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SHARE-BASED COMPENSATION (Tables) | 12 Months Ended
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Dec. 31, 2023
Share-Based Payment Arrangement [Abstract] |
Schedule 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) |  | 2023 |  | 2022 |  | 2021
Stock appreciation rights |  | $ | 6.1 |  |  | $ | 5.9 |  |  | $ | 5.2 |
Performance shares |  | 0.2 |  |  | 0.2 |  |  | 0.2 |
Restricted stock units |  | 6.9 |  |  | 7.1 |  |  | 5.8 |
Total share-based compensation |  | $ | 13.2 |  |  | $ | 13.2 |  |  | $ | 11.2 |
Schedule of Assumptions Related To Grants | The following is a summary of the weighted average assumptions related to the grants issued during 2023, 2022 and 2021:
|  | 2023 |  | 2022 |  | 2021
Expected volatility |  | 35.0% |  | 33.0% |  | 34.0%
Expected dividends |  | 2.30% |  | 1.80% |  | 2.01%
Expected term (in years) |  | 6.4 |  | 6.9 |  | 6.9
Risk-free rate |  | 3.82% |  | 1.98% |  | 1.19%
Value of SARs granted |  | $13.28 |  | $14.91 |  | $11.72
Schedule of Stock Appreciation Rights | A summary of SAR activity for 2023 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, 2023 |  | 2.2 |  |  | $ | 39.08 |  |  | 6.8 |  | $ | 2.6 |
Granted |  | 0.5 |  |  | 42.93 |  |  |  |  |
Exercised |  | (0.1) |  |  | 28.35 |  |  |  |  |
Forfeited or expired |  | (0.1) |  |  | 36.88 |  |  |  |  |
Outstanding as of December 31, 2023 |  | 2.5 |  |  | $ | 40.18 |  |  | 6.6 |  | $ | 9.2 |
Vested and exercisable as of December 31, 2023 |  | 1.5 |  |  | $ | 35.71 |  |  | 5.2 |  | $ | 9.2 |

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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 -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + 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 -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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