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Share-Based Compensation Plans (Tables) | 12 Months Ended
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Dec. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule of Employee Stock Purchase Plan | Following is information regarding our ESPP:
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Cash received related to ESPP purchases ($ in millions) | $ | 27.1 |  |  | $ | 29.3 |  |  | $ | 34.4 |
Tax deductions associated with ESPP disqualifying dispositions ($ in millions) | $ | 3.5 |  |  | $ | 3.9 |  |  | $ | 3.1 |
Weighted average per share discount for compensation expense recognized | $ | 44.75 |  |  | $ | 41.58 |  |  | $ | 38.57 |
Schedule of Restricted Stock Units Activity | RSU grants vest over a period of time up to four years from the date of grant. RSU activity was as follows:
| RSUs |  | Weighted average per share grant date fair value
Balance, December 31, 2023 | 529,676 |  |  | $ | 159.85 |
Granted | 313,386 |  |  | 338.00 |
Vested | (113,077) |  |  | 234.48 |
Forfeited | (46,801) |  |  | 292.82 |
Balance, December 31, 2024 | 683,184 |  |  | 317.66 |
Schedule of Assumptions in Valuation of RSUs | The assumptions for the valuation of time-vesting RSUs and performance and time-vesting RSUs granted are summarized as follows:
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Time-vesting RSUs |  |  |  |  |
Number of shares granted | 44,773 |  |  | 48,872 |  |  | 18,080 |
Grant date fair value per share | $ | 305.78 |  |  | $ | 268.60 |  |  | $ | 283.86 |
Weighted-average assumptions/inputs: |  |  |  |  |
Expected dividend yield | 0.6 | % |  | 0.6 | % |  | 0.5 | %
Range of risk-free interest rates | 3.8% - 4.8% |  | 3.6% - 4.7% |  | 1.2% - 4.5%
Performance and Time-vesting RSUs |  |  |  |  |
Number of shares granted | 268,764 |  |  | 279,083 |  |  | 120,340 |
Grant date fair value per share | $ | 350.38 |  |  | $ | 313.84 |  |  | $ | 296.28 |
Weighted-average assumptions/inputs: |  |  |  |  |
Expected dividend yield | 0.6 | % |  | 0.6 | % |  | 0.5 | %
Range of risk-free interest rates | 3.9% - 4.8% |  | 3.6% - 4.5% |  | 0.4% -3.2%
Summary of Certain Information Regarding RSU Grant Vesting | Certain information regarding RSU grant vesting was as follows:
| Year Ended December 31,
($ in millions) | 2024 |  | 2023 |  | 2022
Number of shares vested | 113,077 |  | 182,056 |  | 147,441
Weighted average per share fair value of non-vested shares that vested during the period | $ | 234.48 |  |  | $ | 174.61 |  |  | $ | 110.77 |
Tax deduction realized related to shares that vested during the period ($ in millions) | $ | 21.9 |  |  | $ | 25.8 |  |  | $ | 20.3 |
Schedule of Stock-Based Compensation | SG&A expense related to all share-based compensation is as follows:
| Year Ended December 31,
($ in millions) | 2024 |  | 2023 |  | 2022
Restricted stock unit awards | $ | 53.6 |  |  | $ | 35.6 |  |  | $ | 35.0 |
Employee stock purchase plan | 4.8 |  |  | 5.2 |  |  | 6.1 |
Total share-based compensation | 58.4 |  | 40.8 |  | 41.1
Tax expense | (6.0) |  |  | (7.6) |  |  | (6.4) |
Net expense recognized | $ | 52.4 |  |  | $ | 33.2 |  |  | $ | 34.7 |

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