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Stock-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of stock-based compensation expense
A summary of the Company’s stock-based compensation expense is presented below:
(in millions)
 
Three Months Ended 
 June 30,
 
Six Months Ended 
 June 30,
 
2015
 
2014
 
2015
 
2014
PRSU expense (benefit)
$
5.4

 
$
(0.9
)
 
$
7.4

 
$
0.2

Option expense
2.0

 
1.7

 
3.5

 
3.4

RSU/DSU expense
0.2

 
0.5

 
0.7

 
1.8

Total stock-based compensation expense
$
7.6

 
$
1.3

 
$
11.6

 
$
5.4
Stock Options Valuation Assumptions
The Company uses the Black-Scholes option pricing model to calculate the fair value of stock options granted. The fair value of stock options granted was estimated using the Black-Scholes option pricing model with the following assumptions during the three and six months ended June 30, 2015 and 2014:
 
Three months ended
 
Six months ended
 
June 30,
 
June 30,
 
2015
 
2014
 
2015
 
2014
Expected volatility range of stock
35.1% - 35.4%
 
58.3% - 66.5%
 
35.1% - 36.2%
 
58.3% - 66.5%
Expected life of option, range in years
3 - 5
 
2 - 4
 
3 - 5
 
2 - 4
Risk-free interest range rate
1.0% - 1.5%
 
0.4% - 1.2%
 
1.0% - 1.5%
 
0.4% - 1.2%
Expected dividend yield on stock
0.0% - 0.0%
 
0.6% - 0.7%
 
0.0% - 0.0%
 
0.6% - 0.7%
Summary of PRSU activity and related information
A summary of the Company’s PRSU activity and related information for the six months ended June 30, 2015 is presented below:
(shares and aggregate intrinsic value in millions)
 
 
 
 
 
 
Number of
Shares
 
Weighted-
Average Grant
Date Fair Value
 
Aggregate
Intrinsic Value
Awards outstanding at December 31, 2014
0.28

 
$
53.45

 
 
Granted
0.26

 
57.52

 
 
Vested
—

 
—

 
 
Forfeited
(0.05
)
 
56.85

 
 
Awards outstanding at June 30, 2015
0.49

 
$
54.36

 
$
32.4
Schedule of stock option activity
A summary of the Company’s stock option activity and related information for the six months ended June 30, 2015 is presented below:
(shares and aggregate intrinsic value in millions)
 
 
 
 
 
 
 
 
Number
of Shares
 
Weighted-
Average Grant
Date Fair Value
 
Weighted-
Average
 Remaining
Contractual
Term (Years)
 
Aggregate
 Intrinsic Value
Options outstanding December 31, 2014
2.84

 
$
24.18

 
 
 
 
Granted
0.44

 
57.60

 
 
 
 
Exercised
(0.88
)
 
11.99

 
 
 
 
Forfeited
(0.08
)
 
57.20

 
 
 
 
Options outstanding at June 30, 2015
2.32

 
$
33.85

 
5.84
 
$
71.1

Options exercisable at June 30, 2015
1.82

 
$
27.72

 
4.86
 
$
69.4
Schedule of restricted stock units and deferred stock units
A summary of the Company’s RSU and DSU activity and related information for the six months ended June 30, 2015 is presented below:
(shares and aggregate intrinsic value in millions)
 
 
 
 
 
 
Number of
Shares
 
Weighted-
Average Grant
Date Fair Value
 
Aggregate
Intrinsic Value
Awards outstanding at December 31, 2014
0.11

 
$
50.41

 
 
Granted
0.00

 
58.98

 
 
Vested
(0.06
)
 
49.27

 
 
Forfeited
0.00

 
49.63

 
 
Awards outstanding at June 30, 2015
0.05

 
$
52.11

 
$
3.5
Schedule of Unrecognized Compensation Expense
A summary of total unrecognized stock-based compensation expense based on current performance estimates related to the PRSUs, options, RSUs and DSUs granted during the six months ended June 30, 2015 is presented below:
($ in millions)
 
 
 
 
June 30, 2015
 
Weighted
 Average
 Remaining
 Vesting Period
(Years)
Unrecognized stock option expense
$
5.0

 
2.57 years
Unrecognized RSU/DSU expense
0.7

 
1.22 years
Unrecognized PRSU expense
11.0

 
2.50 years
Total unrecognized stock-based compensation expense
$
16.7

 
2.47 years