Share-Based Payment Awards (Tables)

6 Months Ended

Jun. 30, 2020

Share-based Payment Arrangement [Abstract]

Schedule of Fair Value Assumptions of Market-based Awards

The fair value of the Company's market-based awards is estimated using the Company's stock price on the date of grant and the probability of vesting using a Monte Carlo simulation with the following weighted-average assumptions:

	2020 Grants		2019 Grants
Volatility of A&B common stock	22.6	%	23.6	%
Average volatility of peer companies	23.2	%	24.3	%
Risk-free interest rate	1.3	%	2.6	%

Summary of Compensation Cost related to Share-based Payments

The Company recognizes compensation cost net of actual forfeitures of time-based or market-based awards. A summary of compensation cost related to share-based payments is as follows (in millions):

	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
Share-based expense:
Time-based and market-based restricted stock units	$	1.5	$	1.3	$	3.0	$	2.7