Share-Based Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Activity for the 2013 New Company LTIP, 04 Plan, the 07 Incentive Plan and awards made outside of share-based compensation plans for the years ended December 31, 2014, 2013 and 2012, is presented below (in thousands, except per common share data):



	Market Condition (Performance-Based) Awards				Service Period Awards				Total
	Number of Shares		Weighted Average Grant Date Fair Value		Number of Shares		Weighted Average Grant Date Fair Value		Number of Shares		Weighted Average Grant Date Fair Value
Balance as of December 31, 2011	112		$	43.76	307		$	38.63	419		$	40.01
Granted	—		$	—	182		$	51.99	182		$	51.99
Vested	(52	)	$	41.31	(169	)	$	45.85	(221	)	$	44.77
Canceled/forfeited	—		$	—	(1	)	$	39.12	(1	)	$	39.12
Balance as of December 31, 2012	60		$	45.90	319		$	42.42	379		$	42.97
Granted	324		$	53.71	287		$	67.55	611		$	60.21
Vested	(60	)	$	45.90	(256	)	$	59.54	(316	)	$	53.90
Canceled/forfeited	—		$	—	(1	)	$	38.75	(1	)	$	38.75
Balance as of December 31, 2013	324		$	53.71	349		$	53.58	673		$	53.64
Granted	—		$	—	26		$	88.58	26		$	88.58
Vested	(239	)	$	53.49	(107	)	$	54.15	(346	)	$	53.70
Canceled/forfeited	—		$	—	(12	)	$	60.41	(12	)	$	60.41
Balance as of December 31, 2014	85		$	54.32	256		$	56.24	341		$	55.77

Activity for stock options granted by the Company during the years ended December 31, 2014, 2013 and 2012 is presented below (in thousands, except per common share data):



	Number of Shares Under Option		Weighted Average Exercise Price
Balance as of December 31, 2011	354		$	36.52
Granted	—		$	—
Exercises	(153	)	$	36.80
Canceled/forfeited	—		$	—
Balance as of December 31, 2012	201		$	36.30
Granted	—		$	—
Exercises	(7	)	$	42.94
Canceled/forfeited	(1	)	$	36.12
Balance as of December 31, 2013	193		$	36.04
Granted	—		$	—
Exercises	(182	)	$	35.26
Canceled/forfeited	(1	)	$	49.95
Balance as of December 31, 2014	10		$	48.63

Disclosure of share based compensation award activity

The following table summarizes information about stock options outstanding as of December 31, 2014 (in thousands, except contractual life and per share data):



	Shares Under Option	Remaining Contractual Life	Average Exercise Price Per Share		Intrinsic Value per Share⁽¹⁾		Aggregate Intrinsic Value
Options exercisable and vested at December 31, 2014	10	3.2	$	48.63	$	46.67	$	483


(1)	Computed based upon the amount by which the fair market value of the Company’s common stock at December 31, 2014 of $95.30 per share exceeded the weighted average exercise price.

estimates the fair value of the stock options as of the date of grant, using the Black-Scholes option pricing model.

- Definition

Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

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