XML 63 R46.htm IDEA: XBRL DOCUMENT v3.3.1.900
Share-Based Incentive Compensation Plans (Tables)
 12 Months Ended
Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of valuation assumptions
The fair value of stock options is estimated using the Black-Scholes option pricing model. The following is a summary of the assumptions used in this model for the stock options granted during the year ended December 31, 2015:
Expected volatility
28.6
%
Expected term (in years)
6.02

Strike price
$
37.60

Risk-free interest rate
2.1
%
Expected dividend yield
0.11
%
Weighted average estimated fair value
$
11.89
Schedule of compensation cost recognized and related income tax benefit for stock based compensation plans
The following table summarizes share-based compensation expense, which includes expenses related to awards granted under the Omnibus Plans, Director Plan, Phantom Plan and ING Group share-based compensation plans for the periods indicated:
 
Year Ended December 31,
 
2015
 
2014
 
2013
RSUs (1)
$
54.8

 
$
45.4

 
$
24.2

RSUs - Deal incentive awards
2.1

 
8.5

 
29.5

PSU awards(2)
45.2

 
60.1

 
40.6

Stock options
0.6

 
—

 
0.8

Phantom Plan
4.0

 
4.2

 
—

Total
106.7

 
118.2

 
95.1

Income tax benefit(3)
37.3

 
41.4

 
—

Share-based compensation
$
69.4

 
$
76.8

 
$
95.1

(1) This table includes compensation costs of $0.8, $6.9 and $14.9 for ING Group RSUs awarded under the LSPP for the years ended December 31, 2015, 2014 and 2013, respectively.
(2) This table includes compensation costs of $7.9, $30.6 and $24.5 for ING Group PSUs awarded under the LSPP for the years ended December 31, 2015, 2014 and 2013, respectively.
(3) The Company recognized no income tax benefit due to valuation allowances for the year ended December 31, 2013. See the Income Taxes Note to these Consolidated Financial Statements for additional information.
Schedule of summary of the fair value of awards vested
The following tables summarize the number of awards under the Omnibus Plans for the periods indicated:
 
RSUs
 
RSUs - Deal Incentive Awards
 
PSU Awards
 
Stock Options
(awards in millions) 
Number of Awards
 
Weighted Average Grant Date Fair Value
 
Number of Awards
 
Weighted Average Grant Date Fair Value
 
Number of Awards(1)
 
Weighted Average Grant Date Fair Value
 
Number of Awards(2)
 
Weighted Average Grant Date Fair Value
Outstanding at January 1, 2015
3.2

 
$
28.80

 
—

 
$
—

 
0.6

 
$
37.01

 
—

 
$
—

Adjusted for PSU performance factor
N/A

 
N/A

 
N/A

 
N/A

 
0.2

 
37.08

 
—

 
—

Granted
1.3

 
44.06

 
0.1

 
30.03

 
0.9

 
44.22

 
3.8

 
11.89

Vested
(0.8
)
 
26.66

 
(0.1
)
 
30.03

 
(0.8
)
 
37.15

 
—

 
—

Forfeited
(0.2
)
 
33.24

 
—

 
—

 
(0.1
)
 
43.25

 
—

 
—

Outstanding at December 31, 2015 
3.5

 
$
34.81

 
—

 
$
—

 
0.8

 
$
44.21

 
3.8

 
$
11.89

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Awards expected to vest as of December 31, 2015
3.5

 
$
34.81

 
—

 
$
—

 
0.8

 
$
44.21

 
3.8

 
$
11.89

(1)Based upon performance through December 31, 2015, recipients of performance awards would be entitled to 107.0% of shares at the vesting date. The performance awards are included in the preceding table as if the participants earn shares equal to 100% of the units granted.
(2)Vesting of stock options is contingent on satisfaction of specified performance conditions on or before December 31, 2018. As of December 31, 2015, none of the performance conditions have been satisfied. 

 
RSUs
 
RSUs - Deal Incentive Awards
 
PSU Awards
 
Stock Options
Unrecognized compensation cost
$
47.1

 
$
—

 
$
8.0

 
$
44.6

Expected remaining weighted-average period of expense recognition (in years)
1.5

 
—

 
0.3

 
3.0