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Share-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2025

Share-Based Payment Arrangement [Abstract]

Schedule of Weighted Average Option Fair Values and Assumptions

The assumptions used in determining the fair value of the stock options granted in the respective periods were as follows:

			Three Months Ended June 30,												Six Months Ended June 30,
			2025						2024						2025						2024
Weighted average fair value of grants			n/a						$62.41						$46.74						$63.72
Dividend yield			n/a						1.13%						1.41%						1.09%
Volatility			n/a						26.43%						23.06%						26.67%
Risk-free interest rate			n/a						4.42%						4.28%						4.31%
Expected life (in years)			n/a						4.60						4.70						4.60

Schedule of Stock Option Activity

A summary of the Company’s stock option activity as of June 30, 2025 and changes during the six months ended June 30, 2025 are presented in the following table:

Stock Options			Shares						Weighted Average Exercise Price						Weighted-Average Remaining Contractual Term (years)						Aggregate Intrinsic Value
Outstanding at January 1, 2025			998,856						$	191.96					6.63						$	24.9
Granted			82,470						196.07
Exercised			(18,376)						139.06
Forfeited			(55,675)						213.62
Outstanding at June 30, 2025			1,007,275						$	192.07					6.35						$	8.9
Vested and expected to vest as of June 30, 2025			992,870						$	191.56					6.32						$	8.9
Exercisable at June 30, 2025			696,076						$	180.96					5.44						$	8.9

Schedule of Restricted Stock Activity

A summary of the Company’s restricted stock activity as of June 30, 2025 and changes during the six months ended June 30, 2025 are presented in the following table:

Restricted Stock			Shares						Weighted-Average Grant Date Fair Value
Unvested at January 1, 2025			175,991						$	201.27
Granted			84,570						194.02
Vested			(27,327)						197.18
Forfeited			(18,177)						206.11
Unvested at June 30, 2025			215,057						$	198.53

Schedule of Unvested Cash-settled Restricted Stock Activity

A summary of the Company’s unvested cash-settled restricted stock activity as of June 30, 2025 and changes during the six months ended June 30, 2025 are presented in the following table:

Cash-Settled Restricted Stock			Shares						Weighted-Average Fair Value
Unvested at January 1, 2025			55,395						$	209.29
Granted			30,490						195.99
Vested			(15,020)						192.90
Forfeited			(3,832)						175.57
Unvested at June 30, 2025			67,033						$	175.57

Schedule of Weighted Average Performance Share Units Fair Values and Assumptions

The assumptions used in the Monte Carlo simulation model to determine the fair value of the market condition portion of the performance share units granted in the respective periods were as follows:

			Six Months Ended June 30,
			2025						2024
Weighted average fair value of grants			$232.44						$349.59
Dividend yield			—%						—%
Volatility			22.93%						22.23%
Risk-free interest rate			4.23%						4.45%
Expected life (in years)			2.94						2.94

Schedule of Performance Shares Units Activity

A summary of the Company’s performance share unit activity as of June 30, 2025 and changes during the six months ended June 30, 2025 are presented in the following table:

Performance Share Units			Shares						Weighted-Average Grant Date Fair Value
Unvested at January 1, 2025			72,825						$	299.87
Granted			43,360						216.98
Vested			(15,530)						234.23
Forfeited			(15,320)						256.31
Unvested at June 30, 2025			85,335						$	275.57

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs

Total compensation cost related to all share-based awards was as follows:

			Three Months Ended June 30,												Six Months Ended June 30,
			2025						2024						2025						2024
Stock options expense			$	1.1					$	1.5					$	4.3					$	6.9
Restricted stock expense			3.3						2.1						8.8						4.1
Cash-settled restricted stock expense			0.6						(0.3)						1.2						1.6
Performance share units expense			0.8						0.8						5.7						5.9
Total pre-tax share-based compensation expense(1)			5.8						4.1						20.0						18.5
Income tax benefit			(1.2)						(0.7)						(2.4)						(1.6)
Total share-based compensation expense, net of income taxes			$	4.6					$	3.4					$	17.6					$	16.9

(1) Pre-tax compensation cost is recognized in the Condensed Consolidated Statements of Income depending on the functional area of the underlying employees, as follows:

			Three Months Ended June 30,												Six Months Ended June 30,
			2025						2024						2025						2024
Cost of sales			$	0.3					$	0.2					$	1.1					$	1.0
Selling, general and administrative expenses			5.5						3.9						19.5						17.5
Restructuring expenses and asset impairments(2)			—						—						(0.6)						—
Total pre-tax share-based compensation expense			$	5.8					$	4.1					$	20.0					$	18.5

(2) During the six months ended June 30, 2025, a benefit of $0.6 million was recognized in Restructuring expenses and asset impairments in the Condensed Consolidated Statements of Income related to forfeitures of share-based compensation awards resulting from previously announced restructuring actions initiated during the first quarter.

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