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Common Equity (Tables)
 12 Months Ended
Dec. 31, 2024
Stockholders' Equity Note [Abstract]  
Schedule of stock-based compensation expense and related 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)202420232022
Stock options$4.9 $5.3 $6.5 
Restricted stock7.6 6.6 7.0 
Performance units26.8 (2.2)
(1)
21.3 
Stock-based compensation expense$39.3 $9.7 $34.8 
Related tax benefit$10.8 $2.7 $9.6 
(1)    The reduction in expense was due to a decrease in the fair value of the outstanding performance units.
Schedule of stock option activity
The following is a summary of our stock option activity during 2024:
Stock OptionsNumber of OptionsWeighted-Average Exercise Price
Weighted-Average Remaining Contractual Life
(in years)
Aggregate Intrinsic Value (in millions)
Outstanding as of January 1, 20243,015,751 $79.57 
Granted294,990 84.92 
Exercised(380,412)62.20 
Forfeited(10,286)91.82 
Expired(3,141)91.34 
Outstanding as of December 31, 20242,916,902 82.32 5.4$35.0 
Exercisable as of December 31, 20242,182,660 79.16 4.6$32.7 
Schedule of restricted stock activity
The following restricted stock activity occurred during 2024:
Restricted SharesNumber of SharesWeighted-Average Grant Date Fair Value
Outstanding and unvested as of January 1, 2024100,398 $93.95 
Granted108,484 84.96 
Released(99,941)91.07 
Forfeited(3,699)88.56 
Outstanding and unvested as of December 31, 2024105,242 87.61 
Schedule of Common Stock Outstanding
We had the following changes to our outstanding common stock during the year ended December 31, 2024 :
Common stock shares outstanding at beginning of period315,434,531 
Shares issued:
At-the-market offering program1,030,674 
Stock-based compensation 455,474 
401(k)336,800 
Stock investment plan423,376 
Common stock shares outstanding at end of period317,680,855 
Schedule of shares purchased to fulfill exercised stock options and restricted stock awards
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, except share amounts)202420232022
Shares purchased23,292 182,795 687,416 
Cost of shares purchased$3.2 $16.6 $69.2 
Schedule of common stock dividends declared
During the year ended December 31, 2024, our Board of Directors declared common stock dividends which are summarized below:
Date DeclaredDate PayablePer SharePeriod
January 18, 2024March 1, 2024$0.835First quarter
April 18, 2024June 1, 2024$0.835Second quarter
July 18, 2024September 1, 2024$0.835Third quarter
October 17, 2024December 1, 2024$0.835Fourth quarter