Share-Based Compensation and Capital Stock (Tables)

12 Months Ended

Dec. 31, 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			2013			2012
Risk-free interest rate	1.56		%	0.73		%	0.78		%
Expected volatility	25.01		%	38.14		%	40.15		%
Expected life of stock option	4.5 years			4.5 years			4.4 years
Dividend yield	1.62		%	2.01		%	2.08		%
Requisite service period	4 years			4 years			4 years
Contractual life	7 years			7 years			7 years
Weighted average fair value of options granted (per option)	$	8.82		$	9.89		$	9.98

Schedule of Options Outstanding and Exercisable

The following table summarizes information about stock options outstanding at December 31, 2014:

	Options Outstanding				Options Exercisable
Range of Exercise Prices	Number Outstanding at December 31, 2014	Weighted Average Remaining Contractual Life	Weighted Average Exercise Price		Number Exercisable at December 31, 2014	Weighted Average Exercise Price
$ 0.00 to $24.37	337,565	1.1 years	$	20.57	337,565	$	20.57
$24.38 to $29.25	591,074	2.4 years	$	25.84	494,330	$	25.61
$29.26 to $34.12	163,058	3.1 years	$	31.31	122,288	$	31.31
$34.13 to $39.00	163,975	5.1 years	$	36.76	40,990	$	36.76
$43.88 to $48.75	647,505	6.2 years	45.59		—	—
	1,903,177	3.8 years	$	33.03	995,173	$	25.06

Summary of Activity Related to Restricted Stock Grants

The following table is a summary of activity related to restricted stock grants for the year ended December 31:

	2014		2013		2012
Restricted shares granted	154,833		225,240		266,159
Weighted average grant date fair value per share	$	46.81	$	37.74	$	35.76
Aggregate grant date fair value ($000)	$	7,248	$	8,500	$	9,517
Restricted shares forfeited	23,804		40,552		26,824
Vesting service period of shares granted	12 - 48 months		12 - 48 months		12-68 months
Grant date fair value of shares vested ($000)	$	10,280	$	8,569	$	6,696

Summary of Activity Related to PVRSU Grants

The following table is a summary of activity related to PVRSU grants for the years ended December 31, 2014, 2013 and 2012:

	2014		2013		2012
Performance vested restricted stock units granted at target	24,678		80,184		117,523
Weighted average grant date fair value per share	$	45.59	$	39.48	$	35.27
Aggregate grant date fair value ($000)	$	1,125	$	3,165	$	4,145
Stock units forfeited	22,099		3,334		57,176
Requisite service period	36 months		22-38 months		24-60 months

Summary of Change in Stock-Based Award Activity

A summary of stock-based award activity as of December 31, 2014, 2013 and 2012 and the changes during the years are presented below:

	2014
	Stock Options					Restricted Stock				Performance Vested Restricted Stock Units
	Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual LIfe	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		154,833		$	46.81	24,678		$	45.59
Performance-Based Leveraging*	—		—			—		$	—	10,251		$	41.25
Exercised/Vested	(390,290	)	$	25.87		(214,818	)	$	35.91	(28,886	)	$	41.25
Expired	—		$	—		—		$	—	—		$	—
Forfeited	(20,242	)	$	34.33		(23,804	)	$	38.97	(22,099	)	$	34.77
Outstanding at December 31, 2014	1,903,177		$	33.03	3.8 years	479,556		$	40.14	200,286		$	38.28
Options exercisable at December 31, 2014	995,173		$	25.06	2.0 years

* PVRSU units outstanding have been increased by 10,251 units during the year ended December 31, 2014, due to the Company exceeding the targeted performance conditions contained in PVRSU's granted in prior periods.

	2013
	Stock Options					Restricted Stock				Performance Vested Restricted Stock Units
	Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life	Shares		Weighted Average Grant Date Fair Value		Shares		Weighted Average Grant Date Fair Value
Outstanding at January 1, 2013	1,934,034		$	25.80		606,547		$	35.17	170,116		$	35.56
Granted	173,413		$	36.76		225,240		$	37.74	80,184		$	39.48
Performance-Based Leveraging*	—		—			—		—		9,192		$	32.60
Exercised/Vested	(347,180	)	$	25.54		(227,890	)	$	33.94	(39,816	)	$	32.60
Expired	(75,473	)	$	36.99		—		—		—		—
Forfeited	(22,842	)	$	28.94		(40,552	)	$	35.85	(3,334	)	$	41.25
Outstanding at December 31, 2013	1,661,952		$	26.44	3.0 years	563,345		$	36.64	216,342		$	37.34
Options exercisable at December 31, 2013	1,181,374		$	24.61	2.2 years

* PVRSU units outstanding have been increased by 9,192 units during the year ended December 31, 2013, due to the Company exceeding the targeted performance conditions contained in PVRSU's granted in prior periods.

	2012
	Stock Options					Restricted Stock				Performance Vested Restricted Stock Units
	Options		Weighted Average Exercise Price(1)		Weighted Average Remaining Contractual Life	Shares		Weighted Average Grant Date Fair Value		Shares		Weighted Average Grant Date Fair Value
Outstanding at January 1, 2012	1,573,726		$	33.30		565,627		$	34.43	109,769		$	35.57
Granted	160,408		$	35.60		266,159		$	35.76	117,523		$	35.27
Special Dividend Adjustment	497,497		$	25.31		—		—		—		—
Exercised/Vested	(266,754	)	$	26.57		(198,415	)	$	33.75	—		—
Forfeited	(30,843	)	$	36.67		(26,824	)	$	36.06	(57,176	)	$	34.98
Outstanding at December 31, 2012	1,934,034		$	25.80	4.0 years	606,547		$	35.17	170,116		$	35.56
Options exercisable at December 31, 2012	1,302,624		$	25.62	3.1 years

⁽¹⁾ The weighted average exercise price for options outstanding and exercisable reflect the reduction of the option price for outstanding options as described under "Special Dividend Adjustment". The weighted average exercise price for options granted, exercised or forfeited reflects the option price in effect at the time of the transaction.

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

The components of the Company’s pretax stock-based compensation expense and associated income tax benefits are as follows for the years ended December 31:

(in millions)	2014			2013		2012
Stock options	$	2.4		$	1.8	$	2.1
Restricted stock	7.2			7.5		7.5
Performance vested restricted stock units	(0.2		)	2.2		1.7
Total	$	9.4		$	11.5	$	11.3
Income tax benefits	$	3.5		$	4.2	$	4.1

Schedule of Unrecognized Compensation Cost, Nonvested Awards

The total unrecognized compensation costs related to stock-based awards that have not yet vested and the related weighted average amortization period over which the costs are to be recognized as of December 31, 2014 are as follows:

	Unrecognized Compensation Expense on Unvested Awards		Weighted Average Remaining Amortization Period
	(in millions)
Stock options	$	5.7	2.8 years
Restricted stock	11.9		2.4 years
Performance vested restricted stock units	1.8		2.0 years
Total	$	19.4