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Share-Based Payment Awards (Tables)
 9 Months Ended
Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of Fair Value Assumptions of Market-based Awards The fair value of the Company's market-based performance awards is estimated using the Company's stock price on the date of grant and the probability of vesting using a Monte Carlo simulation with the following weighted-average assumptions:
2023 Grants2022 Grants
Volatility of A&B common stock
31.8% - 49.1%
47.7%
Average volatility of peer companies
33.6% - 48.2%
49.5%
Risk-free interest rate
3.8% - 4.5%
1.4%
Schedule of Compensation Cost Related to Share-Based Payments
The Company recognizes compensation cost net of actual forfeitures of time-based or market-based awards. A summary of compensation cost related to share-based payments is as follows (in millions):
Three Months Ended September 30, Nine Months Ended September 30,
2023202220232022
Share-based expense:
Time-based and market-based restricted stock units$1.0 $1.6 $5.3 $4.6