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SHARE-BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement, Noncash Expense [Abstract]  
Schedule of Restricted Stock Units Activity

Activity

The following table shows our RSU activity for 2023:

 

 

 

RESTRICTED

 

 

WEIGHTED
AVERAGE

 

 

 

STOCK UNITS

 

 

GRANT-DATE

 

 

 

(IN THOUSANDS)

 

 

FAIR VALUE

 

Nonvested at December 31, 2022

 

 

1,573

 

 

$

34.93

 

Granted

 

 

844

 

 

$

33.81

 

Vested

 

 

(679

)

 

$

32.46

 

Forfeited

 

 

(37

)

 

$

35.67

 

Nonvested at December 31, 2023(1)

 

 

1,701

 

 

$

35.34

 

 

(1)
As of December 31, 2023, there were approximately 136 thousand RSUs that had met the requisite service period and will be released as identified in the grant terms.
Weighted Average Assumptions Used in Estimating the Value of Performance Share Units

Weighted Average Assumptions Used in Estimating the Value of PSUs

 

 

 

2023
 GRANTS

 

 

2022
 GRANTS

 

 

2021
 GRANTS

 

Performance period

 

2/09/2023 - 12/31/2025

 

 

2/10/2022 - 12/31/2024

 

 

2/11/2021 - 12/31/2023

 

Risk-free rate

 

4.21% - 4.66%

 

 

0.34% - 1.84%

 

 

0.02% - 0.20%

 

Volatility

 

29.26% - 40.19%

 

 

26.27% - 41.01%

 

 

32.87% - 52.82%

 

Weighted average grant-date fair value

 

$

37.58

 

 

$

49.77

 

 

$

38.50

 

 

Schedule of Performance Share Units Activity

Activity

The following table shows our PSU activity for 2023:

 

 

 

PERFORMANCE SHARE UNITS

 

 

WEIGHTED
AVERAGE
GRANT-DATE

 

 

 

(IN THOUSANDS)

 

 

FAIR VALUE

 

Nonvested at December 31, 2022

 

 

962

 

 

$

39.77

 

Granted at target

 

 

392

 

 

$

37.58

 

Vested

 

 

(243

)

 

$

33.16

 

Forfeited

 

 

(4

)

 

$

39.86

 

Performance adjustment

 

 

(123

)

 

$

33.16

 

Nonvested at December 31, 2023(1)

 

 

984

 

 

$

41.35

 

 

(1)
As of December 31, 2023, there were approximately 33 thousand PSUs that had met the requisite service period and will be released as identified in the grant terms.