v3.25.0.1
STOCK-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Summary of Share-Based Compensation Expense
Year Ended December 31,
202420232022
Restricted and deferred stock units$28,395 $19,502 $19,401 
Performance stock units19,877 15,429 11,966 
Total stock-based compensation$48,272 $34,931 $31,367 
Summary of Unrecognized Compensation Expense and Vesting Criterion
As of December 31, 2024, unrecognized compensation expense related to the awards granted under the LTIP will be amortized through the relevant periods as follows (in thousands):
Unrecognized Compensation ExpenseFinal Year of Recognition
Restricted and deferred stock units$34,232 2027
Performance stock units22,877 2026
Total unrecognized stock-based compensation$57,109 
Summary of the Status and Activity of Non-Vested RSUs, DSUs, and Options
The following table presents the changes in non-vested RSUs and DSUs for the year ended December 31, 2024:
 RSUs and DSUsWeighted-Average Grant-Date Fair Value
Non-vested, beginning of year855,627 $66.31 
Granted477,506 64.30 
Vested(317,672)64.94 
Forfeited(82,559)66.89 
Non-vested, end of year932,902 $65.69 
Summary of the Status and Activity of PSUs PSUs for the year ended December 31, 2024:
 
PSUs
Weighted-Average Grant-Date Fair Value
Non-vested, beginning of year472,593 $92.08 
Granted(1)
270,509 74.55 
Additional shares based on performance(2)
59,504 97.45 
Vested(2)
(139,218)91.59 
Forfeited(13,342)99.71 
Non-vested, end of year(1)
650,046 $85.23 
___________________________
(1)The number of awards assumes that the associated performance condition is met at the target amount (multiplier of one). The final number of shares of our common stock issued may vary depending on the performance multiplier, which ranges from zero to 225% (or, for PSUs granted prior to fiscal year 2023, 200%), depending on the level of satisfaction of the performance condition.
(2)Upon completion of the performance period for the PSUs granted in 2021, a performance achievement of 200% or 141%, as applicable, was applied to each of the grants, resulting in a number of shares greater than the target amount of such PSUs vesting and being settled during the year ended December 31, 2024.