The amount of stock-based compensation expense recognized in our Condensed Consolidated Statements of Comprehensive Income for the three months ended March 31, 2025 and 2024 was as follows (in millions):


	Three Months Ended March 31,
Condensed Consolidated Statements of Comprehensive Income Classification	2025		2024
Cost of software-enabled services	$	17.4	$	15.4
Cost of license, maintenance and other related		2.2		1.6
Total cost of revenues		19.6		17.0
Selling and marketing		9.1		7.7
Research and development		7.6		6.2
General and administrative		16.4		14.2
Total operating expenses		33.1		28.1
Total stock-based compensation expense	$	52.7	$	45.1

The following table summarizes stock option and stock appreciation rights (“SARs”) activity, as well as performance stock units (“PSUs”) and restricted stock units (“RSUs”) activity, for the three months ended March 31, 2025 (shares in millions):


	Stock Options and SARs			PSUs and RSUs
Outstanding at December 31, 2024		31.3			4.8
Granted		1.8			2.5
Cancelled/forfeited		(0.8	)		(0.1	)
Exercised		(3.7	)		—
Vested		—			(1.1	)
Outstanding at March 31, 2025		28.6			6.1