v3.26.1
Share-based compensation plans (Tables)
3 Months Ended
Mar. 31, 2026
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 Expense

Three Months Ended March 31,
(In millions)
20262025
Performance stock units
$4.0 3.0 
Restricted stock units2.7 2.3 
Deferred stock units and fees paid in stock 0.4 0.4 
Cash based awards0.3 0.3 
Share-based payment expense7.4 6.0 
Income tax benefit(1.7)(1.4)
Share-based payment expense, net of tax$5.7 4.6 
Option activity
The following table summarizes time-based stock option activity during the first three months of 2026: 

Shares
(in thousands)
Weighted-Average Grant-Date Fair Value
Outstanding balance as of December 31, 2025
2.8 $19.75 
Exercised(2.8)19.75 
Outstanding balance as of March 31, 2026
— $— 
Nonvested share activity
The following table summarizes RSU activity during the first three months of 2026: 

Shares
(in thousands)
Weighted-Average Grant-Date Fair Value
Nonvested balance as of December 31, 2025
263.7 $84.52 
Granted110.1 123.91 
Forfeited(6.7)86.76 
Vested(94.6)78.61 
Nonvested balance as of March 31, 2026
272.5 $102.44 
The following table summarizes all PSU activity during the first three months of 2026:

Shares
(in thousands)
Weighted-Average Grant-Date Fair Value
Nonvested balance as of December 31, 2025
522.4 $80.75 
Granted342.3 118.31 
Forfeited or expired
(10.0)80.94 
Vested(a)
(167.8)69.24 
Nonvested balance as of March 31, 2026
686.9 $102.27 

(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, 2025 were 358.9 thousand, compared to target shares of 167.8 thousand.
The following table summarizes all DSU activity during the first three months of 2026:

Shares
(in thousands)
Weighted-Average Grant-Date Fair Value
Nonvested balance as of December 31, 2025
14.8 $92.19 
Granted— — 
Vested— — 
Nonvested balance as of March 31, 2026
14.8 $92.19