Share Plans (Tables)

12 Months Ended

Dec. 31, 2013

Stock Option Activity

The following table summarizes stock option activity under all plans for the year ended December 31, 2013:

Shares and intrinsic value in millions	Number of shares		Weighted- average exercise price		Weighted- average remaining contractual life (years)	Aggregate intrinsic value
Outstanding as of January 1, 2013	8.4		$	32.13
Granted	1.0		50.83
Exercised	(2.9	)	30.84
Forfeited	(0.2	)	37.25
Expired	(0.1	)	28.82
Outstanding as of December 31, 2013	6.2		$	35.53	5.6	$	255.3
Options exercisable as of December 31, 2013	4.7		$	32.78	4.7	$	205.8
Options expected to vest as of December 31, 2013	1.5		$	44.27	8.5	$	48.0

Stock Option Fair Value Assumptions

We estimated the fair value of each stock option award on the date of grant using a Black-Scholes option pricing model, modified for dividends and using the following weighted average assumptions:

	December 31
	2013		2012				2011
	Granted by Pentair plans		Assumed in Merger		Granted by Pentair plans		Granted by Pentair plans
Risk-free interest rate	0.69	%	0.02 - 0.68%		0.96	%	1.51	%
Expected dividend yield	2.01	%	2.12	%	2.48	%	2.32	%
Expected share price volatility	36.0	%	33.0	%	36.5	%	35.5	%
Expected term (years)	5.7		0.1 - 5.1		5.7		5.5

Restricted Stock Activity

The following table summarizes restricted stock unit activity under all plans for the year ended December 31, 2013:

Shares in millions	Number of shares		Weighted average grant date fair value
Outstanding as of January 1, 2013	1.6		$	38.97
Granted	0.4		50.80
Vested	(0.5	)	34.49
Forfeited	(0.2	)	41.48
Outstanding as of December 31, 2013	1.3		$	43.25