LONG-TERM INCENTIVE EMPLOYEE COMPENSATION

6 Months Ended

Jul. 02, 2022

Share-Based Payment Arrangement [Abstract]

LONG-TERM INCENTIVE EMPLOYEE COMPENSATION

Our long-term incentive plan (LTIP) costs are primarily recorded within general and administrative expenses in our Consolidated Condensed Statements of Operations. The following table summarizes our LTIP costs.


	Three Months Ended				Six Months Ended
	July 2, 2022		July 3, 2021		July 2, 2022		July 3, 2021
Equity-based awards	$	5.0	$	4.2	$	8.7	$	7.4
Liability-based awards	0.1		0.2		0.7		1.1
Total share-based compensation expense	$	5.1	$	4.4	$	9.4	$	8.5

At July 2, 2022, there was $32.4 of total unrecognized compensation cost related to non-vested equity awards. This cost is expected to be recognized ratably over a weighted-average period of 2.0 years. Additionally, unrecognized compensation cost related to liability-based awards was $1.5, which is expected to

be recognized ratably over a weighted-average period of 2.4 years.

Year-to-Date 2022 LTIP Activity

The majority of our LTIP awards are granted during the first quarter of each year and have three-year service periods. These awards either vest equally each year or at the completion of the three-year service period. During the six months ended July 2, 2022, we granted the following LTIP awards as provided in the table below:


	# of Awards Granted	Weighted Average Grant Date Fair Value Per Share

Restricted stock units (RSUs)	0.2		$	78.54
Performance stock units (PSUs)	0.1		$	79.72

During the six months ended July 2, 2022 and July 3, 2021, a nominal amount of non-qualified stock options were exercised resulting in proceeds of $0.7 and $0.5, respectively. During the six months ended July 2, 2022 and July 3, 2021, RSUs of 0.1 and 0.1, respectively, vested and were issued. During the six months ended July 2, 2022 and July 3, 2021, PSUs of 0.1 and 0.2 that vested on December 31, 2021 and 2020, respectively, were issued.