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Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2023

Share-Based Payment Arrangement [Abstract]

Components of the Company’s Stock-Based Compensation Expense

The following table summarizes the components of stock-based compensation expense included in general and administrative expenses in the Consolidated Statements of Comprehensive Income:

			Three Months Ended September 30,												Nine Months Ended September 30,
			2023						2022						2023						2022
			(In millions)
Equity classified awards expense			$	2.9					$	3.8					$	8.2					$	12.2
Liability classified awards (credit) expense			0.2						0.3						(0.4)						1.7
Total stock-based compensation expense			$	3.1					$	4.1					$	7.8					$	13.9

Schedule of Stock Option Valuation Assumptions

The following table summarizes the assumptions used in the Black-Scholes model for stock options granted during the nine months ended September 30, 2023:

Risk-free interest rate			4.4		%
Historical volatility			70.9		%
Dividend yield			2.7		%
Expected years until exercise			4.5
Fair value of options granted			$37.35

Schedule of Stock Option Activity

Stock option balances at September 30, 2023, and activity for the nine months ended September 30, 2023 were as follows:

						Number of Shares Under Option						Weighted Average Exercise Price Per Share						Weighted Average Remaining Contractual Term (in Years)						Aggregate Intrinsic Value (in Millions)
Outstanding at December 31, 2022						539,575						$	75.65
Granted						72,291						74.94
Exercised						(69,443)						54.90
Expired						(55,879)						82.17
Forfeited						(20,876)						79.11
Outstanding at September 30, 2023						465,668						77.69						5.99						$	—
Vested and Expected to Vest at September 30, 2023						449,236						77.84						5.9						$	—
Exercisable at September 30, 2023						325,063						$	79.62					4.8						$	—

Schedule of Restricted Stock Unit Activity

Outstanding balances as of September 30, 2023, and activity related to restricted stock and restricted stock units for the nine months ended September 30, 2023 were as follows:

						Shares of Restricted Stock						Weighted Average Grant Date Fair Value						Stock-Settled Restricted Stock Units						Weighted Average Grant Date Fair Value
Outstanding at December 31, 2022						355,900						$	73.57					123,895						$	62.11
Granted						210,418						73.28						21,654						74.01
Released						(151,920)						74.11						(47,857)						64.04
Forfeited						(54,723)						73.10						(39,294)						77.23
Outstanding at September 30, 2023						359,675						$	73.24					58,398						$	54.05

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Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

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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.

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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.

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Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year.

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