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Share-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of Weighted Average Option Fair Values and Assumptions
 Three Months Ended March 31,
 20232022
Weighted average fair value of grants$60.80$41.66
Dividend yield1.06%1.14%
Volatility27.19%25.15%
Risk-free interest rate4.12%
1.83%
Expected life (in years)4.504.90
Schedule of Compensation Cost for Stock Options
Total compensation cost for stock options is recorded in the Condensed Consolidated Statements of Income as follows:

 Three Months Ended March 31,
 20232022
Cost of goods sold$0.3 $0.3 
Selling, general and administrative expenses(1)
5.7 3.1 
Total expense before income taxes6.0 3.4 
Income tax benefit(0.4)(0.3)
Total expense after income taxes$5.6 $3.1 

(1) The three months ended March 31, 2023 includes an additional $2.4 million of accelerated stock compensation costs for retiree eligible participants as compared with the same period in 2022.
Schedule of Stock Option Activity
A summary of the Company’s stock option activity as of March 31, 2023 and changes during the three months ended March 31, 2023 are presented in the following table:
Stock OptionsSharesWeighted
Average
Price		Weighted-Average
Remaining
Contractual Term		Aggregate
Intrinsic
Value
(Dollars in millions except weighted average price)
Outstanding at January 1, 20231,015,572 $161.45 6.94$67.9 
Granted208,305 225.71 
Exercised(33,460)141.19 
Forfeited(8,491)196.25 
Outstanding at March 31, 20231,181,926 $173.10 7.28$68.5 
Vested and expected to vest as of March 31, 20231,130,292 $171.52 7.20$67.3 
Exercisable at March 31, 2023639,677 $146.97 5.88$53.8 
Schedule of Restricted Stock Activity A summary of the Company’s restricted stock activity as of March 31, 2023 and changes during the three months ended March 31, 2023 are presented in the following table:
Restricted StockSharesWeighted-Average
Grant Date Fair
Value
Unvested at January 1, 2023104,382 $179.45 
Granted25,595 225.73 
Vested(16,905)171.67 
Forfeited(3,430)204.03 
Unvested at March 31, 2023109,642 $190.69 
Schedule of Compensation Cost for Restricted Stock
Total compensation cost for restricted stock is recorded in the Condensed Consolidated Statements of Income as follows:

 Three Months Ended March 31,
 20232022
Cost of goods sold$0.2 $0.2 
Selling, general and administrative expenses1.4 1.6 
Total expense before income taxes1.6 1.8 
Income tax benefit(0.3)(0.4)
Total expense after income taxes$1.3 $1.4 
Schedule of Unvested Cash-settled Restricted Stock Activity A summary of the Company’s unvested cash-settled restricted stock activity as of March 31, 2023 and changes during the three months ended March 31, 2023 are presented in the following table:
Cash-Settled Restricted StockSharesWeighted-Average
Fair Value
Unvested at January 1, 202357,356 $228.33 
Granted19,755 225.66 
Vested(14,300)230.78 
Forfeited(1,265)231.03 
Unvested at March 31, 202361,546 $231.03 
Schedule of Compensation Cost for Unvested Cash-settled Restricted Stock
Total compensation cost for cash-settled restricted stock is recorded in the Condensed Consolidated Statements of Income as follows:
 Three Months Ended March 31,
 20232022
Cost of goods sold$0.1 $(0.1)
Selling, general and administrative expenses1.0 0.5 
Total expense before income taxes1.1 0.4 
Income tax benefit— — 
Total expense after income taxes$1.1 $0.4 
Schedule of Weighted Average Performance Share Units Fair Values and Assumptions
Weighted average performance share unit fair values and assumptions for the period specified are disclosed below. The performance share units are market condition awards and have been assessed at fair value on the date of grant using a Monte Carlo simulation model.
 Three Months Ended March 31,
20232022
Weighted average fair value of grants$308.18$235.54
Dividend yield—%—%
Volatility27.00%28.09%
Risk-free interest rate4.37%1.73%
Expected life (in years)2.942.93
Schedule of Performance Shares Units Activity
A summary of the Company’s performance share unit activity as of March 31, 2023 and changes during the three months ended March 31, 2023 are presented in the following table:
Performance Share UnitsSharesWeighted-Average
Grant Date Fair
Value
Unvested at January 1, 202370,915 $236.66 
Granted28,030 308.18 
Vested(18,105)226.86 
Forfeited(1,725)261.13 
Unvested at March 31, 202379,115 $264.89 
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs
Total compensation cost for performance share units is recorded in the Condensed Consolidated Statements of Income as follows:
 Three Months Ended March 31,
20232022
Cost of goods sold$— $— 
Selling, general and administrative expenses(1)
5.2 1.3 
Total expense before income taxes5.2 1.3 
Income tax benefit(0.1)(0.1)
Total expense after income taxes$5.1 $1.2 

(1) The three months ended March 31, 2023 includes an additional $3.4 million of accelerated stock compensation costs for retiree eligible participants as compared with the same period in 2022.