Share-Based Payments (Tables)

12 Months Ended

Dec. 31, 2016

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

Schedule of components of share-based compensation expense

The following table summarizes share-based compensation expense and includes share-based compensation related to pre-existing MCBC equity awards held by former MCBC employees who transferred to MillerCoors (for the year ended December 31, 2016, this includes the period from January 1, 2016, through October 10, 2016):

	For the years ended
	December 31, 2016			December 31, 2015			December 31, 2014
	(In millions)
Pretax compensation expense	$	32.3		$	20.7		$	23.5
Tax benefit	(10.0		)	(5.6		)	(7.0		)
After-tax compensation expense	$	22.3		$	15.1		$	16.5

Schedule of non-vested RSUs, PUs and DSUs outstanding and the activity for the period

The following table represents non-vested RSUs, DSUs, and PSUs as of December 31, 2016, and the activity during 2016:

	RSUs and DSUs		PSUs
	Units	Weighted-average grant date fair value per unit	Units	Weighted-average grant date fair value per unit
	(In millions, except per unit amounts)
Non-vested as of December 31, 2015	0.6	$56.23	0.5	$57.01
Granted	0.2	$93.13	0.1	$90.49
Replacement awards issued	0.4	$107.91	0.1	$106.17
Vested	(0.3)	$51.35	(0.2)	$44.71
Forfeited	(0.1)	$82.91	—	$—
Non-vested as of December 31, 2016	0.8	$87.01	0.5	$81.67

Schedule of stock options and SOSARs outstanding and the activity for the period

The following table represents the summary of options and SOSARs outstanding as of December 31, 2016, and the activity during 2016:

	Awards outstanding
	Awards	Weighted- average exercise price	Weighted- average remaining contractual life (years)	Aggregate intrinsic value
	(In millions, except per share amounts and years)
Outstanding as of December 31, 2015	1.3	$49.49	4.8	$	58.0
Granted	0.1	$92.04
Replacement awards issued	0.5	$70.05
Exercised	(0.4)	$47.70
Forfeited	—	$—
Outstanding as of December 31, 2016	1.5	$59.79	5.4	$	58.2
Expected to vest	0.4	$78.97	8.5	$	7.3
Exercisable at December 31, 2016	1.1	$52.97	4.3	$	50.8

Schedule of share-based compensation weighted average assumptions

The fair value of each option granted in 2016, 2015 and 2014 was determined on the date of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions:

	For the years ended
	December 31, 2016	December 31, 2015	December 31, 2014
Risk-free interest rate	1.40%	1.70%	2.29%
Dividend yield	1.81%	2.20%	2.57%
Volatility range	23.16% - 24.64%	21.65% - 29.90%	22.66% - 26.57%
Weighted-average volatility	23.53%	23.71%	25.59%
Expected term (years)	5.2	5.7	7.5
Weighted-average fair value	$16.65	$13.98	$12.78

Schedule of Share-based payment Award, Performance Share Units, Valuation Assumptions

The fair value of the market metric for each PSU granted in 2016, 2015 and 2014 was determined on the date of grant using a Monte Carlo model to simulate total stockholder return for MCBC and peer companies with the following weighted-average assumptions:

	For the years ended
	December 31, 2016	December 31, 2015	December 31, 2014
Risk-free interest rate	1.04%	1.06%	0.72%
Dividend yield	1.81%	2.20%	2.57%
Volatility range	14.10% - 77.11%	12.73% - 62.28%	12.45% - 72.41%
Weighted-average volatility	23.68%	21.53%	21.72%
Expected term (years)	2.8	2.8	2.8
Weighted-average fair market value	$90.49	$74.42	$58.69