Stock Based Compensation

3 Months Ended

Mar. 31, 2023

Note 11—Stock Based Compensation

Stock options, SARs, PSUs and RSUs

The amount of stock-based compensation expense recognized in our Condensed Consolidated Statements of Comprehensive Income for the three months ended March 31, 2023 and 2022 was as follows (in millions):


	Three Months Ended March 31,
Condensed Consolidated Statements of Comprehensive Income Classification	2023		2022
Cost of software-enabled services	$	15.5	$	15.1
Cost of license, maintenance and other related		1.8		0.9
Total cost of revenues		17.3		16.0
Selling and marketing		7.9		8.1
Research and development		5.4		5.1
General and administrative		11.3		10.7
Total operating expenses		24.6		23.9
Total stock-based compensation expense	$	41.9	$	39.9

The following table summarizes stock option and stock appreciation rights (“SARs”) activity, as well as performance stock units (“PSUs”) and restricted stock units (“RSUs”) activity, for the three months ended March 31, 2023 (shares in millions):


	Stock Options and SARs			PSUs and RSUs
Outstanding at December 31, 2022		43.6			3.4
Granted		0.5			1.2
Cancelled/forfeited		(0.3	)		(0.1	)
Exercised		(0.4	)		—
Outstanding at March 31, 2023		43.4			4.5