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Equity Incentive Plans (Tables)
12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Restricted Stock Activity
The table below summarizes the restricted stock activity for the year ended December 31, 2025.
Number of SharesWeighted
Average
Grant Date
Fair Value
(in dollars)
2012 Omnibus Incentive Plan
Employee Stock Purchase Plan
Total
Nonvested restricted stock at December 31, 2024817 19 836 $78.68 
Granted293 18 311 $149.43 
Vested(330)(19)(349)$72.14 
Forfeited(63)(2)(65)$109.15 
Nonvested restricted stock at December 31, 2025717 16 733 $109.10 
Schedule of Performance-Based Stock Activity
The table below summarizes the performance-based stock activity for the year ended December 31, 2025. All nonvested performance-based stock outstanding at December 31, 2025 and 2024 was granted under the 2012 Omnibus Incentive Plan.
Number of
Shares
Weighted
Average
Grant Date
Fair Value
(in dollars)
Nonvested performance-based stock at December 31, 2024421 $78.27 
Granted(1)
223 $152.46 
Vested(275)$55.05 
Forfeited(2)
(89)$103.49 
Nonvested performance-based stock at December 31, 2025(3)
280 $115.92 
(1)Of the 223,000 shares granted in 2025, 98,659 shares represent the additional shares earned above the stated target based on the achievement of specific financial goals in the prior year. The remaining shares granted in 2025 are presented at the stated target, which represents the base number of shares that could be earned. Actual shares earned may be below or, for certain grants, above the target based on the achievement of specific financial goals.
(2)Forfeited shares include shares forfeited as a result of not meeting the performance criteria of the award as well as shares forfeited upon termination.
(3)Of the 280,000 nonvested performance-based shares outstanding as of December 31, 2025, 225,609 shares were unearned and subject to achievement of specific financial goals. Once earned, the awards will be subject to time-based vesting according to the terms of the award. Based on 2025 financial results, approximately 48,460 of the 225,609 unearned shares will be forfeited in the first quarter of 2026.
Schedule of Share-based Payment Arrangement, Performance-Based Option, Valuation Assumptions [Table Text Block]
The fair values of the performance-based stock options granted during 2025, 2024, and 2023 were calculated using the Black-Scholes option pricing model using the following assumptions:
202520242023
Black-Scholes performance-based option pricing model:
Expected dividend yield—%—%—%
Expected volatility35.0%40.0%40.0%
Risk-free rate
4.0%
4.2%
4.4%
Expected option life (in years)4.5 years4.5 years
4.5 years
Share-based Payment Arrangement, Performance-Based Option, Activity
Performance-based stock option activity for the year ended December 31, 2025 was as follows:
Number
of
Performance-based Options
(in thousands)
Weighted
Average
Exercise
Price
(in dollars)
Weighted
Average
Remaining
Contractual
Term
(in years)
Aggregate
Intrinsic
Value
(in millions)
Outstanding at December 31, 2024164 $72.44 5.0$8.5 
Granted(2)
24 $152.41 
Exercised(60)$62.97 $4.9 
Forfeited or expired(33)$101.65 
Outstanding at December 31, 2025(1)(3)
95 $88.26 4.4$8.0 
Exercisable at December 31, 202547 $60.94 3.6$5.2 
(1)All of the outstanding performance-based stock options were granted under the 2012 Omnibus Incentive Plan.
(2)Performance-based stock options granted in 2025 are presented at the stated target, which represents the base number of options that could be earned. Actual options earned may be below or, for certain grants, above the target based on the achievement of specific financial goals.
(3)Of the 95,000 outstanding performance-based stock options as of December 31, 2025, 21,710 were unearned and subject to achievement of specific financial goals. Once earned, the options will be subject to time-based vesting according to the terms of the award. Based on 2025 financial results, approximately 19,175 of the 21,710 unearned options will be forfeited in the first quarter of 2026.
Schedule of Stock Option Activity
Time-vested stock option activity for the year ended December 31, 2025 was as follows:
Number
of
Time-vested Options
(in thousands)
Weighted
Average
Exercise
Price
(in dollars)
Weighted
Average
Remaining
Contractual
Term
(in years)
Aggregate
Intrinsic
Value
(in millions)
Outstanding at December 31, 202425 $52.49 3.8$1.8 
Exercised(25)$52.49 $2.6 
Outstanding at December 31, 2025(1)
— $— — $— 
Exercisable at December 31, 2025— $— — $— 
(1)All of the outstanding time-vested stock options were granted under the 2012 Omnibus Incentive Plan.