SHARE-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2014

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

Summary of the components and classification of share-based compensation expense

The following table summarizes the components and classification of share-based compensation expense related to stock options and RSUs:



	2014		2013		2012
Stock options	$	18.2	$	17.3	$	21.7
RSUs	60.0		28.2		44.5
Share-based compensation expense	$	78.2	$	45.5	$	66.2

Research and development expenses	$	5.6	$	—	$	0.7
Selling, general and administrative expenses	72.6		45.5		65.5
Share-based compensation expense	$	78.2	$	45.5	$	66.2

Schedule of weighted-average assumption as of the date of grant using the Black Scholes option-pricing model

The fair values of all stock options granted during the years ended December 31, 2014, 2013 and 2012 were estimated as of the date of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions:



	2014		2013		2012
Expected stock option life (years)⁽¹⁾	5.8		4.0		4.0
Expected volatility⁽²⁾	43.0	%	40.1	%	44.9	%
Risk-free interest rate⁽³⁾	1.8	%	1.0	%	0.5	%
Expected dividend yield⁽⁴⁾	—	%	—	%	—	%

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(1)	Determined based on historical exercise and forfeiture patterns.


(2)	Determined based on implied volatility in the market traded options of the Company’s common stock.


(3)	Determined based on the rate at the time of grant for zero-coupon U.S. or Canadian government bonds with maturity dates equal to the expected life of the stock option.


(4)	Determined based on the stock option’s exercise price and expected annual dividend rate at the time of grant.

Summary of stock option activity

The following table summarizes stock option activity during the year ended December 31, 2014:



	Options		Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value
Outstanding, January 1, 2014	8.6		$	30.19
Granted	0.3		117.82
Exercised	(0.8	)	21.78
Expired or forfeited	(0.4	)	74.88
Outstanding, December 31, 2014	7.7		$	31.44	4.8	$	852.6
Vested and exercisable, December 31, 2014	5.7		$	17.75	4.0	$	720.6

Summary of non-vested time-based RSU activity

The following table summarizes non-vested time-based RSU activity during the year ended December 31, 2014:



	Time-Based RSUs		Weighted- Average Grant-Date Fair Value
Non-vested, January 1, 2014	0.9		$	39.11
Granted	0.1		137.71
Vested	(0.1	)	54.60
Non-vested, December 31, 2014	0.9		$	51.34

Schedule of assumptions used to calculate the fair values of performance-based RSUs

The fair values of performance-based RSUs granted during the years ended December 31, 2014, 2013 and 2012 were estimated with the following assumptions:



	2014	2013	2012
Contractual term (years)	2.6 - 6.3	2.8 - 4.3	2.9 - 4.3
Expected Company share volatility⁽¹⁾	38.7% - 45.4%	36.1% - 44.4%	42.5% - 52.3%
Risk-free interest rate⁽²⁾	0.8% - 2.3%	0.5% - 1.3%	0.6% - 1.0%

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(1)	Determined based on historical volatility over the contractual term of the performance-based RSU.


(2)	Determined based on the rate at the time of grant for zero-coupon U.S. government bonds with maturity dates equal to the contractual term of the performance-based RSUs.

Summary of non-vested performance-based RSU activity

The following table summarizes non-vested performance-based RSU activity during the year ended December 31, 2014:



	Performance- Based RSUs		Weighted- Average Grant-Date Fair Value
Non-vested, January 1, 2014	1.0		$	102.22
Granted	0.5		219.79
Vested	(0.2	)	61.80
Forfeited	(0.1	)	136.59
Non-vested, December 31, 2014	1.2		$	160.44