Stock-Based Compensation (Tables)
|
6 Months Ended |
Jun. 30, 2025 |
Share-Based Payment Arrangement [Abstract] |
|
Stock-Based Compensation Expense and Related Tax Benefit |
Total stock-based compensation expense and the related tax benefit were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | In thousands | 2025 | | 2024 | | 2025 | | 2024 | | | | | | | | | Restricted stock units | $ | 16,618 | | | $ | 10,080 | | | $ | 32,956 | | | $ | 21,173 | | Unrestricted stock awards | 220 | | | 336 | | | 440 | | | 672 | | Phantom stock units | 1,867 | | | 1,312 | | | 2,566 | | | 2,761 | | Total stock-based compensation | $ | 18,705 | | | $ | 11,728 | | | $ | 35,962 | | | $ | 24,606 | | | | | | | | | | Related tax benefit | $ | 4,140 | | | $ | 2,551 | | | $ | 8,212 | | | $ | 5,350 | |
|
Employee Stock Options Activity |
A summary of our stock option activity is as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Shares | | Weighted Average Exercise Price per Share | | Weighted Average Remaining Contractual Life | | Aggregate Intrinsic Value | | Weighted Average Grant Date Fair Value | | In thousands | | | | Years | | In thousands | | | Outstanding, January 1, 2024 | 363 | | | $ | 61.36 | | | 4.0 | | $ | 5,886 | | | | | | | | | | | | | | Granted | — | | | — | | | | | | | $ | — | | Exercised | (19) | | | 44.74 | | | | | 779 | | | | Forfeited | — | | | — | | | | | | | | Canceled | — | | | — | | | | | | | | Outstanding, June 30, 2024 | 344 | | | $ | 62.27 | | | 3.5 | | $ | 12,626 | | | | | | | | | | | | | | Outstanding, January 1, 2025 | 274 | | | $ | 64.55 | | | 3.2 | | $ | 12,087 | | | | Granted | — | | | — | | | | | | | $ | — | | Exercised | (83) | | | 39.28 | | | | | 6,259 | | | | | | | | | | | | | | Forfeited | — | | | — | | | | | | | | Canceled | — | | | — | | | | | | | | Outstanding, June 30, 2025 | 191 | | | $ | 75.51 | | | 3.6 | | $ | 10,745 | | | | | | | | | | | | | | Exercisable, June 30, 2025 | 191 | | | $ | 75.51 | | | 3.6 | | $ | 10,745 | | | | | | | | | | | | | | | | | | | | | | | |
|
Restricted Stock Units Award Activity |
The following table summarizes restricted stock unit activity: | | | | | | | | | | | | | | | | | | In thousands, except fair value | Number of Restricted Stock Units | | Weighted Average Grant Date Fair Value | | Aggregate Intrinsic Value | Outstanding, January 1, 2024 | 751 | | | | | | | | | | | | Granted | 410 | | | $ | 75.89 | | | | Released (1) | (360) | | | | | $ | 28,739 | | Forfeited | (10) | | | | | | Outstanding, June 30, 2024 | 791 | | | | | | | | | | | | Outstanding, January 1, 2025 | 831 | | | $ | 67.71 | | | | Granted | 314 | | | 98.14 | | | | Released (1) | (471) | | | 66.40 | | | $ | 46,091 | | Forfeited | (16) | | | 80.02 | | | | Outstanding, June 30, 2025 | 658 | | | 83.05 | | | | | | | | | | Vested but not released, June 30, 2025 | 18 | | | | | $ | 2,338 | | | | | | | | | | | | | |
(1) Shares released is presented as gross shares and does not reflect shares withheld by us for employee payroll tax obligations.
|
Restricted Stock Units, Valuation Assumptions |
The weighted average assumptions used to estimate the fair value of performance-based restricted stock units granted with a service and market condition and the resulting weighted average fair value are as follows: | | | | | | | | | | | | | | | | | | | Six Months Ended June 30, | | | | | | 2025 | | 2024 | | | | | | | | | Expected volatility | | | | | 40.7 | % | | 45.7 | % | Risk-free interest rate | | | | | 4.2 | % | | 4.4 | % | Expected term (years) | | | | | 2.9 | | 2.9 | | | | | | | | | Weighted average fair value | | | | | $ | 105.89 | | | $ | 83.26 | |
|