Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

Stock-Based Compensation [Abstract]

Share-Based Payment Arrangement, Cost by Plan

Stock-based compensation expense for the years ended December 31, 2023, 2022 and 2021 is as follows:

	Year Ended December 31,
(in thousands)	2023		2022		2021
Stock options	$	900	$	1,327	$	2,001
Restricted share units(1)	161,216		158,031		145,553
Total stock-based compensation expense	162,116		159,358		147,554
Tax benefit recognized in the statements of earnings	5,168		3,391		4,304
Stock-based compensation expense, net of tax	$	156,948	$	155,967	$	143,250

(1) Includes expense of $137.5 million, $143.2 million and $127.1 million for the years ended December 31, 2023, 2022 and 2021, respectively in stock compensation expense related to 8,096,595 common shares issued to the former owners of Acima, as part of the Aggregate Stock Consideration subject to restricted stock agreements, and recorded to Other charges in our Consolidated Statements of Operations. Shares issued as part of the Aggregate Stock Consideration for the acquisition of Acima Holdings were not issued under the authorization of the 2021 Plan or any prior approved long-term incentive plan described above. See Note B and Note N for additional information.

Share-Based Payment Arrangement, Option and Stock Appreciation Rights, Activity

Information with respect to stock option activity related to the Plans for the year ended December 31, 2023 follows:

	Equity Awards Outstanding	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life	Aggregate Intrinsic Value (in thousands)
Balance outstanding at January 1, 2023	854,339	$	22.29
Granted	—	—
Exercised	(137,473)	17.36
Forfeited	(7,831)	26.96
Expired	(53,392)	33.49
Balance outstanding at December 31, 2023	655,643	$	22.36	5.15	$	8,223
Exercisable at December 31, 2023	552,733	$	20.75	4.89	$	7,617

Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions

The weighted average fair values of the options granted under the Plans were calculated using the Black-Scholes method. There were no options granted in 2023 or 2022. The weighted average grant date fair value and weighted average assumptions used in the option pricing models for 2021 are as follows: 

	Year Ended December 31,
	2021
Weighted average grant date fair value	$	14.94
Weighted average risk free interest rate	0.49		%
Weighted average expected dividend yield	2.87		%
Weighted average expected volatility	50.29		%
Weighted average expected life (in years)	4.62

Schedule of Nonvested Restricted Stock Units Activity

Information with respect to non-vested restricted stock unit activity follows:

	Restricted Awards Outstanding	Weighted Average Grant Date Fair Value
Balance outstanding at January 1, 2023(1)	5,177,485	$	46.63
Granted	968,045	30.05
Vested(2)	(3,742,784)	48.71
Forfeited	(193,994)	32.47
Balance outstanding at December 31, 2023(1)	2,208,752	$	37.10

(1) Includes 3,691,328 and 363,791 outstanding shares at January 1, 2023 and December 31, 2023, respectively, related to RSA agreements issued as part of the Aggregate Stock Consideration for the acquisition of Acima Holdings, described further in Note B, which were not issued under the authorization of the 2021 Plan or any previously approved long-term incentive plan described above.

(2) Includes 3,327,537 shares vested during 2023 as part of RSA agreements issued as part of the Aggregate Stock Consideration for the acquisition of Acima Holdings, as described above.