Stock-Based Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Summary of the Assumption Used in Determining the Fair Value of Stock Options

A summary of the weighted average assumptions used in determining the fair value of stock options follows:

	Year Ended December 31,
	2021			2020
Expected volatility	30.47		%	27.00		%
Expected option life in years	6.25			6.25
Expected dividend yield	0.08		%	0.08		%
Risk-free interest rate	0.86		%	1.17		%
Weighted-average fair value of stock options	$	6.53		$	3.82

Summary of Stock Option Activity

A summary of the 2021 stock option activity follows:

	Options	Weighted-average exercise price per option		Weighted-average remaining contractual life in years	Aggregate intrinsic value (1)
Outstanding at January 1, 2021	7,113,029	$	11.91
Granted	2,460,515	20.89
Exercised	(387,000)	11.56
Forfeited and canceled	(823,828)	11.99
Outstanding at December 31, 2021	8,362,716	$	14.56	8.38	$	87.1
Exercisable at December 31, 2021	1,370,239	$	12.07	7.73	$	17.7

(1)The aggregate intrinsic value in the table above represents the difference between the Company's stock price on the last trading day of 2021 and the exercise price of each in-the-money option on the last day of the period presented.

Summary of RSU Activity

A summary of the 2021 RSU activity follows:

	Restricted stock units	Weighted-average fair value per unit
Outstanding at January 1, 2021	4,043,346	$	12.17
Granted	775,409	22.70
Vested	(943,158)	12.01
Forfeited and canceled	(218,208)	10.37
Outstanding at December 31, 2021	3,657,389	14.54