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Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2019
Share-based Payment Arrangement [Abstract]  
Schedule of Shares Available for Future Grants
The following table summarizes the number of shares available for future grants under our 2011 Plan:
 
 
As of December 31
(in millions)
 
2019
Shares available for future grants
 
2.8
Schedule of Stock-Based Compensation Expense
The following table summarizes our stock-based compensation expense and the related income tax benefit we recorded in the past three years:
 
 
Year ended December 31
(in millions)
 
2019
 
2018
 
2017
Restricted stock units
 
$
20.4

 
$
19.8

 
$
16.5

Performance share awards
 
20.6

 
10.2

 
7.1

Market stock units
 
3.4

 
1.7

 
0.5

Total stock-based compensation expense
 
$
44.4

 
$
31.7

 
$
24.1

 
 
 
 
 
 
 
Income tax benefit related to the stock-based compensation expense
 
$
10.0

 
$
7.0

 
$
7.8
Allocation of Stock-based Compensation Expense
The following table summarizes the stock-based compensation expense included in each of our operating expense categories for the past three years:
 
 
Year ended December 31
(in millions)
 
2019
 
2018
 
2017
Cost of revenue
 
$
12.9

 
$
11.7

 
$
9.6

Sales and marketing
 
5.6

 
3.5

 
3.0

General and administrative
 
25.9

 
16.5

 
11.5

Total stock-based compensation expense
 
$
44.4

 
$
31.7

 
$
24.1
Schedule of Uncategorized Stock-Based Compensation Expense
The following table summarizes the amount of unrecognized stock-based compensation expense as of December 31, 2019 and the expected number of months over which the expense will be recognized:
 
 
Unrecognized stock-based compensation expense (in millions)
 
Weighted average expected amortization period (months)
Restricted stock units
 
$
38.8

 
33
Market stock units
 
6.9

 
26
Total unrecognized stock-based compensation expense
 
$
45.7

 
32
Schedule of Restricted Stock Units Award Activity
The following table summarizes restricted stock unit activity during the past three years:
Restricted Stock Units (RSUs)
 
Unvested
 
Vested but
Deferred
 
Total
 
Weighted
Average
Grant Date Value
per RSU
RSUs Outstanding - December 31, 2016
 
541,245

 
9,748

 
550,993

 
$
75.77

Granted
 
331,470

 
—

 
331,470

 
78.33

Dividend equivalents
 
—

 
78

 
78

 
60.99

Vested
 
(212,005
)
 
—

 
(212,005
)
 
75.38

Issued
 
—

 
(6,547
)
 
(6,547
)
 
49.40

Forfeited
 
(55,831
)
 
—

 
(55,831
)
 
76.49

RSUs Outstanding - December 31, 2017
 
604,879

 
3,279

 
608,158

 
$
77.52

Granted
 
243,614

 
—

 
243,614

 
108.60

Dividend equivalents
 
—

 
16

 
16

 
73.28

Vested
 
(279,774
)
 
—

 
(279,774
)
 
80.68

Issued
 
—

 
(3,295
)
 
(3,295
)
 
73.28

Forfeited
 
(41,254
)
 
—

 
(41,254
)
 
86.47

RSUs Outstanding - December 31, 2018
 
527,465

 
—

 
527,465

 
$
89.53

Granted
 
233,618

 
—

 
233,618

 
135.67

Vested
 
(269,917
)
 
—

 
(269,917
)
 
95.67

Forfeited
 
(31,721
)
 
—

 
(31,721
)
 
100.71

RSUs Outstanding - December 31, 2019
 
459,445

 
—

 
459,445

 
$
108.61
Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Performance-Based Units, Vested and Expected to Vest [Table Text Block]
The table below shows target performance share awards granted and shares that will be issued based on final performance levels for performance share awards granted as of December 31, 2019:
 
 
As of December 31, 2019
Target performance share awards granted
 
132,522

Weighted average fair value per award
 
$
112.16

Number of shares that will be issued based on final 2019 performance levels
 
182,211

Unamortized expense, based on current performance levels (in millions)
 
