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Share Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Summary Of Non-Vested Share Award Related Compensation Expense Recognized The following table summarizes time-based share award compensation expense and the related income tax benefit recognized (in millions):
Years Ended December 31,
202420232022
Contract drilling$8.8 $6.8 $3.9 
General and administrative8.7 9.0 6.8 
17.5 15.8 10.7 
Tax benefit(1.1)(1.6)(0.9)
Total $16.4 $14.2 $9.8 
Summary Of Value Of Non-Vested Share Awards Granted And Vested
The following table summarizes the value of time-based share awards granted and vested:
Years Ended December 31,
202420232022
Weighted-average grant date fair value of share awards granted during the period (per share)
$69.89 $63.22 $45.39 
Total fair value of share awards vested during the period (in millions)
$30.0 $25.2 $12.8 
Summary Of Non-Vested Share Award Activity
The following table summarizes time-based share awards activity for the year ended December 31, 2024 (shares in thousands):
Share Awards
AwardsWeighted-Average
Grant Date
Fair Value
Share awards as of December 31, 2023
758 $45.29 
Granted312 $69.89 
Vested
(408)$39.88 
Forfeited(65)$56.66 
Share awards as of December 31, 2024
597 $60.58 
Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions
The fair value of the performance awards is measured on the date of grant. The grant-date fair value per unit for the portion of the performance awards related to Performance-Based Objectives was equal to the closing price of the Company's stock on the grant date. The portion of these awards that were based on the Company's achievement of Market-based Objectives were valued at the date of grant using a Monte Carlo simulation with the following weighted average assumptions for the grants made in the years ended December 31, 2024, 2023 and 2022:

Years Ended December 31,
202420232022
Expected price volatility49 %60 %61 %
Expected dividend yield— — — 
Risk-free interest rate4.31 %4.32 %3.49 %
Schedule Of Summary Of Performance Award Activity
The following table summarizes the performance award activity for the year ended December 31, 2024 (shares in thousands):

Awards(2)
Weighted Average Grant Date Fair Value Price(2)
Balance as of December 31, 2023
894 $27.49 
Granted - Market-Based Objectives(1)
173 $63.05 
Vested - Market-Based Objectives
(557)$17.72 
Vested - Performance-Based Objectives
(234)$38.54 
Total Vested
(791)$23.88 
Forfeited - Performance-Based Objectives
(5)$71.63 
Balance as of December 31, 2024
271 $61.69 

(1)The number of awards granted reflects the shares that would be granted if the target level of performance were to be achieved. The number of shares actually issued after considering forfeitures may range from zero to 381,000.