Share-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2015

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

Schedule of stock option activity

Activity in the Company’s stock option plans in 2015 was as follows (in thousands, except weighted average exercise price and weighted average contractual life):

	2012 Plan		Weighted Average Exercise Price		Weighted Average Contractual Life	Aggregate Intrinsic Value
Outstanding, January 1, 2015	1,124.6		$	18.84
Exercised	(23.9	)	$	20.16
Outstanding, March 31, 2015	1,100.7		$	18.81	4.3	$	26,600
Exercisable, March 31, 2015	1,100.7		$	18.81	4.3	$	26,600

Summarizes non-vested restricted stock unit activity

The following table summarizes non-vested restricted stock unit activity through March 31, 2015 (in thousands, except weighted average grant-date fair value amounts):

	2012 Plan Restricted Stock Units		Weighted Average Grant-Date Fair Value
Outstanding, January 1, 2015	279.0		$	33.76
Granted	109.5		$	40.76
Vested	(111.6	)	$	32.34
Canceled	(0.3	)	$	39.59
Outstanding, March 31, 2015	276.6		$	37.10

Schedule of fair value assumptions for RSU's

The fair value of the Company’s market-based awards is estimated using the Company’s stock price on the date of grant and the probability of vesting using a Monte Carlo simulation with the following weighted average assumptions:

	2015 Grants	2014 Grants
Volatility of A&B common stock	29.5%	25.4%
Average volatility of peer companies	34.2%	27.3%
Risk-free interest rate	0.7%	0.4%

Summary of compensation cost related to share-based payments

A summary of compensation cost related to share-based payments is as follows (in millions):

	Quarter Ended
	March 31,
	2015			2014
Share-based expense (net of estimated forfeitures):
Stock options	$	—		$	0.2
Restricted stock units	1.2			1.0
Total share-based expense	1.2			1.2
Total recognized tax benefit	(0.3		)	(0.3		)
Share-based expense (net of tax)	$	0.9		$	0.9