$
—
Market Units, Valuation Assumptions
We used the following assumptions to estimate the fair value of our MSUs during 2017, 2018, and 2019:
 
 
Assumptions for Monte Carlo Valuation Model
Grant Date
 
Expected volatility
Dividend yield
Risk-free interest rate
May 15, 2017
 
17.4
%
1.20
%
1.49
%
November 15, 2017
 
17.7
%
1.04
%
1.79
%
May 15, 2018
 
17.4
%
0.89
%
2.70
%
November 15, 2018
 
19.6
%
0.83
%
2.92
%
May 15, 2019
 
20.3
%
0.84
%
2.17
%
November 15, 2019
 
21.0
%
0.72
%
1.59
%
Schedule of Market Stocks Units
The table below shows MSUs granted and target market stock units outstanding as of December 31, 2019:
 
 
As of December 31, 2019
MSUs granted
 
124,102

Weighted average fair value per award
 
$
100.51

Number of target MSUs outstanding
 
119,331

Unamortized expense, based on current performance levels (in millions)
 
$
6.9
Schedule of Stock Options, Valuation Assumptions The weighted average fair value of options granted during 2011 was $23.81 per share based on the following assumptions:
Assumptions for Black-Scholes Option Pricing Model
 
 
Expected life (years)
 
7.4

Volatility factor
 
35.1
%
Dividend yield
 
0.35
%
Interest rate
 
2.87
%
Schedule of All Other Option Granted
The following table summarizes stock option activity in the past three years for our various stock option grants:
 
 
2019
 
 
 
2018
 
 
 
2017
 
 
Option Grants
 
Underlying
Shares
 
Weighted
Average
Exercise
Price
 
Underlying
Shares
 
Weighted
Average
Exercise
Price
 
Underlying
Shares
 
Weighted
Average
Exercise
Price
Options outstanding—beginning of year
 
40,685

 
$
57.28

 
41,685

 
$
57.28

 
46,001

 
$
57.28

Granted
 
—

 
—

 
—

 
—

 
—

 
—

Canceled
 
—

 
—

 
—

 
—

 
—

 
—

Exercised
 
(3,416
)
 
57.28

 
(1,000
)
 
57.28

 
(4,316
)
 
57.28

Options outstanding—end of year
 
37,269

 
$
57.28

 
40,685

 
$
57.28

 
41,685

 
$
57.28

 
 
 
 
 
 
 
 
 
 
 
 
 
Options exercisable—end of year
 
37,269

 
$
57.28

 
40,685

 
$
57.28

 
41,685

 
$
57.28
Schedule of Intrinsic Value of Stock Options Exercised During Period
The following table summarizes the total intrinsic value (difference between the market value of our stock on the date of exercise and the exercise price of the option) of options exercised:
(in millions)
 
2019
 
2018
 
2017
Intrinsic value of options exercised
 
$
0.4

 
$
0.1

 
$
0.1
Schedule of Options, Vested and Expected to Vest, Outstanding and Exercisable
The table below shows additional information for options outstanding and exercisable as of December 31, 2019:
 
 
 
Options Outstanding
 
Options Exercisable
Range of Exercise Prices
 
Number of  Options
 
Weighted
Average
Remaining
Contractual
Life (years)
 
Weighted
Average
Exercise
Price
 
Aggregate
Intrinsic
Value
(in millions)
 
Exercisable Shares
 
Weighted Average Remaining Contractual Life (years)
 
Weighted Average Exercise Price
 
Aggregate
Intrinsic
Value
(in millions)
$57.28
 
37,269

 
1.37
 
$
57.28

 
$
3.5

 
37,269

 
1.37
 
$
57.28

 
$
3.5

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Vested or Expected to Vest
 
 
 
 
 
 
 
 
 
 
 
 
 
$57.28
 
37,269

 
1.37
 
$
57.28

 
$
3.5