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Share-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement, Noncash Expense [Abstract]

Schedule of Shares Granted

During the six months ended June 30, 2024 and 2023, shares were granted as follows:

Grant Period						Type						Plan						Shares Granted						Grant Date Fair Value Per Share						Vesting Type
2024						Key Employees						2015 Equity Incentive Plan						205,540						$	132.10		(1)			Time Based
2024						Executive Officers						2015 Equity Incentive Plan						31,800						$	132.13		(1)			Time Based
2024						Executive Officers						2015 Equity Incentive Plan						41,400						$	98.14		(2)			Market Condition			(3)
2024						Directors						2004 Non-Employee Director Option Plan						20,000						$	129.47		(1)			Time Based			(4)
2023						Key Employees						2015 Equity Incentive Plan						220,558						$	137.15		(1)			Time Based
2023						Executive Officers						2015 Equity Incentive Plan						62,800						$	144.88		(1)			Time Based
2023						Executive Officers						2015 Equity Incentive Plan						82,200						$	108.60		(2)			Market Condition			(3)
2023						Directors						2004 Non-Employee Director Option Plan						16,000						$	148.12		(1)			Time Based			(5)

(1)Represents the weighted average fair value per share of the closing price of our common stock on the dates the shares were awarded.

(2)Represents the weighted average fair value per share of the Monte Carlo simulation fair value price of our market condition awards on the dates the shares were awarded.

(3)Share-based compensation for restricted stock awards with market conditions is measured based on shares expected to vest using a Monte Carlo simulation to determine fair value.

(4)Includes 6,000 shares that were deferred under the 2021 Non-Employee Directors Deferred Compensation Plan and are issuable on future dates.

(5)Includes 2,000 shares that were deferred under the 2021 Non-Employee Directors Deferred Compensation Plan and are issuable on future dates.

Schedule of Share-based Compensation Costs

We recognized the following share-based compensation costs (in millions):

						Three Months Ended												Six Months Ended
						June 30, 2024						June 30, 2023						June 30, 2024						June 30, 2023
Share-based compensation - expensed(1)						$	10.1					$	9.9					$	20.2					$	19.5

(1) Recorded within General and administrative expense on the Consolidated Income Statements.

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- Definition

Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

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Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year.

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