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Stock Transactions And Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]  
Summary of Share Activity
The following table summarizes the Company’s stock activity (shares in millions):
Year Ended December 31,
202220212020
Common stock - shares issued:
Balance, beginning of period162.0 160.2 158.7 
Issuance of common stock 1.7 1.8 1.5 
Balance, end of period163.7 162.0 160.2 
Summary of Assumption Used in the Black-Scholes Value Options Granted
The following summarizes the assumptions used in the Black-Scholes model to value Options granted during the years ended December 31:
202220212020
Risk-free interest rate
1.9 – 3.1%
1.0 – 1.3%
0.4 – 1.2%
Weighted average volatility33.6 %25.3 %25.3 %
Dividend yield— %— %— %
Expected years until exercise
6.0
6.0
6.0
Components Of Stock-Based Compensation Program
The following summarizes the components of the Company’s stock-based compensation expense for the years ended December 31 ($ in millions):
202220212020
RSUs / PSUs$19.3 $15.5 $13.3 
Options11.2 12.2 8.9 
Total stock-based compensation expense$30.5 $27.7 $22.2 
Schedule of Option Activity
The following summarizes the Company’s Option activity (in millions; except price per share and numbers of years):
Number of Stock Options
Weighted
Average
Exercise Price
Weighted Average
Remaining
Contractual Term
(in years)
Aggregate
Intrinsic
Value
Outstanding as of December 31, 20198.0 $17.81 
Granted
2.2 $26.14 
Exercised
(1.0)$14.01 
Cancelled/forfeited
(1.1)$21.17 
Outstanding as of December 31, 20208.1 $20.08 
Granted
1.7 $38.15 
Exercised
(1.3)$15.74 
Cancelled/forfeited
(0.6)$26.74 
Outstanding as of December 31, 20217.9 $24.16 
Granted
0.5 $48.23 
Exercised
(1.2)$18.61 
Cancelled/forfeited
(0.7)$30.29 
Outstanding as of December 31, 20226.5 $26.24 6.3$59.7 
Vested and expected to vest as of December 31, 2022
6.3 $26.09 6.3$58.8 
Vested as of December 31, 2022
3.2 $22.01 5.4$39.3 
Schedule of Options Outstanding
Options outstanding as of December 31, 2022 are summarized below (in millions; except price per share and numbers of years):
OutstandingExercisable
Exercise PriceNumber of Stock OptionsAverage
Exercise Price
Average
Remaining
Life
(in years)
Number of Stock OptionsAverage
Exercise Price
$9.74 to 12.65
0.4 $12.00 2.40.4 $12.00 
$12.66 to 19.22
1.6 $17.95 4.81.3 $17.66 
$19.23 to 26.50
2.7 $24.15 6.51.0 $24.10 
$26.51 to $41.95
1.4 $36.74 7.90.5 $35.85 
$41.96 to 48.52
0.4 $48.01 8.9— $43.30 
Summary Information of Unvested RSUs and PSUs Activity
The following summarizes information on unvested RSU and PSU activity related to the Company’s employees and non-employee directors (in millions; except weighted average grant-date fair value):
Number of
RSUs/PSUs
Weighted Average
Grant-Date Fair Value
Unvested at December 31, 20192.1 $19.60 
Granted0.7 $25.76 
Vested(0.5)$17.87 
Forfeited(0.4)$20.98 
Unvested at December 31, 20201.9 $22.01 
Granted0.5 $38.76 
Vested(0.5)$20.34 
Forfeited(0.2)$26.54 
Unvested at December 31, 20211.7 $26.82 
Granted0.6 $47.80 
Vested(0.5)$24.85 
Forfeited(0.3)$33.62 
Unvested at December 31, 20221.5 $34.85