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STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2013

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

Schedule of stock-based compensation expense and the related deferred tax benefit recognized in income

The following table reflects the stock-based compensation expense and the related deferred tax benefit recognized in income for the years ended December 31:



(Millions)	2013		2012		2011
Stock options	$	0.7	$	0.7	$	0.7
Performance stock rights	1.1		1.9		1.3
Restricted shares and restricted share units	3.4		3.4		2.3
Total stock-based compensation expense	$	5.2	$	6.0	$	4.3
Deferred income tax benefit	$	2.1	$	2.4	$	1.7

Schedule of weighted-average fair values per stock option along with the assumptions incorporated into the valuation model

The following table shows the weighted-average fair values per stock option granted along with the assumptions incorporated into the binomial lattice valuation models:



	2013 Grant	2012 Grant	2011 Grant
Weighted-average fair value per option	$6.03	$6.30	$6.57
Expected term	5 years	5 years	5 years
Risk-free interest rate	0.18% – 2.11%	0.17% – 2.18%	0.27% – 3.90%
Expected dividend yield	5.33%	5.28%	5.34%
Expected volatility	24%	25%	25%

Summary of stock option activity and information related to outstanding and exercisable stock options

A summary of stock option activity for 2013, and information related to outstanding and exercisable stock options at December 31, 2013, is presented below:



	Stock Options		Weighted-Average Exercise Price Per Share		Weighted-Average Remaining Contractual Life (in Years)	Aggregate Intrinsic Value (Millions)
Outstanding at December 31, 2012	66,852		$	49.95
Granted	19,364		56.00
Exercised	(34,473	)	49.15
Expired	(1,750	)	44.73
Outstanding at December 31, 2013	49,993		$	53.03	7.4	$	0.1
Exercisable at December 31, 2013	12,541		$	52.97	4.5	$	—

Schedule of assumptions incorporated into the valuation models for performance stock rights

The table below reflects the assumptions used in the Monte Carlo valuation models to estimate the fair value of the outstanding performance stock rights at December 31:



	2013	2012	2011
Risk-free interest rate	0.13% – 1.27%	0.17% – 1.27%	0.00% – 1.27%
Expected dividend yield	5.28% – 5.34%	5.18% – 5.34%	5.28% – 5.34%
Expected volatility	15% – 36%	14% – 36%	21% – 36%

Summary of the activity related to restricted share unit awards (equity and liability awards)

A summary of the 2013 activity related to all restricted share unit awards (equity and liability awards) is presented below:



	Restricted Share Unit Awards		Weighted-Average Grant Date Fair Value
Outstanding at December 31, 2012	67,954		$	48.26
Granted	23,055		56.05
Dividend equivalents	3,133		52.03
Vested and released	(28,079	)	46.20
Transfers	1,678		52.86
Outstanding at December 31, 2013	67,741		$	52.06

Performance Stock Rights Accounted for as Equity Awards

Summary of the activity related to performance stock rights

A summary of the 2013 activity related to performance stock rights accounted for as equity awards is presented below:



	Performance Stock Rights		Weighted-Average Fair Value *
Outstanding at December 31, 2012	4,908		$	66.95
Granted	1,374		48.50
Award modifications	2,601		39.80
Distributed	(4,318	)	74.53
Adjustment for final payout	996		74.53
Outstanding at December 31, 2013	5,561		$	45.16


*	Reflects the weighted-average fair value used to measure equity awards. Equity awards are measured using the grant date fair value or the fair value on the modification date.

Performance Stock Rights Accounted for as Liability Awards

Summary of the activity related to performance stock rights

A summary of the 2013 activity related to performance stock rights accounted for as liability awards is presented below:



	Performance Stock Rights
Outstanding at December 31, 2012	6,774
Granted	5,489
Award modifications	(2,601	)
Distributed	(573	)
Adjustment for final payout	133
Outstanding at December 31, 2013	9,222