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Common Stock (Tables)
12 Months Ended
Dec. 31, 2013
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Schedule of Assumptions Used to Determine Fair Value

Assumptions

   2013     2012     2011  

Assumptions applicable to performance-based restricted stock

      

Risk-free interest rate

     0.41     0.38     0.96

Expected lives (in years)

     3        3        3   

Expected stock volatility

     19.04     20.99     34.61

Dividend yield

     4.83     4.78     4.48
Schedule of Additional Information on Compensation Costs and Income Tax Benefits and Excess Tax Benefits Related to Stock-Based Compensation Awards

The following table provides additional information on compensation costs and income tax benefits and excess tax benefits related to the stock-based compensation awards.

 

(millions)

   2013      2012      2011  

Compensation costs (1)

   $ 13.5       $ 12.0       $ 9.1   

Income tax benefits (1)

     5.2         4.6         3.5   

Excess tax benefits (2)

     0.0         2.6         1.7   

 

(1) Reflected on the Consolidated Statements of Income.
(2) Reflected as financing activities on the Consolidated Statements of Cash Flows.
Summary of Non-Vested Shares of Restricted Stock

A summary of non-vested shares of restricted stock is shown as follows:

 

Nonvested Restricted Stock

                         
     Time-Based Restricted      Performance-Based  
     Stock (1)      Restricted Stock (1)  
     Number of
Shares
(thousands)
    Weighted -
Avg. Grant
Date
Fair Value
(per share)
     Number of
Shares
(thousands)
    Weighted-
Avg. Grant
Date
Fair Value
(per share)
 

Nonvested balance at Dec. 31, 2012

     592      $ 18.04         1,490      $ 17.13   

Granted

     237        17.92         496        16.87   

Vested

     (187     16.91         (434     17.20   

Forfeited

     (4     17.99         (47     16.82   
  

 

 

   

 

 

    

 

 

   

 

 

 

Nonvested balance at Dec. 31, 2013

     638      $ 18.33         1,505      $ 17.04   

 

(1) The weighted-average remaining contractual term of restricted stock is two years.
Summary of Stock Option Transactions

Stock option transactions are summarized as follows:

 

Stock Options

                        
     Number of
Shares
(thousands)
    Weighted-Avg.
Option Price
(per share)
     Weighted-Avg.
Remaining
Contractual
Term (years)
   Aggregate
Intrinsic
Value
(millions)
 

Outstanding balance at Dec. 31, 2012

     2,087      $ 15.05         

Granted

     0        0.00         

Exercised

     (507     13.22         

Cancelled

     (13     18.87         
  

 

 

   

 

 

       

 

 

 

Outstanding balance at Dec. 31, 2013 (1)

     1,567      $ 15.62       2    $ 2.6   

Exercisable at Dec. 31, 2013 (1)

     1,567      $ 15.62       2    $ 2.6   

Available for future grant at Dec. 31, 2013

     2,725           

 

(1) Option prices range from $12.01 to $19.01 per share.
Schedule of Option Outstanding and Exercisable

As of Dec. 31, 2013, the options outstanding and exercisable are summarized below:

 

Range of
Option Prices
(per share)
  Option Shares
(thousands)
    Weighted-Avg.
Option Price
(per share)
    Weighted-Avg.
Remaining
Contractual Life
$12.01 - $13.56     331      $ 13.10      1 Years
$16.21 - $19.01     1,236      $ 16.29      2 Years
 

 

 

     
Total     1,567      $ 15.62      2 Years