XML 50 R39.htm IDEA: XBRL DOCUMENT
v3.21.2

Share-Based Compensation (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2021
Share-based Payment Arrangement, Noncash Expense [Abstract] |
Summary of Restricted Stock and Performance Unit Award Activity | The following table presents restricted stock and performance unit award activity for the nine months ended September 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) |  |  | (164,483 | ) |  |  | 108.73 |  |  |  | (74,894 | ) |  |  | 134.53 |
Forfeitures |  |  | (6,692 | ) |  |  | 110.47 |  |  |  | (19,667 | ) |  |  | 132.58 |
Outstanding at September 30, 2021 |  |  | 671,897 |  |  | $ | 109.13 |  |  |  | 358,092 |  |  | $ | 105.38 |
(a) Upon vesting of the performance unit awards, PCA issued 81,577 shares, which includes 6,683 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 September 30, |  |  | Nine Months Ended September 30, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Restricted stock |  | $ | 3.9 |  |  | $ | 3.2 |  |  | $ | 18.4 |  |  | $ | 16.8 |
Performance units |  |  | 2.9 |  |  |  | 2.8 |  |  |  | 8.5 |  |  |  | 7.0 |
Total share-based compensation expense |  |  | 6.8 |  |  |  | 6.0 |  |  |  | 26.9 |  |  |  | 23.8 |
Income tax benefit |  |  | (1.7 | ) |  |  | (1.5 | ) |  |  | (6.8 | ) |  |  | (6.0 | )
Share-based compensation expense, net of tax benefit |  | $ | 5.1 |  |  | $ | 4.5 |  |  | $ | 20.1 |  |  | $ | 17.8 |
Unrecognized Compensation Expense for Share-Based Awards | The unrecognized compensation expense for all share-based awards at September 30, 2021 was as follows (dollars in millions):
|  | September 30, 2021 |
|  | Unrecognized Compensation Expense |  |  | Remaining Weighted Average Recognition Period (in years) |
Restricted stock |  | $ | 30.6 |  |  |  | 2.6 |
Performance units |  |  | 21.6 |  |  |  | 2.3 |
Total unrecognized share-based compensation expense |  | $ | 52.2 |  |  |  | 2.5 |

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. + 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
Name: | us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ScheduleOfNonvestedShareActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ScheduleOfUnrecognizedCompensationCostNonvestedAwardsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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