Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2020

Share-based Payment Arrangement [Abstract]

Components of the Company’s stock-based compensation expense

The following table summarizes the components of stock-based compensation expense included in general and administrative expenses in the Consolidated Statements of Comprehensive Income:

		Three months ended March 31,
		2020			2019
	(In millions)
Total stock-based compensation expense:
Equity classified awards expense		$	4.1		$	4.1
Liability classified awards (credit) expense		(0.6		)	1.0
Total pre-tax stock-based compensation expense		3.5			5.1
Book income tax benefit		(0.9		)	(1.3		)
Total stock-based compensation expense, net of tax		$	2.6		$	3.8

Schedule of stock option valuation assumptions

The following summarizes the assumptions used in the Black-Scholes model:

Risk-free interest rate	1.2	%
Weighted average historical volatility	30.5	%
Dividend yield	3.5	%
Expected years until exercise	4.6
Weighted average fair value of options granted	$17.53

Schedule of stock option activity

Stock option balances at March 31, 2020, and activity for the three months ended March 31, 2020 were as follows:

	Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in Years)	Aggregate Intrinsic Value (in Millions)
Outstanding at December 31, 2019	1,217,438		$	66.43
Granted	167,969		87.17
Exercised	(270,024	)	76.01
Expired	(46,306	)	113.72
Forfeited	(7,139	)	82.58
Outstanding at March 31, 2020	1,061,938		65.10		7.6	$	0.0
Vested at March 31, 2020 and Expected to Vest	986,611		64.96		7.5	$	0.0
Exercisable at March 31, 2020	418,654		$	70.54	6.5	$	0.0

Schedule of restricted stock unit activity

Outstanding balances as of March 31, 2020, and activity related to restricted stock and restricted stock units for the three months ended March 31, 2020 were as follows:

	Restricted Stock		Weighted Average Grant Date Fair Value		Stock-Settled Restricted Stock Units		Weighted Average Grant Date Fair Value
Outstanding at December 31, 2019	224,515		$	70.52	357,807		$	30.35
Granted	97,176		83.57		15,112		87.17
Released	(66,826	)	56.02		(30,032	)	64.76
Forfeited	(12,039	)	80.87		—		—
Outstanding at March 31, 2020	242,826		$	79.87	342,887		$	29.11

Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block]

The Company has granted cash-settled restricted stock units to certain employees. These instruments are recorded as liabilities at fair value as of the respective period end.

	Cash-Settled Restricted Stock Units		Weighted Average Fair Value
Outstanding at December 31, 2019	63,852		$	85.63
Granted	517		85.41
Forfeited	(7,597	)	86.53
Outstanding at March 31, 2020	56,772		$	34.51