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Share-Based Compensation (Tables) | 3 Months Ended
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Mar. 31, 2021
Share Based Compensation [Abstract] |
Summary of Restricted Stock and Performance Unit Award Activity | The following table presents restricted stock and performance unit award activity for the three months ended March 31, 2021:
|  | Restricted Stock |  |  | Performance Units |
|  | Shares |  |  | Weighted Average Grant- Date Fair Value |  |  | Shares |  |  | Weighted Average Grant- Date Fair Value |
Outstanding at January 1, 2021 |  |  | 669,102 |  |  | $ | 102.55 |  |  |  | 357,417 |  |  | $ | 103.63 |
Granted |  |  | 168,700 |  |  |  | 133.54 |  |  |  | 95,236 |  |  |  | 140.47 |
Vested |  |  | (3,508 | ) |  |  | 102.72 |  |  |  | — |  |  |  | — |
Forfeitures |  |  | (3,284 | ) |  |  | 101.05 |  |  |  | — |  |  |  | — |
Outstanding at March 31, 2021 |  |  | 831,010 |  |  | $ | 108.85 |  |  |  | 452,653 |  |  | $ | 111.38 |
Compensation Expense for Share-Based Awards | Our share-based compensation expense is recorded in "Selling, general, and administrative expenses." Compensation expense for share-based awards recognized in the Consolidated Statements of Income, net of forfeitures, was as follows (dollars in millions):
|  | Three Months Ended March 31, |
|  | 2021 |  |  | 2020 |
Restricted stock |  | $ | 8.6 |  |  | $ | 8.0 |
Performance units |  |  | 3.0 |  |  |  | 2.1 |
Total share-based compensation expense |  |  | 11.6 |  |  |  | 10.1 |
Income tax benefit |  |  | (2.9 | ) |  |  | (2.5 | )
Share-based compensation expense, net of tax benefit |  | $ | 8.7 |  |  | $ | 7.6 |
Unrecognized Compensation Expense for Share-Based Awards | The unrecognized compensation expense for all share-based awards at March 31, 2021 was as follows (dollars in millions):
|  | March 31, 2021 |
|  | Unrecognized Compensation Expense |  |  | Remaining Weighted Average Recognition Period (in years) |
Restricted stock |  | $ | 39.4 |  |  |  | 2.9 |
Performance units |  |  | 28.0 |  |  |  | 2.7 |
Total unrecognized share-based compensation expense |  | $ | 67.4 |  |  |  | 2.8 |

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- Definition Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the changes in outstanding nonvested shares. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of cost not yet recognized and weighted-average period over which cost is expected to be recognized for nonvested award under share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (i) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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