STOCK-BASED COMPENSATION PLANS (Tables)

12 Months Ended

Dec. 31, 2023

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,
	2023			2022			2021
Expected volatility	37.09		%	37.31		%	30.47		%
Expected option life in years	6.25			6.25			6.25
Expected dividend yield	0.06		%	0.08		%	0.08		%
Risk-free interest rate	4.23		%	2.31		%	0.86		%
Weighted-average fair value of stock options	$	7.26		$	5.04		$	6.53

Summary of Stock Option Activity

A summary of the 2023 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, 2023	10,612,810	$	13.40
Granted	3,544,623	16.55
Exercised	(2,092,068)	13.26
Forfeited and canceled	(910,008)	14.92
Outstanding at December 31, 2023	11,155,357	$	14.30	7.48	$	376.3
Exercisable at December 31, 2023	3,392,786	$	13.46	6.56	$	117.3

(1)The aggregate intrinsic value in the table above represents the difference between the Company’s stock price on the last trading day of 2023 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 2023 RSU activity follows:

	Restricted stock units	Weighted-average fair value per unit
Outstanding at January 1, 2023	3,038,783	$	15.43
Granted	750,195	18.11
Vested	(621,009)	11.86
Forfeited and canceled	(441,074)	15.89
Outstanding at December 31, 2023	2,726,895	$	16.90