XML 145 R2.htm IDEA: XBRL DOCUMENT v3.25.1
Pay vs Performance Disclosure
12 Months Ended
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Pay vs Performance Disclosure          
Pay vs Performance Disclosure, Table
          Value of Initial Fixed $100
Investment Based On:
5
   
                 
Year1 Summary
Compensation
Table Total for
PEO ($)
2
Compensation
Actually Paid to
PEO ($)
3
Average Summary
Compensation Table
Total for Non-PEO
Named Executive
Officers ($)
2
Average 
Compensation
Actually Paid
To Non-PEO
Named Executive
Officers ($)
4
Total
Shareholder
Return ($)
Peer Group
Total Shareholder
Return ($)
6
Net
Income ($M)
Adjusted
Earnings
Per Share
7
2024 $10,991,417 $279,699 $2,119,309 $764,159 $117.40 $224.22 $130.1 $4.57
2023 $10,846,398 $13,952,028 $2,029,505 $2,437,838 $172.04 $206.61 $420.4 $8.80
2022 $9,538,138 $2,922,362 $2,051,256 $1,050,316 $126.14 $165.18 $677.0 $10.03
2021 $9,637,406 $20,403,706 $2,217,465 $3,806,236 $171.03 $209.13 $593.3 $8.28
2020 $7,820,863 $11,771,626 $1,879,405 $2,411,473 $128.96 $125.94 $372.7 $5.07

 

1 David M. Foulkes served as the Company’s principal executive officer for the entirety of 2020, 2021, 2022, 2023 and 2024 and the Company’s other NEOs for the applicable years were as follows:
  - 2024: Ryan M. Gwillim, Aine L. Denari, Brenna D. Preisser, and John G. Buelow
  - 2023: Ryan M. Gwillim, Aine L. Denari, Brenna D. Preisser, and Christopher F. Dekker
  - 2022: Ryan M. Gwillim, Christopher D. Drees, Christopher F. Dekker, and Brenna D. Preisser
  - 2021: Ryan M. Gwillim, Christopher D. Drees, Brenna D. Preisser, and Christopher F. Dekker
  - 2020: Ryan M. Gwillim, Brett A. Dibkey, Christopher D. Drees, Brenna D. Preisser, and William L. Metzger
2 Amounts reported in this column represent (i) the total compensation reported in the Summary Compensation Table for the applicable year in the case of Mr. Foulkes and (ii) the average of the total compensation reported in the Summary Compensation Table for the applicable year for the Company’s NEOs for the applicable year other than the principal executive officer for such years.
3 Amounts reported in this column represent the compensation actually paid to Mr. Foulkes as the Company’s principal executive officer in the indicated fiscal years, based on his total compensation reported in the Summary Compensation Table for the indicated fiscal years and adjusted as shown in the table below:

 

PEO Summary
Compensation
Table Total
(a)
Less, Grant Date
Fair Value of
Option Awards
and Stock Awards
Granted in Fiscal
Year
(b)
Plus, Fair Value at
Fiscal Year-End of
Outstanding and
Unvested Option
Awards and Stock
Awards Granted in
Fiscal Year
(c)
Plus, Change in Fair
Value of Outstanding
and Unvested Option
Awards and Stock
Awards Granted in
Prior Fiscal Years
(d)

Plus, Fair Value at
Vesting of Option
Awards and Stock
Awards Granted
in Fiscal Year That

Vested During Fiscal
Year
(e)

Plus, Change in
Fair Value of Stock
Awards Granted

in Prior Years that
Vested During Fiscal
Year
(f)

Less, Fair Value as
of Prior Fiscal Year-
End Fair Value For
any Stock Awards
Forfeited During
Fiscal Year
(g)
Compensation
Actually Paid
to PEO
2024 $10,991,417 $9,537,788 $6,804,204 ($7,230,638) $ — ($747,496) $ — $279,699
2023 $10,846,398 $8,179,896 $9,232,675 ($131,506) $ — $2,184,357 $ — $13,952,028
2022 $9,538,138 $6,844,580 $5,197,362 ($2,643,131) $ — ($2,325,427) $ — $2,922,362
2021 $9,637,406 $5,761,310 $6,525,283 $6,377,756 $ — $3,624,571 $ — $20,403,706
2020 $7,820,863 $5,000,158 $5,773,382 $2,872,573 $ — $304,966 $ — $11,771,626

