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Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2022
Share-Based Payment Arrangement [Abstract] |
Schedule of Compensation Expense | Stock-based compensation cost by award type follows:
(in millions) |  | 2022 |  | 2021 |  | 2020
Stock option awards |  | $ | 14.8 |  |  | $ | 9.5 |  |  | $ | 10.4 |
Restricted stock awards |  | 8.1 |  |  | 7.3 |  |  | 8.6 |
Performance share awards |  | 9.4 |  |  | 7.7 |  |  | 7.4 |
Restricted stock units |  | — |  |  | — |  |  | 1.4 |
Stock appreciation rights |  | — |  |  | 9.0 |  |  | 2.4 |
Total stock-based compensation cost incurred |  | 32.3 |  |  | 33.5 |  |  | 30.2 |
Capitalized cost during the period |  | (3.2) |  |  | (9.3) |  |  | (3.5) |
Amortization of capitalized cost during the period |  | 2.1 |  |  | 14.3 |  |  | 1.2 |
Total stock-based compensation expense |  | $ | 31.2 |  |  | $ | 38.5 |  |  | $ | 27.9 |
Income tax benefit |  | $ | 14.6 |  |  | $ | 25.2 |  |  | $ | 8.8 |
Schedule of Weighted-Average Assumptions for Equity Awards | The weighted average assumptions used in the determination of fair value for stock options follows:
(in millions, except per share amounts and percentages) |  | 2022 Broad-based Grant |  | 2022 |  | 2021 |  | 2020 |  |
Expected dividend yield |  | 1.0 | % |  | 0.9 | % |  | 1.4 | % |  | 1.3 | % |  |
Expected term (in years) |  | 3.8 |  | 4.7 |  | 4.9 |  | 4.8 |  |
Expected volatility |  | 31.9 | % |  | 29.1 | % |  | 28.7 | % |  | 21.9 | % |  |
Risk-free interest rate |  | 3.9 | % |  | 1.8 | % |  | 0.4 | % |  | 1.4 | % |  |
Weighted-average grant date fair value (per share) |  | $ | 80.23 |  |  | $ | 55.96 |  |  | $ | 32.51 |  |  | $ | 29.29 |  |  |
Fair value of options granted |  | $ | 40.4 |  |  | $ | 12.8 |  |  | $ | 11.8 |  |  | $ | 11.6 |  |  |
Schedule of Stock Option Activity Under the Company's Stock Option Awards | A summary of stock options outstanding and activity follows:
|  | Number of Units (in thousands) |  | Weighted-Average Exercise Price (per share) |  | Weighted-Average Contractual Term (in years) |  | Aggregate Intrinsic Value (in millions)
Outstanding as of December 31, 2021 |  | 1,270 |  |  | $ | 129.32 |  |  |  |  |
Options granted |  | 732 |  |  | 268.68 |  |  |  |  |
Options exercised |  | (349) |  |  | 115.87 |  |  |  |  |
Options forfeited / expired |  | (67) |  |  | 210.76 |  |  |  |  |
Outstanding as of December 31, 2022 |  | 1,586 |  |  | 193.17 |  |  | 7.7 |  | $ | 93.4 |
Vested and exercisable as of December 31, 2022 |  | 623 |  |  | 126.47 |  |  | 5.7 |  | $ | 68.0 |
Additional information related to stock option activity during the years ended December 31 follows:
(in millions) |  | 2022 |  | 2021 |  | 2020
Intrinsic value of options exercised |  | $ | 57.9 |  |  | $ | 72.8 |  |  | $ | 11.9 |
Schedule of Activity Related to Performance Shares | 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, 2021 |  | 138 |  |  | $ | 196.15 |  |  |  |  |
Awards granted |  | 38 |  |  | 313.77 |  |  |  |  |
Awards vested |  | (89) |  |  | 154.23 |  |  |  |  |
Awards converted |  | 44 |  |  | 154.23 |  |  |  |  |
Awards forfeited |  | (3) |  |  | 246.70 |  |  |  |  |
Outstanding as of December 31, 2022 |  | 128 |  |  | 244.25 |  |  | 1.0 |  | $ | 30.1 |
Additional information related to performance share activity during the years ended December 31 follows:
(in millions) |  | 2022 |  | 2021 |  | 2020
Weighted-average grant date fair value (per share) |  | $ | 313.77 |  |  | $ | 213.13 |  |  | $ | 222.50 |
Intrinsic value of performance share awards exercised |  | 22.0 |  |  | 13.3 |  |  | 12.9 |
Schedule of Activity Related to Restricted Stock | A summary of restricted stock 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, 2021 |  | 155 |  |  | $ | 141.32 |  |  |  |  |
Shares granted |  | 42 |  |  | 227.44 |  |  |  |  |
Shares vested |  | (62) |  |  | 128.96 |  |  |  |  |
Shares forfeited |  | (10) |  |  | 169.47 |  |  |  |  |
Outstanding as of December 31, 2022 |  | 125 |  |  | 174.34 |  |  | 1.0 |  | $ | 29.4 |
Additional information related to restricted stock award activity during the years ended December 31 follows:
(in millions) |  | 2022 |  | 2021 |  | 2020
Weighted-average grant date fair value (per share) |  | $ | 227.44 |  |  | $ | 154.23 |  |  | $ | 147.78 |
Intrinsic value of restricted stock exercised |  | 15.7 |  |  | 11.8 |  |  | 9.6 |
Additional information related to restricted stock unit activity during the year ended December 31, 2020 follows:
(in thousands, except per share amounts) |  |  |  |  |  | 2020
Restricted stock units granted |  |  |  |  |  | 8 |
Weighted-average grant date fair value (per share)(1) |  |  |  |  |  | $ | 161.41 |
(1)Restricted stock units' fair value is based on the closing market price of the stock on the respective dates of the grants.

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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + 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 (d) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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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 -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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