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Stock-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]  
Summary of Nonvested Restricted Stock Units and Changes During the Period

Nonvested restricted stock units as of June 30, 2023, and changes during the six months ended June 30, 2023 (unaudited) were as follows:

 

 

Shares

 

 

Weighted Average Grant-Date Fair Value

 

Nonvested as of December 31, 2022

 

 

338,448

 

 

$

33.28

 

Granted

 

 

126,931

 

 

 

34.57

 

Vested

 

 

(8,426

)

 

 

35.95

 

Nonvested as of June 30, 2023

 

 

456,953

 

 

$

33.62

 

 

Schedule of Stock-Based Compensation Expense

The Company's stock-based compensation expense related to the restricted stock units during the three and six months ended June 30, 2023 and 2022 (unaudited), which was included in General and administrative expenses within the Condensed Consolidated Statements of Income, was as follows:

 

 

Three Months Ended

 

Six Months Ended

 

(millions)

 

June 30, 2023

 

 

June 30, 2022

 

June 30, 2023

 

 

June 30, 2022

 

Stock-based compensation expense

 

$

1.4

 

 

$

1.5

 

$

2.5

 

 

$

2.8

 

The Company's stock-based compensation expense related to PSUs during the three and six months ended June 30, 2023 and 2022 (unaudited), which was included in General and administrative expenses within the Condensed Consolidated Statements of Income, was as follows:

 

 

Three Months Ended

 

Six Months Ended

 

(millions)

 

June 30, 2023

 

 

June 30, 2022

 

June 30, 2023

 

 

June 30, 2022

 

Stock-based compensation expense

 

$

1.2

 

 

$

0.7

 

$

2.3

 

 

$

1.2

 

Summary of Nonvested PSU's and Changes During the Period

Nonvested PSUs as of June 30, 2023, and changes during the six months ended June 30, 2023 (unaudited), were as follows:

 

 

Shares

 

 

Weighted Average Grant-Date Fair Value

 

Nonvested as of December 31, 2022

 

 

177,605

 

 

$

31.94

 

Granted

 

 

126,921

 

 

 

34.57

 

Nonvested as of June 30, 2023

 

 

304,526

 

 

$

33.04