Stock-Based Compensation

6 Months Ended

Jun. 30, 2011

Stock-based Compensation

Stock-Based Compensation

11. Stock-based Compensation

Compensation cost and the related tax benefits were as follows:

	Quarter Ended June  30,						Six Months Ended June  30,
(In millions)	2011			2010			2011			2010
Stock-based compensation expense	$	2.6		$	2.7		$	6.0		$	5.5
Tax benefit		(0.9	)		(0.9	)		(2.1	)		(1.9	)
Stock-based compensation expense, net of taxes	$	1.7		$	1.8		$	3.9		$	3.6

Stock Options

Information on the Company's stock option plan activity is summarized as follows:

	Six Months Ended June 30,
	2011					2010
(In whole shares and dollars)	Shares			Weighted Average Exercise Price		Shares			Weighted Average Exercise Price
Outstanding, beginning of period		2,843,909		$	39.22		3,131,142		$	39.16
Granted		297,000			46.47		389,750			42.45
Exercised		(118,014	)		33.13		(83,420	)		34.98
Forfeited or cancelled		(18,250	)		37.39		(88,930	)		44.10
Expired		(256,250	)		57.00		(125,400	)		44.91
Outstanding, end of period		2,748,395			38.62		3,223,142			39.31

Restricted Stock Units

The following tables summarize activity information about employee restricted stock units:

	Six Months Ended June 30,
	2011					2010
(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		838,129		$	40.93		700,904		$	41.12
Granted		111,496			46.10		341,104			42.55
Vested		(187,123	)		45.14		(109,057	)		48.28
Forfeited		(21,944	)		41.54		(56,894	)		40.46
Outstanding, end of period		740,558			40.63		876,057			40.83
Performance-based restricted stock units:
Outstanding, beginning of period		101,680		$	39.62		145,635		$	42.79
Granted		42,500			46.47		41,250			42.15
Vested		(25,055	)		45.21		(31,558	)		48.46
Forfeited		—			—		(15,352	)		47.64
Outstanding, end of period		119,125			40.89		139,975			40.79

Time-based restricted stock units granted in the first six months of 2011 were significantly lower compared to the first six months of 2010 due to a shift in awards granted in 2011 from time-based restricted stock units to time-based cash awards.

Performance based restricted stock units are based upon the achievement of the performance metric at 100%. These units have the potential to range from 0% to 150% of the shares disclosed, which varies based on grant year and individual participation level. Increases to the 100% target level are reflected as granted in the period in which performance-based stock unit goals are achieved. Decreases to the 100% target level are reflected as forfeited. In the first six months of 2010, performance-based stock units of 11,472 were included as forfeited due to completion levels less than 100% for units granted in 2007.