Employee Incentive Plans (Tables)

9 Months Ended

Sep. 30, 2015

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

Compensation expense relating to short term incentive plans

Total costs relating to STI Plans were recorded as follows for each period presented (in millions of dollars):

	Quarter Ended				Nine Months Ended
	September 30,				September 30,
	2015		2014		2015		2014
Cost of products sold, excluding depreciation and amortization and other items	$	1.0	$	1.3	$	3.2	$	3.8
SG&A and R&D	1.9		1.6		7.6		6.1
Total costs recorded in connection with STI Plans	$	2.9	$	2.9	$	10.8	$	9.9

The following table presents the allocation of the charges detailed above, by segment (in millions of dollars):

	Quarter Ended				Nine Months Ended
	September 30,				September 30,
	2015		2014		2015		2014
Fabricated Products	$	2.2	$	2.2	$	7.7	$	7.6
All Other	0.7		0.7		3.1		2.3
Total costs recorded in connection with STI Plans	$	2.9	$	2.9	$	10.8	$	9.9

Non-cash compensation expense

Non-cash compensation expense by type of award under LTI Programs were as follows for each period presented (in millions of dollars):

	Quarter Ended				Nine Months Ended
	September 30,				September 30,
	2015		2014		2015		2014
Non-vested common shares and restricted stock units	$	1.1	$	0.5	$	3.3	$	2.8
EVA-Based Performance Shares	0.1		—		0.8		1.0
TSR-Based Performance Shares	1.0		0.4		2.7		1.4
Total non-cash compensation expense	$	2.2	$	0.9	$	6.8	$	5.2

The following table presents the allocation of the charges detailed above, by segment (in millions of dollars):

	Quarter Ended				Nine Months Ended
	September 30,				September 30,
	2015		2014		2015		2014
Fabricated Products	$	0.8	$	0.5	$	2.4	$	2.6
All Other	1.4		0.4		4.4		2.6
Total non-cash compensation expense	$	2.2	$	0.9	$	6.8	$	5.2

Unrecognized gross compensation cost data

The following table presents unrecognized gross compensation cost data by type of award as of September 30, 2015:

	Unrecognized gross compensation costs (in millions of dollars)		Expected period (in years) over which the remaining gross compensation costs will be recognized
Non-vested common shares and restricted stock units	$	6.9	2.0
EVA-Based Performance Shares	$	0.6	0.5
TSR-Based Performance Shares	$	8.8	2.1

Summary of activity of non-vested common shares, restricted stock units, and performance shares

A summary of the activity with respect to non-vested common shares, restricted stock units, EVA-Based Performance Shares and TSR-Based Performance Shares for the nine months endedSeptember 30, 2015 was as follows:

	Non-Vested Common Shares				Restricted Stock Units				EVA-Based Performance Shares				TSR-Based Performance Shares
	Shares		Weighted-Average Grant-Date Fair Value per Share		Units		Weighted-Average Grant-Date Fair Value per Unit		Shares		Weighted-Average Grant-Date Fair Value per Share		Shares		Weighted-Average Grant-Date Fair Value per Share
Outstanding at December 31, 2014	158,770		$	59.88	5,357		$	59.71	353,576		$	50.35	150,223		$	83.18
Granted1	62,285		72.09		2,325		69.83		—		—		150,424		95.68
Vested	(58,241	)	52.76		(2,161	)	52.91		(48,648	)	44.48		—		—
Forfeited1	(793	)	67.83		—		—		(432	)	57.54		(770	)	89.12
Canceled1	—		—		—		—		(146,016	)	44.48		—		—
Outstanding at September 30, 2015	162,021		$	67.09	5,521		$	66.64	158,480		$	57.75	299,877		$	89.43

____________

¹  For EVA-Based Performance Shares and TSR-Based Performance Shares, the number of shares granted and forfeited are presented at their maximum payout; and the number of shares canceled includes the number of shares that did not vest due to EVA performance results falling below those required for maximum payout.