v3.24.3
Stock-based Compensation (Tables)
 9 Months Ended
Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Fair Values of Options, Black-Scholes Option-Pricing Model, Weighted-Average Assumptions
The fair values of the options granted for the periods presented were estimated on the dates of grants using the Black-Scholes option-pricing model with the following weighted-average assumptions:
Nine Months Ended September 30,
20242023
Risk-free interest rate4.13 %4.26 %
Expected volatility48.05 %49.92 %
Expected life (in years)5.085.12
Dividend yield——
Stock Options Outstanding and Activity During the Period
The following table summarizes all stock option activity for the nine months ended September 30, 2024 (in millions, except per share amounts and time periods):
Options OutstandingWeighted-Average Exercise PriceWeighted-Average Remaining Contractual Term (Years)
Aggregate Intrinsic Value1
Balance as of December 31, 2023
1.1$41.38 5.8$51.3 
Granted0.185.18 
Exercised(0.2)34.46 
Canceled/Forfeited(0.0)61.58 
Balance as of September 30, 2024
1.0$46.92 5.6$40.3 
Vested and expected to vest after September 30, 2024
1.0$46.54 5.6$40.2 
Exercisable as of September 30, 2024
0.8$39.30 4.8$37.1 
1.Aggregate intrinsic value represents the difference between the closing fair value of the underlying common stock and the exercise price of outstanding, in-the-money options on the date of measurement.
Stock Option Grants, Vesting, and Exercises The following table summarizes additional information on stock options (in millions, except per share amounts):
Nine Months Ended September 30,
20242023
Weighted-average fair value per share of stock options granted
$40.34 $31.86 
Total grant date fair value of stock options vested$2.7 $1.9 
Total intrinsic value of stock options exercised$10.7 $7.6 
Restricted Shares and Units Outstanding and Activity During the Period
The following table summarizes all RSU activity for the nine months ended September 30, 2024 (in millions, except grant date fair value amounts):
RSUs OutstandingWeighted-Average Grant Date Fair Value
Balance as of December 31, 2023
1.2$53.14 
Granted0.4$85.71 
Released(0.3)$52.01 
Canceled/Forfeited(0.1)$60.28 
Balance as of September 30, 2024
1.2$62.70 
Vested and expected to vest after September 30, 2024
1.2$62.31 
Schedule Of Restricted Stock Units Additional Information
The following table summarizes additional information regarding RSUs (in millions, except per share amounts):
Nine Months Ended September 30,
20242023
Weighted-average fair value per share of RSUs granted$85.71 $63.06 
Total grant date fair value of RSUs vested$13.6 $7.1 
Total intrinsic value of RSUs released$25.2 $11.8