Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Schedule of share-based compensation expenses

Total share-based compensation expenses were as follows (in millions):

	For the Years Ended December 31,
	2021		2020		2019
Option awards	$	9.8	$	13.8	$	21.8
Other share-based awards	40.9		40.9		48.0
Total share-based compensation before tax	50.7		54.7		69.8
Tax benefit	12.1		13.1		16.6
Total share-based compensation expense included in net income	$	38.6	$	41.6	$	53.2

Schedule of stock option activity

The following summarizes stock option activity and the weighted average exercise price for the Omnibus Plan for the year ended December 31, 2021:

	Omnibus Plan (Active)
	Options Outstanding	Weighted Average Exercise Price
Balance as of December 31, 2020	5,102,296	$	98.70
Granted	289,720	120.59
Exercised	(1,758,283)	86.69
Forfeited/Expired	(354,032)	124.46
Balance as of December 31, 2021	3,279,701	$	104.29
Options exercisable as of December 31, 2021	2,379,543	$	106.11

Schedule of weighted average fair value

The following assumptions were used to estimate the weighted average fair value of options of $36.77, $21.76 and $19.54 granted during the years ended December 31, 2021, 2020 and 2019, respectively:

	For the Years Ended December 31,
	2021	2020	2019
Weighted-average volatility	43%	34%	32%
Expected dividend yield	2.1%	2.6%	2.9%
Expected term (in years)	4.7	4.5	4.5
Weighted average risk free interest rate	0.5%	1.4%	2.5%

Schedule of restricted stock activity

The following table summarizes restricted stock activity for the year ended December 31, 2021:

	Shares Outstanding	Weighted Average Grant Price
Balance as of December 31, 2020	1,143,076	$	98.20
Granted	397,987	122.08
Vested	(367,820)	113.63
Forfeited/Cancelled	(109,490)	98.96
Balance as of December 31, 2021	1,063,753	$	101.72
Expected to vest as of December 31, 2021	1,095,667	$	101.47