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Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award  
Schedule of Compensation Cost for Share-based Payment Arrangements
Compensation expense for the stock plans, as reported in our consolidated statements of income, is as follows:
 
Year Ended December 31
 
2016
 
2015
 
2014
 
(in millions of dollars)
Performance Share Units
$
6.6

 
$
4.5

 
$
2.5

Restricted Stock Units and Cash-Settled Awards
14.9

 
18.6

 
19.0

Stock Options
—

 
0.2

 
0.6

Other
0.4

 
0.5

 
0.5

Total Compensation Expense, Before Income Tax
$
21.9

 
$
23.8

 
$
22.6

 
 
 
 
 
 
Total Compensation Expense, Net of Income Tax
$
14.4

 
$
15.7

 
$
14.9
Performance Share Units  
Share-based Compensation Arrangement by Share-based Payment Award  
Activity for PSUs Classified as Equity
Activity for PSUs classified as equity is as follows:
 
 
 
Weighted Average
 
Shares
 
Grant Date
 
(000s)
 
Fair Value
Outstanding at December 31, 2015
383

 
$
35.05

Granted
219

 
28.41

Vested
(167
)
 
34.79

Forfeited
(6
)
 
32.54

Outstanding at December 31, 2016
429

 
31.80
Valuation Assumptions on PSU Grants
The fair value of PSUs is estimated on the date of initial grant using the Monte-Carlo simulation model. Key assumptions used to value PSUs granted during the years shown are as follows:
 
Year Ended December 31
 
2016
 
2015
 
2014
Expected Volatility (based on our and our peer group historical daily stock prices)
22
%
 
22
%
 
31
%
Expected Life (equals the performance period)
3.0 years

 
3.0 years

 
3.0 years

Risk Free Interest Rate (based on U.S. Treasury yields at the date of grant)
0.88
%
 
0.91
%
 
0.65
%
Restricted Stock Units (RSUs)  
Share-based Compensation Arrangement by Share-based Payment Award  
Activity for Restricted Stock Units
Activity for RSUs classified as equity is as follows:
 
 
 
Weighted Average
 
Shares
 
Grant Date
 
(000s)
 
Fair Value
Outstanding at December 31, 2015
866

 
$
32.40

Granted
632

 
28.80

Vested
(587
)
 
31.22

Forfeited
(33
)
 
30.64

Outstanding at December 31, 2016
878

 
30.66
Cash Settled Awards  
Share-based Compensation Arrangement by Share-based Payment Award  
Fair Value and Intrinsic Value of Cash Settled Awards and Stock Options
 
Year Ended December 31
 
2016
 
2015
 
2014
 
(in millions of dollars, except per unit data)
Weighted Average Grant Date Fair Value per Unit Granted
$
—

 
$
33.92

 
$
33.85

Total Fair Value of Units Vested
$
—

 
$
4.9

 
$
2.1

Total Fair Value of Units Paid
$
2.4

 
$
2.5

 
$
2.9
Stock Options  
Share-based Compensation Arrangement by Share-based Payment Award  
Fair Value and Intrinsic Value of Cash Settled Awards and Stock Options
The intrinsic value of options exercised and fair value of options vested are as follows:
 
Year Ended December 31
 
2016
 
2015
 
2014
 
(in millions of dollars)
Total Intrinsic Value of Options Exercised
$
3.4

 
$
5.6

 
$
4.0

Total Fair Value of Options Vested
$
0.1

 
$
1.1

 
$
2.4
Schedule of Stock Option Activity
Stock option activity is summarized as follows:
 
 
 
 
 
Remaining
 
Intrinsic
 
Shares
 
Weighted Average
 
Contractual Term
 
Value
 
(000s)
 
Exercise Price
 
(in years)
 
(in millions)
Outstanding at December 31, 2015
759

 
$
23.02

 
 
 
 
Exercised
(242
)
 
21.01

 
 
 
 
Outstanding at December 31, 2016
517

 
23.97

 
2.7
 
$
10.3

 
 
 
 
 
 
 
 
Exercisable at December 31, 2016
517

 
$
23.97

 
2.7
 
$
10.3