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Share-based compensation plans (Tables) | 9 Months Ended
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Sep. 30, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan | Compensation expenses for the share-based awards were as follows:
| Compensation Expense |  | Compensation Expense
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(in millions) | 2019 |  | 2018 |  | 2019 |  | 2018
Performance Share Units | $ | 7.0 |  |  | 3.1 |  |  | $ | 21.6 |  |  | 9.7 |
Market Share Units | — |  |  | — |  |  | — |  |  | 0.1 |
Restricted Stock Units | 1.4 |  |  | 1.6 |  |  | 5.3 |  |  | 4.9 |
Deferred Stock Units and fees paid in stock | 0.3 |  |  | 0.4 |  |  | 0.9 |  |  | 0.9 |
Stock Options | 1.1 |  |  | 1.2 |  |  | 8.1 |  |  | 3.2 |
Share-based payment expense | 9.8 |  |  | 6.3 |  |  | 35.9 |  |  | 18.8 |
Income tax benefit | (2.3 | ) |  | (1.5 | ) |  | (8.3 | ) |  | (4.4 | )
Share-based payment expense, net of tax | $ | 7.5 |  |  | 4.8 |  |  | $ | 27.6 |  |  | 14.4 |
Option activity | The following table summarizes performance-based stock option activity during the first nine months of 2019:
| Shares (in thousands) |  | Weighted-Average Grant-Date Fair Value
Outstanding balance as of December 31, 2018 | 1,287.0 |  |  | $ | 10.88 |
Granted | — |  |  | — |
Forfeited | — |  |  | — |
Exercised | — |  |  | — |
Outstanding balance as of September 30, 2019(a) | 1,287.0 |  |  | $ | 14.00 |
(a) | Certain performance-based stock options were modified in the second quarter of 2019. The weighted-average grant date fair value per share at September 30, 2019 reflects the inclusion of the modified fair value per share for the modified awards.
The following table summarizes time-based stock option activity during the first nine months of 2019:
| Shares (in thousands) |  | Weighted-Average Grant-Date Fair Value
Outstanding balance as of December 31, 2018 | 2.7 |  |  | $ | 21.09 |
Granted | 138.7 |  |  | 21.58 |
Forfeited | (14.4 | ) |  | 21.60 |
Exercised | — |  |  | — |
Outstanding balance as of September 30, 2019 | 127.0 |  |  | $ | 21.56 |
Nonvested share activity | The following table summarizes all DSU activity during the first nine months of 2019:
| Shares (in thousands) |  | Weighted-Average Grant-Date Fair Value
Nonvested balance as of December 31, 2018 | 12.5 |  |  | $ | 74.43 |
Granted | 12.1 |  |  | 79.69 |
Vested | (12.5 | ) |  | 74.43 |
Nonvested balance as of September 30, 2019 | 12.1 |  |  | $ | 79.69 |
The following table summarizes all PSU activity during the first nine months of 2019:
| Shares (in thousands) |  | Weighted-Average Grant-Date Fair Value
Nonvested balance as of December 31, 2018 | 697.3 |  |  | $ | 47.74 |
Granted | 202.9 |  |  | 81.42 |
Forfeited | (19.2 | ) |  | 72.64 |
Vested(a)(b)(c) | (316.1 | ) |  | 32.35 |
Nonvested balance as of September 30, 2019(c) | 564.9 |  |  | $ | 70.01 |
(a) | The vested PSUs presented are based on the target amount of the award. In accordance with the terms of the underlying award agreements, the actual shares earned and distributed for the performance period ended December 31, 2018 were 225.9 compared to target shares of 187.0. Additionally, in accordance with the terms of the underlying award agreements, the actual shares earned and distributed for the performance period ended June 30, 2017 were 129.1 compared to target shares of 129.1.
(b) | Certain PSUs were modified and distributed in the first quarter of 2019 and the resulting impact was not material.
(c) | Certain PSUs were modified in the second quarter of 2019. A portion of these modified PSUs were distributed in the third quarter of 2019. The weighted-average grant date fair value per share at September 30, 2019 reflects the inclusion of the modified fair value per share for the remaining modified awards.
The following table summarizes RSU activity during the first nine months of 2019:
| Shares (in thousands) |  | Weighted-Average Grant-Date Fair Value
Nonvested balance as of December 31, 2018 | 235.8 |  |  | $ | 52.63 |
Granted | 92.2 |  |  | 78.08 |
Forfeited | (9.9 | ) |  | 71.65 |
Vested | (133.8 | ) |  | 42.92 |
Nonvested balance as of September 30, 2019(a) | 184.3 |  |  | $ | 71.74 |
(a) | Certain RSUs were modified in the second quarter of 2019. The weighted-average grant date fair value per share at September 30, 2019 reflects the inclusion of the modified fair value per share for the modified awards.

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- Definition Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5047-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the amount of total share-based compensation cost, including the amounts attributable to each share-based compensation plan and any related tax benefits. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901 + Details
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