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SHARE-BASED COMPENSATION (Tables) | 12 Months Ended
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Dec. 31, 2022
Share-Based Payment Arrangement [Abstract] |
Summary of Compensation Expense | Share-based compensation is included in Selling and administrative expense. A summary of compensation expense by type of award follows:
(In millions) |  | 2022 |  | 2021 |  | 2020
Stock appreciation rights |  | $ | 5.9 |  |  | $ | 5.2 |  |  | $ | 4.4 |
Performance shares |  | 0.2 |  |  | 0.2 |  |  | 0.2 |
Restricted stock units |  | 7.1 |  |  | 5.8 |  |  | 6.7 |
Total share-based compensation |  | $ | 13.2 |  |  | $ | 11.2 |  |  | $ | 11.3 |
Summary of Assumptions Related To Grants | The following is a summary of the weighted average assumptions related to the grants issued during 2022, 2021 and 2020:
|  | 2022 |  | 2021 |  | 2020
Expected volatility |  | 33.0% |  | 34.0% |  | 33.0%
Expected dividends |  | 1.80% |  | 2.01% |  | 2.57%
Expected term (in years) |  | 6.9 |  | 6.9 |  | 6.9
Risk-free rate |  | 1.98% |  | 1.19% |  | 1.56%
Value of SARs granted |  | $14.91 |  | $11.72 |  | $8.11
Summary of Stock Appreciation Rights | A summary of SAR activity for 2022 is presented below:
(In millions, except per share data) |  | Shares |  | Weighted-Average Exercise Price per Share |  | Weighted-Average Remaining Contractual Term |  | Aggregate Intrinsic value
Outstanding as of January 1, 2022 |  | 1.9 |  |  | $ | 33.86 |  |  | 7.1 |  | $ | 39.1 |
Granted |  | 0.4 |  |  | 52.64 |  |  |  |  |
Exercised |  | (0.1) |  |  | 32.12 |  |  |  |  |
Forfeited or expired |  | — |  |  | 45.88 |  |  |  |  |
Outstanding as of December 31, 2022 |  | 2.2 |  |  | $ | 39.08 |  |  | 6.8 |  | $ | 2.6 |
Vested and exercisable as of December 31, 2022 |  | 1.2 |  |  | $ | 34.63 |  |  | 5.6 |  | $ | 2.2 |

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- Definition Tabular disclosure of share-based payment arrangement. + 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 https://asc.fasb.org/extlink&oid=128089324&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 https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for stock appreciation rights awards that were outstanding at the beginning and end of the year, and the number of stock appreciation rights awards that were granted, exercised or converted, forfeited, and expired during the year. + 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 (c)(1) -URI https://asc.fasb.org/extlink&oid=128089324&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 https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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