SHARE-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2017

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

Schedule of Authorized Number of Shares

The 2012 Stock Plan authorized 2,400,000 shares for issuance as follows:

2012 Stock Plan	Authorized Shares
Stock Options	1,680,000
Stock/Stock Unit Awards	720,000

The Company also maintains the Amended and Restated Franklin Electric Co., Inc. Stock Plan (the “2009 Stock Plan”) which, as amended in 2009, provided for discretionary grants of stock options and stock awards. The 2009 Stock Plan authorized 4,400,000 shares for issuance as follows:

2009 Stock Plan	Authorized Shares
Stock Options	3,200,000
Stock Awards	1,200,000

Schedule of Assumptions Used to Determine the Fair Value of Options Granted

The table below provides the weighted average grant-date fair values and key assumptions used for the Black-Scholes model to determine the fair value of options granted during 2017, 2016, and 2015:

	2017			2016			2015
Risk-free interest rate	1.89		%	1.21		%	1.59		%
Dividend yield	0.94		%	1.32		%	0.95		%
Volatility factor	31.19		%	37.70		%	37.90		%
Expected term	5.5 years			5.5 years			5.5 years
Weighted average grant-date fair value of options	$	12.30		$	9.18		$	12.34

Schedule of Stock Option Plans Activity

A summary of the Company’s outstanding stock option activity and related information is as follows:

(Shares in thousands)
Stock Options	Shares		Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term	Aggregate Intrinsic Value (000’s)
Outstanding at beginning of 2017	1,455		$	25.02
Granted	192		42.49
Exercised	(256	)	17.56
Forfeited	(2	)	35.99
Expired	(1	)	43.27
Outstanding at end of 2017	1,388		$	28.79	5.46 years	$	23,756
Expected to vest after applying forfeiture rate	1,371		$	28.69	5.42 years	$	23,600
Vested and exercisable at end of period	903		$	24.73	4.08 years	$	19,119

(In millions)	2017		2016		2015
Intrinsic value of options exercised	$	6.2	$	5.2	$	1.7
Cash received from the exercise of options	4.5		5.2		2.0
Fair value of shares vested	2.1		1.7		1.4
Tax benefit of options exercised	2.1		1.9		0.7

Schedule of Restricted Stock/Stock Unit Award Activity

A summary of the Company’s restricted stock/stock unit award activity and related information is as follows:

(Shares in thousands)
Restricted Stock/Stock Unit Awards	Shares		Weighted-Average Grant- Date Fair Value
Non-vested at beginning of 2017	473		$	34.89
Awarded	136		42.23
Vested	(109	)	35.81
Forfeited	(37	)	36.51
Non-vested at end of 2017	463		$	36.71