Share-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2015

Share-Based Compensation

Schedule of valuation assumptions for stock options

	For the Three Months Ended March 31,
	2015		2014
Expected life (in years)	5.5		5.5
Risk-free interest rate	1.36	%	1.63	%
Expected volatility	25.19	%	30.28	%
Expected dividend yield	2.04	%	2.82	%

Schedule of stock option activity

(dollars and options in thousands, except per share amounts)	Number of Options		Weighted Average Exercise Price per Share		Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value
Outstanding at December 31, 2014	2,889		$	46.84
Granted	336		82.28
Exercised	(90	)	41.00
Cancelled	(8	)	60.67
Outstanding at March 31, 2015	3,127		50.77		6.33	$	86,057
Exercisable at March 31, 2015	2,210		43.31		5.25	$	76,262

Schedule of additional information pertaining to stock option activity

	Three Months Ended March 31,
(dollars in thousands, except per share)	2015		2014
Weighted average grant date fair value of stock options granted (per share)	$	16.04	$	12.97
Total intrinsic value of stock options exercised	$	3,740	$	2,775

Schedule of restricted share and restricted unit activity

	RSAs				RSUs
(in thousands, except per share amounts)	Number of RSAs		Weighted Average  Fair Value  per Share		Number of RSUs		Weighted Average Fair Value per Share
Non-vested at December 31, 2014	16		$	27.94	434		$	59.61
Granted	—		—		145		82.33
Vested	(14	)	28.75		(127	)	56.41
Cancelled	—		—		(4	)	61.38
Non-vested at March 31, 2015	2		21.42		448		67.85

Schedule of components of share based compensation expense

	Three Months Ended
	March 31,
(in millions)	2015			2014
Stock options:
Pre-tax compensation expense	$	1.8		$	1.9
Income tax benefit	(0.7		)	(0.7		)
Stock option expense, net of income taxes	1.1			1.2
RSUs, RSAs and other share-based compensation:
Pre-tax compensation expense	3.3			2.7
Income tax benefit	(1.2		)	(1.0		)
RSUs, RSAs and other share-based compensation expense, net of income taxes	2.1			1.7
Total share-based compensation:
Pre-tax compensation expense	5.1			4.6
Income tax benefit	(1.9		)	(1.7		)
Total share-based compensation expense, net of income taxes	$	3.2		$	2.9