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Share-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 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
(25.9
)
 
$
20.13

 
 
 
 
Outstanding, June 30, 2015
1,098.7

 
$
18.81

 
4.1
 
$
22,635

Exercisable, June 30, 2015
1,098.7

 
$
18.81

 
4.1
 
$
22,635
Summarizes non-vested restricted stock unit activity
The following table summarizes non-vested restricted stock unit activity through June 30, 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
124.7

 
$
40.85

Vested
(103.1
)
 
$
31.78

Canceled
(25.4
)
 
$
35.15

Outstanding, June 30, 2015
275.2

 
$
37.59
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
 
Six Months Ended
 
June 30,
 
June 30,
 
2015
 
2014
 
2015
 
2014
Share-based expense (net of estimated forfeitures):
 
 
 
 
 
 
 
Stock options
$
—

 
$
0.1

 
$
—

 
$
0.3

Restricted stock units
1.1

 
1.1

 
2.3

 
2.1

Total share-based expense
1.1

 
1.2

 
2.3

 
2.4

Total recognized tax benefit
(0.3
)
 
(0.3
)
 
(0.6
)
 
(0.7
)
Share-based expense (net of tax)
$
0.8

 
$
0.9

 
$
1.7

 
$
1.7