Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

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,
	2023		2022		2021
Option awards	$	11.5	$	11.4	$	9.8
Other share-based awards	30.7		39.2		40.9
Total share-based compensation before tax	42.2		50.6		50.7
Tax benefit	10.3		12.0		12.1
Total share-based compensation expense included in net income	$	31.9	$	38.6	$	38.6

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, 2023:

	Omnibus Plan (Active)
	Options Outstanding	Weighted-Average Exercise Price
Balance as of December 31, 2022	3,123,743	$	106.16
Granted	294,359	117.36
Exercised	(483,066)	98.21
Forfeited/Expired	(109,051)	130.67
Balance as of December 31, 2023	2,825,985	$	107.75
Options exercisable as of December 31, 2023	2,238,191	$	105.57

Schedule of weighted average fair value

The following assumptions were used to estimate the weighted-average fair value of options granted of $43.39, $37.41 and $36.77 during the years ended December 31, 2023, 2022 and 2021, respectively:

	For the Years Ended December 31,
	2023	2022	2021
Weighted-average volatility	45%	43%	43%
Expected dividend yield	2.2%	2.2%	2.1%
Expected term (in years)	5.4	4.9	4.7
Weighted-average risk-free interest rate	3.5%	1.7%	0.5%

Schedule of restricted stock activity

The following table summarizes restricted stock activity for the year ended December 31, 2023:

	Shares Outstanding	Weighted-Average Grant Price
Balance as of December 31, 2022	866,018	$	113.40
Granted	382,508	110.39
Vested	(375,098)	98.54
Forfeited/Cancelled	(68,239)	117.73
Balance as of December 31, 2023	805,189	$	118.42
Expected to vest as of December 31, 2023	796,880	$	118.52