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Stock-based Compensation (Tables)
6 Months Ended
Jun. 30, 2014
Stock-based Compensation [Abstract]  
Compensation Cost and Related Tax Benefits

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Six Months Ended

 

 

June 30,

 

June 30,

(in millions)

 

2014

 

2013

 

2014

 

2013

Stock-based compensation expense

 

$

3.8 

 

$

2.1 

 

$

7.3 

 

$

5.7 

Tax benefit

 

 

(1.4)

 

 

(0.7)

 

 

(2.6)

 

 

(2.0)

Stock-based compensation expense, net of taxes

 

$

2.4 

 

$

1.4 

 

$

4.7 

 

$

3.7 

 

Summary of Stock Option Plan Activity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Six Months Ended June 30,

 

 

2014

 

2013

(in whole shares and dollars)

 

Shares

 

 

Weighted Average Exercise Price

 

Shares

 

 

Weighted Average Exercise Price

Outstanding, beginning of period

 

2,049,173 

 

$

41.18 

 

2,892,882 

 

$

38.28 

Granted

 

683,200 

 

 

58.02 

 

537,300 

 

 

42.51 

Exercised

 

(243,491)

 

 

38.66 

 

(798,790)

 

 

32.84 

Forfeited or cancelled

 

(34,085)

 

 

41.84 

 

(164,500)

 

 

41.74 

Outstanding, end of period

 

2,454,797 

 

 

46.10 

 

2,466,892 

 

 

40.74 

 

Summary of Restricted Stock Activity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Six Months Ended June 30,

 

 

2014

 

2013

(in whole shares and dollars)

 

Shares

 

 

Weighted Average Grant Date Fair Value

 

Shares

 

 

Weighted Average Grant Date Fair Value

Time-based restricted stock units:

 

 

 

 

 

 

 

 

 

 

Outstanding, beginning of period

 

525,980 

 

$

41.20 

 

750,837 

 

$

40.15 

Granted

 

94,240 

 

 

58.02 

 

130,912 

 

 

42.80 

Vested

 

(202,006)

 

 

42.09 

 

(259,440)

 

 

39.60 

Forfeited

 

(9,300)

 

 

40.73 

 

(37,257)

 

 

40.49 

Outstanding, end of period

 

408,914 

 

 

44.65 

 

585,052 

 

 

40.96 

 

 

 

 

 

 

 

 

 

 

 

Performance-based and market-based restricted stock units:

 

 

 

 

 

 

 

 

 

Outstanding, beginning of period

 

184,626 

 

$

40.42 

 

132,775 

 

$

39.97 

Granted

 

60,338 

 

 

55.73 

 

79,850 

 

 

41.67 

Vested

 

(22,826)

 

 

44.78 

 

 -

 

 

 -

Forfeited

 

(3,800)

 

 

37.90 

 

(22,700)

 

 

40.83 

Outstanding, end of period

 

218,338 

 

 

44.24 

 

189,925 

 

 

40.58