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Share-Based Compensation (Tables)

6 Months Ended

Jun. 30, 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 six months ended June 30, 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			173,970				134.10				95,236				140.47
Vested (a)			(161,741	)			108.80				(53,070	)			135.33
Forfeitures			(5,496	)			109.07				—				—
Outstanding at June 30, 2021			675,835			$	109.12				399,583			$	108.20

(a)Upon vesting of the performance unit awards, PCA issued 58,083 shares, which includes 5,013 shares for dividends accrued during the vesting period.

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 June 30,								Six Months Ended June 30,
		2021				2020				2021				2020
Restricted stock		$	5.9			$	5.6			$	14.5			$	13.6
Performance units			2.5				2.1				5.6				4.2
Total share-based compensation expense			8.4				7.7				20.1				17.8
Income tax benefit			(2.1	)			(1.9	)			(5.1	)			(4.5	)
Share-based compensation expense, net of tax benefit		$	6.3			$	5.8			$	15.0			$	13.3

Unrecognized Compensation Expense for Share-Based Awards

The unrecognized compensation expense for all share-based awards at June 30, 2021 was as follows (dollars in millions):

		June 30, 2021
		Unrecognized Compensation Expense				Remaining Weighted Average Recognition Period (in years)
Restricted stock		$	34.5				2.8
Performance units			24.5				2.5
Total unrecognized share-based compensation expense		$	59.0				2.7

X

- Definition

Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit.

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-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

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Tabular disclosure of the changes in outstanding nonvested shares.

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