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Stock Transactions And Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2023
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,
202320222021
Common stock - shares issued:
Balance, beginning of period163.7 162.0 160.2 
Issuance of common stock 9.6 1.7 1.8 
Balance, end of period173.3 163.7 162.0 
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:
202320222021
Risk-free interest rate
3.9 – 4.4%
1.9 – 3.1%
1.0 – 1.3%
Weighted average volatility35.2 %33.6 %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):
202320222021
RSUs / PSUs$20.3 $19.3 $15.5 
Options10.4 11.2 12.2 
Total stock-based compensation expense$30.7 $30.5 $27.7 
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, 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 
Granted
0.4 $38.03 
Exercised
(0.6)$18.87 
Cancelled/forfeited
(0.7)$35.19 
Outstanding as of December 31, 20235.6 $26.90 5.4$13.7 
Vested and expected to vest as of December 31, 2023
5.5 $26.76 5.4$13.6 
Vested as of December 31, 2023
3.9 $24.26 4.8$12.8 
Schedule of Options Outstanding
Options outstanding as of December 31, 2023 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
$11.35 to $12.81
0.3 $12.55 1.50.3 $12.55 
$12.82 to $19.49
1.3 $18.45 3.91.3 $18.44 
$19.50 to $26.50
2.2 $24.19 5.41.4 $24.03 
$26.51 to $38.25
1.4 $36.85 7.20.7 $36.16 
$38.26 to $48.52
0.4 $47.91 7.50.2 $47.48 
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, 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 
Granted1.0 $39.93 
Vested(0.6)$30.93 
Forfeited(0.2)$39.44 
Unvested at December 31, 20231.7 $38.56