XML 103 R41.htm IDEA: XBRL DOCUMENT v2.4.0.8
Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of assumptions used relating to valuation of stock options
The following table summarizes the assumptions used relating to the valuation of our stock options during 2013, 2012, and 2011:
 
Grant Year
 
2013
 
2012
 
2011
Risk-free interest rate
0.58% - 2.24%

 
0.49% - 1.40%

 
0.62% - 2.81%

Expected dividend yield
—

 
—

 
—

Expected term
4 - 7 years

 
4 - 7 years

 
4 - 7 years

Expected volatility
29% - 44%

 
39% - 48%

 
39% - 50%
Schedule of stock option activity
The following table summarizes stock option activity during 2013:
 
Stock Options
 
Shares
(in millions)
 
Weighted-
Average
Exercise Price
 
Weighted-
Average
Remaining
Contractual
Term (Years)
 
Aggregate
Intrinsic Value
(in millions)
Options outstanding at January 1
6.2

 
$
24.29

 
 
 
 
Granted (1)
1.0

 
$
46.43

 
 
 
 
Exercised
(1.1
)
 
$
20.31

 
 
 
 
Forfeited
(0.1
)
 
$
35.40

 
 
 
 
Expired
—

 
$
—

 
 
 
 
Options outstanding as of December 31
6.0

 
$
28.48

 
6.58
 
$
127.4

Options exercisable at December 31
3.5

 
$
21.23

 
5.48
 
$
100.7

Options exercisable at December 31 and expected to vest thereafter
6.0

 
$
28.35

 
6.56
 
$
127.1

Options available for future grants at December 31
6.0

 
 
 
 
 
 
(1) 
The options granted during 2013, are related to our employee and non-employee director quarterly stock option award grants in March, June, September, and December 2013.
Schedule of weighted average grant-date fair value of stock options granted and total intrinsic value of stock options exercised
The weighted average grant-date fair value of stock options granted and total intrinsic value of stock options exercised are summarized in the following table:
 
2013
 
2012
 
2011
Weighted average grant-date fair value of stock options granted
$
17.93

 
$
15.25

 
$
15.69

Total intrinsic value of stock options exercised (in millions)
$
31.3

 
$
36.2

 
$
81.0
Schedule of vested and unvested restricted stock
The following table summarizes information about vested and unvested restricted stock for 2013:
 
Restricted Stock
 
Shares
(in millions)
 
Weighted-Average
Grant Date
Fair Value
Nonvested at January 1
0.3

 
$
27.81

Granted (1)
0.1

 
$
43.45

Vested
(0.1
)
 
$
24.33

Forfeited
—

 
$
—

Nonvested at December 31
0.3

 
$
35.76

(1) 
The restricted stock awards granted during 2013 are related to our employee annual restricted stock award grant in March 2013.
Schedule of weighted average grant-date fair value of restricted stock awards granted and total fair value of restricted stock awards vested
The weighted average grant-date fair value of restricted stock awards granted and total fair value of restricted stock awards vested are summarized in the following table:
 
2013
 
2012
 
2011
Weighted average grant-date fair value of restricted stock awards granted
$
43.45

 
$
34.31

 
$
32.50

Total fair value of restricted stock awards vested (in millions)
$
6.8

 
$
5.8

 
$
5.5
Schedule of total stock-based compensation expense
The following table summarizes the total stock-based compensation expense recognized in Selling, General, and Administrative Expenses in the Consolidated Statements of Income and the total recognized tax benefit related thereto:
 
2013
 
2012
 
2011
Stock options
$
16.6

 
$
14.8

 
$
15.2

Restricted stock
4.7

 
3.8

 
3.2

Total stock-based compensation expense
$
21.3

 
$
18.6

 
$
18.4

 
 
 
 
 
 
Tax benefit related to stock-based compensation expense
$
8.1

 
$
7.1

 
$
7.0