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Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2024
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 March 31,
 20242023
(In millions)
Equity classified awards expense$5.0 $1.8 
Liability classified awards expense
0.6 0.7 
Total stock-based compensation expense$5.6 $2.5 
Schedule of Stock Option Valuation Assumptions
The following table summarizes the assumptions used in the Black-Scholes model for stock options granted during the three months ended March 31, 2024:
Risk-free interest rate4.3 %
Historical volatility70.2 %
Dividend yield4.2 %
Expected years until exercise4.5
Fair value of options granted$22.26
Schedule of Stock Option Activity Stock option balances at March 31, 2024, and activity for the three months ended March 31, 2024 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, 2023
462,506 $77.59   
Granted133,729 49.06   
Exercised— —   
Expired(13,366)92.47 
Forfeited— —   
Outstanding at March 31, 2024
582,869 70.70 6.7$— 
Vested and Expected to Vest at March 31, 2024
552,055 71.54 6.5$— 
Exercisable at March 31, 2024
377,446 $77.78 5.2$— 
Schedule of Restricted Stock Unit Activity
Outstanding balances as of March 31, 2024, and activity related to restricted stock and restricted stock units for the three months ended March 31, 2024 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, 2023338,622 $73.33 58,475 $54.07 
Granted277,117 49.05 29,473 49.06 
Released(130,347)74.85 (16,789)75.01 
Forfeited(7,917)70.09 — — 
Outstanding at March 31, 2024477,475 $58.88 71,159 $47.10