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Stockholders’ (Deficit) Equity (Tables)
 12 Months Ended
Dec. 31, 2021
Equity [Abstract]  
Summary of Cash Dividends Paid
The following table shows our total cash dividends paid in the years ended December 31, 2021, 2020 and 2019:
(In millions, except per share amounts)Total Cash
Dividends Paid		Total Cash Dividends Paid per Common Share
2019$99.1 $0.64 
2020100.3 0.64 
2021115.8 0.76 
Summary of Changes in Common Stock and Common Stock in Treasury
The following is a summary of changes during the years ended December 31, in shares of our common stock and common stock in treasury:
 202120202019
Changes in common stock:   
Number of shares, beginning of year231,958,083 231,622,535 231,619,037 
Restricted stock shares issued for new awards— — 1,478 
Restricted stock shares, forfeited(1,095)(15,271)(110,984)
Shares issued for vested restricted stock units423,302 315,902 164,347 
Shares issued for 2017 Three-Year PSU Awards— 133,752 — 
Shares issued for 2018 Three-Year PSU Awards47,730 — — 
Shares issued for 2020 Three-Year PSU Awards(3)
13,770 — — 
Shares issued for Stock Leverage Opportunity Awards (SLO)
32,128 8,471 6,321 
Shares granted and issued under the Omnibus Incentive Plan and Directors Stock Plan to Directors
54,277 42,911 123,824 
Canceled shares for tax netting(1)
(44,914)(150,217)(181,488)
Number of shares issued, end of year232,483,281 231,958,083 231,622,535 
Changes in common stock in treasury:   
Number of shares held, beginning of year77,068,311 77,109,722 75,964,667 
Repurchase of common stock(2)
7,949,688 782,156 1,632,163 
Profit sharing contribution paid in stock(633,875)(823,567)(487,108)
Number of shares held, end of year(2)
84,384,124 77,068,311 77,109,722 
Number of common stock outstanding, end of year(2)
148,099,157 154,889,772 154,512,813 
 
 
       
(1)Effective January 1, 2019, new share issuances for vested awards are netted by the number of shares required to cover the recipients' portion of income tax. The portion withheld for taxes are canceled. Shares netted for taxes in 2021, 2020 and 2019 primarily relates to vesting activity for restricted stock shares issued in prior years.
(2)Repurchase of common stock for the year ended December 31, 2021, as shown above, includes 74,281 shares of common stock that had been repurchased by the Company in 2020 but were not yet settled or not yet reflected by the Recordkeeper as of December 31, 2020. The table above and our Consolidated Balance Sheets reflect the number of shares held in treasury per our Recordkeeper.
(3)Per the terms of his 2019 offer letter, shares equal to the target number of units granted, net of shares withheld for taxes, were issued to our former CFO, James Sullivan, on September 30, 2021.
Summary of Changes in Common Shares Available for Awards under Omnibus Plan and Predecessor Plans
A summary of the changes in common shares available for awards under the Omnibus Incentive Plan and Predecessor Plans follows:
202120202019
Number of shares available, beginning of year3,183,310 4,048,509 4,489,347 
Newly approved shares under Omnibus Incentive Plan2,999,054 — — 
Restricted stock shares forfeited1,095 15,271 105,960 
Restricted stock units awarded(918,973)(1,014,667)(819,808)
Restricted stock units forfeited115,641 105,832 96,534 
Shares issued for 2017 Three-Year PSU Awards— (133,752)— 
Shares issued for 2018 Three-Year PSU Awards(47,730)— — 
Shares issued for 2020 Three-Year PSU Awards(13,770)— — 
Restricted stock units awarded for SLO Awards(72,043)(73,731)(46,195)
SLO units forfeited— — 1,580 
Director shares granted and issued(10,160)(20,835)(22,015)
Director units granted and deferred(1)
(16,264)(22,826)(6,262)
Shares withheld for taxes(2)
290,439 279,509 249,368 
Number of shares available, end of year(3)
5,510,599 3,183,310 4,048,509 
 
