Share-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2015

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

Awards granted during the period and assumptions used to determine fair value

Awards granted during the first six months of 2015 and assumptions used to determine fair value were as follows:

	MSUs			Performance Shares			RSUs
Awards granted	473,728			147,290			48,000
Weighted average fair value	$	30.06		$	30.63		$	27.69
Expected volatility	42.70		%	42.70		%	N/A
Risk-free rate (a)	1.09		%	1.09		%	N/A
Expected term (in years) (b)	2.95			2.95			N/A
Expected dividends	—			—			N/A

(a) The risk-free rate was based on zero coupon U.S. government issues at the time of grant.

(b) The expected term represents the period from the valuation date to the end of the performance period.