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Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]  
Schedule of Compensation Expense
Stock-based compensation cost by award type follows:
(in millions)202220212020
Stock option awards$14.8 $9.5 $10.4 
Restricted stock awards8.1 7.3 8.6 
Performance share awards9.4 7.7 7.4 
Restricted stock units— — 1.4 
Stock appreciation rights— 9.0 2.4 
Total stock-based compensation cost incurred32.3 33.5 30.2 
Capitalized cost during the period(3.2)(9.3)(3.5)
Amortization of capitalized cost during the period2.1 14.3 1.2 
Total stock-based compensation expense$31.2 $38.5 $27.9 
Income tax benefit$14.6 $25.2 $8.8 
Schedule of Weighted-Average Assumptions for Equity Awards The weighted average assumptions used in the determination of fair value for stock options follows:
(in millions, except per share amounts and percentages)2022
Broad-based Grant		202220212020
Expected dividend yield1.0 %0.9 %1.4 %1.3 %
Expected term (in years)
3.84.74.94.8
Expected volatility31.9 %29.1 %28.7 %21.9 %
Risk-free interest rate3.9 %1.8 %0.4 %1.4 %
Weighted-average grant date fair value (per share)
$80.23 $55.96 $32.51 $29.29 
Fair value of options granted$40.4 $12.8 $11.8 $11.6 
Schedule of Stock Option Activity Under the Company's Stock Option Awards
A summary of stock options outstanding and activity follows:
Number of Units
(in thousands)
Weighted-Average Exercise Price
(per share)
Weighted-Average Contractual Term
(in years)
Aggregate Intrinsic Value
(in millions)
Outstanding as of December 31, 20211,270 $129.32 
Options granted732 268.68 
Options exercised(349)115.87 
Options forfeited / expired(67)210.76 
Outstanding as of December 31, 20221,586 193.17 7.7$93.4 
Vested and exercisable as of December 31, 2022623 126.47 5.7$68.0 
Additional information related to stock option activity during the years ended December 31 follows:
(in millions)202220212020
Intrinsic value of options exercised$57.9 $72.8 $11.9 
Schedule of Activity Related to Performance Shares
A summary of performance shares outstanding and activity follows:
Number of Shares
(in thousands)
Weighted-Average Grant Date Fair Value
(per share)
Weighted-Average Contractual Term
(in years)
Aggregate Intrinsic Value
(in millions)
Outstanding as of December 31, 2021138 $196.15 
Awards granted38 313.77 
Awards vested(89)154.23 
Awards converted44 154.23 
Awards forfeited(3)246.70 
Outstanding as of December 31, 2022128 244.25 1.0$30.1 
Additional information related to performance share activity during the years ended December 31 follows:
(in millions)202220212020
Weighted-average grant date fair value (per share)$313.77 $213.13 $222.50 
Intrinsic value of performance share awards exercised22.0 13.3 12.9 
Schedule of Activity Related to Restricted Stock
A summary of restricted stock outstanding and activity follows:
Number of Shares
(in thousands)
Weighted-Average Grant Date Fair Value
(per share)
Weighted-Average Contractual Term
(in years)
Aggregate Intrinsic Value
(in millions)
Outstanding as of December 31, 2021155 $141.32 
Shares granted42 227.44 
Shares vested(62)128.96 
Shares forfeited(10)169.47 
Outstanding as of December 31, 2022125 174.34 1.0$29.4 
Additional information related to restricted stock award activity during the years ended December 31 follows:
(in millions)202220212020
Weighted-average grant date fair value (per share)$227.44 $154.23 $147.78 
Intrinsic value of restricted stock exercised15.7 11.8 9.6 
Additional information related to restricted stock unit activity during the year ended December 31, 2020 follows:
(in thousands, except per share amounts)2020
Restricted stock units granted8 
Weighted-average grant date fair value (per share)(1)
$161.41 
(1)Restricted stock units' fair value is based on the closing market price of the stock on the respective dates of the grants.