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Stock-Based Compensation Plans | 9 Months Ended
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Sep. 30, 2023
Share-Based Payment Arrangement, Noncash Expense [Abstract] |
Stock-Based Compensation Plans | STOCK-BASED COMPENSATION PLANS A summary of restricted stock unit activity is presented in the following table:
Restricted Stock Units |  | Number of Restricted Stock Units |  | Weighted Average Grant-Date Fair Value Per Share
Outstanding as of December 31, 2022 |  | 341,228 |  |  | $ | 169.28 |
Granted |  | 15,027 |  |  | 466.15
Converted |  | (101,757) |  |  | 233.39
Forfeited |  | (791) |  |  | 461.95
Outstanding as of September 30, 2023 |  | 253,707 |  |  | $ | 160.24 |
Stock-based compensation expense consists of the following:
(In millions) |  | For the Three Months Ended September 30, |  | For the Nine Months Ended September 30,
|  | 2023 |  | 2022 |  | 2023 |  | 2022
Stock options |  | $ | 8.0 |  |  | $ | 8.1 |  |  | $ | 25.1 |  |  | $ | 25.1 |
Restricted stock units |  | 1.3 |  |  | 0.6 |  |  | 3.9 |  |  | 1.8 |
Total |  | $ | 9.3 |  |  | $ | 8.7 |  |  | $ | 29.0 |  |  | $ | 26.9 |
We expect to recognize the future stock-based compensation expense as follows:
(in millions) |  |  |  |  |  |
Year |  | Total Projected Stock-Based Compensation Expense |  |  |  |
Remainder of 2023 |  | $ | 9.9 |  |  |  |  |
2024 |  | 38.2 |  |  |  |  |
2025 |  | 9.2 |  |  |  |  |
2026 |  | 3.6 |  |  |  |  |
2027 |  | 0.1 |  |  |  |  |
Total |  | $ | 61.0 |  |  |  |  |

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