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STOCK-BASED COMPENSATION (Tables)

6 Months Ended

Jun. 30, 2011

Stock-based compensation granted includes stock options, performance stock awards, restricted stock awards, and deferred directors’ compensation. Stock-based compensation expense was as follows:

	Three Months Ended June 30,						Six Months Ended June 30,
	2011			2010			2011		2010
	($ in millions)						($ in millions)
Stock-based compensation	$	2.7		$	3.7		$	4.8	$	5.7
Mark-to-market adjustments		(0.1	)		(0.6	)		0.8		0.2
Total expense	$	2.6		$	3.1		$	5.6	$	5.9

Schedule of fair value of stock options granted

The fair value of each stock option granted, which typically vests ratably over three years, but not less than one year, was estimated on the date of grant, using the Black-Scholes option-pricing model with the following weighted-average assumptions:

Grant date	2011			2010
Dividend yield		4.32	%		4.32	%
Risk-free interest rate		3.05	%		3.00	%
Expected volatility		42	%		42	%
Expected life (years)		7.0			7.0
Grant fair value (per option)	$	5.48		$	4.61
Exercise price	$	18.78		$	15.68
Shares granted		575,000			803,750

- 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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