Incentive plans (Tables)

3 Months Ended

Mar. 31, 2017

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

Summary of the Company's stock-based compensation awards activity

A summary of the Company’s activity for the three months ended March 31,2017 is presented below:

		Restricted		Stock		Performance
		Stock Shares		Options		Units
Outstanding at December 31, 2016			1,157,270		20,000		331,526
	Awards granted (a)		113,460		-		108,398
	Options exercised		-		(20,000)		-
	Awards cancelled / forfeited		(44,232)		-		(37,542)
	Lapse of restrictions		(160,353)		-		-
Outstanding at March 31, 2017		1,066,145		-		402,382
(a) Weighted average grant date fair value per share/unit		$	119.99	$	-	$	149.10

Summarizes the assumptions to estimate the fair value of performance units granted

The Company used the following assumptions to estimate the fair value of performance unit awards granted during the three months ended March 31,2017:

	Three Months Ended
	March 31, 2017
Risk-free interest rate	1.47%
Range of volatilities	24.8% - 60.2%

Future stock-based compensation expense to be recorded for all the stock-based compensation awards that were outstanding

The following table reflects the future stock-based compensation expense to be recorded for all the stock-based compensation awards that were outstanding at March 31,2017:

(in millions)
Remaining 2017		$	44
2018			34
2019			15
Thereafter			2
	Total	$	95