the activities for all SARs under the Company’s share-based compensation plans for the year ended December 31, 2022:
|  | Number of Awards |  |  | Weighted- Average Exercise Price Per Award |  |  | Weighted- Average Remaining Contractual Term |  | Aggregate Intrinsic Value(1) |
|  | (in thousands) |  |  |  |  |  |  |  | (in millions) |
Outstanding as of December 31, 2021(2) |  |  | 2,622 |  |  | $ | 27.10 |  |  | 3.8 years |  | $ | 36.3 |
Granted |  |  | 784 |  |  | $ | 14.45 |  |  |  |  |  |
Exercised(3) |  |  | (82 | ) |  | $ | 20.58 |  |  |  |  |  |
Forfeited |  |  | (250 | ) |  | $ | 25.08 |  |  |  |  |  |
Outstanding as of December 31, 2022(2) |  |  | 3,074 |  |  | $ | 24.21 |  |  | 4.6 years |  | $ | 0.3 |
Exercisable as of December 31, 2022(4) |  |  | 2,290 |  |  | $ | 27.55 |  |  | 2.8 years |  | $ | — |
Vested and expected to vest as of December 31, 2022(4) |  |  | 3,040 |  |  | $ | 24.32 |  |  | 4.6 years |  | $ | 0.3 |
(1) The intrinsic value is the amount by which the current market value of the underlying stock exceeds the exercise price of the stock awards. (2) Includes 0.8 million performance condition SARs as of December 31, 2022 and 2021. (3) Includes less than 0.1 million performance condition SARs. (4) Includes 0.8 million performance condition SARs. The following table summarizes the activities for all stock units under the Company’s share-based compensation plans for the year ended December 31, 2022:
|  | Number of Shares |  |  | Weighted- Average Grant Date Fair Value Per Share |
|  | (in thousands) |  |  |  |
Outstanding and nonvested as of December 31, 2021(1) |  |  | 3,400 |  |  | $ | 45.26 |
Granted(2) |  |  | 3,243 |  |  | $ | 28.01 |
Vested(3) |  |  | (1,081 | ) |  | $ | 47.66 |
Forfeited(4) |  |  | (1,024 | ) |  | $ | 41.84 |
Outstanding and nonvested as of December 31, 2022(1) |  |  | 4,538 |  |  | $ | 33.14 |
Expected to vest as of December 31, 2022(5) |  |  | 4,033 |  |  | $ | 32.45 |
(1) Includes 520,138 and 913,388 performance based stock unit awards as of December 31, 2022 and 2021, respectively, which represents the maximum amount that can vest. (2) Includes 559,430 performance-based stock unit awards. (3) Includes 270,021 performance-based stock unit awards. (4) Includes 682,659 performance-based stock unit awards. (5) Includes 136,409 performance-based stock unit awards.
Summary of Weighted-Average Assumptions used in Calculation of Fair Value for Service Condition Awards Granted | The following table summarizes the weighted-average assumptions used in the calculation of the fair value for service condition SARs awards granted during the year ended December 31, 2022:
|  | Year Ended December 31, 2022 |
Expected Volatility |  |  | 44.7 | %
Dividend Yield |  |  | 0.0 | %
Expected Term |  | 5.0 years |
Risk-Free Interest Rate |  |  | 3.8 | %

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- 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 -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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