STOCK-BASED COMPENSATION PLANS (Tables)

12 Months Ended

Dec. 31, 2022

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,
	2022			2021			2020
Expected volatility	37.31		%	30.47		%	27.00		%
Expected option life in years	6.25			6.25			6.25
Expected dividend yield	0.08		%	0.08		%	0.08		%
Risk-free interest rate	2.31		%	0.86		%	1.17		%
Weighted-average fair value of stock options	$	5.04		$	6.53		$	3.82

Summary of Stock Option Activity

A summary of the 2022 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, 2022	8,362,716	$	14.56
Granted	4,986,946	12.61
Exercised	(264,552)	11.82
Forfeited and canceled	(2,472,300)	15.92
Outstanding at December 31, 2022	10,612,810	$	13.40	7.30	$	16.0
Exercisable at December 31, 2022	3,009,216	$	13.62	6.05	$	4.6

(1)The aggregate intrinsic value in the table above represents the difference between the Company’s stock price on the last trading day of 2022 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 2022 RSU activity follows:

	Restricted stock units	Weighted-average fair value per unit
Outstanding at January 1, 2022	3,657,389	$	14.54
Granted	1,196,271	15.39
Vested	(891,168)	12.16
Forfeited and canceled	(923,709)	15.01
Outstanding at December 31, 2022	3,038,783	$	15.43