Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2014

Share-based compensation is included in Selling and administrative expense in the accompanying Consolidated Statements of Income. A summary of compensation expense by type of award follows:



(In millions)	2014		2013		2012
Stock appreciation rights	$	5.5	$	6.1	$	5.1
Performance shares	0.7		0.3		—
Restricted stock units	8.0		10.1		5.3
Total share-based compensation	$	14.2	$	16.5	$	10.4

Summary Of Stock Appreciation Rights

A summary of SAR activity for 2014 is presented below:



Stock Appreciation Rights In millions, except per share data)	Shares		Weighted-Average Exercise Price Per Share		Weighted-Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding as of January 1, 2014	2.1		$	16.63	6.33	$	39.3
Granted	0.3		35.19		—
Exercised	(0.7	)	15.55		—
Forfeited or expired	(0.1	)	32.00		—
Outstanding as of December 31, 2014	1.6		$	20.13	6.63	$	28.9
Vested and exercisable as of December 31, 2014	0.8		$	14.81	5.02	$	19.0

Stock Appreciation Rights

Summary Of Assumptions Related To Grants

The following is a summary of the weighted average assumptions related to the grants issued during 2014, 2013 and 2012:



	2014	2013	2012
Expected volatility (weighted-average)	48.0%	50.0%	53.0%
Expected dividends	0.91%	1.04%	1.37%
Expected term (in years)	6.4	7.4	8.0
Risk-free rate	2.94%	2.12%	2.05%
Value of SARs granted	$14.05	$10.83	$6.92

- Definition

Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

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