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Stock-Based Compensation Plans (Tables)
 12 Months Ended
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock-based Compensation Expense
Stock-based compensation expense for the years ended December 31, 2022, 2021 and 2020 are included in “Cost of sales” and “Selling and administrative expenses” in the Consolidated Statements of Operations and are as follows.
202220212020
Stock-based compensation expense recognized in:
Continuing operations$78.9 $87.2 $47.5 
Discontinued operations— 10.9 3.8 
Total stock-based compensation expense$78.9 $98.1 $51.3 
Schedule of Stock Option Activity
A summary of the Company’s stock option (including SARs) activity for the year ended December 31, 2022 is presented in the following table (underlying shares in thousands).
SharesWeighted-Average Exercise Price
(per share)		Wtd. Avg. Remaining Contractual Term (years)Aggregate Intrinsic Value of In-The-Money Options
(in millions)
Outstanding at December 31, 20216,746 $21.76 
Granted
754 53.09 
Exercised or Settled(947)20.36 
Forfeited
(162)38.51 
Expired
(8)41.19 
Outstanding at December 31, 20226,383 25.22 5.1$173.2 
Vested at December 31, 20224,444 18.39 3.9$150.5 
Schedule of Fair Value Assumptions
The following assumptions were used to estimate the fair value of options granted during the years ended December 31, 2022, 2021 and 2020.
202220212020
Expected life of options (in years)6.36.36.3
Risk-free interest rate
1.9% - 3.9%
0.9% - 1.3%
0.4% - 1.5%
Assumed volatility
37.1% - 38.3%
38.6% - 39.4%
24.6% - 41.1%
Expected dividend rate
0.1% - 0.2%
0.0% - 0.1%
0.0 %
The following assumptions were used to estimate the fair value of performance share units granted during the year ended December 31, 2022, 2021 and 2020 using the Monte Carlo simulation pricing model.
202220212020
Expected term (in years)
2.9 - 5.0
2.92.8
Risk-free interest rate
1.7% - 3.4%
0.2 %0.5 %
Assumed volatility
35.0% - 36.4%
36.9 %35.2 %
Expected dividend rate0.2 %0.0 %0.0 %
Schedule of Restricted Stock Unit Activity
A summary of the Company’s restricted stock unit activity for the year ended December 31, 2022 is presented in the following table (underlying shares in thousands).
SharesWeighted-Average Grant-Date Fair Value
Non-vested as of December 31, 20212,677 $34.08 
Granted556 52.36 
Vested(2,031)34.09 
Forfeited(197)37.65 
Non-vested as of December 31, 20221,005 43.50 
Schedule of Performance Stock Unit Activity
A summary of the Company’s performance stock unit activity for the year ended December 31, 2022 is presented in the following table (underlying shares in thousands).
SharesWeighted-Average Grant-Date Fair Value
Non-vested as of December 31, 2021393 $39.89 
Granted1,175 46.56 
Vested— — 
Forfeited(29)39.61 
Non-vested as of December 31, 20221,539 44.99