Share-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2015

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

Schedule of Stock Option Activity

Activity in the Company’s equity compensation plan in 2015 was as follows (in thousands, except weighted average exercise price and weighted average contractual life):

	Options		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, September 30, 2015	1,098.7		$	18.81	3.8	$	17,125
Exercisable, September 30, 2015	1,098.7		$	18.81	3.8	$	17,125

Summary of Non-vested Restricted Stock Unit Activity

The following table summarizes non-vested restricted stock unit activity through September 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	(106.4	)	$	31.58
Canceled	(25.4	)	$	35.15
Outstanding, September 30, 2015	271.9		$	37.74

Schedule of Fair Value Assumptions of Market-based Awards

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						Nine Months Ended
	September 30,						September 30,
	2015			2014			2015			2014
Share-based expense (net of estimated forfeitures):
Stock options	$	—		$	0.1		$	—		$	0.4
Restricted stock units	1.1			1.0			3.4			3.1
Total share-based expense	1.1			1.1			3.4			3.5
Total recognized tax benefit	(0.4		)	(0.3		)	(1.1		)	(1.0		)
Share-based expense (net of tax)	$	0.7		$	0.8		$	2.3		$	2.5