Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2014

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

Components of the Company’s stock-based compensation expense

The following table summarizes the components of the Company’s stock-based compensation expense included in general and administrative expenses in the Consolidated Statements of Comprehensive Income for the three months ended March 31, 2014 and 2013:

		Three Months Ended
		March 31,
		2014			2013
	(In millions)
Total stock-based compensation expense:
Equity classified awards expense		$	3.2		$	3.2
Liability classified awards (credit) expense		(0.2		)	0.5
Total pre-tax stock-based compensation expense		3.0			3.7
Tax benefit		(1.1		)	(1.4		)
Total stock-based compensation expense, net of tax		$	1.9		$	2.3

Schedule of stock option valuation assumptions

The following summarizes the assumptions used in the Black-Scholes model:

Risk-free interest rate	1.57	%
Weighted average historical volatility	51.4	%
Dividend yield	3.68	%
Expected years until exercise	4.6
Forfeitures	11.0	%
Weighted average fair value of options granted	$27.02

Schedule of stock option activity

Stock option balances as of March 31, 2014 and activity related to stock options for the three months ended March 31, 2014 were as follows:

	Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in Years)	Aggregate Intrinsic Value
Outstanding at December 31, 2013	775,059		$	42.09
Granted	117,424		81.57
Exercised	(221,725	)	29.87
Forfeited	(1,889	)	72.28
Outstanding at March 31, 2014	668,869		52.99		6.7	$	17,200,000
Vested at March 31, 2014 and Expected to Vest	634,658		51.77		6.6	$	17,000,000
Exercisable at March 31, 2014	451,812		$	44.17	5.6	$	15,300,000

Schedule of restricted stock unit activity

Outstanding balances as of March 31, 2014 and activity related to restricted stock and restricted stock units for the three months ended March 31, 2014 were as follows:

	Restricted Stock		Weighted Average Grant Date Fair Value		Restricted Stock Units		Weighted Average Grant Date Fair Value
Outstanding at December 31, 2013	266,252		$	58.87	47,230		$	64.57
Granted	85,831		81.69		12,483		81.57
Released	(54,267	)	56.35		(14,784	)	72.28
Forfeited	(6,923	)	65.11		—		—
Outstanding at March 31, 2014	290,893		$	65.92	44,929		$	66.61