Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Information on Stock Options Issued

The following table presents activity related to our stock options for the year ended December 31, 2024:

	Number of Stock Options	Weighted-Average Exercise Price	Weighted-Average Remaining Contractual Term  (in years)	Aggregate Intrinsic Value (in millions)
Outstanding as of January 1, 2024	3,710,184	$29.19
Granted	1,288,720	$23.45
Exercised	(143,534)	$10.72
Expired	(160,915)	$27.07
Forfeited	(82,593)	$37.69
Outstanding as of December 31, 2024	4,611,862	$28.07	6.5	$2.1
Exercisable as of December 31, 2024	2,620,314	$27.71	4.9	$1.9
Expected to vest as of December 31, 2024	1,991,548	$28.54	8.6	$0.3

The following table presents information related to the fair value and intrinsic value of our stock options:

	For the year ended December 31,
	2024	2023	2022
Weighted-average grant-date fair value of options	$15.28	$18.60	$30.09
Aggregate intrinsic value of stock options exercised (in millions)	$1.2	$4.1	$8.6
Fair value of stock options vested (in millions)	$11.6	$15.9	$21.3

Schedule of Weighted-Average Assumptions used in Black-Scholes Option Pricing Model

The following table provides the weighted-average assumptions used in the Black-Scholes option-pricing model:

	For the year ended December 31,
	2024		2023		2022
Risk-free interest rate	4.07	%	3.88	%	1.40	%
Expected volatility	75.96	%	74.85	%	71.00	%
Dividend yield (1)	—		—		—
Weighted-average expected life (in years)	5.2		5.1		5.2

(1)The expected dividend yield is zero, as the Company has not historically paid dividends.

Schedule of Information on Restricted Stock Awards

The following table presents activity related to our restricted stock for the year ended December 31, 2024:

	With Performance Conditions		Without Performance Conditions
	Number of  Shares	Weighted- Average Grant Date Fair Value	Number of  Shares	Weighted- Average Grant Date Fair Value
Nonvested as of January 1, 2024	1,811,171	$46.98	1,194,368	$38.03
Granted	1,547,172	$17.15	2,152,842	$22.44
Vested	(336,544)	$51.76	(515,191)	$40.49
Forfeited	(26,064)	$28.04	(322,396)	$29.35
Nonvested as of December 31, 2024	2,995,735	$31.21	2,509,623	$26.11