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Share-Based Compensation Plans (Tables)
12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of the Allocation of Performance Shares Between Total Shareholder Return, Earnings per Share, and Return on Invested Capital
The allocation of performance shares granted between total shareholder return, earnings per share and return on invested capital were as follows for the years ended December 31:
202320222021
Total shareholder return45 %45 %45 %
Earnings per share36 %36 %36 %
Return on invested capital18 %18 %18 %
Schedule of Disclosure of Share-based Compensation Arrangements by Share-based Payment Award
A summary of the status of the Company’s non-vested share units and performance shares as of December 31, 2023 and the changes during the year then ended, are presented below:
Time-based awardsPerformance-based awards
Share unitsWeighted-
average grant
date fair value
Performance
shares
Weighted-
average grant
date fair value
Non-vested as of January 1, 2023570,803$22.29 767,592$24.03 
Granted253,630$18.48 261,202$17.08 
Vested(264,566)$20.88 (6,289)$29.27 
Forfeited or cancelled(149,151)$23.65 (603,556)$22.45 
Non-vested as of December 31, 2023410,716$20.35 418,949$21.89 
A summary of the status of the Company’s non-vested share units and performance shares as of December 31, 2022 and the changes during the year then ended, are presented below:
Time-based awardsPerformance-based awards
Share unitsWeighted-
average grant
date fair value
Performance
shares
Weighted-
average grant
date fair value
Non-vested as of January 1, 2022450,331$26.55 578,985$28.42 
Granted335,044$18.71 361,982$20.64 
Vested(168,222)$27.12 (2,317)$22.70 
Forfeited or cancelled(46,350)$20.17 (171,058)$31.75 
Non-vested as of December 31, 2022570,803$22.29 767,592$24.03