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STOCK-BASED COMPENSATION (Tables)
 3 Months Ended
Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Stock-based compensation expense Stock-based compensation expense was as follows:
 Three Months Ended March 31,
 20242023
Stock Compensation Expense($ in millions)
Stock-based compensation$5.6 $4.5 
Mark-to-market adjustments2.2 1.5 
Total expense$7.8 $6.0 
Schedule of fair value of stock options granted valuation assumptions
The fair value of each stock option granted, which typically vests ratably over three years, but not less than one year, was estimated on the date of grant, using the Black-Scholes option-pricing model with the following weighted-average assumptions:
Grant Date Assumptions - Stock Options20242023
Dividend yield1.50 %1.32 %
Risk-free interest rate4.35 %4.07 %
Expected volatility of Olin common stock47 %47 %
Expected life (years)7.07.0
Weighted-average grant fair value (per option)$24.79$28.74
Weighted-average exercise price$53.43$60.55
Stock options granted 601,157562,124
Schedule of fair value of performance share awards granted valuation assumptions The fair value of each performance share award based on TSR was estimated on the date of grant, using a Monte Carlo simulation model with the following weighted average assumptions:
Grant Date Assumptions - Performance Shares20242023
Risk-free interest rate4.53 %4.46 %
Expected volatility of Olin common stock41 %52 %
Expected average volatility of peer companies37 %42 %
Average correlation coefficient of peer companies0.400.51
Expected life (years)3.03.0
Grant date fair value (TSR-based award)$72.80$86.98
Grant date fair value (net income-based award)$54.07$60.55
Performance share awards granted180,714161,474