Share-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2016

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 nine months of 2016, weighted average fair value, and assumptions used to determine fair value were as follows:

	MSUs			Performance Shares			RSUs
Awards granted	800,834			213,626			66,000
Weighted average fair value	$	19.59		$	21.10		$	23.47
Expected volatility	34.02		%	34.02		%	N/A
Risk-free rate (a)	0.86		%	0.86		%	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.