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Share-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2019
Share Based Compensation [Abstract]  
Summary of Restricted Stock and Performance Unit Award Activity

The following table presents restricted stock and performance unit award activity for the three months ended March 31, 2019:

 

 

 

Restricted Stock

 

 

Performance Units

 

 

 

Shares

 

 

Weighted Average Grant-

Date Fair Value

 

 

Shares

 

 

Weighted Average Grant-

Date Fair Value

 

Outstanding at January 1, 2019

 

 

743,591

 

 

$

86.90

 

 

 

266,704

 

 

$

90.01

 

Vested

 

 

(699

)

 

 

80.75

 

 

 

 

 

 

 

Forfeitures

 

 

(2,720

)

 

 

91.44

 

 

 

 

 

 

 

Outstanding at March 31, 2019

 

 

740,172

 

 

$

86.89

 

 

 

266,704

 

 

$

90.01

 

Compensation Expense for Share-Based Awards

Our share-based compensation expense is recorded in "Selling, general, and administrative expenses." Compensation expense for share-based awards recognized in the Consolidated Statements of Income, net of forfeitures, was as follows (dollars in millions):

 

 

 

Three Months Ended March 31,

 

 

 

2019

 

 

2018

 

Restricted stock

 

$

4.9

 

 

$

3.9

 

Performance units

 

 

2.0

 

 

 

1.2

 

Total share-based compensation expense

 

 

6.9

 

 

 

5.1

 

Income tax benefit

 

 

(1.7

)

 

 

(1.3

)

Share-based compensation expense, net of tax benefit

 

$

5.2

 

 

$

3.8

 

Unrecognized Compensation Expense for Share-Based Awards

The unrecognized compensation expense for all share-based awards at March 31, 2019 was as follows (dollars in millions):

 

 

 

March 31, 2019

 

 

 

Unrecognized

Compensation

Expense

 

 

Remaining

Weighted

Average

Recognition

Period

(in years)

 

Restricted stock

 

$

26.6

 

 

2.3

 

Performance units

 

 

12.5

 

 

 

2.4

 

Total unrecognized share-based compensation expense

 

$

39.1

 

 

 

2.3