 

  (a)  Represents Total Compensation as reported in the Summary Compensation Table for the indicated fiscal year.
  (b)  Represents the aggregate grant date fair value of the stock awards granted to Mr. Foulkes during the indicated fiscal year, computed in accordance with FASB ASC 718.
  (c)  Represents the aggregate fair value as of the indicated fiscal year-end of Mr. Foulkes’s outstanding and unvested stock awards granted during such fiscal year, computed in accordance with FASB ASC 718.
  (d)  Represents the aggregate change in fair value during the indicated fiscal year of the outstanding and unvested stock awards held by Mr. Foulkes as of the last day of the indicated fiscal year, computed in accordance with FASB ASC 718 and, for awards subject to performance-based vesting conditions, based on the probable outcome of such performance-based vesting conditions as of the last day of the fiscal year.
  (e)  Represents the aggregate fair value at vesting of the stock awards that were granted to Mr. Foulkes and vested during the indicated fiscal year, computed in accordance with FASB ASC 718.
  (f)  Represents the aggregate change in fair value, measured from the prior fiscal year-end to the vesting date, of each stock award held by Mr. Foulkes that was granted in a prior fiscal year and which vested during the indicated fiscal year, computed in accordance with FASB ASC 718.
  (g)  Represents the aggregate fair value as of the last day of the prior fiscal year of Mr. Foulkes’s stock awards that were granted in a prior fiscal year and which failed to meet the applicable vesting conditions in the indicated fiscal year, computed in accordance with FASB ASC 718.
4 Amounts reported in this column represent the compensation actually paid to the Company’s NEOs other than Mr. Foulkes in the indicated fiscal year, based on the average total compensation for such NEOs reported in the Summary Compensation Table for the indicated fiscal year and adjusted as shown in the table below:

 

 

OTHER
NEOs
AVERAGE(a)

Summary
Compensation
Table Total
(b)

Less, Grant Date
Fair Value of
Option Awards
and Stock Awards
Granted in

Fiscal Year(c)

Plus, Fair Value at
Fiscal Year-End of
Outstanding and
Unvested Option
Awards and Stock
Awards Granted in
Fiscal Year
(d)
Plus, Change in Fair
Value of Outstanding
and Unvested Option
Awards and Stock
Awards Granted in
Prior Fiscal Years
(e)

Plus, Fair Value at
Vesting of Option
Awards and Stock
Awards Granted
in Fiscal Year

That Vested During
Fiscal Year
(f)

Plus, Change in
Fair Value of Stock
Awards Granted

in Prior Years that
Vested During
Fiscal Year
(g)

Less, Fair Value as
of Prior Fiscal Year-
End Fair Value For
any Stock Awards
Forfeited During
Fiscal Year
(h)
Compensation
Actually Paid to
Other NEOs
2024 $2,119,309 $1,425,021 $1,032,322 ($874,760) $ — ($87,691) $ —   $764,159
2023 $2,029,505 $999,598 $1,128,251 ($8,970) $ — $288,649 $ —   $2,437,838
2022 $2,051,256 $1,037,591 $787,884 ($393,091) $ — ($358,142) $ —   $1,050,316
2021 $2,217,465 $874,761 $990,758 $924,216 $ — $548,558 $ —   $3,806,236
2020 $1,879,405 $834,298 $875,309 $426,491 $ — $157,946 $93,380 $2,411,473

 

