Stock-based Compensation (Tables)

6 Months Ended

Jun. 30, 2015

Supplemental Employee Incentive Plan IV

Stock-Based Compensation arrangements

Schedule of Value per Share and Assumptions Used

The following assumptions were used to determine the period-end fair value of the Supplemental Employee Incentive Plan IV liability using a Monte Carlo simulation model:

	June 30, 2015
Stock price volatility	30.3	%
Risk free rate of return	0.7	%
Annual salary increase rate	4.0	%
Annual turnover rate	4.6	%

TSR Performance Share Awards

Stock-Based Compensation arrangements

Schedule of Value per Share and Assumptions Used

The following assumptions were used to determine the grant date fair value of the equity component (February 19, 2015) and the period-end fair value of the liability component of the TSR Performance Share Awards:

	Grant Date			June 30, 2015
Fair value per performance share award	$	19.29		$14.60 - $19.30
Assumptions:
Stock price volatility	32.3		%	25.6% - 29.0%
Risk free rate of return	1.0		%	0.1% - 0.8%
Expected dividend yield	0.3		%	0.3	%