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Share-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2018
Share-based Compensation [Abstract]  
Schedule of compensation expense under stock based compensation plan
The compensation expense under the Plan is as follows: 
 
Year Ended December 31,
(In millions)
2018
 
2017
 
2016
Share-based compensation expense (1)
$
49.1

 
$
44.4

 
$
22.0

Income tax benefits related to share-based compensation expense
$
13.2

 
$
12.0

 
$
5.9
Schedule of unrecognized compensation cost, nonvested awards
As of December 31, 2018, the portion of share-based compensation expense related to outstanding awards to be recognized in future periods is as follows:
 
December 31, 2018
Share-based compensation expense not yet recognized (in millions)
$
83.4

Weighted-average recognition period (in years)
1.7
Summary of changes in nonvested stock awards
A summary of the nonvested restricted share units activity is as follows:
(Shares in thousands)
Shares
 
Weighted-Average 
Grant Date 
Fair Value
Nonvested at December 31, 2017
1,722.3

 
$
28.53

Granted
1,516.0

 
$
31.57

Vested
(165.4
)
 
$
28.94

Cancelled/forfeited
(95.5
)
 
$
27.85

Nonvested at December 31, 2018
2,977.4

 
$
30.10
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Method Used
The weighted-average fair value and the assumptions used to measure the fair value of performance share units subject to performance-adjusted vesting conditions in the Monte Carlo simulation model were as follows:
 
Year Ended December 31,
 
2018
 
2017
 
2016
Weighted-average fair value (a)
$41.97
 
$34.42
 
$22.47
Expected volatility (b)
34.00
%
 
34.87
%
 
31.30
%
Risk-free interest rate (c)
2.37
%
 
1.50
%
 
0.85
%
Expected performance period in years (d)
3.0

 
3.0

 
2.8

(a) The weighted-average fair value was based on performance share units granted during the period.
(b) Expected volatility is based on normalized historical volatility of our shares over a preceding period commensurate with the expected term of the option.
(c) From 2017, the risk-free rate for the expected term of the option is based on the U.S. Treasury yield curve in effect at the time of grant. Prior to 2017, the risk free rate was based on the bond yields from the European Central Bank.
(d) For awards subject to service-based vesting, due to the lack of historical exercise and post-vesting termination patterns of the post-Merger employee base, the expected term was estimated using a simplified method for all awards granted in 2018 and 2017 and the expected term was estimated using historical exercise and post-vesting termination patterns for all awards granted in 2016.
Schedule of Nonvested Performance-based Units Activity [Table Text Block]
A summary of the nonvested performance share unit activity is as follows:
(Shares in thousands)
Shares
 
Weighted-Average 
Grant Date 
Fair Value
Nonvested at December 31, 2017
2,748.8

 
$
25.59

Granted
623.0

 
$
36.06

Vested
(203.6
)
 
$
34.55

Cancelled/forfeited
(124.4
)
 
$
28.45

Nonvested at December 31, 2018
3,043.8

 
$
27.02
Schedule of weighted average assumptions
The weighted-average fair value and the assumptions used to measure fair value are as follows:
 
Year Ended December 31,
 
2018
 
2017
 
2016
Weighted-average fair value (a)
$
9.07

 
$
8.79

 
€
7.7

Expected volatility (b)
32.5
%
 
35.7
%
 
34.5
%
Risk-free interest rate (c)
2.7
%
 
2.1
%
 
—
%
Expected dividend yield (d)
2.0
%
 
2.0
%
 
2.0%-4.5%

Expected term in years (e)
6.5

 
6.5

 
4.2

(a)
The weighted-average fair value was based on stock options granted during the period.
(b)
Expected volatility is based on normalized historical volatility of our shares over a preceding period commensurate with the expected term of the option.
(c)
From 2017, the risk-free rate for the expected term of the option is based on the U.S. Treasury yield curve in effect at the time of grant. Prior to 2017, the risk free rate was based on the bond yields from the European Central Bank.
(d)
Share options awarded prior to 2017 were valued using an expected dividend yield of between 2.0% and 4.5% while those awarded in 2017 and 2018 used 2.0%.
(e)
For awards subject to service-based vesting, due to the lack of historical exercise and post-vesting termination patterns of the post-Merger employee base, the expected term was estimated using a simplified method for all awards granted in 2018 and 2017 and the expected term was estimated using historical exercise and post-vesting termination patterns for all awards granted in 2016.
Summary of option transactions
The following is a summary of option transactions during years ended December 31, 2018, 2017 and 2016:
(Shares in thousands)
Number of shares
 
Weighted average exercise price
 
Weighted average remaining life
(in years)
Balance as of December 31, 2015
2,420.5

 
€
61.88

 
3.5
Granted
595.1

 
€
48.33

 

Exercised
(25.5
)
 
€
57.22

 

Cancelled
(801.3
)
 
€
52.43

 

Balance as of December 31, 2016
2,188.8

 
€
61.72

 
5.0
Adjustment due to FMC Technologies transaction (a)
2,188.8

 
$
—

 
 
Granted
798.4

 
$
29.29

 

Exercised
—

 
$
—

 

Cancelled
(292.2
)
 
$
47.60

 

Balance as of December 31, 2017
4,883.8

 
$
36.35

 
4.6
Granted
602.2

 
$
30.70

 
 
Exercised
—

 
$
—

 
 
Cancelled
(827.6
)
 
$
47.20

 
 
Balance as of December 31, 2018
4,658.4

 
$
33.68

 
4.8
Exercisable at December 31, 2018
1,114.9

 
$
52.37

 
1.3
(a)
The Weighted-Average Grant Date Fair Value for the increase in shares due to the merger remains at $0.00 in order to recalculate the new weighted average for the December 31, 2016 nonvested shares (see Note 2).
Summary of additional information concerning outstanding and exercisable options
The following summarizes significant ranges of outstanding and exercisable options at December 31, 2018:
 
Options Outstanding
 
Options Exercisable
Exercise Price Range
Number of options
(in thousands)
 
Weighted average remaining life (in years)
 
Weighted average exercise price
 
Number of options
(in thousands)
 
Weighted average exercise price
$24.00-$33.00
3,543.5

 
5.9
 
$
27.80

 
—

 
$
—

$45.00-$51.00
570.0

 
0.4
 
$
48.12

 
570.0

 
$
48.12

$55.00-$57.00
544.9

 
2.2
 
$
56.82

 
544.9

 
$
56.82

Total
4,658.4

 
4.8
 
$
33.67

 
1,114.9

 
$
52.37