SHAREHOLDERS' EQUITY

3 Months Ended

Mar. 31, 2024

Stockholders' Equity Note [Abstract]

SHAREHOLDERS' EQUITY

SHAREHOLDERS’ EQUITY

Share-Based Compensation

The Company recognized approximately $9.1 million and $21.7 million in share-based compensation expense for the three months ended March 31, 2024 and March 31, 2023, respectively. The expense for the three months ended March 31, 2023 includes $15.7 million related to the accelerated vesting of awards for certain former Altra employees. The total income tax benefit recognized in the Condensed Consolidated Statements of Income (Loss) for share-based compensation expense was $2.1 million and $1.4 million for the three months ended March 31, 2024 and March 31, 2023, respectively. The Company recognizes compensation expense on grants of share-based compensation awards on a straight-line basis over the vesting period of each award.

During the three months ended March 31, 2024, the Company granted the following share-based incentive awards:

Award Type	Number of Awards	Weighted Average Grant-Date Fair Value
Options and SARs	99,566	$	62.85
Restricted Stock Units	107,395	$	167.43
Performance Share Units	53,206	$	245.81