Share-Based Compensation and Capital Stock (Tables)

9 Months Ended

Sep. 30, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Weighted Average Assumptions Of Black-Scholes Option-Pricing Model

The fair value of the options granted was estimated on the grant date using the Black-Scholes option-pricing model with the following weighted average assumptions:

	2014 Grants			2013 Grants
Risk-free interest rate	1.56		%	0.73		%
Expected volatility	25.01		%	38.14		%
Expected life of stock option	4.5 years			4.5 years
Dividend yield	1.62		%	2.01		%
Requisite service period	4 years			4 years
Contractual life	7 years			7 years
Weighted average fair value of options granted	$	8.82		$	9.89

Summary Of Activity Related To Restricted Stock Grants

The following table is a summary of activity related to restricted stock grants:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2014		2013		2014		2013
Restricted share grants	2,853		7,646		149,908		223,045
Weighted average grant date fair value per share	$	52.59	$	39.24	$	46.58	$	37.65
Aggregate grant date fair value ($000)	$	150	$	300	$	6,983	$	8,397
Restricted shares forfeited	13,922		25		18,218		27,953
Vesting service period of shares granted	36 months		36 months		12 - 48 months		12 - 48 months
Grant date fair value of shares vested ($000)	$	2,076	$	94	$	10,280	$	8,569

Summary Of Activity Related To PVRSU Grants

The following table is a summary of activity related to PVRSU grants:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2014		2013		2014		2013
Performance vested restricted stock units granted at target	—		—		24,678		58,902
Weighted average grant date fair value per share	$	—	$	—	$	45.59	$	36.76
Aggregate grant date fair value ($000)	$	—	$	—	$	1,125	$	2,165
Stock units forfeited	3,900		—		3,900		—
Requisite service period	—		—		36 months		22-36 months

Summary Of Change In Stock-Based Award Activity

A summary of stock-based award activity as of September 30, 2014 and changes during the nine months ended are presented below:

	Stock Options					Restricted Stock				Performance Vested Restricted Stock Units
	Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Shares		Weighted Average Grant Date Fair Value		Shares		Weighted Average Grant Date Fair Value
Outstanding at January 1, 2014	1,661,952		$	26.44		563,345		$	36.64	216,342		$	37.34
Granted	651,757		$	45.59		149,908		$	46.58	24,678		$	45.59
Performance based leveraging (1)	—		$	—		—		$	—	10,251		$	41.25
Exercised/Vested	(190,557	)	$	26.16		(214,818	)	$	35.91	(28,886	)	$	41.25
Expired	—		$	—		—		$	—	—		$	—
Forfeited	(15,990	)	$	31.33		(18,218	)	$	38.50	(3,900	)	$	36.76
Outstanding at September 30, 2014	2,107,162		$	32.35	3.7	480,217		$	40.01	218,485		$	37.95
Options exercisable at September 30, 2014	1,194,906		$	25.15	2.0

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⁽¹⁾PVRSU units outstanding have been increased by 10,251units due to the Company exceeding the targeted performance conditions contained in PVRSUs granted in prior periods during the nine months ended September 30, 2014.

Pre-Tax Stock-Based Compensation Expenses And Associated Income Tax Benefits

The components of the Company’s pretax share-based compensation expense and associated income tax benefits are as follows for the three and nine months ended September 30, 2014 and 2013:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(in millions)	2014		2013		2014		2013
Stock options	$	0.6	$	0.3	$	1.7	$	1.3
Restricted stock	1.7		2.1		5.5		5.7
Performance vested restricted stock units	0.8		0.5		0.7		1.7
Total	$	3.1	$	2.9	$	7.9	$	8.7
Income tax benefits	$	1.1	$	1.1	$	2.9	$	3.2