Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2015

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

Components of the Company’s stock-based compensation expense

The following table summarizes the components of the Company’s stock-based compensation expense included in general and administrative expenses in the Consolidated Statements of Comprehensive Income for the three months ended March 31, 2015 and 2014:

		Three Months Ended
		March 31,
		2015			2014
	(In millions)
Total stock-based compensation expense:
Equity classified awards expense		$	2.4		$	3.2
Liability classified awards expense (credit)		0.3			(0.2		)
Total pre-tax stock-based compensation expense		2.7			3.0
Tax benefit		(1.0		)	(1.1		)
Total stock-based compensation expense, net of tax		$	1.7		$	1.9

Schedule of stock option valuation assumptions

The following summarizes the assumptions used in the Black-Scholes model:

Risk-free interest rate	1.56	%
Weighted average historical volatility	37.5	%
Dividend yield	3.10	%
Expected years until exercise	4.50
Forfeitures	11.0	%
Weighted average fair value of options granted	$28.37

Schedule of stock option activity

Stock option balances as of March 31, 2015 and activity related to stock options for the three months ended March 31, 2015 were as follows:

	Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in Years)	Aggregate Intrinsic Value (in Millions)
Outstanding at December 31, 2014	618,115		$	53.10
Granted	117,511		113.72
Exercised	(194,648	)	42.16
Outstanding at March 31, 2015	540,978		70.21		7.5	$20.7
Vested at March 31, 2015 and Expected to Vest	499,627		67.67		7.4	$20.3
Exercisable at March 31, 2015	327,100		$	51.83	6.4	$18.0

Schedule of restricted stock unit activity

Outstanding balances as of March 31, 2015 and activity related to restricted stock and restricted stock units for the three months ended March 31, 2015 were as follows:

	Restricted Stock		Weighted Average Grant Date Fair Value		Restricted Stock Units		Weighted Average Grant Date Fair Value
Outstanding at December 31, 2014	233,818		$	70.14	41,622		$	66.92
Granted	63,728		113.62		9,695		113.72
Released	(61,974	)	52.30		(13,567	)	52.19
Forfeited	(5,413	)	72.97		—		—
Outstanding at March 31, 2015	230,159		$	86.91	37,750		$	86.54