XML 40 R29.htm IDEA: XBRL DOCUMENT v3.5.0.2
Employee Incentive Plans (Tables)
 9 Months Ended
Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Non-cash compensation expense
Non-cash compensation expense by type of award under LTI Programs was as follows for each period presented (in millions of dollars):
 
Quarter Ended
 
Nine Months Ended
 
September 30,
 
September 30,
 
2016
 
2015
 
2016
 
2015
Non-vested common shares and restricted stock units
$
1.2

 
$
1.1

 
$
3.5

 
$
3.3

TSR-Based Performance Shares
1.5

 
1.0

 
4.0

 
2.7

CP-Based Performance Shares
0.4

 
—

 
0.9

 
—

EVA-Based Performance Shares
—

 
0.1

 
0.3

 
0.8

Total non-cash compensation expense
$
3.1

 
$
2.2

 
$
8.7

 
$
6.8

The following table presents the allocation of the charges detailed above, by segment (in millions of dollars):
 
Quarter Ended
 
Nine Months Ended
 
September 30,
 
September 30,
 
2016
 
2015
 
2016
 
2015
Fabricated Products
$
1.2

 
$
0.8

 
$
3.1

 
$
2.4

All Other
1.9

 
1.4

 
5.6

 
4.4

Total non-cash compensation expense
$
3.1

 
$
2.2

 
$
8.7

 
$
6.8
Unrecognized gross compensation cost data
The following table presents unrecognized gross compensation cost data by type of award as of September 30, 2016:
 
Unrecognized gross compensation costs (in millions of dollars)
 
Expected period (in years) over which the remaining gross compensation costs will be recognized
Non-vested common shares and restricted stock units
$
7.0

 
1.8
TSR-Based Performance Shares
$
7.7

 
1.8
CP-Based Performance Shares
$
3.8

 
2.4
Summary of activity of non-vested common shares, restricted stock units, and performance shares
A summary of the activity with respect to non-vested common shares, restricted stock units, TSR-Based Performance Shares, CP-Based Performance Shares and EVA-Based Performance Shares for the nine months ended September 30, 2016 is as follows:
 
Non-Vested
Common Shares
 
Restricted
Stock Units
 
TSR-Based Performance Shares
 
CP-Based Performance Shares
 
EVA-Based Performance
Shares
 
Shares
 
Weighted-Average
Grant-Date Fair
Value per Share
 
Units
 
Weighted-Average
Grant-Date Fair
Value per Unit
 
Shares
 
Weighted-Average
Grant-Date Fair
Value per Share
 
Shares
 
Weighted-Average
Grant-Date Fair
Value per Share
 
Shares
 
Weighted-Average
Grant-Date Fair
Value per Share
Outstanding at December 31, 2015
156,553

 
$
67.20

 
5,521

 
$
66.64

 
299,877

 
$
89.43

 
—

 
$
—

 
155,105

 
$
57.76

Granted1
9,702

 
86.11

 
57,205

 
75.57

 
95,974

 
93.02

 
63,983

 
80.46

 
—

 
—

Vested
(49,737
)
 
65.54

 
(2,097
)
 
63.02

 
—

 
—

 
—

 
—

 
(49,611
)
 
57.76

Forfeited1
(379
)
 
69.18

 
(588
)
 
74.49

 
(1,115
)
 
90.06

 
(164
)
 
80.46

 
—

 
—

Canceled1
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
(105,494
)
 
57.76

Outstanding at September 30, 2016
116,139

 
$
69.49

 
60,041

 
$
75.20

 
394,736

 
$
90.30

 
63,819

 
$
80.46

 
—

 
$
—

____________
1 
For TSR-Based Performance Shares, CP-Based Performance Shares and EVA-Based Performance Shares, the number of shares granted and forfeited are presented at their maximum payout; and the number of shares canceled includes the number of shares that did not vest due to EVA performance results falling below those required for maximum payout. Non-Vested Common Shares granted in 2016 were granted under the 2016 Plan.
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value
The weighted-average grant-date fair value per share for shares granted by type of award was as follows for each period presented:
 
Quarter Ended
 
Nine Months Ended
 
September 30,
 
September 30,
 
2016
 
2015
 
2016
 
2015
Non-vested common shares
$
—

 
$
—

 
$
86.11

 
$
72.09

Restricted stock units
$
—

 
$
—

 
$
75.57

 
$
69.83

TSR-Based Performance Shares
$
—

 
$
—

 
$
93.02

 
$
95.68

CP-Based Performance Shares
$
—

 
$
—

 
$
80.46

 
$
—