v3.25.2
Share-based compensation plans (Tables)
6 Months Ended
Jun. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Compensation expense by plan
Compensation expenses are classified as selling, general and administrative expenses in the condensed consolidated statements of operations. Compensation expenses for the share-based awards were as follows:

Compensation ExpenseCompensation Expense

Three Months Ended June 30,Six Months Ended June 30,
(In millions)
2025202420252024
Performance stock units
$4.7 4.4 $7.7 10.8 
Restricted stock units3.1 2.6 5.4 5.1 
Deferred stock units and fees paid in stock 0.3 0.3 0.7 0.7 
Cash based awards0.5 0.7 0.8 1.4 
Share-based payment expense8.6 8.0 14.6 18.0 
Income tax benefit(1.9)(1.8)(3.3)(4.1)
Share-based payment expense, net of tax$6.7 6.2 $11.3 13.9 
Option activity
The following table summarizes time-based stock option activity during the first six months of 2025: 

Shares
(in thousands)
Weighted-Average Grant-Date Fair Value
Outstanding balance as of December 31, 2024
22.5 $20.98 
Exercised— — 
Outstanding balance as of June 30, 2025
22.5 $20.98 
Nonvested share activity
The following table summarizes RSU activity during the first six months of 2025: 

Shares
(in thousands)
Weighted-Average Grant-Date Fair Value
Nonvested balance as of December 31, 2024
290.4 $74.24 
Granted145.8 86.71 
Forfeited(19.8)83.53 
Vested(134.9)69.49 
Nonvested balance as of June 30, 2025
281.5 $82.32 
The following table summarizes all PSU activity during the first six months of 2025:

Shares
(in thousands)
Weighted-Average Grant-Date Fair Value
Nonvested balance as of December 31, 2024
639.1 $72.64 
Granted221.7 89.86 
Forfeited or expired
(54.1)80.66 
Vested(a)
(235.0)67.17 
Nonvested balance as of June 30, 2025
571.7 $80.81 

(a)The vested PSUs presented are based on the target amount of the award. In accordance with the terms of the underlying award agreements, the actual shares earned and distributed for the performance period ended December 31, 2024 were 440.2 thousand, compared to target shares of 235.0 thousand.
The following table summarizes all DSU activity during the first six months of 2025:

Shares
(in thousands)
Weighted-Average Grant-Date Fair Value
Nonvested balance as of December 31, 2024
13.6 $87.93 
Granted14.8 92.19 
Vested(13.6)87.93 
Nonvested balance as of June 30, 2025
14.8 $92.19