XML 36 R24.htm IDEA: XBRL DOCUMENT
v3.25.2

Share-based Payments | 6 Months Ended
--- | ---
Jun. 30, 2025
Share-Based Payment Arrangement [Abstract] |
Share-based Payments | Note 17. Share-based Payments The following table presents the components of share-based payment expense by consolidated income statement classification:
|  | Three months ended June 30, |  | Six months ended June 30,
|  | 2025 |  | 2024 |  | 2025 |  | 2024
Selling, general and administrative: |  |  |  |  |  |  |  |
Stock option compensation expense |  | $ | 0.1 |  |  | $ | 0.8 |  |  | $ | 0.5 |  |  | $ | 2.3 |
Equity-classified share units |  | 23.5 |  |  | 17.3 |  |  | 35.1 |  |  | 25.6 |
Liability-classified share units |  | 0.5 |  |  | 0.2 |  |  | 1.3 |  |  | 1.5 |
Employee share purchase plan |  | 1.7 |  |  | 1.7 |  |  | 4.3 |  |  | 4.6 |
|  | 25.8 |  |  | 20.0 |  |  | 41.2 |  |  | 34.0 |
Acquisition-related and integration costs: |  |  |  |  |  |  |  |
Acceleration of share-based payments expense |  | — |  |  | — |  |  | — |  |  | 0.9 |
Share-based continuing employment costs |  | 0.2 |  |  | — |  |  | 0.4 |  |  | 0.2 |
|  | 0.2 |  |  | — |  |  | 0.4 |  |  | 1.1 |
|  | $ | 26.0 |  |  | $ | 20.0 |  |  | $ | 41.6 |  |  | $ | 35.1 |
Share units The following table presents share unit activity for the six months ended June 30, 2025:
| Equity-classified |  | Liability-classified
| Performance Share Units (Performance Conditions) |  | Performance Share Units (Market Conditions) |  | Restricted Share Units |  | Deferred Share Units
| Number |  | WA grant date fair value |  | Number |  | WA grant date fair value |  | Number |  | WA grant date fair value |  | Number |  | WA grant date fair value
Outstanding, December 31, 2024 | 450,175 |  | $ | 64.73 |  |  | 268,954 |  | $ | 105.53 |  |  | 607,805 |  | $ | 66.00 |  |  | 73,490 |  | $ | 40.29 |
Granted | 149,751 |  |  | 95.53 |  |  | 149,521 |  | 139.83 |  |  | 461,047 |  |  | 97.52 |  |  | 415 |  |  | 101.31 |
Vested and settled | (132,018) |  |  | 58.74 |  |  | — |  | — |  |  | (282,660) |  |  | 63.34 |  |  | (2,245) |  |  | 67.40 |
Forfeited | (2,990) |  |  | 67.48 |  |  | (1,705) |  | 120.49 |  |  | (12,771) |  |  | 70.91 |  |  | — |  |  | — |
Outstanding at June 30, 2025 | 464,918 |  | $ | 76.33 |  |  | 416,770 |  | $ | 117.77 |  |  | 773,421 |  | $ | 85.68 |  |  | 71,660 |  | $ | 39.79 |
Performance Share Units ("PSUs") During the six months ended June 30, 2025, the Company granted PSUs to executives and senior employees, approximately half of which have performance vesting conditions and approximately half of which have market vesting conditions, conditional upon the Company's total shareholder return relative to a peer group. The PSUs have three-year performance and market vesting periods. The fair values of PSUs with performance vesting conditions were estimated using the closing price of the Company's common shares listed on the NYSE on the respective grant dates and the fair value of PSUs with market vesting conditions was estimated using a Monte Carlo simulation model on the respective grant dates, incorporating the following significant assumptions, presented on a weighted average basis:
|  | Six months ended June 30,
|  | 2025 | 2024
Risk free interest rate |  | 4.0 | % | 4.5 | %
Expected lives of the PSUs |  | 3 years | 3 years
Expected volatility |  | 30.5 | % | 32.3 | %
Average expected volatility of comparable companies |  | 34.7 | % | 48.3 | %
Restricted Share Units ("RSUs") During the six months ended June 30, 2025, the Company granted RSUs to employees which have service vesting conditions. The RSUs vest over a three-year graded vesting period or cliff vest after 3 years, depending on the terms of the grant. The fair values of RSUs were estimated using the closing price of the Company's common shares listed on the NYSE on the respective grant dates.

X
- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/718/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2)(i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (l) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration