Incentive Plans (Tables)

9 Months Ended

Sep. 30, 2023

Share-Based Payment Arrangement [Abstract]

Summary of Awards Granted

During the nine months ended September 30, 2023, the Committee granted the following awards from the 2020 Long-Term Plan:

Type of Award	Number of Awards Granted	Grant Date	Grant Date Fair Value		Valuation Methodology
Performance Based RSUs 1	409,160	January 31, 2023	$	60.46	Monte Carlo
Time Based RSUs 2	499,220	January 31, 2023	43.27		Average Stock Price
Cash Settled RSUs 3	123,230	January 31, 2023	43.27		Average Stock Price

1 Performance based RSUs are scheduled to vest over a three year performance period.

2 Time based RSUs are generally scheduled to vest over three years from the date of grant.

3 Cash settled RSUs are generally scheduled to vest over three years from the date of grant.

During the nine months ended September 30, 2023, the Committee granted the following awards to Non-Employee Directors:

Type of Award	Number of Awards Granted	Grant Date	Grant Date Fair Value		Valuation Methodology
Time Based RSUs 1	56,880	February 1, 2023	$	42.20	Closing Stock Price

1 Non-employee directors time-based RSUs are scheduled to vest in February 2024.

Share-Based Plans, Amounts Recognized in the Financial Statements

Amounts recognized in the financial statements with respect to share-based plans are shown in the following table:

	Nine Months Ended September 30,
(Thousands of dollars)	2023		2022
Compensation charged against income before tax benefit	$	42,912	$	43,216
Related income tax benefit recognized in income	7,244		6,872