XML 36 R23.htm IDEA: XBRL DOCUMENT v3.7.0.1
Share Tracking Awards Plans (Tables) - Share tracking award plans (STAP)
6 Months Ended
Jun. 30, 2017
Awards granted under the STAP  
Schedule of assumptions to measure the fair value of outstanding STAP awards

 

 

 

June 30,
2017

 

June 30,
2016

 

Expected volatility

 

35.5

%

36.9

%

Risk-free interest rate

 

1.4

%

0.7

%

Expected term of awards (in years)

 

2.1

 

3.0

 

Expected dividend yield

 

0.0

%

0.0

%

 

Summary of the activity and status of STAP awards

 

 

 

Number of
Awards

 

Weighted
Average
Exercise
Price

 

Weighted
Average
Remaining
Contractual
Term
(in Years)

 

Aggregate
Intrinsic
Value
(in millions)

 

Outstanding at January 1, 2017

 

5,113,838

 

$

91.51

 

 

 

 

 

Granted

 

 

 

 

 

 

 

Exercised

 

(631,922

)

72.28

 

 

 

 

 

Forfeited

 

(106,677

)

106.77

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at June 30, 2017

 

4,375,239

 

$

93.91

 

6.1

 

$

197.3

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercisable at June 30, 2017

 

2,650,832

 

$

95.81

 

5.9

 

$

114.6

 

 

 

 

 

 

 

 

 

 

 

 

 

Unvested as of June 30, 2017

 

1,724,407

 

$

91.00

 

6.3

 

$

82.7

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Schedule of share-based compensation benefit recognized in connection with STAP awards

 

Share-based compensation benefit recognized in connection with STAP awards is as follows (in millions):

 

 

 

Three Months Ended
June 30,

 

Six Months Ended
June 30,

 

 

 

2017

 

2016

 

2017

 

2016

 

Cost of product sales

 

$

(0.9

)

$

(0.2

)

$

(2.6

)

$

(12.2

)

Research and development

 

(2.9

)

(2.3

)

(8.7

)

(39.7

)

Selling, general and administrative

 

(11.1

)

(11.9

)

(28.2

)

(110.4

)

 

 

 

 

 

 

 

 

 

 

Share-based compensation benefit before taxes

 

$

(14.9

)

$

(14.4

)

$

(39.5

)

$

(162.3

)

Related income tax expense

 

5.5

 

7.4

 

14.5

 

59.7

 

 

 

 

 

 

 

 

 

 

 

Share-based compensation benefit, net of taxes

 

$

(9.4

)

$

(7.0

)

$

(25.0

)

$

(102.6

)