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Share-based Compensation Plans (Tables)
 12 Months Ended
Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Nonvested share activity
Compensation expenses for the last three years and the amount of unrecognized expense for awards outstanding at December 31, 2015, were as follows:
 
 
Compensation Expense
 
Unrecognized Expense for Nonvested Awards at
 
Weighted-average No. of Years Unrecognized Expense to be Recognized
 
Years Ended December 31,
 
Dec 31, 2015
 
 
(in millions except years)
2015
 
2014
 
2013
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Performance Share Units
$
8.1

 
6.8

 
4.0

 
$
7.1

 
1.8
Market Share Units
2.3

 
1.6

 
1.8

 
1.4

 
2.0
Restricted Stock Units
3.2

 
6.0

 
3.1

 
2.8

 
1.5
Deferred Stock Units
0.5

 
0.6

 
0.5

 
0.2

 
0.4
Stock Options
—

 
2.3

 
0.5

 
—

 
0.0
Share-based payment expense
14.1

 
17.3

 
9.9

 
 
 
 
Income tax benefit
(4.6
)
 
(5.6
)
 
(3.4
)
 
 
 
 
Share-based payment expense, net of tax
$
9.5

 
11.7

 
6.5

 
 
 
 
Share-based Compensation, Fair Value of Shares Vested
The fair value of shares vested in the last three years is as follows:
 
Fair Value of Shares Vested(a)
 
Years Ended December 31,
(in millions)
2015
 
2014
 
2013
 
 
 
 
 
 
Restricted Stock Units
5.3

 
4.1

 
4.1

Deferred Stock Units
0.2

 
0.3

 
—

Stock Options
1.1

 
0.1

 
2.0

Total
6.6

 
4.5

 
6.1


(a)
No Performance Share Units and no Market Share Units had vested as of December 31, 2015. Intrinsic value for Stock Options.
Option Activity
The table below summarizes additional information related to all plans for options of our stock:
 
Shares
(in thousands)
 
Weighted- Average
Exercise Price Per Share
 
Weighted- Average
Remaining Contractual
Term (in years)
 
Aggregate Intrinsic Value(a)
(in millions)
 
 
 
 
 
 
 
 
Outstanding at December 31, 2014
844.8

 
$
25.88

 
 
 
 

Forfeited or expired
(6.8
)
 
28.32

 
 
 
 

Exercised
(149.7
)
 
25.20

 
 
 
 

Outstanding at December 31, 2015(b)
688.3

 
26.01

 
1.8
 
$
2.8

 
 
 
 
 
 
 
 
Of the above, as of December 31, 2015:
 

 
 

 
 
 
 

Exercisable
688.3

 
$
26.01

 
1.8
 
$
2.8


(a)
The intrinsic value of a stock option is the difference between the market price of the shares underlying the option and the exercise price of the option.  The market price at December 31, 2015 was $28.86.
(b)
There were 0.7 million shares of exercisable options with a weighted-average exercise price of $26.44 per share at December 31, 2014 and 1.2 million shares of exercisable options with a weighted-average exercise price of $30.92 per share at December 31, 2013.
Restricted Stock Units  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Nonvested share activity
The following table summarizes RSU activity during 2015:
 
Shares
(in thousands)
 
Weighted-Average Grant Date Fair Value
 
 
 
 
Nonvested balance as of December 31, 2014
367.1

 
$
25.87

Activity from January 1 to December 31, 2015:
 

 
 
Granted
144.7

 
27.09

Forfeited
(57.2
)
 
26.05

Vested
(181.6
)
 
26.37

Nonvested balance as of December 31, 2015
273.0

 
$
26.16
Performance Shares PSU  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Nonvested share activity
The following table summarizes all PSU activity during 2015:
 
Shares
(in thousands)
 
Weighted-Average Grant Date Fair Value
 
 
 
 
Nonvested balance as of December 31, 2014
343.6

 
$
24.06

Activity from January 1 to December 31, 2015:
 

 
 
Granted
199.1

 
29.10

Forfeited
(39.3
)
 
25.69

Nonvested balance as of December 31, 2015
503.4

 
$
25.93
Fair value of options calculation assumptions
The following table provides the terms and weighted average assumptions used in the valuation of those PSUs containing a market condition:
Terms and Assumptions Used to Estimate Fair Value of PSUs
PSUs Granted in 2015
 
