Share-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2020

Summary of Restricted Stock and Performance Unit Award Activity

The following table presents restricted stock and performance unit award activity for the three months ended March 31, 2020:

	Restricted Stock					Performance Units
	Shares			Weighted Average Grant- Date Fair Value		Shares		Weighted Average Grant- Date Fair Value
Outstanding at January 1, 2020		716,952		$	94.50		323,147	$	96.56
Granted		197,470			94.28		108,415		96.63
Vested		(2,353	)		86.24		—		—
Forfeitures		(3,092	)		96.12		—		—
Outstanding at March 31, 2020		908,977		$	94.47		431,562	$	96.58

Compensation Expense for Share-Based Awards

Our share-based compensation expense is recorded in "Selling, general, and administrative expenses." Compensation expense for share-based awards recognized in the Consolidated Statements of Income, net of forfeitures, was as follows (dollars in millions):

	Three Months Ended March 31,
	2020			2019
Restricted stock	$	8.0		$	4.9
Performance units		2.1			2.0
Total share-based compensation expense		10.1			6.9
Income tax benefit		(2.5	)		(1.7	)
Share-based compensation expense, net of tax benefit	$	7.6		$	5.2

Unrecognized Compensation Expense for Share-Based Awards

The unrecognized compensation expense for all share-based awards at March 31, 2020 was as follows (dollars in millions):

	March 31, 2020
	Unrecognized Compensation Expense		Remaining Weighted Average Recognition Period (in years)
Restricted stock	$	37.6		3.0
Performance units		25.6		2.7
Total unrecognized share-based compensation expense	$	63.2		2.9