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Share-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2017
Share-based Compensation [Abstract]  
Schedule of compensation expense under stock based compensation plan
The compensation expense for nonvested share units under the Plan is as follows: 
 
Year Ended December 31,
(In millions)
2017
 
2016
 
2015
Share-based compensation expense
$
44.4

 
$
22.0

 
$
36.1

Income tax benefits related to share-based compensation expense
$
12.0

 
$
5.9

 
$
9.7
Schedule of unrecognized compensation cost, nonvested awards
As of December 31, 2017, the portion of share-based compensation expense related to outstanding awards to be recognized in future periods is as follows:
 
 
December 31, 2017
Share-based compensation expense not yet recognized (in millions)
 
$
77.9

Weighted-average recognition period (in years)
 
2.2
Summary of changes in nonvested stock awards
A summary of the nonvested performance share units awarded to employees as of December 31, 2017, and changes during the year is presented below:
(Shares in thousands)
Shares
 
Weighted-Average Grant
Date Fair Value
Nonvested at December 31, 2016
1,314.6

 
$
60.15

Adjustment due to FMC Technologies transaction (1)
1,306.0

 
$
—

Granted
855.2

 
$
31.65

Vested
(642.0
)
 
$
52.42

Cancelled/forfeited
(85.0
)
 
$
25.33

Nonvested at December 31, 2017
2,748.8

 
$
25.59

(1) The Weighted-Average Grant Date Fair Value for the increase in shares due to the merger remains at $0.00 in order to recalculate the new weighted average for the December 31, 2016 nonvested shares (see Note 2).
The following summarizes values for performance share activity to employees:
 
Year Ended December 31,
 
2017
 
2016
 
2015
Weighted average grant date fair value of performance shares granted
$
31.65

 
$
42.74

 
$
43.16

Vest date fair value of performance shares vested (in millions)
$
18.60

 
$
26.38

 
$
29.01

Restricted share units. A summary of the nonvested restricted share units awarded to employees as of December 31, 2017, and changes during the year is presented below:
(Shares in thousands)
Shares
 
Weighted-Average Grant
Date Fair Value
Nonvested at December 31, 2016
—

 
$
—

Assumed in the FMC Technologies Merger
213.1

 
$
35.85

Granted
1,516.9

 
$
27.54

Vested
—

 
$
—

Cancelled/forfeited
(7.7
)
 
$
35.85

Nonvested at December 31, 2017
1,722.3

 
$
28.53
Summary of restricted stock activity
The following summarizes values for restricted share unit activity to employees(1):
 
Year Ended December 31,
 
2017
Weighted average grant date fair value of restricted share units granted
$
27.54

Vest date fair value of restricted share units vested (in millions)
$
—
Schedule of weighted average assumptions
The weighted average assumptions for the option awards granted in the years ended December 31, 2017, 2016 and 2015 are as follows:
 
Year Ended December 31,
 
2017
 
2016
 
2015
Expected volatility
35.7
%
 
34.5
%
 
29.2
%
Expected term (in years)
6.5

 
4.2

 
4.2

Risk-free interest rate
2.1
%
 
—
%
 
1.1
%
Summary of option transactions
The following is a summary of option transactions during years ended December 31, 2017, 2016 and 2015:
(shares in thousands)
Number of shares
 
Weighted average exercise price
 
Weighted average remaining life
(in years)
Balance at December 31, 2014
2,520.5

 
€
60.03

 
2.7
Granted
568.6

 
€
47.83

 

Exercised
(561.7
)
 
€
37.87

 

Cancelled
(106.9
)
 
€
69.62

 

Balance at December 31, 2015
2,420.5

 
€
61.88

 
3.5
Granted
595.1

 
€
48.33

 

Exercised
(25.5
)
 
€
57.22

 

Cancelled
(801.3
)
 
€
52.43

 

Balance at December 31, 2016
2,188.8

 
€
61.72

 
5.0
Adjustment due to FMC Technologies transaction (1)

2,188.8

 
$
—

 

Granted
798.4

 
$
29.29

 

Exercised
—

 
$
—

 

Cancelled
(292.2
)
 
$
47.60

 

Balance at December 31, 2017
4,883.8

 
$
36.35

 
4.6
Exercisable at December 31, 2017
1,788.8

 
$
51.61

 
1.6
(1) The Weighted-Average Grant Date Fair Value for the increase in shares due to the merger remains at $0.00 in order to recalculate the new weighted average for the December 31, 2016 nonvested shares (see Note 2)
Summary of additional information concerning outstanding and exercisable options
The following summarizes additional information concerning outstanding and exercisable options at December 31, 2017 :
 
Options Outstanding
 
Options Exercisable
Exercise Price Range
Number of options
(in thousands)
 
Weighted average remaining life (in years)
 
Weighted average exercise price
 
Number of options
(in thousands)
 
Weighted average exercise price
$26.00 - $33.00
3,061.9

 
6.4
 
$
27.33

 
—

 
$
—

$45.00 - $51.00
1,277.0

 
1.0
 
$
49.23

 
1,244.0

 
$
49.33

$55.00 - $57.00
544.9

 
3.2
 
$
56.82

 
544.9

 
$
56.82

Total
4,883.8

 
4.6
 
$
36.35

 
1,788.9

 
$
51.61