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Share Plans (Tables)
12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of Compensation Cost
Total share-based compensation expense for 2023, 2022 and 2021 was as follows:
December 31
In millions202320222021
Restricted stock units$15.0 $14.6 $13.0 
Stock options4.3 3.7 3.4 
Performance share units9.8 6.6 13.4 
Total share-based compensation expense$29.1 $24.9 $29.8 
Stock Option Activity
The following table summarizes stock option activity under all plans for the year ended December 31, 2023:
Shares and intrinsic value in millionsNumber of sharesWeighted-
average
exercise
price
Weighted-
average
remaining
contractual life
(years)
Aggregate
intrinsic
value
Outstanding as of January 1, 20232.3 $45.16 
Granted0.3 47.34 
Exercised(0.3)47.35 
Outstanding as of December 31, 20232.3 $45.07 4.9$63.7 
Options exercisable as of December 31, 20231.7 $42.39 3.7$52.4 
Options expected to vest as of December 31, 20230.6 $53.15 8.3$10.9 
Stock Option Fair Value Assumptions
We estimated the fair value of each stock option award issued in the annual share-based compensation grant using a Black-Scholes option pricing model, modified for dividends and using the following assumptions:
 December 31
 202320222021
Risk-free interest rate4.00 %1.18 %0.37 %
Expected dividend yield2.02 %1.14 %1.56 %
Expected share price volatility30.40 %29.60 %29.60 %
Expected term (years)6.16.46.5
Restricted Stock Activity
The following table summarizes restricted stock unit activity under all plans for the year ended December 31, 2023:
Shares in millionsNumber of
shares
Weighted
average
grant date
fair value
Outstanding as of January 1, 20230.6 $53.10 
Granted0.4 51.48 
Vested(0.4)49.64 
Outstanding as of December 31, 20230.6 $53.88 
Performance Shares Award Outstanding Activity
The following table summarizes performance share unit activity under all plans for the year ended December 31, 2023:
Shares in millionsNumber of
shares
Weighted
average
grant date
fair value
Outstanding as of January 1, 20230.4 $55.45 
Granted0.2 46.34 
Vested(0.2)45.33 
Outstanding as of December 31, 20230.4 $54.06