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Stock-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2021
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 June 30,Six months ended June 30,
 2021202020212020
Total stock-based compensation expense:(In millions)
Equity classified awards expense
$2.5 $2.6 $5.6 $6.7 
Liability classified awards expense (credit)0.5 0.1 2.0 (0.5)
Total pre-tax stock-based compensation expense3.0 2.7 7.6 6.2 
Book income tax benefit(0.8)(0.7)(1.9)(1.6)
Total stock-based compensation expense, net of tax$2.2 $2.0 $5.7 $4.6 
Schedule of Stock Option Valuation Assumptions The following summarizes the weighted average assumptions used in the Black-Scholes model:
Risk-free interest rate0.5 %
Historical volatility67.7 %
Dividend yield— %
Expected years until exercise4.5
Fair value of options granted$40.25
Schedule of Stock Option Activity Stock option balances at June 30, 2021, and activity for the six months ended June 30, 2021 were as follows:
 SharesWeighted
Average
Exercise
Price
Weighted Average
Remaining
Contractual Term
(in Years)
Aggregate
Intrinsic
Value (in Millions)
Outstanding at December 31, 20201,014,670 $64.16   
Granted95,891 75.28   
Exercised(474,686)47.96   
Expired(24,540)98.26 
Forfeited(56,582)88.34   
Outstanding at June 30, 2021554,753 75.97 6.4$8.3 
Vested at June 30, 2021 and Expected to Vest533,000 75.81 6.3$8.1 
Exercisable at June 30, 2021372,922 $72.86 5.1$6.9 
Schedule of Restricted Stock Unit Activity
Outstanding balances as of June 30, 2021, and activity related to restricted stock and restricted stock units for the six months ended June 30, 2021 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, 2020254,331 $76.50 355,570 $28.01 
Granted127,041 83.73 68,578 62.92 
Released(46,223)67.14 (314,713)22.84 
Forfeited(40,105)83.34 — — 
Outstanding at June 30, 2021295,044 $80.15 109,435 $64.76 
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, 202052,956 
Released(38,916)
Forfeited(740)
Outstanding at June 30, 202113,300