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Share-Based Compensation
 3 Months Ended
Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Share-Based Compensation Share-Based Compensation
The following table presents share-based compensation expense:
For the Three Months
Ended March 31,
2023
2024
Share-based compensation expense
$14.7
$21.1
Tax benefit
1.7
2.3
As of December 31, 2023, the Company had unrecognized share-based compensation expense of $54.4 million.  As of
March 31, 2024, the Company had unrecognized share-based compensation expense of $70.2 million, which will be recognized
over a weighted average period of approximately two years (assuming no forfeitures).
Restricted Stock
The following table summarizes transactions in the Company’s restricted stock units:
Restricted
Stock Units
Weighted Average
Grant Date Value
Unvested units—December 31, 2023
0.9
$138.51
Units granted
0.2
158.51
Units vested
(0.3)
129.42
Units forfeited
(0.0)
147.04
Performance condition changes
0.0
157.42
Unvested units—March 31, 2024
0.8
147.14
For the three months ended March 31, 2023 and 2024, the Company granted restricted stock units with fair values of $45.5
million and $26.5 million, respectively.  These restricted stock units were valued based on the closing price of the Company’s
common stock on the grant date and the number of shares expected to vest.  Restricted stock units containing vesting conditions
generally require service over a period of three years to four years and may also require the satisfaction of certain performance
conditions.  For awards with performance conditions, the number of restricted stock units expected to vest may change over
time depending upon the performance level achieved.
Stock Options
The following table summarizes transactions in the Company’s stock options:
Stock
Options
Weighted Average
Exercise Price
Weighted Average
Remaining
Contractual Life
(Years)
Unexercised options outstanding—December 31, 2023
3.2
$76.74
 
Options granted
—
—
Options exercised
(0.0)
86.65
Options forfeited
—
—
 
Options expired
(0.0)
152.36
Performance condition changes
0.0
129.17
Unexercised options outstanding—March 31, 2024
3.2
76.77
2.5
Exercisable at March 31, 2024
0.0
123.38
2.7
The Company did not grant any stock options during the three months ended March 31, 2023 and 2024.  Stock options
generally vest over a period of three years to five years and expire seven years after the grant date.  All stock options have been
granted with exercise prices equal to the closing price of the Company’s common stock on the grant date.  Substantially all of
the Company’s outstanding stock options contain both service and performance conditions.  For awards with performance
conditions, the number of stock options expected to vest may change over time depending upon the performance level achieved.