Share-Based Compensation and Capital Stock (Tables)

9 Months Ended

Sep. 30, 2016

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:

	2016 Grants			2015 Grants
Risk-free interest rate	1.22		%	1.45		%
Expected volatility	23.76		%	23.94		%
Expected life of stock option	4.6 years			4.6 years
Dividend yield	1.59		%	1.23		%
Requisite service period	4 years			4 years
Contractual life	7 years			7 years
Weighted average fair value of options granted (per option)	$	9.30		$	12.39

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,
	2016		2015		2016		2015
Restricted share grants	21,357		7,836		188,509		114,281
Weighted average grant date fair value per share	$	48.03	$	51.07	$	51.21	$	62.45
Aggregate grant date fair value ($000)	$	1,026	$	400	$	9,654	$	7,137
Restricted shares forfeited	14,072		9,522		23,686		17,964
Vesting service period of shares granted	36 - 48 months		24 - 48 months		12 - 48 months		12 - 48 months
Fair value of shares vested ($000)	$	180	$	553	$	7,363	$	12,292

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,
	2016		2015		2016		2015
Performance vested restricted stock units granted at target	10,387		—		89,944		51,309
Weighted average grant date fair value per share	$	48.14	$	—	$	47.85	$	60.94
Aggregate grant date fair value ($000)	$	500	$	—	$	4,304	$	3,126
Stock units forfeited	26,363		6,079		54,556		6,079
Requisite service period	9 - 24 months		—		9 - 43 months		36 - 43 months

Summary Of Change In Stock-Based Award Activity

A summary of stock-based award activity as of September 30, 2016 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, 2016	2,084,201		$	41.36		384,490		$	47.40	226,737		$	45.09
Granted	745,769		51.49			188,509		51.21		89,944		47.85
Performance based leveraging (1)	—		—			—		—		2,043		36.76
Exercised/Vested	(297,398	)	22.87			(149,318	)	43.48		(28,188	)	36.76
Expired	—		—			—		—		—		—
Forfeited	(80,869	)	53.86			(23,686	)	51.06		(54,556	)	42.82
Outstanding at September 30, 2016	2,451,703		$	46.27	4.5 years	399,995		$	50.44	235,980		$	47.59
Options exercisable at September 30, 2016	1,059,365		$	37.79	2.9 years

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⁽¹⁾PVRSU units outstanding have been increased by 2,043units due to the Company exceeding the targeted performance conditions contained in PVRSUs granted in prior periods during the nine months ended September 30, 2016.

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, 2016 and 2015:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(in millions)	2016		2015		2016		2015
Stock options	$	1.0	$	0.8	$	3.6	$	2.4
Restricted stock	1.7		1.6		5.7		5.1
Performance vested restricted stock units	0.4		1.0		1.7		1.6
Total	$	3.1	$	3.4	$	11.0	$	9.1
Income tax benefits	$	1.1	$	1.3	$	4.1	$	3.4