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Equity-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2021
Share-based Payment Arrangement [Abstract]  
Summary of Activity Related to RSUs

The following table summarizes activity related to RSUs for the years ended December 31, 2021, 2020 and 2019.

 

 

Restricted Stock Units

 

 

2021

 

2020

 

2019

 

 

 

 

Weighted

 

 

 

Weighted

 

 

 

Weighted

 

 

 

 

Average

 

 

 

Average

 

 

 

Average

 

 

Number of

 

Grant Date

 

Number of

 

Grant Date

 

Number of

 

Grant Date

 

 

Shares

 

Fair Value

 

Shares

 

Fair Value

 

Shares

 

Fair Value

 

Unvested Balance at January 1,

 

8,742,695

 

$

 

41.45

 

 

8,414,130

 

$

 

42.19

 

 

8,761,224

 

$

 

37.59

 

Granted

 

3,875,588

 

 

 

54.84

 

 

4,456,157

 

 

 

37.58

 

 

4,384,073

 

 

 

44.59

 

Forfeited

 

(432,846

)

 

 

47.31

 

 

(149,592

)

 

 

40.73

 

 

(273,698

)

 

 

45.22

 

Vested

 

(4,117,317

)

 

 

42.56

 

 

(3,978,000

)

 

 

39.01

 

 

(4,457,469

)

 

 

34.63

 

Unvested Balance at December 31,

 

8,068,120

 

$

 

46.36

 

 

8,742,695

 

$

 

41.45

 

 

8,414,130

 

$

 

42.19

 

Schedule of Assumptions Used to Estimate the Fair Value of Stock Option Using the Black-Scholes Valuation model The Company estimated the fair value of stock option awards at grant using the Black‑Scholes valuation model with the following assumptions:

 

 

 

Assumptions

 

Expected life (in years)

 

 

 

6

 

Weighted-average risk free interest rate

 

 

 

1.91

%

Expected volatility

 

 

 

35

%

Dividend yield

 

 

 

2.72

%

Weighted-average fair value at grant date

 

$

 

6.70

 

Summary of Activity Related to Stock Options

The following table summarizes activity related to stock options for the years ended December 31, 2020 and 2019.

 

 

 

Stock Options Outstanding

 

 

 

2020

 

 

2019

 

 

 

 

 

 

Weighted

 

 

 

 

 

Weighted

 

 

 

 

 

 

Average

 

 

 

 

 

Average

 

 

 

Number

 

 

Exercise Price

 

 

Number

 

 

Exercise Price

 

 

 

Outstanding

 

 

Per Share

 

 

Outstanding

 

 

Per Share

 

Outstanding at January 1,

 

 

728,534

 

 

$

 

15.95

 

 

 

2,017,067

 

 

$

 

15.95

 

Exercises

 

 

(728,534

)

 

 

 

15.95

 

 

 

(1,285,533

)

 

 

 

15.95

 

Forfeitures or expirations

 

 

 

 

 

 

 

 

 

(3,000

)

 

 

 

15.95

 

Outstanding at December 31,

 

 

 

 

$

 

 

 

 

728,534

 

 

$

 

15.95