Stock-Based Compensation (Tables)

3 Months Ended

Jun. 30, 2020

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 (Loss) Income:

	Three months ended June 30,				Six months ended June 30,
	2020		2019		2020		2019
	(In millions)
Total stock-based compensation expense:
Equity classified awards expense	$	2.6	$	1.8	$	6.7	$	5.9
Liability classified awards expense (credit)	0.1		1.4		(0.5)		2.4
Total pre-tax stock-based compensation expense	2.7		3.2		6.2		8.3
Book income tax benefit	(0.7)		(0.9)		(1.6)		(2.2)
Total stock-based compensation expense, net of tax	$	2.0	$	2.3	$	4.6	$	6.1

Schedule of stock option valuation assumptions

The following summarizes the assumptions used in the Black-Scholes model:

Risk-free interest rate	1.2	%
Weighted average historical volatility	30.5	%
Dividend yield	3.5	%
Expected years until exercise	4.6
Weighted average fair value of options granted	$17.53

Schedule of stock option activity

Stock option balances at June 30, 2020, and activity for the six months ended June 30, 2020 were as follows:

	Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in Years)	Aggregate Intrinsic Value (in Millions)
Outstanding at December 31, 2019	1,217,438	$	66.43
Granted	167,969	87.17
Exercised	(270,024)	76.01
Expired	(48,119)	112.58
Forfeited	(30,106)	85.14
Outstanding at June 30, 2020	1,037,158	64.61		7.1	$	—
Vested at June 30, 2020 and Expected to Vest	980,893	64.41		7.0	$	—
Exercisable at June 30, 2020	559,407	$	59.79	8.0	$	—

Schedule of restricted stock unit activity

Outstanding balances as of June 30, 2020, and activity related to restricted stock and restricted stock units for the six months ended June 30, 2020 were as follows:

	Restricted Stock	Weighted Average Grant Date Fair Value		Stock-Settled Restricted Stock Units	Weighted Average Grant Date Fair Value
Outstanding at December 31, 2019	224,515	$	70.52	357,807	$	30.35
Granted	110,583	79.32		27,893	87.17
Released	(74,826)	57.38		(30,032)	64.76
Forfeited	(23,675)	83.45		—	—
Outstanding at June 30, 2020	236,597	$	78.16	355,668	$	28.19

Disclosure of Share-based Compensation Arrangements by Share-based Payment Award

The Company has granted cash-settled restricted stock units to certain employees. These instruments are recorded as liabilities at fair value as of the respective period end.

	Cash-Settled Restricted Stock Units
Outstanding at December 31, 2019	63,852
Granted	2,658
Forfeited	(10,085)
Outstanding at June 30, 2020	56,425