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Common Equity (Tables)
 12 Months Ended
Dec. 31, 2021
Stockholders' Equity Note [Abstract]  
Schedule of stock-based compensation expense and related deferred tax benefit recognized in income
The following table summarizes our pre-tax stock-based compensation expense and the related tax benefit recognized in income for the years ended December 31:
(in millions)202120202019
Stock options$6.5 $6.0 $4.4 
Restricted stock6.1 7.4 7.1 
Performance units3.1 22.3 38.7 
Stock-based compensation expense$15.7 $35.7 $50.2 
Related tax benefit$4.3 $9.8 $13.8 
Schedule of stock option activity
The following is a summary of our stock option activity during 2021:
Stock OptionsNumber of OptionsWeighted-Average Exercise Price
Weighted-Average Remaining Contractual Life
(in years)
Aggregate Intrinsic Value (in millions)
Outstanding as of January 1, 20212,887,460 $64.13 
Granted530,612 $91.06 
Exercised(300,657)$52.15 
Forfeited(5,508)$83.51 
Outstanding as of December 31, 20213,111,907 $69.84 6.2$84.7 
Exercisable as of December 31, 20211,737,283 $57.88 4.6$68.1 
Schedule of restricted stock activity
The following restricted stock activity occurred during 2021:
Restricted SharesNumber of SharesWeighted-Average Grant Date Fair Value
Outstanding and unvested as of January 1, 2021101,087 $83.28 
Granted69,681 $91.06 
Released(70,083)$83.06 
Forfeited(1,624)$84.43 
Outstanding and unvested as of December 31, 202199,061 $88.89 
Schedule of shares repurchased
The following is a summary of shares purchased to fulfill exercised stock options and restricted stock awards during the years ended December 31:
(in millions)202120202019
Shares purchased0.4 1.0 1.8 
Cost of shares purchased$33.1 $99.2 $140.1 
Schedule of dividends declared
During the year ended December 31, 2021, our Board of Directors declared common stock dividends which are summarized below:
Date DeclaredDate PayablePer SharePeriod
January 21, 2021March 1, 2021$0.6775First quarter
April 15, 2021June 1, 2021$0.6775Second quarter
July 15, 2021September 1, 2021$0.6775Third quarter
October 21, 2021December 1, 2021$0.6775Fourth quarter