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Share Plans (Tables) | 12 Months Ended
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Dec. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule of Compensation Cost | Total share-based compensation expense for 2024, 2023 and 2022 was as follows:
| December 31
In millions | 2024 | 2023 | 2022
Stock options | $ | 5.3 |  | $ | 4.3 |  | $ | 3.7 |
Restricted stock units | 16.1 |  | 15.0 |  | 14.6 |
Performance share units | 18.3 |  | 9.8 |  | 6.6 |
Total share-based compensation expense | $ | 39.7 |  | $ | 29.1 |  | $ | 24.9 |
Stock Option Activity | The following table summarizes stock option activity under all plans for the year ended December 31, 2024:
Shares and intrinsic value in millions | Number of shares | Weighted- average exercise price | Weighted- average remaining contractual life (years) | Aggregate intrinsic value
Outstanding as of January 1, 2024 | 2.3 |  | $ | 45.07 |  |  |
Granted | 0.2 |  | 72.78 |  |  |
Exercised | (0.8) |  | 40.20 |  |  |
Outstanding as of December 31, 2024 | 1.7 |  | $ | 50.35 |  | 5.6 | $ | 86.8 |
Options exercisable as of December 31, 2024 | 1.2 |  | $ | 46.36 |  | 4.5 | $ | 67.2 |
Options expected to vest as of December 31, 2024 | 0.5 |  | $ | 60.38 |  | 8.3 | $ | 19.2 |
Stock Option Fair Value Assumptions | We estimated the fair value of each stock option award issued in the annual share-based compensation grant using a Black-Scholes option pricing model, modified for dividends and using the following assumptions:
| December 31
| 2024 |  | 2023 |  |  | 2022
Risk-free interest rate | 4.44 | % |  | 4.00 | % |  |  | 1.18 | %
Expected dividend yield | 1.43 | % |  | 2.02 | % |  |  | 1.14 | %
Expected share price volatility | 30.90 | % |  | 30.40 | % |  |  | 29.60 | %
Expected term (years) | 6.5 |  | 6.1 |  |  | 6.4
Restricted Stock Activity | The following table summarizes restricted stock unit activity under all plans for the year ended December 31, 2024:
Shares in millions | Number of shares | Weighted average grant date fair value
Outstanding as of January 1, 2024 | 0.6 |  | $ | 53.88 |
Granted | 0.3 |  | 75.88 |
Vested | (0.3) |  | 54.93 |
Forfeited | (0.1) |  | 62.86 |
Outstanding as of December 31, 2024 | 0.5 |  | $ | 62.93 |
Performance Shares Award Outstanding Activity | The following table summarizes performance share unit activity under all plans for the year ended December 31, 2024:
Shares in millions | Number of shares | Weighted average grant date fair value
Outstanding as of January 1, 2024 | 0.4 |  | $ | 54.06 |
Granted | 0.2 |  | 71.97 |
Vested | (0.2) |  | 52.41 |
Outstanding as of December 31, 2024 | 0.4 |  | $ | 59.68 |

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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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