Equity-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2013

Share-based Arrangements with Employees and Nonemployees [Abstract]

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

The assumptions used to value the stock options granted during the year ended December 31, 2013 are presented below.



	Year Ended December 31,
Assumptions	2013
Weighted-average grant date fair value	$	4.75
Weighted-average volatility ⁽¹⁾	35.00		%
Weighted-average risk-free rate ⁽²⁾	1.58		%
Dividend yield	1.00		%
Expected term (in years) ⁽³⁾	5.4


(1)	Based upon an assessment of the two-year, five-year and implied volatility for the Company’s selected peer group, adjusted for the Company’s leverage.


(2)	Based on a composite U.S. Treasury rate.


(3)	The expected term is calculated using the simplified method. The simplified method defines the expected term as the average of the option’s contractual term and the option’s weighted-average vesting period. The Company utilizes this method as it has limited historical stock option data that is sufficient to derive a reasonable estimate of the expected stock option term.

Schedule of Stock Options Roll Forward [Table Text Block]

The following table sets forth a summary of the Company's stock option activity for the year ended December 31, 2013:



Options	Number of Options		Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term	Aggregate Intrinsic Value (millions)
Outstanding at January 1, 2013	—		$	—
Granted	1,288,398		$	17.00
Forfeited/Expired	(8,143	)	$	17.00
Exercised	—		$	—		N/A
Outstanding at December 31, 2013	1,280,255		$	17.00	8.4	$	8.1
Vested at December 31, 2013	393,517		$	17.00	8.0	$	2.5
Exercisable at December 31, 2013	393,517		$	17.00	8.0	$	2.5
Expected to vest at December 31, 2013	852,713		$	17.00	8.6	$	5.4

Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block]

The following table sets forth a summary of the Company's RSU activity for the year ended December 31, 2013:



	Number of Units		Weighted-Average Grant-Date Fair Value
Nonvested at January 1, 2013	—		$	—
Granted	1,416,543		17.03
Vested/Settled	(1,844	)	17.00
Forfeited	(63,127	)	17.01
Nonvested at December 31, 2013	1,351,572		$	17.04

Schedule of Share-based Payment Award, Equity Investments other than Options, Valuation Assumptions [Table Text Block]

The following table summarizes the assumptions and resulting fair value of the Class B Common Unit grants for the years ended December 31, 2013, 2012 and 2011:



	Class B Common Units
	Years Ended December 31,
Assumptions	2013			2012			2011
Weighted-average grant date fair value	$	119.00		$	125.65		$	148.89
Weighted-average volatility	65.50		%	65.26		%	82.87		%
Weighted-average risk-free rate	0.18		%	0.19		%	0.84		%
Dividend yield	0.00		%	0.00		%	0.00		%

Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block]

The following table sets forth a summary of equity plan activity for the year ended December 31, 2013:



	Class B Common Units		MPK Plan Units
Outstanding at January 1, 2013	216,483		66,137

Granted	400		—
Forfeited	(860	)	(2,228	)
Converted/Settled ⁽¹⁾	(216,023	)	(63,909	)
Outstanding at December 31, 2013	—		—
Vested at December 31, 2013	—		—

- 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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