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LONG-TERM INCENTIVE COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2022

Stock-based compensation expense and the related recognized tax benefit were as follows:


(In millions)	2022		2021		2020
Stock-based compensation expense	$	47.4	$	37.2	$	24.0
Tax benefit	6.7		4.6		2.9

The following table summarizes information related to stock options:


	Number of options (in thousands)	Weighted average exercise price		Weighted average remaining contractual life (in years)	Aggregate intrinsic value (in millions)
Outstanding at January 1, 2022	142.0	$	73.76	4.40	$	20.3
Exercised	(.9)	40.33
Outstanding at December 31, 2022	141.1	$	73.96	3.42	$	15.1
Options vested and expected to vest at December 31, 2022	141.1	73.76		3.42	15.1
Options exercisable at December 31, 2022	141.1	$	73.96	3.42	$	15.1

The following table summarizes information related to awarded PUs:


	Number of PUs (in thousands)	Weighted average grant-date fair value
Unvested at January 1, 2022	322.1	$	127.33
Granted at target	159.7	163.97
Adjustment for above-target performance(1)	78.1	110.41
Vested	(182.7)	110.41
Forfeited/cancelled	(4.5)	152.27
Unvested at December 31, 2022	372.7	$	147.45

The following table summarizes information related to awarded MSUs:


	Number of MSUs (in thousands)	Weighted average grant- date fair value
Unvested at January 1, 2022	195.2	$	143.16
Granted at target	100.5	141.80
Adjustments for above-target performance(1)	69.2	127.45
Vested	(153.0)	130.34
Forfeited/cancelled	(3.4)	149.91
Unvested at December 31, 2022	208.5	$	145.86

The following table summarizes information related to awarded RSUs:


	Number of RSUs (in thousands)	Weighted average grant-date fair value
Unvested at January 1, 2022	36.1	$	139.82
Granted	44.6	168.34
Vested	(19.2)	146.32
Forfeited/cancelled	(1.7)	125.93
Unvested at December 31, 2022	59.8	$	159.23