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Stock-based Compensation (Tables)
9 Months Ended
Sep. 30, 2016
Stock-based Compensation [Abstract]  
Compensation Cost and Related Tax Benefits



 

 

 

 

 

 

 

 

 

 

 

 



 

Three Months Ended September 30,

 

Nine Months Ended September 30,

(in millions)

 

2016

 

2015

 

2016

 

2015

Stock-based compensation expense

 

$

3.0 

 

$

1.9 

 

$

8.5 

 

$

9.4 

Tax benefit

 

 

(1.1)

 

 

(0.7)

 

 

(3.0)

 

 

(3.3)

Stock-based compensation expense, net of taxes

 

$

1.9 

 

$

1.2 

 

$

5.5 

 

$

6.1 



Summary of Stock Option Plan Activity



 

 

 

 

 

 

 

 

 

 



 

Nine Months Ended September 30,



 

2016

 

2015

(in whole shares and dollars)

 

Shares

 

 

Weighted Average Exercise Price

 

Shares

 

 

Weighted Average Exercise Price

Outstanding, beginning of period

 

1,619,948 

 

$

56.57 

 

2,236,620 

 

$

46.61 

Granted

 

524,940 

 

 

82.74 

 

663,900 

 

 

70.34 

Exercised

 

(564,389)

 

 

48.80 

 

(377,188)

 

 

45.66 

Forfeited or cancelled

 

(207,203)

 

 

68.23 

 

(117,640)

 

 

53.39 

Outstanding, end of period (1)

 

1,373,296 

 

 

68.01 

 

2,405,692 

 

 

52.98 

(1) Included in the table above in outstanding shares for the nine months ended September 30, 2015 were 128,334 options that were previously granted to the Company’s former CEO. These options subsequently forfeited in 2016 and are included above in the amounts forfeited or cancelled for the nine months ended September 30, 2016.

Summary of Restricted Stock Activity



 

 

 

 

 

 

 

 

 

 



 

Nine Months Ended September 30,



 

2016

 

2015

(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

 

301,897 

 

$

54.54 

 

384,923 

 

$

45.63 

Granted

 

143,107 

 

 

83.43 

 

92,409 

 

 

70.61 

Vested

 

(136,398)

 

 

42.49 

 

(119,117)

 

 

40.94 

Forfeited

 

(27,411)

 

 

68.07 

 

(31,573)

 

 

51.10 

Outstanding, end of period

 

281,195 

 

 

73.77 

 

326,642 

 

 

53.88 



 

 

 

 

 

 

 

 

 

 

Performance-based and market-based restricted stock units:

 

 

 

 

 

 

 

 

 

Outstanding, beginning of period

 

196,142 

 

$

47.89 

 

218,338 

 

$

44.24 

Granted

 

118,736 

 

 

73.14 

 

82,025 

 

 

48.55 

Vested

 

(144,141)

 

 

41.11 

 

(77,854)

 

 

38.82 

Forfeited

 

(63,740)

 

 

64.13 

 

(14,451)

 

 

44.68 

Outstanding, end of period (1)

 

106,997 

 

 

75.38 

 

208,058 

 

 

47.93 

(1) Included in the table above in outstanding shares for the nine months ended September 30, 2015 were 56,500 market-based restricted stock units that were previously granted to the Company’s former CEO. These units subsequently forfeited in 2016 and are included above in the amounts forfeited for the nine months ended September 30, 2016.