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Shareholders' Equity (Tables)
12 Months Ended
Dec. 31, 2024
Stockholders' Equity Note [Abstract]  
Schedule of Stock-based Compensation Expense
The Company recognized stock-based compensation expense in its Consolidated Financial Statements in 2024, 2023 and 2022 as follows:
202420232022
Stock-based compensation expense$58,626 $31,308 $39,403 
Less: Deferred tax benefit(11,347)(5,989)(7,340)
Stock-based compensation expense, net of tax$47,279 $25,319 $32,063 
Schedule of Assumptions Used in the Weighted Average Fair Value of the Stock Options Granted
The weighted average fair value of the Company’s stock options granted during 2024, 2023 and 2022 were $23.07, $15.70 and $17.95, respectively, using the following assumptions:
202420232022
Expected term (in years)5.325.325.84
Expected volatility23.64 %24.32 %27.79 %
Expected dividend yield1.11 %1.49 %1.40 %
Risk-free interest rate4.34 %3.95 %3.79 %
Schedule of Stock Option Plans
This table presents certain information relating to the Company’s stock option plans for 2024, 2023 and 2022:
Number of
Shares
Weighted
Average Price
Balance as of December 31, 202119,084,000 $54.35 
Granted2,215,000 61.74 
Exercised(1,537,000)35.03 
Expired or canceled(992,000)59.52 
Balance as of December 31, 202218,770,000 $56.52 
Granted1,871,000 62.01 
Exercised(2,148,000)45.11 
Expired or canceled(1,073,000)59.79 
Balance as of December 31, 202317,420,000 $58.31 
Granted1,376,000 85.77 
Exercised(2,411,000)50.42 
Expired or canceled(994,000)61.93 
Balance as of December 31, 202415,391,000 $61.77 
Exercisable as of December 31, 20248,636,000 $58.94 
Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity
This table presents certain information relating to the Company’s RSUs for 2024, 2023 and 2022:
Number of
RSUs
Weighted
Average Grant-Date Fair Value
Balance as of December 31, 2021— $— 
Granted467,000 61.27 
Vested— — 
Expired or canceled— — 
Balance as of December 31, 2022467,000 $61.27 
Granted373,000 61.76 
Vested(20,000)57.39 
Expired or canceled(24,000)61.85 
Balance as of December 31, 2023796,000 $61.58 
Granted395,000 83.02 
Vested(15,000)55.91 
Expired or canceled(53,000)61.93 
Balance as of December 31, 20241,123,000 $69.18 
Schedule of Common Stock Buyback The following table provides the total number of shares repurchased and the related total costs in 2024, 2023 and 2022:
YearTotal Number of
Shares Repurchased
Total Cost
20246,840,000 $512,477 
20235,237,000 310,769 
20225,914,000 338,442