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SHARE-BASED COMPENSATION PLANS (Tables)

12 Months Ended

Dec. 31, 2024

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)						2024						2023						2022
Restricted stock units						$	14,058					$	14,092					$	16,632
Performance share unit awards						4,705						4,127						3,840
Stock options						733						1,845						2,665
Employee stock purchase plan						448						461						539
Total share-based compensation expense						$	19,944					$	20,525					$	23,676
Income tax benefit						$	(6,347)					$	(7,408)					$	(6,853)

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(1) (in thousands)						Weighted-average remaining contractual term (in years)
Outstanding at December 31, 2023						1,380						$	44.91
Forfeited or expired						(183)						50.63
Outstanding at December 31, 2024						1,197						44.03						$	—					4.1
Exercisable at December 31, 2024						1,147						44.15						$	—					4.0

Restricted stock units rollforward

Information regarding our RSUs 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, 2023						1,221						$	23.34
Granted						925						20.35
Vested						(556)						23.47
Forfeited						(118)						21.37
Outstanding at December 31, 2024						1,472						21.57						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 to determine the fair value of market-based PSUs granted:

						2024						2023						2022
Risk-free interest rate						4.4		%				4.4		%				1.8		%
Dividend yield						6.0		%				6.1		%				3.7		%
Expected volatility						38.5		%				54.3		%				54.9		%

Performance share awards rollforward

Information regarding unvested PSUs 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, 2023						524						$	28.50
Granted(1)						273						18.56
Vested						(65)						47.62
Forfeited						(41)						33.35
Unvested at December 31, 2024						691						22.47						1.3

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

X

- 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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Tabular disclosure of the changes in outstanding nonvested performance-based units.

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Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

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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.

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