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Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of Share-Based Compensation Expense
The following table summarizes the stock-based compensation expense recognized under all of the Company’s stock plans in 2023, 2022 and 2021, and associated with the issuance of restricted shares of common stock and vesting of stock options that are included in general and administrative expenses in the accompanying consolidated statements of income recognized (in thousands):
Years ended December 31,
202320222021
Stock options$1,790 $3,792 $2,480 
Restricted stock awards20,250 12,309 4,265 
Total share-based compensation expense$22,040 $16,101 $6,745 
Schedule of Stock Option Transactions Under Stock Option Plans
The Company’s outstanding stock options consisted of the following:
SharesWeighted-Average
Exercise Price
Weighted-Average
Remaining
Contractual
Term
(Years)
Aggregate
Intrinsic
Value
(in millions)
Options outstanding at January 1, 2023859,850 $25.88 2.19$10.3 
Options granted— — — — 
Options exercised(140,000)10.87 — 3.5 
Options canceled, forfeited or expired(215,609)16.56 — — 
Options outstanding at December 31, 2023504,241 $34.03 2.10$4.7 
Options exercisable at December 31, 2023466,411 $28.36 1.87$4.7 
Share-based Payment Arrangement, Restricted Stock Activity
The Company’s unvested restricted stock award activity for the year ended December 31, 2023 consisted of the following:
Restricted Stock AwardsPerformance Based Restricted Stock Awards
Number of
Shares
Weighted Average
Grant-Date Fair Value
Number of
Shares
Weighted Average
Grant-Date Fair Value
Unvested as of January 1, 2023539,632$72.58289,635$41.14
Granted 480,22833.90561,38633.61
Vested(260,637)39.39(158,421)37.94
Forfeited(45,939)36.57(65,267)42.66
Unvested as of December 31, 2023713,284$60.98627,333$35.05