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SHARE-BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Summary of Additional Information Related to Share-based Compensation
The following table provides details of the significant inputs used in the Monte Carlo simulation model:
Year ended December 31,
2024
2023 (1)
2023 (2)
2023 (3)
2022
Expected volatility 26.00%36.24%29.30%30.05%33.44%
Expected term (in years)3.03.01.03.03.0
Expected dividend yieldn/an/an/an/an/a
Risk-free interest rate4.06%3.79%4.61%3.39%1.26%
n/a - not applicable
(1) Performance restricted stock units granted in the ordinary course of business
(2) Performance restricted stock units granted in the three months ended March 31, 2023 in relation to senior leadership transition
(3) Performance restricted stock units granted in the three months ended June 30, 2023 in relation to senior leadership transition
The following table provides additional information related to share-based compensation:
Year ended December 31,202420232022
Share-based compensation expense (1)
$42,713 $57,729 $56,136 
Tax benefits associated with share-based compensation expense$8,007 $8,819 $8,839 
Liability for cash-settled restricted stock units (2)
$— $— $4,792 
Fair value of restricted stock units vested (3)
$46,884 $64,156 $49,792 
Unrecognized share-based compensation expense$60,192 $62,416 $74,601 
Expected weighted average period associated with the recognition of unrecognized share-based compensation expense2.4 years2.4 years2.3 years
(1)    Related to share-settled restricted stock units and cash-settled restricted stock units.
(2)    Included in other liabilities in the consolidated balance sheets.
(3)    Fair value is based on the closing price of the Company's common shares on the vest date.
Summary of Reconciliation of Beginning and Ending Balance of Non Vested Restricted Stock (Including RSUs) to be Settled in Shares
The following table provides an activity summary of the Company's share-settled restricted stock units:
Share-Settled Performance
Restricted Stock Units
Share-Settled Service
Restricted Stock Units
Number of
restricted
stock units
Weighted average grant date
fair value
Number of
restricted
stock units
Weighted average
grant date
fair value
Nonvested restricted stock units - December 31, 2022
330 $60.01 2,117 $53.16 
Granted122 66.13 918 57.53 
Vested(88)63.88 (929)53.02 
Forfeited(220)58.15 (251)54.49 
Nonvested restricted stock units - December 31, 2023
144 65.69 1,855 55.21 
Granted104 65.77 748 60.50 
Vested  (759)54.65 
Forfeited(1)65.78 (202)56.66 
Nonvested restricted stock units - December 31, 2024
247 $65.73 1,642 $57.73 
Summary of Activity of Cash-Settled Restricted Stock Units
The following table provides an activity summary of the Company's cash-settled restricted stock units:
Cash-Settled Service Restricted Stock Units
Number of
restricted stock units
Nonvested restricted stock units - December 31, 2022
60 
Granted— 
Vested(59)
Forfeited(1)
Nonvested restricted stock units - December 31, 2023 (1)
 
(1)    No further cash-settled restricted stock units were granted subsequent to 2019 and all cash-settled restricted stock units were vested at December 31, 2023.