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STOCK-BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]  
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs
The components and classification of stock-based compensation expense were as follows (in thousands):
Year Ended December 31,
202220212020
Stock options$— $— $43 
RSUs and PRSUs21,023 16,185 9,120 
Total stock-based compensation expense$21,023 $16,185 $9,163 
Cost of sales$3,240 $3,365 $1,658 
SG&A15,234 11,579 6,942 
RD&E1,099 969 563 
Restructuring and other charges1,450 272 — 
Total stock-based compensation expense$21,023 $16,185 $9,163 
Income tax benefit recognized for stock-based compensation arrangements$2,908 $4,188 $3,169 
Schedule of Share-based Compensation, Stock Options, Activity The following table summarizes stock option activity during the year ended December 31, 2022:
Number of
Stock
Options
Weighted
Average
Exercise
Price
Weighted
Average
Remaining
Contractual
Term
(in years)
Aggregate
Intrinsic
Value
(in millions)
Outstanding at December 31, 2021247,640 $38.03 
Exercised(7,018)21.35 
Outstanding at December 31, 2022240,622 $38.51 3.2$7.2 
Vested and exercisable at December 31, 2022240,622 $38.51 3.2$7.2 
Schedule Of Stock Option Exercise Information The following table provides certain information relating to the exercise of stock options during 2022, 2021 and 2020 (in thousands):
202220212020
Intrinsic value$370 $2,370 $4,773 
Cash received150 743 3,263 
Actual tax benefit for the tax deductions from the exercise of options89 569 1,145 
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity The following table summarizes RSU activity during the year ended December 31, 2022:
Time-Vested
Activity
Weighted
Average Grant Date
Fair Value
Nonvested at December 31, 2021248,131 $81.14 
Granted221,352 75.87 
Vested(142,927)80.50 
Forfeited(34,627)80.14 
Nonvested at December 31, 2022291,929 $77.58 
The following table summarizes PRSU activity during the year ended December 31, 2022:
Performance-
Vested
Activity
Weighted
Average Grant Date
Fair Value
Nonvested at December 31, 2021198,869 $92.07 
Granted131,393 90.84 
Forfeited(66,356)96.70 
Nonvested at December 31, 2022263,906 $90.29 
Schedule of Share-based Payment Award, Equity Instruments Other Than Options, Valuation Assumptions The weighted average fair value and assumptions used to value the TSR portion of the PRSUs granted are as follows:
 202220212020
Weighted average fair value$97.58 $85.16 $107.27 
Risk-free interest rate1.58 %0.19 %1.29 %
Expected volatility42 %41 %30 %
Expected life (in years)3.93.02.9
Expected dividend yield— %— %— %