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Stock-Based Compensation Plans (Tables)
3 Months Ended
Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Option Activity
A summary of stock option activity is as follows:
Number of
Shares
Weighted Average
Exercise Price ($)
Weighted Average
Remaining Contractual
Term (Years)
Aggregate Intrinsic Value
of In-the-Money
Options ($)
Outstanding as of December 31, 2023873,512 $18.76 
Exercised(25,513)18.62 
Outstanding as of March 31, 2024847,999 $18.76 1.76$10,040,262 
Exercisable as of March 31, 2024847,999 $18.76 1.76$10,040,262 
Schedule of Nonvested Total Shareholder Return Awards
A summary of nonvested TSRs is as follows:
Number of
Shares
Weighted Average
Grant Date Fair Value
Nonvested as of December 31, 2023673,126 $40.73 
Granted561,471 34.00 
Forfeited(8,304)37.01 
Change in payout rate(203,945)50.60 
Nonvested as of March 31, 20241,022,348 $35.10 
Schedule of Fair Value of TSRs
The fair value of TSRs granted during the three months ended March 31, 2024, were estimated on the date of grant using the Monte Carlo simulation model, acceptable under ASC 718, Compensation - Stock Compensation, using the following weighted average assumptions:
Three Months Ended March 31, 2024
Expected life (years)2.7
Risk-free interest rate4.4 %
Expected volatility36.8 %
Expected dividend yield— 
Schedule of Nonvested Restricted Share Unit Awards
A summary of nonvested restricted share unit awards ("RSUs") is as follows:
Number of
Shares
Weighted Average
Grant Date Fair Value
Nonvested as of December 31, 20231,574,883 $26.81 
Granted1,242,902 31.94 
Vested(292,250)31.32 
Forfeited(31,893)26.90 
Nonvested as of March 31, 20242,493,642 $28.84