v3.26.1
Stock-based Compensation (Tables)
6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Compensation Cost and Related Tax Benefits

Compensation cost for the Company’s stock-based awards and the related tax benefits were as follows:

 

 

Three Months Ended June 30,

 

 

 

Six Months Ended June 30,

 

(in millions)

 

2026

 

 

 

2025

 

 

 

2026

 

 

 

2025

 

Stock-based compensation expense

 

$

11.5

 

 

 

$

11.2

 

 

 

$

18.1

 

 

 

$

17.8

 

Tax benefit

 

 

(2.4

)

 

 

 

(2.3

)

 

 

 

(3.8

)

 

 

 

(3.7

)

Stock-based compensation expense, net of taxes

 

$

9.1

 

 

 

$

8.9

 

 

 

$

14.3

 

 

 

$

14.1

 

Summary of Stock Option Activity

Information on the Company’s stock option activity for the six months ended June 30, 2026 and 2025 is summarized below.

 

 

 

Six Months Ended June 30,

 

 

 

2026

 

 

2025

 

(in whole shares and dollars)

 

Shares

 

 

Weighted Average
Exercise Price

 

 

Shares

 

 

Weighted Average
Exercise Price

 

Outstanding, beginning of period

 

 

1,094,462

 

 

$

126.02

 

 

 

1,111,871

 

 

$

117.43

 

Granted

 

 

148,066

 

 

 

173.56

 

 

 

140,393

 

 

 

161.82

 

Exercised

 

 

(155,825

)

 

 

105.32

 

 

 

(135,146

)

 

 

93.86

 

Outstanding, end of period

 

 

1,086,703

 

 

 

135.46

 

 

 

1,117,118

 

 

 

125.86

 

Summary of Activity Information about Employee Restricted Stock Units

The following table summarizes activity information about employee restricted stock units:

 

 

 

Six Months Ended June 30,

 

 

 

2026

 

 

2025

 

(in whole shares and dollars)

 

Shares

 

 

Weighted
Average
Grant Date
Fair Value

 

 

Shares

 

 

Weighted
Average
Grant Date
Fair Value

 

Time-based restricted stock units:

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding, beginning of period

 

 

381,944

 

 

$

144.61

 

 

 

386,712

 

 

$

137.44

 

Granted

 

 

138,354

 

 

 

172.36

 

 

 

136,959

 

 

 

160.38

 

Vested

 

 

(129,190

)

 

 

139.77

 

 

 

(120,844

)

 

 

139.57

 

Forfeited

 

 

(5,067

)

 

 

151.31

 

 

 

(6,198

)

 

 

143.94

 

Outstanding, end of period

 

 

386,041

 

 

 

156.09

 

 

 

396,629

 

 

 

144.61

 

Performance-based and market-based restricted stock units:

 

 

 

 

 

 

 

 

 

 

 

Outstanding, beginning of period

 

 

133,150

 

 

$

153.78

 

 

 

126,211

 

 

$

140.47

 

Granted

 

 

59,663

 

 

 

167.54

 

 

 

52,360

 

 

 

178.39

 

Vested

 

 

(55,764

)

 

 

141.91

 

 

 

(31,052

)

 

 

141.58

 

Forfeited

 

 

 

 

 

 

 

 

(14,369

)

 

 

152.88

 

Outstanding, end of period

 

 

137,049

 

 

 

164.60

 

 

 

133,150

 

 

 

153.78