XML 54 R40.htm IDEA: XBRL DOCUMENT

STOCK-BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2015

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 income tax benefit recognized in income for the three months ended March 31:



	Three Months Ended March 31
(Millions)	2015		2014
Stock options	$	—	$	0.3
Performance stock rights	0.6		0.5
Restricted share units	3.4		2.5
Nonemployee director deferred stock units	0.2		0.2
Total stock-based compensation expense	$	4.2	$	3.5
Deferred income tax benefit	$	1.7	$	1.4

Summary of stock option activity and information related to outstanding and exercisable stock options

A summary of stock option activity for the three months ended March 31, 2015, and information related to outstanding and exercisable stock options at March 31, 2015, 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, 2014	134,017		$	54.31
Exercised	(45,297	)	53.32
Outstanding at March 31, 2015	88,720		$	54.81	6.6	$	1.5
Exercisable at March 31, 2015	53,057		$	54.84	5.9	$	0.9

Schedule of assumptions incorporated into the valuation models for performance stock rights

The table below reflects the assumptions used in the valuation of the outstanding grants at March 31, 2015:



Risk-free interest rate		0.42% – 0.63%
Expected dividend yield		5.25% – 5.33%
Expected volatility		18% – 19%

Summary of the activity related to restricted share unit awards (equity and liability awards)

A summary of the activity related to all restricted share unit awards (equity and liability awards) for the three months ended March 31, 2015, is presented below:



	Restricted Share Unit Awards		Weighted-Average Grant Date Fair Value
Outstanding at December 31, 2014	427,305		$	54.45
Granted	224,784		77.17
Dividend equivalents	4,437		65.31
Vested and released	(166,545	)	53.49
Forfeited	(530	)	52.35
Outstanding at March 31, 2015	489,451		$	65.31

Performance Stock Rights Accounted For As Equity Awards

Summary of the activity related to performance stock rights

A summary of the activity for the three months ended March 31, 2015, related to performance stock rights accounted for as equity awards is presented below:



	Performance Stock Rights		Weighted-Average Fair Value *
Outstanding at December 31, 2014	68,263		$	58.54
Distributed	(38,639	)	78.37
Adjustment for payout	12,751		78.37
Outstanding at March 31, 2015	42,375		$	46.42


*	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

Summary of the activity related to performance stock rights

A summary of the activity for the three months ended March 31, 2015, related to performance stock rights accounted for as liability awards is presented below:



	Performance Stock Rights
Outstanding at December 31, 2014	170,308
Distributed	(1,746	)
Adjustment for payout	831
Outstanding at March 31, 2015	169,393