Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2015

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

Disclosure of Share-based Compensation Arrangements by Share-based Payment Award

The following table provides the weighted-average assumptions used to determine the fair value of NSO awards granted during the six months ended June 30, 2015:

	Six Months Ended  June 30, 2015
Risk-free interest rate	1.71	%
Expected dividend yield (1)	0.16	%
Expected stock price volatility	44.51	%
Expected life (in years)	6.25

Non-Qualified Stock Options, Activity

A summary of activity and weighted average exercise prices related to the NSOs is reflected in the table below. For NSOs granted prior to the Ex-dividend Date, the weighted-average exercise prices reflect the historical values without giving effect to the Special Cash Dividend. As noted above, as of the Ex-dividend Date, an adjustment was made to convert the number of outstanding options and the exercise prices to preserve the fair value of the awards.

	Six Months Ended  June 30, 2015
	Shares		Weighted Avg.  Exercise Price
Outstanding, beginning of period	974,518		$	70.90
Granted	445,770		58.05
Exercised	(3,370	)	49.40
Forfeited	(30,941	)	58.73
Cancelled	(539	)	53.07
Adjustments due to the Special Cash Dividend	145,219		*
Outstanding, end of period (1)	1,530,657		$	60.73
Vested and exercisable, end of period (1)	310,016		$	61.90

* Not meaningful

(1) The weighted average exercise price of options outstanding as of June 30, 2015 reflects the adjustment for the Special Cash Dividend.

Restricted Stock Units Activity

A summary of activity and weighted average fair values related to the RSUs is reflected in the table below. For RSUs granted prior to the Ex-dividend Date, the weighted-average fair values reflect the historical values without giving effect to the Special Cash Dividend. As noted above, as of the Ex-dividend Date, an adjustment was made to increase the number of outstanding RSUs to preserve the fair value of the awards.

	Six Months Ended  June 30, 2015
	Shares		Weighted Avg. Fair Value
Outstanding, beginning of period	633,182		$	68.76
Granted	414,947		58.04
Dividend equivalent units granted	4,124		54.32
Vested	(192,901	)	65.80
Forfeited	(54,097	)	64.59
Dividend equivalent units forfeited	(34	)	54.32
Adjustments due to the Special Cash Dividend	88,836		*
Outstanding and nonvested, end of period (1)(2)	894,057		$	59.02

* Not meaningful

(1) Includes 6,810 RSUs which were granted to foreign employees and which the Company expects to settle in cash. These RSUs generally vest over a fouryear period. The fair value of these RSUs at June 30, 2015 was not material.

(2) The weighted average fair value of outstanding RSUs as of June 30, 2015 reflects the adjustment for the Special Cash Dividend.

Restricted Stock Award And Unrestricted Stock Award Activity

A summary of activity and weighted average fair values related to the restricted and unrestricted stock awards is as follows:

	Six Months Ended  June 30, 2015
	Shares		Weighted Avg. Fair Value
Outstanding, beginning of period	16,670		$	56.80
Granted	11,811		60.07
Vested	(20,146	)	58.72
Forfeited	(1,667	)	56.80
Outstanding and nonvested, end of period	6,668		$	56.80

Performance-based Units Activity

A summary of activity and weighted average fair values related to the PSUs is reflected in the table below. For PSUs granted prior to the Ex-dividend Date, the weighted-average fair values reflect the historical values without giving effect to the Special Cash Dividend. As noted above, as of the Ex-dividend Date, an adjustment was made to increase the number of outstanding PSUs to preserve the fair value of the awards.

	Six Months Ended  June 30, 2015
	Shares	Weighted Avg. Fair Value
Outstanding, beginning of period	43,219	$	74.35
Granted (1)	65,982	68.10
Granted dividend equivalent units	840	54.32
Adjustment due to the Special Cash Dividend (1)	11,575	*
Outstanding and nonvested, end of period (1)(2)	121,616	$	63.74

* Not meaningful

(1) Represents shares of PSUs for which performance targets have been established and which are deemed granted under U.S. GAAP. An additional adjustment of 5,907 PSUs which have not yet been deemed granted under U.S. GAAP is not reflected in the table above.

(2) The weighted average fair value of outstanding PSUs as of June 30, 2015 reflects the adjustment for the Special Cash Dividend.

Unrecognized Compensation Cost, Nonvested Awards

As of June 30, 2015, the Company had not yet recognized compensation cost on nonvested awards as follows (dollars in thousands):

	Unrecognized Compensation Cost		Weighted Average Remaining Recognition Period
Nonvested awards	$	83,056	2.7