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Stock Based Compensation
 6 Months Ended
Jun. 30, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock Based Compensation Stock Based Compensation
Under the Assurant, Inc. 2017 Long-Term Equity Incentive Plan (“ALTEIP”), as amended in May 2019, the Company is authorized to issue up to 1,588,797 new shares of the Company’s common stock to employees, officers and non-employee directors. Under the ALTEIP, the Company may grant awards based on shares of its common stock, including stock options, stock appreciation rights (“SARs”), restricted stock (including performance shares), unrestricted stock, restricted stock units (“RSUs”), performance share units (“PSUs”) and dividend equivalents. All share-based grants are awarded under the ALTEIP.
Restricted Stock Units
The following table shows a summary of RSU activity during the three and six months ended June 30, 2019 and 2018:
 
Three Months Ended 
 June 30,
 
Six Months Ended 
 June 30,
 
2019
 
2018
 
2019
 
2018
RSU compensation expense
$
7.4

 
$
8.7

 
$
14.4

 
$
13.8

Income tax benefit
(1.4
)
 
(1.5
)
 
(2.7
)
 
(2.3
)
RSU compensation expense, net of tax
$
6.0

 
$
7.2

 
$
11.7

 
$
11.5

RSUs granted
31,554

 
32,330

 
225,396

 
421,829

Weighted average grant date fair value per unit
$
96.18

 
$
89.56

 
$
97.56

 
$
90.64

Total fair value of vested RSUs
$
5.0

 
$
2.6

 
$
26.8

 
$
18.8


As of June 30, 2019, there was $31.2 million of unrecognized compensation cost related to outstanding RSUs. That cost is expected to be recognized over a weighted-average period of 1.3 years.
Performance Share Units
The following table shows a summary of PSU activity during the three and six months ended June 30, 2019 and 2018:
 
Three Months Ended 
 June 30,
 
Six Months Ended 
 June 30,
 
2019
 
2018
 
2019
 
2018
PSU compensation expense
$
6.6

 
$
3.1

 
$
10.8

 
$
7.3

Income tax benefit
(0.9
)
 
(0.4
)
 
(1.5
)
 
(1.3
)
PSU compensation expense, net of tax
$
5.7

 
$
2.7

 
$
9.3

 
$
6.0

PSUs granted
—

 
—

 
246,219

 
—

Weighted average grant date fair value per unit
$
—

 
$
—

 
$
105.23

 
$
—

Total fair value of vested PSUs
$
—

 
$
25.6

 
$
17.7

 
$
25.6


As of March 31, 2019, there was $38.2 million of unrecognized compensation cost related to outstanding PSUs. That cost is expected to be recognized over a weighted-average period of 1.3 years. 
The fair value of PSUs with market conditions was estimated as of the date of grant using a Monte Carlo simulation model, which utilizes multiple variables that determine the probability of satisfying the market condition stipulated in the award. Expected volatilities for awards issued during the six months ended June 30, 2019 and 2018 were based on the historical stock prices of the Company’s stock and peer group. The expected term for grants issued during the six months ended June 30, 2019 and 2018 was assumed to equal the average of the vesting period of the PSUs. The risk-free rate was based on the U.S. Treasury yield curve in effect at the time of grant.