EQUITY-BASED COMPENSATION (Tables)

9 Months Ended

Sep. 30, 2014

EQUITY-BASED COMPENSATION

Summary of activity related to restricted stock and RSUs

	Restricted Stock & RSUs
	Number of Shares			Weighted Average Grant Date Fair Value
Unvested Balance at January 1, 2014		—		$	—
Granted		2,477,272			26.08
Forfeited		(56,642	)		25.00
Vested		(9,190	)		28.02
Unvested Balance at September 30, 2014		2,411,440		$	26.10

Schedule of assumptions used to estimates the fair value of stock option using the Black-Scholes valuation model

	Nine Months Ended September 30, 2014
Expected life (in years)		6
Weighted-average risk free interest rate		1.91	%
Expected volatility		35	%
Dividend yield		2.72	%
Weighted-average fair value at grant date	$	6.70

Summary of activity related to stock options

	Stock Options Outstanding
	Number Outstanding			Weighted-Average Exercise Price Per Share
Outstanding at January 1, 2014		—		$	—
Grants		3,501,881			25.00
Exercises		—			25.00
Forfeiture or expirations		(130,975	)		25.00
Outstanding at September 30, 2014		3,370,906		$	25.00