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Share-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2021
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,
| 2021 |  | 2020 |  | 2019
Option awards | $ | 9.8 |  | $ | 13.8 |  | $ | 21.8
Other share-based awards | 40.9 |  | 40.9 |  | 48.0
Total share-based compensation before tax | 50.7 |  | 54.7 |  | 69.8
Tax benefit | 12.1 |  | 13.1 |  | 16.6
Total share-based compensation expense included in net income | $ | 38.6 |  | $ | 41.6 |  | $ | 53.2
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, 2021:
| Omnibus Plan (Active)
| Options Outstanding |  | Weighted Average Exercise Price
Balance as of December 31, 2020 | 5,102,296 |  |  | $ | 98.70
Granted | 289,720 |  |  | 120.59
Exercised | (1,758,283) |  |  | 86.69
Forfeited/Expired | (354,032) |  |  | 124.46
Balance as of December 31, 2021 | 3,279,701 |  |  | $ | 104.29
Options exercisable as of December 31, 2021 | 2,379,543 |  |  | $ | 106.11
Schedule of weighted average fair value | The following assumptions were used to estimate the weighted average fair value of options of $36.77, $21.76 and $19.54 granted during the years ended December 31, 2021, 2020 and 2019, respectively:
| For the Years Ended December 31,
| 2021 |  | 2020 |  | 2019
Weighted-average volatility | 43% |  | 34% |  | 32%
Expected dividend yield | 2.1% |  | 2.6% |  | 2.9%
Expected term (in years) | 4.7 |  | 4.5 |  | 4.5
Weighted average risk free interest rate | 0.5% |  | 1.4% |  | 2.5%
Schedule of restricted stock activity | The following table summarizes restricted stock activity for the year ended December 31, 2021:
| Shares Outstanding |  | Weighted Average Grant Price
Balance as of December 31, 2020 | 1,143,076 |  |  | $ | 98.20
Granted | 397,987 |  |  | 122.08
Vested | (367,820) |  |  | 113.63
Forfeited/Cancelled | (109,490) |  |  | 98.96
Balance as of December 31, 2021 | 1,063,753 |  |  | $ | 101.72
Expected to vest as of December 31, 2021 | 1,095,667 |  |  | $ | 101.47

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- Definition Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit. + 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=120381028&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=120381028&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=120381028&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=120381028&loc=d3e5070-113901 + Details
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- Definition 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. + 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 (f)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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