Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2015

Pre-Tax Stock-Based Compensation Expense from Continuing Operations

Pre-tax stock-based compensation expense from continuing operations was as follows:

(In millions)	2015		2014		2013
Stock option awards	$	7.4	$	7.8	$	7.9
Restricted stock units		13.4		11.8		9.6
Performance awards		5.9		7.6		6.5
Director awards		0.9		0.9		0.9
Total pre-tax expense		27.6		28.1		24.9
Tax benefit		9.9		10.5		9.1
Total after tax expense	$	17.7	$	17.6	$	15.8

Restricted Stock Units Activity

A summary of activity with respect to restricted stock units outstanding under the Plans for the year ended December 31, 2015 was as follows:

	Number of Restricted Stock Units			Weighted-Average Grant-Date Fair Value
Non-vested at December 31, 2014		842,937		$	30.79
Granted		427,715			47.38
Vested		(516,990	)		24.44
Forfeited		(67,636	)		43.30
Non-vested at December 31, 2015		686,026		$	44.69

Black-Scholes Option Pricing Model Assumptions used to Estimate Fair Value of Options

The fair value of Fortune Brands options was estimated at the date of grant using a Black-Scholes option pricing model with the assumptions shown in the following table:

	2015		2014		2013
Current expected dividend yield		1.5%		1.5%		1.5%
Expected volatility		27.0%		32.0%		32.0%
Risk-free interest rate		1.8%		1.9%		1.1%
Expected term		6 years		6 years		6 years

Stock Option Activity

A summary of Fortune Brands stock option activity related to Fortune Brands and our Former Parent employees for the year ended December 31, 2015 was as follows:

	Options			Weighted- Average Exercise Price
Outstanding at December 31, 2014		7,879,778		$	16.60
Granted		651,700			47.73
Exercised		(2,223,962	)		12.99
Expired/forfeited		(107,990	)		41.14
Outstanding at December 31, 2015		6,199,526		$	20.74

Options Outstanding and Exercisable

Options outstanding and exercisable at December 31, 2015 were as follows:

	Options Outstanding(a)						Options Exercisable(b)
Range Of Exercise Prices	Options Outstanding		Weighted- Average Remaining Contractual Life		Weighted- Average Exercise Price		Options Exercisable		Weighted- Average Exercise Price
$9.00 to $12.99		2,391,073		3.4	$	11.02		2,391,073	$	11.02
13.00 to 20.00		2,191,678		5.5		15.64		2,191,678		15.64
20.01 to 47.87		1,616,775		8.2		42.02		508,623		36.66
		6,199,526		5.4	$	20.74		5,091,374	$	15.57

^(a)  At December 31, 2015, the aggregate intrinsic value of options outstanding was $215.5 million.

^(b)  At December 31, 2015, the weighted-average remaining contractual life of options exercisable was 4.7 years and the aggregate intrinsic value of options exercisable was $203.3 million.

Summarizes Information of Performance Share Awards

The following table summarizes information about performance share awards as of December 31, 2015, as well as activity during the year then ended, based on the target award amounts in the performance share award agreements:

	Number of Performance Share Awards			Weighted-Average Grant-Date Fair Value
Non-vested at December 31, 2014		595,700		$	30.06
Granted		163,400			47.52
Vested		(268,390	)		19.47
Forfeited		(47,610	)		37.10
Non-vested at December 31, 2015		443,100		$	42.15