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Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of compensation expense Stock-based compensation cost by award type follows:
(in millions)
 
2018
 
2017
 
2016
Stock option awards
 
$
11.0

 
$
7.7

 
$
6.1

Restricted stock awards
 
7.7

 
6.0

 
4.5

Performance share awards
 
7.4

 
5.6

 
4.7

Restricted stock units
 
1.4

 
1.4

 
1.2

Total stock-based compensation cost
 
$
27.5

 
$
20.7

 
$
16.5
Schedule of weighted-average assumptions for stock options The weighted average assumptions used in the determination of fair value for stock option awards follows:
(in millions, except per share amounts)
 
2018
One-time Grant
 
2018
 
2017
 
2016
Expected dividend yield
 
1.4
%
 
1.4
%
 
1.3
%
 
1.4
%
Expected life (in years)
 
3.9

 
5.5

 
5.6

 
5.6

Expected volatility
 
20.7
%
 
23.1
%
 
25.6
%
 
27.5
%
Risk-free interest rate
 
2.6
%
 
2.6
%
 
1.9
%
 
1.4
%
Weighted-average grant date fair value (per share)
 
$
21.91

 
$
23.71

 
$
24.57

 
$
19.30

Fair value of options granted
 
$
13.6

 
$
9.1

 
$
8.8

 
$
7.2
Schedule of stock option activity under the Company's stock option awards A summary of stock options outstanding and activity follows:
 
 
Number of Shares
(in thousands)
 
Weighted-Average Exercise Price
(per share)
 
Weighted-Average Contractual Term
(in years)
 
Aggregate Intrinsic Value
(in millions)
Outstanding as of December 31, 2017
 
1,431

 
$
81.49

 
 
 
 
Options granted
 
1,004

 
107.60

 
 
 
 
Options exercised
 
(345
)
 
65.95

 
 
 
 
Options forfeited / expired
 
(126
)
 
105.86

 
 
 
 
Outstanding as of December 31, 2018
 
1,964

 
95.76

 
7.7
 
$
18.0

Vested and exercisable as of December 31, 2018
 
844

 
82.86

 
6.1
 
$
16.4



Additional information related to stock option award activity during the years ended December 31 follows:
(in millions)
 
2018
 
2017
 
2016
Intrinsic value of options exercised
 
$
18.4

 
$
8.5

 
$
56.4

Fair value of options vested
 
$
10.2

 
$
5.4

 
$
4.7
Schedule of activity related to restricted stock Information related to restricted stock awards during the years ended December 31 follows:
 
 
2018
 
2017
 
2016
Weighted-average grant date fair value (per share)
 
$
114.27

 
$
106.78

 
$
84.73


A summary of restricted stock awards outstanding and activity follows:
 (in thousands, except per share amounts)
 
Number of Shares
 
Weighted-Average Grant Date Fair Value
Outstanding as of December 31, 2017
 
208

 
$
95.63

Shares granted
 
76

 
114.27

Shares vested
 
(103
)
 
95.05

Shares forfeited
 
(12
)
 
109.07

Outstanding as of December 31, 2018
 
169

 
103.47
Schedule of activity related to performance shares Information related to performance shares during the years ended December 31 follows:

 
2018
 
2017
 
2016
Weighted-average grant date fair value (per share)
 
$
140.20

 
$
141.83

 
$
119.08


A summary of performance shares outstanding and activity follows:
 
 
Number of Shares
(in thousands)
 
Weighted-Average Grant Date Fair Value
(per share)
 
Weighted-Average Contractual Term
(in years)
 
Aggregate Intrinsic Value
(in millions)
Outstanding as of December 31, 2017
 
160

 
$
123.50

 
 
 
 
Awards granted
 
54

 
140.20

 
 
 
 
Awards vested
 
(46
)
 
112.82

 
 
 
 
Awards converted (withheld)
 
(9
)
 
108.03

 
 
 
 
Awards forfeited
 
(6
)
 
137.55

 
 
 
 
Outstanding as of December 31, 2018
 
153

 
132.68

 
0.8
 
$
15.4