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Share-based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2022
Share-Based Payment Arrangement [Abstract] |
Allocation of Stock-based Compensation | Our share-based compensation and ESPP expense is included in the table below.
| Years Ended December 31,
In millions | 2022 |  | 2021 |  | 2020
Stock option expense | $ | 1.5 |  |  | $ | 1.7 |  |  | $ | 0.6 |
ESPP expense | 0.7 |  |  | 0.6 |  |  | 0.5 |
RSU, DSU and PSU expense | 13.9 |  |  | 10.0 |  |  | 7.3 |
Total share-based compensation expense (1) | $ | 16.1 |  |  | $ | 12.3 |  |  | $ | 8.4 |
Income tax benefit | (3.1) |  |  | (2.3) |  |  | (1.5) |
Total share-based compensation expense, net of tax | $ | 13.0 |  |  | $ | 10.0 |  |  | $ | 6.9 |
_______________ (1) Amounts reflected in "Selling, general, and administrative expenses" on the consolidated statements of operations.
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques | Expense related to stock options granted is based on the assumptions shown in the table below:
| Years Ended December 31,
Weighted-average assumptions used to calculate expense for stock options | 2022 |  | 2021 |  | 2020
Risk-free interest rate | 1.8 | % |  | 1.0 | % |  | 1.0 | %
Average life of options (years) | 6.0 |  | 6.5 |  | 6.5
Volatility | 40.0 | % |  | 46.0 | % |  | 33.5 | %
Dividend yield | — |  |  | — |  |  | — |
Fair value per stock option | $ | 28.80 |  |  | $ | 33.07 |  |  | $ | 15.87 |
Disclosure of Stock-based Compensation Arrangements by Stock-based Payment Award | The following table summarizes Ingevity's stock option activity.
| Number of Options (in thousands) |  | Weighted-average exercise price (per share) |  | Weighted-average remaining contractual term (years) |  | Aggregate intrinsic value (in thousands)
Outstanding, December 31, 2021 | 338 |  |  | $ | 61.34 |  |  | 6.7 |  | $ | 5,366 |
Granted | 74 |  |  | 68.23 |  |  |  |  |
Exercised | (33) |  |  | 46.79 |  |  |  |  |
Forfeited | (44) |  |  | 69.94 |  |  |  |  |
Cancelled | — |  |  | — |  |  |  |  |
Outstanding, December 31, 2022 | 335 |  |  | $ | 63.18 |  |  | 6.1 |  | $ | 4,100 |
Exercisable, December 31, 2022 | 224 |  |  | $ | 61.94 |  |  | 4.9 |  | $ | 3,568 |
Schedule of Nonvested Share Activity | The following table summarizes Ingevity's RSUs, DSUs, and PSUs activity.
| RSUs and DSUs |  | PSUs
| Number of Units (in thousands) (1) |  | Weighted average grant date fair value (per share) |  | Number of Units (in thousands) (1) |  | Weighted average grant date fair value (per share)
Nonvested, December 31, 2021 | 243 |  |  | $ | 67.36 |  |  | 166 |  |  | $ | 65.91 |
Granted | 179 |  |  | 66.42 |  |  | 83 |  |  | 68.23 |
Vested | (95) |  |  | 71.62 |  |  | — |  |  | — |
Forfeited | (26) |  |  | 63.32 |  |  | (56) |  |  | 82.96 |
Nonvested, December 31, 2022 (2) | 301 |  |  | $ | 6.04 |  |  | 193 |  |  | $ | 61.88 |
_______________ (1) The number granted represents the number of shares issuable upon vesting of RSUs and DSUs. For PSUs, the number granted represents the number of shares issuable upon vesting, assuming that Ingevity performs at the target performance level in each year of the three-year performance period. (2) Excludes 5,715 non-employee director shares that were vested but unissued at December 31, 2022.

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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 https://asc.fasb.org/extlink&oid=128089324&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 https://asc.fasb.org/extlink&oid=128089324&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 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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