PSUs Granted in 2014
 
PSUs Granted in 2013
Date of Measurement
February 20, 2015(a)
 
July 11, 2014(b)
 
July 11, 2014(b)
 
 
 
 
 
 
Terms of awards:
 
 
 
 
 
Performance period
Jan. 1, 2015 to
 
Jan. 1, 2014 to
 
April 1, 2013 to
 
Dec. 31, 2017
 
Dec. 31, 2016
 
Dec. 31, 2015
Beginning average price of Brink’s common stock
$
23.19

 
33.29

 
27.59

 
 
 
 
 
 
Assumptions used to estimate fair value:
 

 
 

 
 

Expected dividend yield(c)
—
%
 
—
%
 
—
%
Expected stock price volatility
30
%
 
32
%
 
28
%
Risk-free interest rate
1.0
%
 
0.7
%
 
0.3
%
Contractual term in years
2.8

 
2.5

 
1.5

 
 
 
 
 
 
Weighted-average fair value estimate per share
$
28.97

 
24.39

 
23.68

 
(a)
Represents the date awards were granted to employee.
(b)
Represents the date the recoupment policy was amended (see Recoupment Policy Change in 2014 above) and an additional goal was added (see 2014 Additional Performance Goal for the 2013 and 2014 PSU Grants above).  The employees and employer are deemed to have a mutual understanding of the terms of the award at this date.
(c)
PSUs are not entitled to dividends during the performance period.
Market Share Units MSU  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Nonvested share activity
The following table summarizes all MSU activity during 2015:
 
Shares
(in thousands)
 
Weighted-Average Grant Date Fair Value
 
 
 
 
Nonvested balance as of December 31, 2014
163.3

 
$
25.47

Activity from January 1 to December 31, 2015:
 

 
 
Granted
108.6

 
30.37

Forfeited
(13.1
)
 
27.86

Nonvested balance as of December 31, 2015
258.8

 
$
27.40
Fair value of options calculation assumptions
The following table provides the terms and the weighted average assumptions used in the valuation of the MSUs:
Terms and Assumptions Used to Estimate Fair Value of MSUs
MSUs Granted in 2015
 
MSUs Granted in 2014
 
MSUs Granted in 2013
Date of Measurement
February 20, 2015(a)
 
July 11, 2014(b)
 
July 11, 2014(b)
 
 
 
 
 
 
Terms of awards:
 
 
 
 
 
Performance period
Jan. 1, 2015 to
 
Jan. 1, 2014 to
 
April 1, 2013 to
 
Dec. 31, 2017
 
Dec. 31, 2016
 
Dec. 31, 2015
Beginning average price of Brink’s common stock
$
23.19

 
33.29

 
27.59

 
 
 
 
 
 
Assumptions used to estimate fair value:
 

 
 

 
 

Expected dividend yield(c)
—
%
 
—
%
 
—
%
Expected stock price volatility
30
%
 
32
%
 
28
%
Risk-free interest rate
1
%
 
0.7
%
 
0.3
%
Contractual term in years
2.8

 
2.5

 
1.5

 
 
 
 
 
 
Weighted-average fair value estimate per share
$
30.37

 
23.34

 
27.30


(a)
Represents the date awards were granted to employee.
(b)
Represents the date the recoupment policy was amended (see Recoupment Policy Change in 2014 above).  The employees and employer are deemed to have a mutual understanding of the terms of the award at this date.
(c)
MSUs are not entitled to dividends during the performance period.
Stock Options  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Nonvested share activity
The table below summarizes the activity in all plans for options of our stock.
 
Shares
(in thousands)
 
Weighted-Average Grant Date Fair Value
 
 
 
 
Outstanding balance as of December 31, 2014
844.8

 
$
5.83

Activity from January 1 to December 31, 2015:
 

 
 
Forfeited or expired
(6.8
)
 
1.75

Exercised
(149.7
)
 
3.96

Outstanding balance as of December 31, 2015
688.3

 
$
6.28
Deferred Stock Units  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Nonvested share activity
The following table summarizes all DSU activity during 2015:
 
Shares
(in thousands)
 
Weighted-Average Grant-Date Fair Value
 
 
 
 
Nonvested balance as of December 31, 2014
28.3

 
$
24.70

Granted
21.4

 
32.79

Vested
(28.3
)
 
24.70

Nonvested balance as of December 31, 2015
21.4

 
$
32.79