  a  Please see footnote 1 for the NEOs included in the average for each indicated fiscal year.
  b  Represents the average Total Compensation as reported in the Summary Compensation Table for the reported NEOs in the indicated fiscal year.
  c Represents the average aggregate grant date fair value of the stock awards granted to the reported NEOs during the indicated fiscal year, computed in accordance with FASB ASC 718.
  d  Represents the average aggregate fair value as of the indicated fiscal year-end of the reported NEOs’ outstanding and unvested stock awards granted during such fiscal year, computed in accordance with FASB ASC 718.
  e  Represents the average aggregate change in fair value during the indicated fiscal year of the outstanding and unvested stock awards held by the reported NEOs as of the last day of the indicated fiscal year, computed in accordance with FASB ASC 718 and, for awards subject to performance-based vesting conditions, based on the probable outcome of such performance-based vesting conditions as of the last day of the fiscal year.
  f  Represents the average aggregate fair value at vesting of the stock awards that were granted to the reported NEOs and vested during the indicated fiscal year, computed in accordance with FASB ASC 718.
  g  Represents the average aggregate change in fair value, measured from the prior fiscal year-end to the vesting date, of each stock award held by the reported NEOs that was granted in a prior fiscal year and which vested during the indicated fiscal year, computed in accordance with FASB ASC 718.
  h  Represents the average aggregate fair value as of the last day of the prior fiscal year of the reported NEOs’ stock awards that were granted in a prior fiscal year and which failed to meet the applicable vesting conditions in the indicated fiscal year, computed in accordance with FASB ASC 718.

5  Pursuant to rules of the SEC, the comparison assumes $100 was invested on December 31, 2019 in our common stock. Historic stock price performance is not necessarily indicative of future stock price performance.
6  The TSR Peer Group consists of the S&P 400 Consumer Discretionary Index, an independently prepared index that includes those companies included in the S&P MidCap 400 that are classified as members of the GICS Consumer Discretionary sector.
7  For 2024, the Compensation Committee determined that Adjusted Earnings Per Share (EPS) continues to be viewed as a core driver of the Company’s performance and stockholder value creation. Adjusted EPS is a non-GAAP financial measure. Please see the Appendix for a reconciliation of non-GAAP financial measures.
       
Company Selected Measure Name Adjusted Earnings Per Share        
Named Executive Officers, Footnote David M. Foulkes served as the Company’s principal executive officer for the entirety of 2020, 2021, 2022, 2023 and 2024 and the Company’s other NEOs for the applicable years were as follows:  -2024: Ryan M. Gwillim, Aine L. Denari, Brenna D. Preisser, and John G. Buelow -2023: Ryan M. Gwillim, Aine L. Denari, Brenna D. Preisser, and Christopher F. Dekker -2022: Ryan M. Gwillim, Christopher D. Drees, Christopher F. Dekker, and Brenna D. Preisser -2021: Ryan M. Gwillim, Christopher D. Drees, Brenna D. Preisser, and Christopher F. Dekker -2020: Ryan M. Gwillim, Brett A. Dibkey, Christopher D. Drees, Brenna D. Preisser, and William L. Metzger        
Peer Group Issuers, Footnote 6 The TSR Peer Group consists of the S&P 400 Consumer Discretionary Index, an independently prepared index that includes those companies included in the S&P MidCap 400 that are classified as members of the GICS Consumer Discretionary sector.        
PEO Total Compensation Amount $ 10,991,417 $ 10,846,398 $ 9,538,138 $ 9,637,406 $ 7,820,863
PEO Actually Paid Compensation Amount $ 279,699 13,952,028 2,922,362 20,403,706 11,771,626
Adjustment To PEO Compensation, Footnote Amounts reported in this column represent the compensation actually paid to Mr. Foulkes as the Company’s principal executive officer in the indicated fiscal years, based on his total compensation reported in the Summary Compensation Table for the indicated fiscal years and adjusted as shown in the table below:
PEO Summary
Compensation
Table Total
(a)
Less, Grant Date
Fair Value of
Option Awards
and Stock Awards
Granted in Fiscal
Year
(b)
Plus, Fair Value at
Fiscal Year-End of
Outstanding and
Unvested Option
Awards and Stock
Awards Granted in
Fiscal Year
(c)
Plus, Change in Fair
Value of Outstanding
and Unvested Option
Awards and Stock
Awards Granted in
Prior Fiscal Years
(d)

Plus, Fair Value at
Vesting of Option
Awards and Stock
Awards Granted
in Fiscal Year That

Vested During Fiscal
Year
(e)

Plus, Change in
Fair Value of Stock
Awards Granted

in Prior Years that
Vested During Fiscal
Year
(f)

