XML 44 R34.htm IDEA: XBRL DOCUMENT v3.23.1
Stock-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of Nonvested Restricted Stock Units Activity
The following table summarizes activity related to our restricted stock units ("RSUs") under the LKQ Corporation 1998 Equity Incentive Plan (the "Equity Incentive Plan") for the three months ended March 31, 2023 (in millions, except years and per share amounts):
Number Outstanding Weighted Average Grant Date Fair ValueWeighted Average Remaining Contractual Term (in years)
Aggregate Intrinsic Value(1)
Unvested as of January 1, 20231.3 $41.02 
Granted (2)
0.5 $56.99 
Vested(0.3)$39.37 
Unvested as of March 31, 20231.5 $47.30 
Expected to vest after March 31, 20231.3 $47.87 3.1$73 
(1)    The aggregate intrinsic value of expected to vest RSUs represents the total pretax intrinsic value (the fair value of LKQ's stock on the last day of the period multiplied by the number of units) that would have been received by the holders had all the expected to vest RSUs vested. This amount changes based on the market price of LKQ’s common stock.
(2)    The weighted average grant date fair value of RSUs granted during the three months ended March 31, 2022 was $48.97.
Schedule of Nonvested Performance-based Units Activity
The following table summarizes activity related to our performance-based RSUs ("PSUs") under the Equity Incentive Plan for the three months ended March 31, 2023 (in millions, except years and per share amounts):

Number OutstandingWeighted Average Grant Date Fair ValueWeighted Average Remaining Contractual Term (in years)
Aggregate Intrinsic Value(1)
Unvested as of January 1, 20230.5 $37.87 
Granted (2)
0.1 $56.99 
Vested(0.2)$32.53 
Unvested as of March 31, 20230.4 $46.86 
Expected to vest after March 31, 20230.3 $46.22 1.6$18 
(1)     The aggregate intrinsic value of expected to vest PSUs represents the total pretax intrinsic value (the fair value of LKQ's stock on the last day of each period multiplied by the number of units) that would have been received by the holders had all the expected to vest PSUs vested. This amount changes based on the market price of LKQ’s common stock and the achievement of the performance metrics relative to the established targets.
(2)    Represents the number of PSUs at target payout. The weighted average grant date fair value of PSUs granted during the three months ended March 31, 2022 was $48.92.