Share-Based Payments (Tables)

12 Months Ended

Dec. 31, 2017

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

Schedule of components of share-based compensation expense

	For the years ended
	December 31, 2017			December 31, 2016			December 31, 2015
	(In millions)
Pretax share-based compensation expense	$	58.3		$	32.3		$	20.7
Tax benefit(1)	(11.1		)	(10.0		)	(5.6		)
After-tax share-based compensation expense	$	47.2		$	22.3		$	15.1

Schedule of non-vested RSUs, PUs and DSUs outstanding and the activity for the period

	RSUs and DSUs		PSUs
	Units	Weighted-average grant date fair value per unit	Units	Weighted-average grant date fair value per unit
	(In millions, except per unit amounts)
Non-vested as of December 31, 2016	0.8	$87.01	0.5	$81.67
Granted	0.3	$92.00	0.2	$97.13
Vested	(0.3)	$79.86	(0.2)	$58.53
Converted(1)	0.3	$106.17	(0.1)	$106.17
Forfeited	(0.1)	$91.41	—	$—
Non-vested as of December 31, 2017	1.0	$95.80	0.4	$89.57

Schedule of stock options and SOSARs outstanding and the activity for the period

	Stock options and SOSARs
	Awards	Weighted- average exercise price	Weighted- average remaining contractual life (years)	Aggregate intrinsic value
	(In millions, except per share amounts and years)
Outstanding as of December 31, 2016	1.5	$59.79	5.4	$	58.2
Granted	0.2	$96.77
Exercised	(0.2)	$56.58
Forfeited	—	—
Outstanding as of December 31, 2017	1.5	$63.60	4.6	$	31.3
Expected to vest at December 31, 2017	0.3	$89.86	8.4	$	0.4
Exercisable at December 31, 2017	1.2	$56.23	3.5	$	30.9

Schedule of share-based compensation weighted average assumptions

The fair value of each option granted in 2017, 2016 and 2015 was determined on the date of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions:

	For the years ended
	December 31, 2017	December 31, 2016	December 31, 2015
Risk-free interest rate	2.04%	1.40%	1.70%
Dividend yield	1.64%	1.81%	2.20%
Volatility range	22.40% - 22.88%	23.16% - 24.64%	21.65% - 29.90%
Weighted-average volatility	22.52%	23.53%	23.71%
Expected term (years)	5.1	5.2	5.7
Weighted-average fair value	$18.66	$16.65	$13.98

Schedule of Share-based payment Award, Performance Share Units, Valuation Assumptions

The fair value of the market metric for each PSU granted in 2017, 2016 and 2015 was determined on the date of grant using a Monte Carlo model to simulate total stockholder return for MCBC and peer companies with the following weighted-average assumptions:

	For the years ended
	December 31, 2017	December 31, 2016	December 31, 2015
Risk-free interest rate	1.59%	1.04%	1.06%
Dividend yield	1.64%	1.81%	2.20%
Volatility range	13.71% - 80.59%	14.10% - 77.11%	12.73% - 62.28%
Weighted-average volatility	24.24%	23.68%	21.53%
Expected term (years)	2.8	2.8	2.8
Weighted-average fair market value	$97.13	$90.49	$74.42