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Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2017

Share Based Compensation [Abstract]

Summary of Restricted Stock Activity

A summary of the Company’s restricted stock activity follows:

		2017								2016								2015
		Shares				Weighted Average Grant- Date Fair Value				Shares				Weighted Average Grant- Date Fair Value				Shares				Weighted Average Grant- Date Fair Value
Restricted stock at January 1			786,079			$	63.44				1,007,794			$	49.47				1,184,299			$	41.71
Granted			173,199				107.57				242,835				67.48				218,957				65.16
Vested (a)			(213,992	)			51.37				(443,627	)			34.11				(389,481	)			32.77
Forfeitures			(5,554	)			69.03				(20,923	)			59.63				(5,981	)			66.42
Restricted stock at December 31			739,732			$	77.23				786,079			$	63.44				1,007,794			$	49.47

(a) The total fair value of awards upon vesting for the years ended December 31, 2017, 2016, and 2015 was $23.3 million, $28.8 million, and $26.3 million, respectively.

Summary of Performance Units Activity

The awards are valued at the closing price of the Company’s stock on the grant date and expensed over the requisite service period based on the most probable number of awards expected to vest.

		2017								2016								2015
		Units				Weighted Average Grant- Date Fair Value				Units				Weighted Average Grant- Date Fair Value				Units				Weighted Average Grant- Date Fair Value
Performance units at January 1			232,088			$	62.68				175,675			$	59.94				127,489			$	58.25
Granted			61,861				108.19				77,017				67.57				53,102				65.04
Vested (a)			(67,391	)			56.08				(20,604	)			57.58				(4,916	)			71.19
Performance units at December 31			226,558			$	77.07				232,088			$	62.68				175,675			$	59.94

(a) The total fair value of awards upon vesting for the years ended December 31, 2017, 2016, and 2015 was $7.5 million, $1.1 million, and $0.3 million, respectively. Upon vesting of the awards in 2016 and 2015, PCA issued 21,111 and 5,090 shares, which included 507 and 174 shares, respectively, for dividends accrued during the vesting period.

Compensation Expense For Restricted Stock and Performance Units

Compensation expense for share-based awards recognized in the Consolidated Statements of Income, net of forfeitures was as follows (dollars in millions):

		Year Ended December 31
		2017				2016				2015
Restricted stock		$	15.0			$	15.8			$	15.2
Performance units			5.6				3.9				3.0
Impact on income before income taxes			20.6				19.7				18.2
Income tax benefit			(7.9	)			(7.7	)			(7.1	)
Impact on net income		$	12.7			$	12.0			$	11.1

Unrecognized Compensation For Restricted Stock and Performance Units

The unrecognized compensation expense for all share-based awards was as follows (dollars in millions):

		December 31, 2017
		Unrecognized Compensation Expense				Remaining Weighted Average Recognition Period (in years)
Restricted stock		$	30.6			2.5
Performance units			9.8			2.8
Total unrecognized share-based compensation expense		$	40.4			2.6

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- Definition

Tabular disclosure of the amount of total share-based compensation cost, including the amounts attributable to each share-based compensation plan and any related tax benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
-URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5070-113901

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-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
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+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
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Tabular disclosure of the total compensation cost related to nonvested awards not yet recognized and the weighted-average period over which it is expected to be recognized.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
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