Less, Fair Value as
of Prior Fiscal Year-
End Fair Value For
any Stock Awards
Forfeited During
Fiscal Year
(g)
Compensation
Actually Paid
to PEO
2024 $10,991,417 $9,537,788 $6,804,204 ($7,230,638) $ — ($747,496) $ — $279,699
2023 $10,846,398 $8,179,896 $9,232,675 ($131,506) $ — $2,184,357 $ — $13,952,028
2022 $9,538,138 $6,844,580 $5,197,362 ($2,643,131) $ — ($2,325,427) $ — $2,922,362
2021 $9,637,406 $5,761,310 $6,525,283 $6,377,756 $ — $3,624,571 $ — $20,403,706
2020 $7,820,863 $5,000,158 $5,773,382 $2,872,573 $ — $304,966 $ — $11,771,626
  (a)  Represents Total Compensation as reported in the Summary Compensation Table for the indicated fiscal year.
  (b)  Represents the aggregate grant date fair value of the stock awards granted to Mr. Foulkes during the indicated fiscal year, computed in accordance with FASB ASC 718.
  (c)  Represents the aggregate fair value as of the indicated fiscal year-end of Mr. Foulkes’s outstanding and unvested stock awards granted during such fiscal year, computed in accordance with FASB ASC 718.
  (d)  Represents the aggregate change in fair value during the indicated fiscal year of the outstanding and unvested stock awards held by Mr. Foulkes as of the last day of the indicated fiscal year, computed in accordance with FASB ASC 718 and, for awards subject to performance-based vesting conditions, based on the probable outcome of such performance-based vesting conditions as of the last day of the fiscal year.
  (e)  Represents the aggregate fair value at vesting of the stock awards that were granted to Mr. Foulkes and vested during the indicated fiscal year, computed in accordance with FASB ASC 718.
  (f)  Represents the aggregate change in fair value, measured from the prior fiscal year-end to the vesting date, of each stock award held by Mr. Foulkes that was granted in a prior fiscal year and which vested during the indicated fiscal year, computed in accordance with FASB ASC 718.
  (g)  Represents the aggregate fair value as of the last day of the prior fiscal year of Mr. Foulkes’s stock awards that were granted in a prior fiscal year and which failed to meet the applicable vesting conditions in the indicated fiscal year, computed in accordance with FASB ASC 718.
       
Non-PEO NEO Average Total Compensation Amount $ 2,119,309 2,029,505 2,051,256 2,217,465 1,879,405
Non-PEO NEO Average Compensation Actually Paid Amount $ 764,159 2,437,838 1,050,316 3,806,236 2,411,473
Adjustment to Non-PEO NEO Compensation Footnote
4 Amounts reported in this column represent the compensation actually paid to the Company’s NEOs other than Mr. Foulkes in the indicated fiscal year, based on the average total compensation for such NEOs reported in the Summary Compensation Table for the indicated fiscal year and adjusted as shown in the table below:

 

OTHER
NEOs
AVERAGE(a)

Summary
Compensation
Table Total
(b)

Less, Grant Date
Fair Value of
Option Awards
and Stock Awards
Granted in

Fiscal Year(c)

Plus, Fair Value at
Fiscal Year-End of
Outstanding and
Unvested Option
Awards and Stock
Awards Granted in
Fiscal Year
(d)
Plus, Change in Fair
Value of Outstanding
and Unvested Option
Awards and Stock
Awards Granted in
Prior Fiscal Years
(e)

Plus, Fair Value at
Vesting of Option
Awards and Stock
Awards Granted
in Fiscal Year

That Vested During
Fiscal Year
(f)

Plus, Change in
Fair Value of Stock
Awards Granted

in Prior Years that
Vested During
Fiscal Year
(g)

