XML 47 R33.htm IDEA: XBRL DOCUMENT v3.6.0.2
Employee Incentive Plans (Tables)
 12 Months Ended
Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Non-cash compensation expense
Non-cash compensation expense by type of award under LTI Programs was as follows for each period presented (in millions of dollars):
 
Year Ended December 31,
 
2016
 
2015
 
2014
Non-vested common shares and restricted stock units
$
4.7

 
$
4.4

 
$
3.9

TSR-Based Performance Shares
5.4

 
4.0

 
1.9

CP-Based Performance Shares
1.3

 
—

 
—

EVA-Based Performance Shares
0.3

 
0.9

 
1.0

Total non-cash compensation expense
$
11.7

 
$
9.3

 
$
6.8

The following table presents the allocation of the charges detailed above, by segment (in millions of dollars):
 
Year Ended December 31,
 
2016
 
2015
 
2014
Fabricated Products
$
4.2

 
$
3.5

 
$
3.2

All Other
7.5

 
5.8

 
3.6

Total non-cash compensation expense
$
11.7

 
$
9.3

 
$
6.8
Unrecognized gross compensation cost data
Unrecognized Gross Compensation Cost Data. The following table presents unrecognized gross compensation cost data by type of award as of December 31, 2016:
 
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
$
5.9

 
1.7
TSR-Based Performance Shares
$
6.3

 
1.6
CP-Based Performance Shares
$
3.4

 
2.2
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, TSR-Based Performance Shares, CP-Based Performance Shares and EVA-Based Performance Shares for the year ended December 31, 2016 is as follows:
 
Non-Vested
Common Shares
 
Restricted
Stock Units
 
TSR-Based Performance
Shares
 
CP-Based Performance Shares
 
EVA-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
 
Shares
 
Weighted-Average
Grant-Date Fair
Value per Share
Outstanding at December 31, 2015
156,553

 
$
67.20

 
5,521

 
$
66.64

 
299,877

 
$
89.43

 
—

 
$
—

 
155,105

 
$
57.76

Granted 1
9,702

 
86.11

 
59,105

 
75.29

 
95,974

 
93.02

 
63,983

 
80.46

 
—

 
—

Vested
(51,218
)
 
65.59

 
(2,097
)
 
63.02

 
—

 
—

 
—

 
—

 
(49,611
)
 
57.76

Forfeited 1
(379
)
 
69.18

 
(729
)
 
74.49

 
(1,326
)
 
90.53

 
(305
)
 
80.46

 
—

 
—

Canceled 1
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
(105,494
)
 
57.76

Outstanding at December 31, 2016
114,658

 
$
69.51

 
61,800

 
$
74.94

 
394,525

 
$
90.30

 
63,678

 
$
80.46

 
—

 
$
—


_____________________
1. 
For TSR-Based Performance Shares, CP-Based Performance Shares and EVA-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. Non-vested common shares and 1,900 restricted stock units granted in 2016 were granted under the 2016 Plan.
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value
The weighted-average grant-date fair value per share for shares granted by type of award was as follows for each period presented:
 
Year Ended December 31,
 
2016
 
2015
 
2014
Non-vested common shares
$
86.11

 
$
72.09

 
$
66.42

Restricted stock units
$
75.29

 
$
69.83

 
$
67.42

TSR-Based Performance Shares
$
93.02

 
$
95.68

 
$
83.18

CP-Based Performance Shares
$
80.46

 
$
—

 
$
—