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Equity Compensation Plans (Tables)
12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of Information With Respect to Stock Options We used the following assumptions in determining the fair value of these awards:
Expected stock price volatilityAnnual expected dividend yieldRisk free interest rate
Shares granted February 16, 2023
Enpro Inc.36.78 %— %4.34 %
S&P 600 Capital Goods Index44.65 %n/a4.34 %
Shares granted February 15, 2022
Enpro Inc.33.1 %1.00 %4.26 %
S&P 600 Capital Goods Index39.43 %n/a4.26 %
Shares granted February 16, 2021
EnPro Industries, Inc.47.32 %1.4 %0.22 %
S&P 600 Capital Goods Index50.86 %n/a0.22 %
The following table provides certain information with respect to stock options as of December 31, 2023:
Range of Exercise PriceStock Options OutstandingStock Options ExercisableWeighted Average Exercise PriceWeighted Average Remaining Contractual Life
Under $80.00
42,091 42,091 $53.78 6.16
Over $80.00 and under $95.00
63,231 39,280 $80.57 7.18
Over $95.00 and under $110.00
64,234 24,932 $106.47 8.11
Over $110.00
51,871 — $111.29 9.21
Total221,427 106,303 $90.19 7.73
Schedule of Restricted Share Units Activity, Performance Share Activity and Restricted Stock Activity
A summary of award activity under the Plans is as follows:
 Restricted Share UnitsPerformance Shares - Equity
 SharesWeighted-
Average
Grant Date
Fair Value
SharesWeighted-
Average
Grant Date
Fair Value
Nonvested at December 31, 2022124,597 88.52 — — 
Granted62,209 116.89 60,998 148.97 
Vested(42,450)79.61 — — 
Forfeited(12,947)96.14 (878)148.97 
Shares settled for cash(17,850)87.90 — — 
Nonvested at December 31, 2023113,559 $107.07 60,120 $148.97 

Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Valuation Assumptions
The following assumptions were used to estimate the indicated fair value of the 2023 option awards:
Grant Date
February 16, 2023March 2, 2023October 30, 2023
Fair-value at grant date (per share)$47.27 $45.13 $48.88 
Assumptions:
Average expected term6 years6 years6 years
Expected volatility39.59 %39.75 %40.38 %
Risk-free interest rate4.02 %4.22 %4.84 %
Expected dividend yield0.99 %1.05 %1.01 %
The following assumptions were used to estimate the indicated fair value of the 2022 option awards:
Grant Date
February 15, 2022February 24, 2022
Fair-value at grant date (per share)$38.86 $39.07 
Assumptions:
Average expected term6 years6 years
Expected volatility39.85 %39.88 %
Risk-free interest rate1.99 %1.89 %
Expected dividend yield1.06 %1.05 %
The following assumptions were used to estimate the indicated fair value of the 2021 option awards:
Grant Date
February 25, 2021May 4, 2021May 17, 2021August 5, 2021November 26, 2021
Fair-value at grant date (per share)$27.46 $30.32 $33.53 $29.78 $36.53 
Assumptions:
Average expected term6 years6 years6 years6 years5.6 years
Expected volatility40.29 %40.37 %40.46 %40.65 %39.51 %
Risk-free interest rate1.02 %1.05 %1.07 %0.87 %0.42 %
Expected dividend yield1.35 %1.24 %1.14 %1.26 %1.74 %
Schedule of Share-based Payment Arrangement, Option, Activity
A summary of option activity under the Plans as of December 31, 2023, and changes during the year then ended, is presented below:
Stock Options OutstandingWeighted Average Exercise Price
Balance at December 31, 2022184,930 $82.32 
Granted51,871 111.29 
Exercised(14,975)65.73 
Forfeited(399)106.54 
Balance at December 31, 2023221,427 $90.19 
Schedule Of Intrinsic Value Related to stock Options
The year-end intrinsic value related to stock options is presented below:
 December 31,
(in millions)202320222021
Options outstanding$14.7 $4.9 $6.1 
Options exercisable$8.6 $2.4 $1.3 
Schedule of Equity Based Compensation
We recognized the following equity-based employee compensation expenses and benefits related to our Plan activity:
 Years Ended December 31,
(in millions)202320222021
Compensation expense$8.8 $6.0 $5.0 
Related income tax benefit$2.4 $1.6 $1.4