Share-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2020

Summary of Restricted Stock and Performance Unit Award Activity

The following table presents restricted stock and performance unit award activity for the six months ended June 30, 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		204,960			94.25		120,285			99.16
Vested		(241,714	)		71.82		(86,015	)		70.81
Forfeitures		(3,666	)		96.60		—			—
Outstanding at June 30, 2020		676,532		$	102.52		357,417		$	103.63

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 June 30,						Six Months Ended June 30,
	2020			2019			2020			2019
Restricted stock	$	5.6		$	10.8		$	13.6		$	15.7
Performance units		2.1			0.9			4.2			2.9
Total share-based compensation expense		7.7			11.7			17.8			18.6
Income tax benefit		(1.9	)		(3.0	)		(4.5	)		(4.7	)
Share-based compensation expense, net of tax benefit	$	5.8		$	8.7		$	13.3		$	13.9

Unrecognized Compensation Expense for Share-Based Awards

The unrecognized compensation expense for all share-based awards at June 30, 2020 was as follows (dollars in millions):

	June 30, 2020
	Unrecognized Compensation Expense		Remaining Weighted Average Recognition Period (in years)
Restricted stock	$	32.6		3.1
Performance units		22.9		2.6
Total unrecognized share-based compensation expense	$	55.5		2.9