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Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Flexible Stock Plan Options

At December 31, 2022, the following common shares were authorized for issuance under the Plan:

 

			Shares Available for Issuance						Maximum Number of Authorized Shares
Unexercised options			.3						.3
Outstanding stock units—vested			3.5						9.1
Outstanding stock units—unvested			1.0						2.9
Available for grant			8.5						8.5
Authorized for issuance at December 31, 2022			13.3						20.8

Components Of Stock-Based Compensation

The following table recaps the impact of stock-based compensation on the results of operations for each of the periods presented:

			Year Ended December 31
			2022												2021												2020
			To Be Settled With Stock						To Be Settled In Cash						To Be Settled With Stock						To Be Settled In Cash						To Be Settled With Stock						To Be Settled In Cash
Executive Stock Unit (ESU) program contributions 1			$	3.7					$	.7					$	4.0					$	.6					$	3.5					$	.7
Discounts on various stock awards:
Deferred Compensation Program 2			1.6						—						1.5						—						2.2						—
ESU program 1			1.4						—						1.1						—						1.4						—
Discount Stock Plan 3			.8						—						.9						—						.9						—
Performance Stock Unit (PSU) awards: 4
PSU - TSR based 4A			2.5						(.5)						3.1						(1.0)						3.2						(.7)
PSU - EBIT CAGR based 4B			(1.7)						(2.0)						4.7						5.0						(1.9)						(2.0)
Restricted Stock Unit (RSU) awards 5			10.2						—						8.2						—						6.8						—
Other, primarily non-employee directors restricted stock			1.0						—						.4						—						.9						—
Total stock-related compensation expense (income)			19.5						$	(1.8)					23.9						$	4.6					17.0						$	(2.0)
Employee contributions for above stock plans			10.6												10.3												12.2
Total stock-based compensation			$	30.1											$	34.2											$	29.2
Tax benefits on stock-based compensation expense			$	4.7											$	5.8											$	4.0
Tax benefits on stock-based compensation payments			.6												3.4												2.5
Total tax benefits associated with stock-based compensation			$	5.3											$	9.2											$	6.5

Schedule of Stock-based Compensation Assets and Liabilities

The following table recaps the impact of stock-based compensation on assets and liabilities for each of the periods presented:

			2022																		2021
			Current						Long-term						Total						Current						Long-term						Total
Assets:
Diversified investments associated with the ESU program 1			$	3.1					$	39.7					$	42.8					$	3.6					$	47.4					$	51.0
Liabilities:
ESU program 1			$	3.1					$	40.9					$	44.0					$	3.6					$	47.3					$	50.9
Performance Stock Unit (TSR) award 4A			—						.6						.6						—						1.1						1.1
Performance Stock Unit (EBIT) award 4B			—						.7						.7						3.5						2.7						6.2
Other - primarily timing differences between employee withholdings and related employer contributions to be submitted to various plans' trust accounts			5.9						—						5.9						5.6						—						5.6
Total liabilities associated with stock-based compensation			$	9.0					$	42.2					$	51.2					$	12.7					$	51.1					$	63.8

Deferred Compensation Arrangement with Individual Disclosure, Postretirement Benefits

			Options						Units						Cash
Aggregate amount of compensation deferred during 2022			$	.1					$	4.7					$	.4

Discount Stock Plan

Average 2022 purchase price per share (net of discount)			$	31.07
2022 number of shares purchased by employees			.2
Shares purchased since inception in 1982			23.8
Maximum shares under the plan			27.0

Schedule Of Share Based Compensation Arrangement By Share Based Payment Award Performance Based Units Table

Below is a summary of shares and grant date fair value related to PSU awards for the periods presented:

 

			Year Ended December 31
			2022						2021						2020
TSR Based
Total shares base award			.1						.1						.1
Grant date per share fair value			$	41.13					$	49.43					$	38.23
Risk-free interest rate			1.7		%				.2		%				1.4		%
Expected life in years			3.0						3.0						3.0
Expected volatility (over expected life)			45.2		%				44.3		%				24.0		%
Expected dividend yield (over expected life)			4.6		%				3.7		%				3.6		%
EBIT CAGR Based
Total shares base award			.1						.1						.1
Grant date per share fair value			$	32.88					$	38.77					$	40.52
Vesting period in years			3.0						3.0						3.0

Three-Year Performance Cycle for PSU - TSR Based
Award Year						Completion Date						TSR Performance Relative to the Peer Group (1%=Best)						Payout as a Percent of the Base Award						Number of Shares Distributed						Cash Portion						Distribution Date
2018						December 31, 2020						60		th percentile				56.0%						<.1 million						$	2.0					First quarter 2021
2019						December 31, 2021						78		th percentile				—%						— million						$	—					First quarter 2022
2020						December 31, 2022						87		th percentile				—%						— million						$	—					First quarter 2023

Three-Year Performance Cycle for PSU - EBIT CAGR Based
Award Year						Completion Date									Payout as a Percent of the Base Award						Number of Shares Distributed						Cash Portion						Distribution Date
2018						December 31, 2020									16.0%						<.1 million						$	.4					First quarter 2021
2019						December 31, 2021									127.0%						<.1 million						$	3.5					First quarter 2022
2020						December 31, 2022									—%						— million						$	—					First quarter 2023

Schedule of Share-based Compensation, Restricted Stock Units Award Activity

Stock unit information for the plans discussed above is presented in the table below:

			DSU						ESU						PSU						RSU												Total Units						Weighted Average Grant Date Fair Value per Unit						Aggregate Intrinsic Value
Unvested at December 31, 2021			—						—						.8						.2												1.0						$	44.41
Granted based on current service			.2						.2						—						.3												.7						35.78
Granted based on future conditions*			—						—						.3						—												.3						17.99
Vested			(.2)						(.2)						(.1)						(.3)												(.8)						38.21
Forfeited*			—						—						(.2)						—												(.2)						21.33
Unvested at December 31, 2022			—						—						.8						.2												1.0						$	42.34					$	30.7
Fully vested shares available for issuance at December 31, 2022																																	3.5												$	111.6

*PSU awards are presented at maximum payout of 200% at grant date and when forfeited.

Stock Units Converted To Common Stock

			Year Ended December 31
			2022						2021						2020
Total intrinsic value of vested stock units converted to common stock			$	5.7					$	10.5					$	11.7

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