       
(1)Director units granted and deferred include the impact of share-settled dividends earned and deferred on deferred shares.
(2)The Omnibus Incentive Plan and 2005 Contingent Stock Plan permit withholding of taxes and other charges that may be required by law to be paid attributable to awards by withholding a portion of the shares attributable to such awards.
(3)The above table excludes approximately 1.5 million contingently issuable shares under the PSU awards and SLO awards, which represents the maximum number of shares that could be issued under those awards as of December 31, 2021.
Summarizes the Company's Pre-tax Share-based Incentive Compensation Expense and Income Tax Benefit
The following table summarizes the Company’s pre-tax share-based incentive compensation expense and related income tax benefit for the years ended December 31, 2021, 2020 and 2019 related to the Company’s PSU awards, SLO awards and restricted stock awards.
(In millions)202120202019
2021 Three-year PSU Awards$4.2 $— $— 
2020 Three-year PSU Awards4.5 5.3 — 
2019 Three-year PSU Awards2.2 3.5 4.3 
2018 Three-year PSU Awards— 1.9 0.2 
2017 COO and Chief Executive Officer-Designate New Hire Equity Awards(1)
0.1 0.2 0.2 
SLO Awards2.8 2.2 3.2 
Other long-term share-based incentive compensation programs(2)
32.0 29.2 26.5 
Total share-based incentive compensation expense(3)
$45.8 $42.3 $34.4 
Associated tax benefits recognized$7.5 $7.1 $5.8 
 
(1)    For the year ended December 31, 2020, this amount includes expense associated with award modifications as described under the section titled “Chief Operating Officer (COO) and Chief Executive Officer-Designate 2017 New Hire Equity Awards and 2020 Award Modifications.”
(2)    The amount includes the expenses associated with the restricted stock awards consisting of restricted stock shares, restricted stock units and cash-settled restricted stock unit awards.
(3)    The amounts do not include the expense related to our U.S. profit sharing contributions made in the form of our common stock, as these contributions are not considered share-based incentive compensation.
Schedule of Unvested Restricted Stock and Restricted Stock Unit
The following table summarizes activity for unvested restricted stock and restricted stock units for 2021:
 Restricted stock sharesRestricted stock units
 SharesWeighted-Average per Share Fair Value on Grant DateAggregate
Intrinsic
Value (in millions)		SharesWeighted-Average per Share Fair Value on Grant DateAggregate
Intrinsic
Value (in millions)
Non-vested at December 31, 2020134,048 $44.11  1,478,435 $35.39  
Granted— —  918,973 46.65  
Vested(132,953)44.11 $5.9 (600,376)37.00 $22.2 
Forfeited or expired(1,095)44.30  (115,641)37.27  
Non-vested at December 31, 2021— $—  1,681,391 $40.84  
Schedule of Fair Value of Vested Restricted Stock
A summary of the Company’s fair values of its vested restricted stock shares and restricted stock units are shown in the following table: 
(In millions)202120202019
Fair value of restricted stock shares vested$6.1 $13.2 $23.7 
Fair value of restricted stock units vested$26.4 $15.6 $10.1 
Schedule of Unrecognized Compensation Cost
Unrecognized compensation cost and the weighted average period over which the compensation cost is expected to be recognized for its non-vested restricted stock units are shown in the following table:
(In millions)Unrecognized Compensation CostWeighted Average to be recognized (in years)
Restricted Stock units$44.1 1.1
A summary of the Company’s unrecognized compensation cost for three-year PSU awards at the current estimated earned payout based on the probable outcome of the performance condition and weighted average periods over which the compensation cost is expected to be recognized as shown in the following table: 
(In millions)Unrecognized Compensation CostsWeighted Average to be recognized (in years)
2021 Three-year PSU Awards$6.3 2
2020 Three-year PSU Awards3.3 1
2019 Three-year PSU Awards— 0
Number of Performance Stock Units Granted Based on Relative TSR, Adjusted EBITDA Margin and ROIC The total number of shares to be issued for these awards can range from zero to 200% of the target number of shares.
Relative TSRAdjusted EBITDA MarginROIC
February 13, 2019 grant date
Number of units granted24,914 33,885 33,885 
Fair value on grant date (per unit)$59.15 $42.21 $42.21 
February 14, 2019 grant date
Number of units granted24,905 32,922 32,922 
Fair value on grant date (per unit)$57.34 $42.10 $42.10 
July 11, 2019 grant date
Number of units granted20,724 25,997 25,997 
Fair value on grant date (per unit)$55.82 $43.22 $43.22 
Summary of Assumptions Used to Calculate Grant Date Fair Value
The assumptions used to calculate the grant date fair values for grants based on Relative TSR are shown in the following table:
Expected price volatilityRisk-free interest rate
February 13, 2019 grant date22.80 %2.55 %
February 14, 2019 grant date22.80 %2.51 %
July 11, 2019 grant date23.00 %1.86 %
The assumptions used to calculate the grant date fair values for grants based on Relative TSR are shown in the following table:
Expected price volatilityRisk-free interest rate
February 12, 2020 grant date23.70 %1.40 %
February 13, 2020 grant date23.70 %1.40 %
March 1, 2020 grant date23.70 %0.90 %
The assumptions used to calculate the grant date fair values are shown in the following table:
Expected price volatilityRisk-free interest rate
February 10, 2021 grant date37.70 %0.20 %
February 11, 2021 grant date37.70 %0.20 %
March 1, 2021 grant date38.00 %0.30 %
The assumptions used to calculate the grant date fair value of the performance-vesting award are shown in the following table:
 2020 Performance-Vesting Award
Fair value on grant date$12.67 
Expected price volatility38.5 %
Risk-free interest rate0.2 %
Summary of Estimated Earned Payout
The following table includes additional information related to estimated earned payout based on the probable outcome of the performance conditions and market condition as of December 31, 2021:
 Estimated Payout %
 Return on Invested CapitalAdjusted EBITDA MarginAdjusted EBITDA CAGR
Relative TSR(1)
TSR Modifier(1)
Combined
2021 Three-year PSU Awards100 %N/A100 %N/A25 %125 %
2020 Three-year PSU Awards 119 %N/A175 %200 %N/A165 %
2019 Three-year PSU Awards 195 %— %N/A200 %N/A133 %
(1)    Relative TSR and Relative TSR Modifier are market-based conditions. Accordingly, we make no assumptions related to future performance. The percentages above represent actual rankings as of December 31, 2021. Any portion of outstanding awards based on the achievement of market-based conditions are accrued at 100% of fair value over the performance period in accordance with ASC 718.
Summary of Activity for Outstanding Three-year PSU Awards The following table summarizes activity for outstanding three-year PSU awards for 2021: 
 Shares
Aggregate Intrinsic Value
 (In millions)
Outstanding at December 31, 2020697,087  
Granted(1)
246,746  
Converted(107,398)$4.4 
Forfeited or expired(98,566) 
Outstanding at December 31, 2021737,869  
Fully vested at December 31, 2021264,302 $11.8 
 
