Share-Based Compensation

9 Months Ended

Sep. 30, 2023

Share-Based Payment Arrangement [Abstract]

Share-Based Awards Granted

We granted the following awards under our stock compensation plans during the periods presented (in millions, except per share data):


	Three Months Ended September 30,						Nine Months Ended September 30,
	2023			2022			2023			2022
	Shares Granted	Weighted-average grant date fair value per share		Shares Granted	Weighted-average grant date fair value per share		Shares Granted	Weighted-average grant date fair value per share		Shares Granted	Weighted-average grant date fair value per share

Restricted stock units(1)	—	$	18.76	—	$	22.80	0.7	$	22.85	0.7	$	22.82
Restricted stock awards	0.8	$	19.60	—	$	—	0.8	$	19.60	—	$	—
Performance based restricted share unit awards(2) (3)	—	$	—	—	$	23.28	0.6	$	36.58	0.5	$	23.37
Total	0.8			—			2.1			1.2

(1) A nominal amount of restricted stock units were granted during the three months ended September 30, 2023 and September 30, 2022.
(2) A nominal amount of performance based restricted share unit awards were granted during the three months ended September 30, 2022.
(3) Weighted-average grant date fair value per share determined using Monte-Carlo valuation method.

Share-Based Compensation Expense

Total share-based compensation expense by award-type, net of estimated forfeitures, recognized in the condensed consolidated statement of operations for the periods presented was (in millions):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Stock options	$	0.1	$	0.4	$	0.4	$	1.2
Restricted stock units	5.1		4.5		14.6		13.2
Restricted stock awards	0.5		0.3		0.8		1.0
Performance based restricted share unit awards	7.9		5.2		22.6		22.0
Total share-based compensation expense, before tax	13.6		10.4		38.4		37.4
Income tax benefit	(3.2)		(2.5)		(9.2)		(9.0)
Total share-based compensation expense, after tax	$	10.4	$	7.9	$	29.2	$	28.4

Total share-based compensation, net of estimated forfeitures, recognized in the condensed consolidated statement of operations for the periods presented was (in millions):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Cost of products	$	0.5	$	0.2	$	1.4	$	1.2
Selling, general and administrative expense	11.6		10.0		33.4		35.0
Research and development expense	0.5		0.1		1.1		0.9
Other venue expense	1.0		0.1		2.5		0.3
Total share-based compensation expense, before tax	13.6		10.4		38.4		37.4
Income tax benefit	(3.2)		(2.5)		(9.2)		(9.0)
Total share-based compensation expense, after tax	$	10.4	$	7.9	$	29.2	$	28.4