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Stock-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2023
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,
 2023202220232022
(In millions)
Equity classified awards expense$3.5 $4.0 $5.3 $8.4 
Liability classified awards (credit) expense(1.3)1.0 (0.6)1.4 
Total stock-based compensation expense$2.2 $5.0 $4.7 $9.8 
Schedule of Stock Option Valuation Assumptions
The following table summarizes the assumptions used in the Black-Scholes model for stock options granted during the six months ended June 30, 2023:
Risk-free interest rate4.4 %
Historical volatility70.9 %
Dividend yield2.7 %
Expected years until exercise4.5
Fair value of options granted$37.35
Schedule of Stock Option Activity Stock option balances at June 30, 2023, and activity for the six months ended June 30, 2023 were as follows:
 Number of Shares Under OptionWeighted
Average
Exercise
Price Per Share
Weighted Average
Remaining
Contractual Term
(in Years)
Aggregate
Intrinsic
Value (in Millions)
Outstanding at December 31, 2022539,575 $75.65   
Granted72,291 74.94   
Exercised(69,443)54.90   
Expired(55,879)82.17 
Forfeited(20,375)79.22   
Outstanding at June 30, 2023466,169 77.69 6.2$0.3 
Vested at June 30, 2023 and Expected to Vest449,236 77.84 6.1$0.3 
Exercisable at June 30, 2023325,063 $57.61 5.1$0.3 
Schedule of Restricted Stock Unit Activity
Outstanding balances as of June 30, 2023, and activity related to restricted stock and restricted stock units for the six months ended June 30, 2023 were as follows:
 Shares of Restricted
Stock
Weighted
Average
Grant Date
Fair Value
Stock-Settled Restricted
Stock Units
Weighted
Average
Grant Date
Fair Value
Outstanding at December 31, 2022355,900 $73.57 123,895 $62.11 
Granted201,517 74.16 20,540 74.01 
Released(141,487)75.01 (46,228)63.66 
Forfeited(50,180)73.05 (39,294)77.23 
Outstanding at June 30, 2023365,750 $73.41 58,913 $54.62