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STOCK-BASED COMPENSATION
 6 Months Ended
Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
STOCK-BASED COMPENSATION
Stock-Based Compensation

Per the WEC Merger Agreement, immediately prior to completion of the merger, all of our outstanding stock-based compensation awards became fully vested and were canceled in exchange for the right to be paid out in cash to award recipients. The additional expense associated with the accelerated vesting of these awards totaled $22.7 million and was included with merger costs on the statement of income. See Note 2, WEC Merger, for more information regarding the merger.

The intrinsic values of the awards canceled due to the merger were $26.0 million and $34.8 million for performance stock rights and restricted stock units, respectively. The intrinsic value of stock options canceled was not significant. The actual tax benefit realized for the tax deductions from the payment of the canceled awards was $10.0 million and $12.3 million for performance stock rights and restricted stock units, respectively.

The following table reflects the stock-based compensation expense and the related deferred income tax benefit recognized in income for the three and six months ended June 30:
 
 
Three Months Ended June 30
 
Six Months Ended June 30
(Millions)
 
2015
 
2014
 
2015
 
2014
Stock options
 
$
—

 
$
0.5

 
$
—

 
$
0.8

Performance stock rights
 
2.7

 
9.2

 
3.3

 
9.7

Restricted share units
 
4.8

 
2.6

 
8.2

 
5.1

Nonemployee director deferred stock units
 
0.7

 
0.2

 
0.9

 
0.4

Total stock-based compensation expense
 
$
8.2


$
12.5

 
$
12.4

 
$
16.0

Deferred income tax benefit
 
$
3.3

 
$
5.0

 
$
5.0

 
$
6.4



A summary of the activity for our stock-based compensation awards for the six months ended June 30, 2015, is presented below:
 
 
Stock Options
 
Performance Stock Rights
 
Restricted Stock Units
Outstanding at December 31, 2014
 
134,017

 
238,571

 
427,305

Granted
 
—

 
—

 
224,784

Dividend equivalents
 
N/A

 
N/A

 
9,154

Exercised (1)/Distributed (2)/Vested and Released (3)
 
(70,692
)
 
(40,385
)
 
(166,681
)
Adjustment for performance stock rights distributed or canceled
 
N/A

 
169,379

 
N/A

Forfeited
 
—

 
—

 
(948
)
Canceled due to WEC Merger
 
(63,325
)
 
(367,565
)
 
(493,614
)
Outstanding at June 30, 2015
 
—

 
—

 
—



(1) The intrinsic value of stock options exercised was not significant.

(2) The intrinsic value of shares distributed for performance stock rights was $3.1 million. The actual tax benefit realized for the tax deductions from the distribution of performance stock rights was not significant.

(3) The intrinsic value of restricted share unit awards vested and released was $12.8 million. The actual tax benefit realized for the tax deductions from the vesting and release of restricted share units was $5.1 million.