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SHARE-BASED COMPENSATION PLANS (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement, Noncash Expense [Abstract]

Share-based compensation expense

The following amounts were recognized in our consolidated statements of income for share-based compensation awards for the years ended December 31:

(in thousands)						2023						2022						2021
Restricted stock units						$	14,092					$	16,632					$	20,407
Performance share unit awards						4,127						3,840						4,338
Stock options						1,845						2,665						4,187
Employee stock purchase plan						461						539						545
Total share-based compensation expense						$	20,525					$	23,676					$	29,477
Income tax benefit						$	(7,408)					$	(6,853)					$	(7,714)

Weighted-average assumptions used in Black-Scholes option pricing model

The following weighted-average assumptions were used in the Black-Scholes option pricing model to determine the fair value of these stock option grants:

																		2021
Risk-free interest rate																		0.7		%
Dividend yield																		2.9		%
Expected volatility																		42.0		%
Weighted-average option life (in years)																		4.8

Stock options rollforward

Information regarding options issued under the current and all previous plans was as follows:

						Number of options (in thousands)						Weighted-average exercise price per option						Aggregate intrinsic value (in thousands)						Weighted-average remaining contractual term (in years)
Outstanding, December 31, 2022						1,732						$	44.77
Forfeited or expired						(352)						44.24
Outstanding, December 31, 2023						1,380						44.91						$	—					4.9
Exercisable at December 31, 2023						1,158						45.79						$	—					4.5

Restricted stock units rollforward

Information regarding our restricted stock units was as follows:

						Number of units (in thousands)						Weighted-average grant date fair value per unit						Weighted-average remaining vesting period (in years)
Outstanding at December 31, 2022						1,045						$	34.10
Granted						987						18.98
Vested						(475)						35.77
Forfeited						(336)						25.44
Outstanding at December 31, 2023						1,221						23.34						2.4

Weighted-average assumptions used in Monte Carlo simulation pricing model, performance share awards

The following weighted-average assumptions were used in the Monte Carlo simulation model in determining the fair value of market-based performance share units granted:

						2023						2022						2021
Risk-free interest rate						4.4		%				1.8		%				0.3		%
Dividend yield						6.1		%				3.7		%				4.4		%
Expected volatility						54.3		%				54.9		%				55.6		%

Performance share awards rollforward

Information regarding unvested performance share units was as follows:

						Performance share units (in thousands)						Weighted-average grant date fair value per unit						Weighted-average remaining contractual term (in years)
Unvested at December 31, 2022						461						$	34.35
Granted(1)						298						18.34
Forfeited						(235)						27.12
Unvested at December 31, 2023						524						28.50						1.5

(1) Reflects awards granted assuming achievement of performance goals at target.

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- Definition

Tabular disclosure of the significant assumptions used during the year to estimate the fair value of performance share awards using market conditions, including, but not limited to: (a) expected term of award, (b) expected volatility of the entity's shares, (c) expected dividends, and (d) risk-free rate(s).

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Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit.

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