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Stock-Based Compensation (Tables) | 12 Months Ended
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Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Schedule of Stock-Based Compensation Expense | Total stock-based compensation expense consists of the following:
|  | 31 March |
(Millions of US dollars) |  | 2015 |  |  | 2014 |  |  | 2013 |
Liability Awards Expense |  | $ | 3.3 |  |  | $ | 4.5 |  |  | $ | 3.8 |
Equity Awards Expense |  |  | 9.2 |  |  |  | 8.5 |  |  |  | 7.0 |
Total stock-based compensation expense |  | $ | 12.5 |  |  | $ | 13.0 |  |  | $ | 10.8 |
Summary of Stock Options Available for Grant and Outstanding Options Activity | The following table summarizes the Company’s shares available for grant as options, restricted stock units or other equity instruments under the LTIP and 2001 Equity Incentive Plan at 31 March 2015, 2014 and 2013:
|  | Shares Available for Grant |
Balance at 31 March 2013 |  |  | 24,503,783 |
Granted |  |  | (1,266,656) |
New Shares Authorized |  |  | 710,000 |
Balance at 31 March 2014 |  |  | 23,947,127 |
Granted |  |  | (1,192,225) |
New Shares Authorized |  |  | 2,000,000 |
Balance at 31 March 2015 |  |  | 24,754,902 |
Stock Options There were no stock options granted during the years ended 31 March 2015 and 2014. The following table summarizes the Company’s stock options activity during the noted period:
|  | Outstanding Options |
|  | Number |  |  | Weighted Average Exercise Price (A$) |
Balance at 31 March 2013 |  |  | 5,156,136 |  |  |  | 7.94 |
Exercised |  |  | (4,056,860) |  |  |  | 7.89 |
Balance at 31 March 2014 |  |  | 1,099,276 |  |  |  | 8.11 |
Exercised |  |  | (587,496) |  |  |  | 8.06 |
Balance at 31 March 2015 |  |  | 511,780 |  |  |  | 8.17 |
Outstanding and Exercisable Options under 2001 Equity Incentive Plan and Long-Term Incentive Plan | The following table summarizes outstanding and exercisable options under both the 2001 Equity Incentive Plan and the LTIP as of 31 March 2015:
|  |  |  | Options Outstanding |  |  |  |  | Options Exercisable |
Exercise Price (A$) |  |  |  | Number |  |  | Weighted Average Remaining Life (in Years) |  |  | Weighted Average Exercise Price (A$) |  |  | Aggregate Intrinsic Value (A$) |  |  |  |  | Number |  |  | Weighted Average Exercise Price (A$) |  |  | Aggregate Intrinsic Value (A$) |
6.38 |  |  |  |  | 103,080 |  |  |  | 2.7 |  |  |  | 6.38 |  |  |  | 915,350 |  |  |  |  |  | 103,080 |  |  |  | 6.38 |  |  |  | 915,350 |
8.40 |  |  |  |  | 223,700 |  |  |  | 1.6 |  |  |  | 8.40 |  |  |  | 1,534,582 |  |  |  |  |  | 223,700 |  |  |  | 8.40 |  |  |  | 1,534,582 |
8.90 |  |  |  |  | 185,000 |  |  |  | 0.7 |  |  |  | 8.90 |  |  |  | 1,176,600 |  |  |  |  |  | 185,000 |  |  |  | 8.90 |  |  |  | 1,176,600 |
Total |  |  |  |  | 511,780 |  |  |  |  |  |  |  |  |  |  | $ | 3,626,532 |  |  |  |  |  | 511,780 |  |  |  |  |  |  | $ | 3,626,532 |
Restricted Stock Unit Activity | The following table summarizes the Company’s restricted stock unit activity during the noted period:
|  | Restricted Stock Units |  |  | Weighted Average Fair Value at Grant Date (A$)
Non-vested at 31 March 2013 |  |  | 4,004,368 |  |  | 5.99
Granted |  |  | 1,266,656 |  |  | 9.11
Vested |  |  | (1,227,372) |  |  | 5.42
Forfeited |  |  | (159,734) |  |  | 6.38
Non-vested at 31 March 2014 |  |  | 3,883,918 |  |  | 7.17
Granted |  |  | 1,192,225 |  |  | 11.00
Vested |  |  | (774,675) |  |  | 6.63
Forfeited |  |  | (293,467) |  |  | 6.90
Non-vested at 31 March 2015 |  |  | 4,008,001 |  |  | 8.44
Assumptions Used for Restricted Stock Grants | The following table includes the assumptions used for restricted stock grants (market condition) valued during the year ended 31 March 2015 and 2014, respectively:
Vesting Condition: |  | Market |  |  | Market |
|  | FY15 |  |  | FY14 |
Date of grant |  |  | 16 Sep 2014 |  |  |  | 16 Sep 2013 |
Dividend yield (per annum) |  |  | 4.5% |  |  |  | 3.0% |
Expected volatility |  |  | 37.4% |  |  |  | 43.3% |
Risk free interest rate |  |  | 1.6% |  |  |  | 1.4% |
Expected life in years |  |  | 3.0 |  |  |  | 3.0 |
JHX stock price at grant date (A$) |  |  | 12.42 |  |  |  | 10.17 |
Number of restricted stock units |  |  | 459,317 |  |  |  | 489,888 |

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- Definition Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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