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Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement [Abstract]

Schedule of share-based compensation expenses

Total share-based compensation expenses were as follows (in millions):

			For the Years Ended December 31,
			2020						2019						2018
Option awards			$	13.8					$	21.8					$	23.4
Other share-based awards			40.9						48.0						28.5
Total share-based compensation before tax			54.7						69.8						51.9
Tax benefit			13.1						16.6						12.3
Total share-based compensation expense included in net income			$	41.6					$	53.2					$	39.6

Schedule of stock option activity

The following summarizes stock option activity and the weighted average exercise price for the Omnibus Plan for the year ended December 31, 2020:

			Omnibus Plan (Active)
			Options Outstanding						Weighted Average Exercise Price
Balance as of December 31, 2019			5,654,258						$	96.83
Granted			606,060						93.88
Exercised			(428,617)						72.49
Forfeited/Expired			(729,405)						95.62
Balance as of December 31, 2020			5,102,296						$	98.70
Options exercisable as of December 31, 2020			3,398,589						$	102.23

Schedule of weighted average fair value

The following assumptions were used to estimate the weighted average fair value of options of $21.76, $19.54 and $26.50 granted during the years ended December 31, 2020, 2019 and 2018, respectively:

			For the Years Ended December 31,
			2020						2019						2018
Weighted-average volatility			34%						32%						30%
Expected dividend yield			2.6%						2.9%						2.1%
Expected term (in years)			4.5						4.5						4.4
Weighted average risk free interest rate			1.4%						2.5%						2.6%

Schedule of restricted stock activity

The following table summarizes restricted stock activity for the year ended December 31, 2020:

			Shares Outstanding						Weighted Average Grant Price
Balance as of December 31, 2019			1,386,009						$	96.92
Granted			391,206						92.23
Vested			(423,154)						87.93
Forfeited/Cancelled			(210,985)						99.28
Balance as of December 31, 2020			1,143,076						$	98.20
Expected to vest as of December 31, 2020			1,135,950						$	98.12

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Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit.

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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.

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year.

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