       
(1)This represents the target number of performance units granted. Actual number of PSUs earned, if any, is dependent upon performance and may range from 0% to 250% percent of the target.
Summary of Activity for Non-Vested PSUs Awards The total number of shares to be issued for these awards can range from zero to 200% of the target number of shares.
Relative TSRAdjusted EBITDA CAGRROIC
February 12, 2020 grant date
Number of units granted33,335 35,068 35,068 
Fair value on grant date (per unit)$38.87 $35.86 $35.86 
February 13, 2020 grant date
Number of units granted44,206 42,507 42,507 
Fair value on grant date (per unit)$34.08 $34.40 $34.40 
March 1, 2020 grant date
Number of units granted31,064 29,690 29,690 
Fair value on grant date (per unit)$29.85 $30.31 $30.31 
The total number of shares to be issued, including the modifier, for these awards can range from zero to 250% of the target number of shares.
Adjusted EBITDA CAGRROIC
February 10, 2021 grant date
Number of units granted41,729 41,729 
Fair value on grant date (per unit)$45.26 $45.26 
February 11, 2021 grant date
Number of units granted51,882 51,882 
Fair value on grant date (per unit)$43.85 $43.85 
March 1, 2021 grant date
Number of units granted29,762 29,762 
Fair value on grant date (per unit)$43.02 $43.02 
The following table summarizes activity for non-vested three-year PSU awards for 2021:
 SharesWeighted-Average per Share Fair Value on Grant Date
Non-vested at December 31, 2020487,456 $38.97 
Granted246,746 44.22 
Vested(232,002)44.52 
Forfeited or expired(28,633)38.51 
Non-vested at December 31, 2021473,567 $38.85 
Summary of Fair Value for Vested PSU Awards A summary of the Company’s fair value for its vested three-year PSU awards is shown in the following table: 
(In millions)202120202019
Fair value of Three-year PSU awards vested$17.8 $9.6 $10.3