Stock-Based Compensation

3 Months Ended

Mar. 31, 2012

Stock-Based Compensation [Abstract]

Stock-Based Compensation

NOTE 2. STOCK-BASED COMPENSATION

Presented below is a summary of the stock-based compensation cost and associated tax benefit included in the accompanying consolidated statements of operations:

	Three Months Ended March 31,
	2012		2011
Stock compensation cost	$	15.0	$	16.0
Tax benefit	$	5.4	$	5.6

During the first three months of 2012, the Company granted 0.5 million employee stock options, which had a weighted average grant date fair value of $15.15 per share based on the Black-Scholes option-pricing model. The Company also granted 1.3 million shares of restricted stock in the first three months of 2012, which had a weighted average grant date fair value of $38.62 per share and generally vest ratably over a four-year period. Additionally, the Company granted approximately 0.3 million shares of restricted stock that contain a condition whereby the number of shares that ultimately vest are based on the achievement of certain non-market based performance metrics of the Company over a three-year period. The weighted average grant date fair value of these awards was $36.71 per share.

The following weighted average assumptions were used in determining the fair value for options granted in 2012:

Expected dividend yield		1.66	%
Expected stock volatility		44	%
Risk-free interest rate		1.55	%
Expected holding period		7.4 yrs
Grant date fair value	$	15.15

Unrecognized compensation expense at March 31, 2012 was $23.0 million and $84.9 million for stock options and nonvested restricted stock, respectively, which is expected to be recognized over a weighted average period of 1.5 years and 1.9 years, respectively. Additionally, there was $20.8 million of unrecognized compensation expense relating to the aforementioned non-market based performance awards which is expected to be recognized over a weighted average period of 1.1 years.

The following tables summarize information relating to stock option exercises and restricted stock vesting:

	Three Months Ended March 31,
	2012		2011
Stock option exercises:
Proceeds from stock option exercises	$	39.8	$	17.2
Aggregate intrinsic value	$	23.6	$	7.5
Tax benefit realized upon exercise	$	9.0	$	3.0

	Three Months Ended March 31,
	2012		2011
Restricted stock vesting:
Fair value of shares vested	$	36.1	$	18.3
Tax benefit realized upon vesting	$	12.8	$	6.8