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STOCK-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of stock-based compensation expense and the related deferred tax benefit recognized in income
The following table reflects the stock-based compensation expense and the related deferred tax benefit recognized in income for the years ended December 31:
(Millions)
 
2013
 
2012
 
2011
Stock options
 
$
1.8

 
$
2.0

 
$
1.8

Performance stock rights
 
2.7

 
5.0

 
3.5

Restricted shares and restricted share units
 
10.2

 
9.7

 
6.1

Nonemployee director deferred stock units
 
0.9

 
1.0

 
1.0

Total stock-based compensation expense
 
$
15.6

 
$
17.7

 
$
12.4

Deferred income tax benefit
 
$
6.2

 
$
7.1

 
$
5.0
Schedule of weighted-average fair values per stock option along with the assumptions incorporated into the valuation models
The following table shows the weighted-average fair values per stock option granted along with the assumptions incorporated into the binomial lattice valuation models:

 
2013 Grant
 
2012 Grant
 
2011 Grant
Weighted-average fair value per stock option
 
$6.03
 
$6.30
 
$6.57
Expected term
 
5 years
 
5 years
 
5 years
Risk-free interest rate
 
0.18% – 2.11%
 
0.17% – 2.18%
 
0.27% – 3.90%
Expected dividend yield
 
5.33%
 
5.28%
 
5.34%
Expected volatility
 
24%
 
25%
 
25%
Summary of stock option activity and information related to outstanding and exercisable stock options
A summary of stock option activity for 2013, and information related to outstanding and exercisable stock options at December 31, 2013, is presented below:
 
 
Stock Options
 
Weighted-Average
Exercise Price Per
Share
 
Weighted-Average
Remaining 
Contractual Life
(in Years)
 
Aggregate
Intrinsic Value
(Millions)
Outstanding at December 31, 2012
 
2,046,355

 
$
49.25

 
 
 
 

Granted
 
319,234

 
56.00

 
 
 
 
Exercised
 
(797,705
)
 
48.56

 
 
 
 
Forfeited
 
(15,510
)
 
56.00

 
 
 
 
Expired
 
(2,000
)
 
44.73

 
 
 
 
Outstanding at December 31, 2013
 
1,550,374

 
$
50.93

 
6.2
 
$
6.6

Exercisable at December 31, 2013
 
810,086

 
$
49.96

 
4.6
 
$
4.3
Schedule of assumptions incorporated into the valuation models for performance stock rights
The table below reflects the assumptions used in the Monte Carlo valuation models to estimate the fair value of the outstanding performance stock rights at December 31:
 
 
2013
 
2012
 
2011
Risk-free interest rate
 
0.13% – 1.27%
 
0.17% – 1.27%
 
0.00% – 1.27%
Expected dividend yield
 
5.28% – 5.34%
 
5.18% – 5.34%
 
5.28% – 5.34%
Expected volatility
 
15% – 36%
 
14% – 36%
 
21% – 36%
Information related to share based awards  
Summary of the activity related to restricted share unit awards (equity and liability awards)
A summary of the 2013 activity related to all restricted share unit awards (equity and liability awards) is presented below:
 
 
Restricted Share
 Unit Awards
 
Weighted-Average Grant Date Fair Value
Outstanding at December 31, 2012
 
505,690

 
$
48.38

Granted
 
196,894

 
55.93

Dividend equivalents
 
24,089

 
52.20

Vested and released
 
(208,682
)
 
46.36

Forfeited
 
(6,690
)
 
52.56

Outstanding at December 31, 2013
 
511,301

 
$
52.24
Performance Stock Rights Accounted For As Equity Awards
  
Information related to share based awards  
Summary of the activity related to performance stock rights
A summary of the 2013 activity related to performance stock rights accounted for as equity awards is presented below:
 
 
Performance
Stock Rights
 
Weighted-Average
 Fair Value *
Outstanding at December 31, 2012
 
108,314

 
$
65.38

Granted
 
22,636

 
48.50

Award modifications
 
28,789

 
39.80

Distributed
 
(94,758
)
 
72.36

Adjustment for final payout
 
21,867

 
72.36

Forfeited
 
(1,099
)
 
48.50

Outstanding at December 31, 2013
 
85,749

 
$
46.62


*
Reflects the weighted-average fair value used to measure equity awards. Equity awards are measured using the grant date fair value or the fair value on the modification date.
Performance Stock Rights Accounted For As Liability Awards
  
Information related to share based awards  
Summary of the activity related to performance stock rights
A summary of the 2013 activity related to performance stock rights accounted for as liability awards is presented below:
 
 
Performance
Stock Rights
Outstanding at December 31, 2012
 
189,093

Granted
 
90,496

Award modifications
 
(28,789
)
Distributed
 
(61,753
)
Adjustment for final payout
 
14,255

Forfeited
 
(4,398
)
Outstanding at December 31, 2013
 
198,904