Share-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Stock Option Valuation Assumptions

The weighted-average grant date fair value of these options was $24.78, which was determined using the Black-Scholes-Merton option-pricing model with the assumptions included in the table below. Expected volatility is calculated using the historical volatility of our share price. Risk-free rate is based on the Treasury Constant Maturity Rate closest to the expected life as of the grant date. Expected term is estimated using the vesting period and contractual term of the Options.

Expected volatility	46.8	%
Dividend yield (1)	—	%
Risk-free rate	4.2	%
Expected term (in years)	6.0

(1)At the date of grant we had no plans to pay dividends during the expected term of these options.