Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2014

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

Share-based compensation expense was as follows (in millions):


For the Years Ended December 31,	2014			2013			2012
Stock options	$	24.2		$	24.7		$	32.4
RSUs		25.2			23.8			22.6

Total expense, pre-tax		49.4			48.5			55.0
Tax benefit related to awards		(15.5	)		(15.6	)		(16.6	)

Total expense, net of tax	$	33.9		$	32.9		$	38.4

Summary of Stock Option Activity

A summary of stock option activity for the year ended December 31, 2014 is as follows (options in thousands):


	Stock Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life		Intrinsic Value (in millions)
Outstanding at January 1, 2014		10,741		$	70.06
Options granted		1,193			94.58
Options exercised		(3,811	)		73.55
Options forfeited		(235	)		75.84
Options expired		(42	)		71.25

Outstanding at December 31, 2014		7,846		$	71.94		5.5	$	325.5

Vested or expected to vest as of December 31, 2014		7,485		$	71.47		5.4	$	314.0

Exercisable at December 31, 2014		4,927		$	67.91		3.9	$	224.2

Weighted Average Fair Value for Stock Options Granted

The following table presents information regarding the weighted average fair value for stock options granted, the assumptions used to determine fair value, and the intrinsic value of options exercised in the indicated year:


For the Years Ended December 31,	2014			2013			2012
Dividend yield		0.9	%		1.1	%		1.1	%
Volatility		25.2	%		24.5	%		25.6	%
Risk-free interest rate		1.8	%		1.1	%		1.5	%
Expected life (years)		5.5			6.1			6.1
Weighted average fair value of options granted	$	22.59		$	16.33		$	15.40
Intrinsic value of options exercised (in millions)	$	99.6		$	97.9		$	17.1

Summary of Nonvested RSU Activity

A summary of nonvested RSU activity for the year ended December 31, 2014 is as follows (RSUs in thousands):


	RSUs			Weighted Average Grant Date Fair Value
Outstanding at January 1, 2014		1,454		$	67.42
Granted		455			94.48
Vested		(306	)		61.46
Forfeited		(128	)		72.54

Outstanding at December 31, 2014		1,475			76.60

- 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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