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Incentive Plan (Tables)

3 Months Ended

Mar. 31, 2019

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Below is a summary of our compensation expense for the three months ended March 31, 2019 and 2018 and our unearned compensation as of March 31, 2019 and December 31, 2018 (in millions):



	Deferred Compensation								Unearned Compensation				Expected period to recognize unearned compensation (in years)
	Expensed				Capitalized				As of March 31, 2019		As of December 31, 2018
	Three Months Ended March 31,
Type of incentive award	2019		2018		2019		2018
Long-term incentive units	$	1.4	$	0.9	$	—	$	0.2	$	21.9	$	11.5	2.9
Market performance-based awards	3.1		3.1		0.2		0.3		40.7		24.8		2.6
Restricted stock	2.6		1.5		0.6		1.1		39.8		23.6		3.2

Summary of Long-Term Incentive Unit Activity

Below is a summary of our long-term incentive unit activity for the three months ended March 31, 2019.



Unvested Long-term Incentive Units	Units		Weighted-Average Grant Date Fair Value
Unvested, beginning of period	158,486		$	100.94
Granted	105,135		116.07
Vested	(50,201	)	81.47
Unvested, end of period	213,420		$	98.10

Market Performance Based Awards

In the event that the RMS Relative Market Performance during the Market Performance Period is achieved at the “threshold,” “target” or “high” level as set forth below, the awards will become vested as to the market condition with respect to the percentage of Class D units or RSUs, as applicable, set forth below:



Level	RMS Relative Market Performance	Market Performance Vesting Percentage
Below Threshold Level	≤ -300 basis points	0%
Threshold Level	-300 basis points	25%
Target Level	100 basis points	50%
High Level	> 500 basis points	100%

Schedule Of Valuation Assumptions

Assumptions used in the valuations are summarized as follows:



Award Date	Expected Stock Price Volatility	Risk-Free Interest rate
January 1, 2018	22%	1.98%
March 1, 2018	22%	2.34%
March 9, 2018	22%	2.42%
January 1, 2019	23%	2.44%
February 21, 2019	23%	2.48%

Summary of Restricted Stock Activity

Below is a summary of our restricted stock activity for the three months ended March 31, 2019.



Unvested Restricted Stock	Shares		Weighted-Average Grant Date Fair Value
Unvested, beginning of period	295,501		$	97.49
Granted	195,171		114.38
Vested	(94,388	)	92.00
Cancelled or expired	(3,724	)	105.88
Unvested, end of period	392,560		$	109.07

- Definition

Tabular disclosure of an equity-based arrangement (such as stock or unit options and stock or unit awards) with an individual employee, which is generally an employment contract between the entity and a selected officer or key employee containing a promise by the employer to pay certain equity-based awards at future dates, sometimes including a period after retirement, upon compliance with stipulated requirements. This type of arrangement is distinguished from broader based employee benefit plans as it is usually tailored to the employee. Disclosure also typically includes the amount of related compensation expense recognized during the reporting period, the number of shares or units issued during the period under such arrangements, and the carrying amount as of the balance sheet date of the related liability.

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