Less, Fair Value as
of Prior Fiscal Year-
End Fair Value For
any Stock Awards
Forfeited During
Fiscal Year
(h)
Compensation
Actually Paid to
Other NEOs
2024 $2,119,309 $1,425,021 $1,032,322 ($874,760) $ — ($87,691) $ —   $764,159
2023 $2,029,505 $999,598 $1,128,251 ($8,970) $ — $288,649 $ —   $2,437,838
2022 $2,051,256 $1,037,591 $787,884 ($393,091) $ — ($358,142) $ —   $1,050,316
2021 $2,217,465 $874,761 $990,758 $924,216 $ — $548,558 $ —   $3,806,236
2020 $1,879,405 $834,298 $875,309 $426,491 $ — $157,946 $93,380 $2,411,473
  a  Please see footnote 1 for the NEOs included in the average for each indicated fiscal year.
  b  Represents the average Total Compensation as reported in the Summary Compensation Table for the reported NEOs in the indicated fiscal year.
  c Represents the average aggregate grant date fair value of the stock awards granted to the reported NEOs during the indicated fiscal year, computed in accordance with FASB ASC 718.
  d  Represents the average aggregate fair value as of the indicated fiscal year-end of the reported NEOs’ outstanding and unvested stock awards granted during such fiscal year, computed in accordance with FASB ASC 718.
  e  Represents the average aggregate change in fair value during the indicated fiscal year of the outstanding and unvested stock awards held by the reported NEOs as of the last day of the indicated fiscal year, computed in accordance with FASB ASC 718 and, for awards subject to performance-based vesting conditions, based on the probable outcome of such performance-based vesting conditions as of the last day of the fiscal year.
  f  Represents the average aggregate fair value at vesting of the stock awards that were granted to the reported NEOs and vested during the indicated fiscal year, computed in accordance with FASB ASC 718.
  g  Represents the average aggregate change in fair value, measured from the prior fiscal year-end to the vesting date, of each stock award held by the reported NEOs that was granted in a prior fiscal year and which vested during the indicated fiscal year, computed in accordance with FASB ASC 718.
  h  Represents the average aggregate fair value as of the last day of the prior fiscal year of the reported NEOs’ stock awards that were granted in a prior fiscal year and which failed to meet the applicable vesting conditions in the indicated fiscal year, computed in accordance with FASB ASC 718.
       
Compensation Actually Paid vs. Net Income

       
Compensation Actually Paid vs. Company Selected Measure

 

       
Total Shareholder Return Vs Peer Group        
Tabular List, Table

 

The following is a list of financial performance measures, which in the Company’s assessment represent the most important financial performance measures used by the Company to link compensation actually paid to the Named Executive Officers for 2024:

 
•   Adjusted Earnings Per Share
•   Free Cash Flow
•   Earnings Before Interest and Taxes
•   Cash Flow Return on Investment
•   Operating Margin
•   Total Shareholder Return
       
Total Shareholder Return Amount $ 117.4 172.04 126.14 171.03 128.96
Peer Group Total Shareholder Return Amount 224.22 206.61 165.18 209.13 125.94
Net Income (Loss) $ 130,100,000 $ 420,400,000 $ 677,000,000 $ 593,300,000 $ 372,700,000
Company Selected Measure Amount 4.57 8.8 10.03 8.28 5.07
PEO Name David M. Foulkes        
Measure:: 1          
Pay vs Performance Disclosure          
Name Free Cash Flow        
Non-GAAP Measure Description 7 For 2024, the Compensation Committee determined that Adjusted Earnings Per Share (EPS) continues to be viewed as a core driver of the Company’s performance and stockholder value creation. Adjusted EPS is a non-GAAP financial measure. Please see the Appendix for a reconciliation of non-GAAP financial measures.        
Measure:: 2          
Pay vs Performance Disclosure          
Name Earnings Before Interest and Taxes        
Measure:: 3          
Pay vs Performance Disclosure          
Name Cash Flow Return on Investment        
Measure:: 4          
Pay vs Performance Disclosure          
Name Operating Margin        
Measure:: 5          
Pay vs Performance Disclosure          
Name Total Shareholder Return        
PEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ (9,537,788) $ (8,179,896) $ (6,844,580) $ (5,761,310) $ (5,000,158)
PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 6,804,204 9,232,675 5,197,362 6,525,283 5,773,382
PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (7,230,638) (131,506) (2,643,131) 6,377,756 2,872,573
PEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount
PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (747,496) 2,184,357 (2,325,427) 3,624,571 304,966
PEO | Fair Value as of Prior Fiscal Year- End Fair Value For any Stock Awards Forfeited During Fiscal Year [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 1,425,021 (999,598) (1,037,591) (874,761) (834,298)
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (1,032,322) 1,128,251 787,884 990,758 875,309
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (874,760) (8,970) (393,091) 924,216 426,491
Non-PEO NEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (87,691) 288,649 (358,142) 548,558 157,946
Non-PEO NEO | Fair Value as of Prior Fiscal Year- End Fair Value For any Stock Awards Forfeited During Fiscal Year [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ (93,380)