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Share-Based Compensation | 9 Months Ended
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Sep. 30, 2020
Share-based Payment Arrangement [Abstract] |
Share-Based Compensation | Share-Based Compensation During the nine months ended September 30, 2020, we granted 288,000 non-qualified employee stock options, 34,950 restricted stock units, 54,270 performance shares, and 20,361 phantom stock units. For the three months and nine months ended September 30, 2020, total share-based compensation expense was $3.9 million and $9.8 million and the related tax benefits were $1.0 million and $2.5 million. For the three months and nine months ended September 30, 2019, total share-based compensation expense was $4.1 million and $13.7 million the related tax benefits were $1.0 million and $3.4 million. The estimated fair value of our 2020 non-qualified employee stock option awards and related underlying assumptions are shown in the table below.
| 2020
Weighted-average estimated fair value | $22.50
Quarterly dividend rate | $0.48
Expected term of stock options, in years | 4.2
Risk-free interest rate | 1.3%
Dividend yield | 2.5%
Expected stock price volatility | 28.5%
Present value of dividends | $7.89

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- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
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