Stock-based Compensation (Tables)

6 Months Ended

Jun. 30, 2026

Share-Based Payment Arrangement [Abstract]

Summary of Stock Options And Performance Award Fair Value Assumptions

We calculated the fair value of the performance stock unit awards with a market condition on the date of the grant using assumptions listed below. These awards incorporate a fair value cap such that the number of awards that vest will be reduced if our stock price exceeds the cap at the end of the performance measurement period:


	January 2026 Grant			May 2026 Grant
Grant date price per share of performance award	$	26.93		$	41.54
Expected volatility	37.74		%	39.03		%
Risk-free interest rate	3.53		%	4.06		%
Look-back period in years	3.00			3.00

Grant date fair value per share	$	27.97		$	68.25

Summary of Status and Activity of Non-Vested Stock Units

The following table shows a summary of the status and activity of non-vested stock units:


	Restricted Stock Units	Performance Stock Units	Total Stock Units	Weighted Average Grant Date Fair Value per Unit
Non-vested at December 31, 2025	530,237	734,231	1,264,468	$	35.22
Granted	256,608	272,652	529,260	$	28.77
Credited from dividends	379	643	1,022	$	28.28
Performance share adjustment	0	28,505	28,505	$	28.93
Vested	(250,920)	(329,924)	(580,844)	$	33.24
Forfeited	(24,882)	(17,187)	(42,069)	$	36.14
Non-vested at June 30, 2026	511,422	688,920	1,200,342	$	33.17

Summary of Status and Activity of Stock Options

The following table shows a summary of the status and activity of stock options:


	Options	Weighted Average Exercise Price per Option		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in millions)
Outstanding at December 31, 2025	507,130	$	28.62
Exercised	(77,409)	$	20.25
Expired	(6,664)	$	32.19
Outstanding at June 30, 2026	423,057	$	30.10	3.37	$	6.3
Exercisable at June 30, 2026	423,057	$	30.10	3.37	$	6.3

Summary of Stock-based Compensation Expense Recognized

The following table presents total stock-based compensation expense recognized in the condensed consolidated statement of operations:


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
(Dollars in millions)
Selling, general and administrative expenses	$	2.9	$	1.7	$	6.8	$	8.3
Less related income tax benefit	0.6		0.6		1.7		2.6
Decrease in net income	$	2.3	$	1.1	$	5.1	$	5.7