Stock-Based Compensation Plans

9 Months Ended

Sep. 30, 2021

Share-based Payment Arrangement, Noncash Expense [Abstract]

Schedule of Stock Based Compensation Expense

Stock-based compensation expense consists of the following:

(In millions)	For the Three Months Ended  September 30,				For the Nine Months Ended  September 30,
	2021		2020		2021		2020
Stock options	$	14.7	$	—	$	14.7	$	—
Restricted stock	0.1		0.4		(7.8)		1.5
Restricted stock units	0.4		1.1		(1.5)		3.2
Total	$	15.2	$	1.5	$	5.4	$	4.7

During the third quarter of 2021, we recognized $14.7 million in stock-based compensation expense for stock options granted under our Amended and Restated Incentive Compensation Plan, which was approved by shareholders in July 2021. During the second quarter of 2021, we recognized an $11.5 million reversal of stock-based compensation expense due to the forfeiture of unvested restricted stock and restricted stock units upon the retirement of our former Chief Executive Officer in May 2021.

Summary of Restricted Stock Activity

A summary of the non-vested restricted stock activity is presented below:

Restricted Stock	Number of Shares	Weighted Average Grant-Date Fair Value Per Share
Non-vested as of December 31, 2020	122,718	$	117.88
Vested	(12,130)	177.77
Forfeited	(109,054)	106.67
Non-vested as of September 30, 2021	1,534	$	441.54

Summary Of Restricted Stock Units Activity

A summary of the restricted stock unit activity is presented below:

Restricted Stock Units	Number of Restricted Stock Units	Weighted Average Grant-Date Fair Value Per Share
Outstanding as of December 31, 2020	412,602	$	138.65
Granted	7,302	366.07
Converted	(11,416)	190.32
Forfeited	(31,418)	110.33
Outstanding as of September 30, 2021	377,070	$	143.85

Schedule of Future Share-Based Compensation Cost

We expect to recognize the future expense of the stock options as follows:

(in millions)
Year	Total Projected Expense of Stock Options
Remainder of 2021	$	18.9
2022	36.9
2023	36.3
2024	36.3
2025	2.2
Total	$	130.6