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Stock-Based Compensation | 3 Months Ended
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Mar. 31, 2025
Share-Based Payment Arrangement [Abstract] |
Stock-Based Compensation | Stock-Based Compensation The Company's stock-based compensation expense for the three months ended March 31, 2025 and 2024 included PRSUs, RSUs and non-qualified stock options. A summary of the Company's stock-based compensation expense is presented in the following table:
| Three Months Ended March 31, |  |
(in millions) | 2025 |  | 2024 |  |  |  |
PRSU expense | $ | 3.5 |  |  | $ | 4.1 |  |  |  |  |
RSU expense | 4.3 |  |  | 4.5 |  |  |  |  |
Option expense | 0.6 |  |  | 0.6 |  |  |  |  |
Total stock-based compensation expense | $ | 8.4 |  |  | $ | 9.2 |  |  |  |  |
The Company grants PRSUs to executive officers and certain members of management. Actual payout under the PRSUs is dependent upon the achievement of certain financial goals. During the first quarter of 2025, the Company granted PRSUs as a component of the long-term incentive plan ("2025 PRSUs"). The Company has recorded stock-based compensation expense related to the 2025 PRSUs during the three months ended March 31, 2025, as it was probable that the Company would achieve the specified performance targets for the performance period.

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