Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

Schedule of outstanding awards issued pursuant to plans

The following table summarizes the outstanding awards issued pursuant to the plans described above as of December 31, 2022 and the remaining shares of common stock available for future issuance (in millions):

Plan name	RSUs	SSAR Awards	Remaining Shares of Common Stock Available for Future Issuance
2021 Plan (1)	1.9	—	2.7
2020 Plan (2)	0.4	—	—
2016 Plan (3)	0.6	0.5	—
2006 Plan (4)	0.1	—	—

(1)As of December 31, 2022, unvested RSUs will vest between February 2023 and November 2026.

(2)As of December 31, 2022, unvested RSUs will vest between March 2023 and May 2024.

(3)As of December 31, 2022, unvested RSUs will vest between February 2023 and August 2023 and the outstanding SSAR Awards will expire between March 2023 and March 2025.

(4)RSUs granted to non‑employee directors under the 2006 Plan prior to 2011 remain outstanding until the date the non‑employee director ceases, for any reason, to be a member of the Board of Directors.

Schedule of RSUs

The following table summarizes the status of our RSUs and related transactions for each of the following years (in millions, except for weighted average grant‑date fair value data and weighted average remaining contractual life):

	RSUs	Weighted Average Grant Date Fair Value Price		Aggregate Intrinsic Value		Weighted Average Remaining Contractual Life (in Years)
As of December 31, 2019	1.2	$	32.50	$	53.2	0.9
Granted	1.2	23.30
Vested	(0.4)	36.12
Forfeited	(0.2)	32.56
As of December 31, 2020	1.8	25.17		57.1		1.3
Granted	0.7	33.08
Vested	(0.5)	27.34
Forfeited	(0.3)	28.55
As of December 31, 2021	1.7	27.30		46.3		1.2
Granted (1)	2.1	25.86
Vested	(0.6)	27.27
Forfeited	(0.3)	25.97
As of December 31, 2022	3.0	$	26.41	$	81.4	1.6

(1)    Awards granted during the year ended December 31, 2022 included 0.5 million special performance-based equity awards, pursuant to which vesting is tied to the Company's total shareholder return over the three-year performance period. The awards were valued using a Monte Carlo simulation. The weighted average fair value of the awards was $33.45 and the assumptions used to determine such fair value were as follows: simulation term of 3 years, volatility of 52.2%, and risk-free interest rate of 4.1%.

Schedule of outstanding and exercisable SSAR Awards

The following table summarizes the status of our outstanding and exercisable SSAR Awards and related transactions for each of the following years (in millions, except weighted average exercise price and weighted average remaining contractual life data):

	SSAR Awards Outstanding						SSAR Awards Exercisable
	SSAR Awards	Weighted Average Exercise Price		Aggregate Intrinsic Value		Weighted Average Remaining Contractual Life (in Years)	SSAR Awards	Weighted Average Exercise Price		Aggregate Intrinsic Value		Weighted Average Remaining Contractual Life (in Years)
As of December 31, 2019	2.2	$	29.72	$	31.3	3.4	0.1	$	50.12	$	—	1.1
Granted	0.1	23.39
Exercised	—	—
Forfeited	—	57.48
As of December 31, 2020	2.3	29.08		7.3		2.5	0.2	41.85		—		0.8
Granted	—	—
Exercised (1)	(0.1)	24.89
Forfeited	(1.0)	29.91
As of December 31, 2021	1.3	28.78		0.6		1.9	0.4	29.18		0.2		1.0
Granted	—	—
Exercised	—	—
Expired	(0.1)	36.25
Forfeited	(0.6)	29.58
As of December 31, 2022	0.5	$	26.35	$	0.8	0.9	0.4	$	27.43	$	0.3	0.5

(1)The aggregate intrinsic value of SSAR Awards exercised was $0.9 million for the year ended December 31, 2021.

Schedule of unrecognized compensation cost

The unrecognized compensation cost as of December 31, 2022 is expected to be recognized as compensation expense over a weighted average period of 1.5 years as follows (in millions):

Year Ended December 31,
2023	$	21.3
2024	15.1
2025	9.6
2026	4.7
Total	$	50.6

Schedule of components of other comprehensive income and accumulated other comprehensive loss

Our other comprehensive loss, consisting of foreign currency translation adjustments related to our subsidiaries that have a functional currency other than the U.S. dollar and cash flow hedges, was as follows (in millions):

	Foreign Currency Translation Adjustments		Cash Flow Hedges		Accumulated Other Comprehensive Loss
Balance as of December 31, 2020	$	(120.3)	$	(12.3)	$	(132.6)
Other comprehensive income (loss) before reclassifications	(13.7)		203.2		189.6
Amounts reclassified from accumulated other comprehensive income (loss)	—		(193.6)		(193.6)
Balance as of December 31, 2021	(134.0)		(2.7)		(136.7)
Other comprehensive income (loss) before reclassifications	(45.5)		(101.3)		(146.9)
Amounts reclassified from accumulated other comprehensive income (loss)	—		122.9		122.9
Balance as of December 31, 2022	$	(179.5)	$	18.9	$	(160.6)