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Stock Compensation Plans (Tables) | 6 Months Ended
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Jun. 30, 2015
Share-based Compensation [Abstract] |
Stock Compensation Expense | The Company recorded stock compensation expense as follows for the three and six months ended June 30, 2015 and 2014 (in millions):
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
|  | 2015 |  | 2014 |  | 2015 |  | 2014
Cost of goods sold |  | $ | 0.3 |  |  | $ | 0.3 |  |  | $ | 0.5 |  |  | $ | 0.8 |
Selling, general and administrative expenses |  | 4.7 |  |  | 5.3 |  |  | 6.9 |  |  | 11.2 |
Total stock compensation expense |  | $ | 5.0 |  |  | $ | 5.6 |  |  | $ | 7.4 |  |  | $ | 12.0 |
Performance Award Transactions | Performance award transactions during the six months ended June 30, 2015 were as follows and are presented as if the Company were to achieve its maximum levels of performance under the plan:
Shares awarded but not earned at January 1 | 2,481,767 |
Shares awarded | 717,900 |
Shares forfeited or unearned | (18,521 | )
Shares earned | — |
Shares awarded but not earned at June 30 | 3,181,146 |
Restricted Stock Unit Award Transactions | RSU transactions during the six months ended June 30, 2015 were as follows:
Shares awarded but not vested at January 1 | — |
Shares awarded | 142,150 |
Shares forfeited | (1,150 | )
Shares vested | — |
Shares awarded but not vested at June 30 | 141,000 |
Weighted Average Grant-Date Fair Value of SSARs and Assumptions Under Black-Scholes Option Model | The weighted average grant-date fair value of SSARs granted under the 2006 Plan and the weighted average assumptions under the Black-Scholes option pricing model were as follows for the six months ended June 30, 2015 and 2014:
| Six Months Ended June 30,
| 2015 |  | 2014
Weighted average grant-date fair value | $ | 7.41 |  |  | $ | 13.13 |
Weighted average assumptions under Black-Scholes option pricing model: |  |  |  |  |
Expected life of awards (years) | 3.0 |  |  | 3.0 |
Risk-free interest rate | 0.9 | % |  | 0.9 | %
Expected volatility | 25.9 | % |  | 35.7 | %
Expected dividend yield | 1.1 | % |  | 0.8 | %
SSAR Activity | SSAR transactions during the six months ended June 30, 2015 were as follows:
SSARs outstanding at January 1 |  | 1,220,824 |
SSARs granted |  | 325,200 |
SSARs exercised |  | (36,750 | )
SSARs canceled or forfeited |  | (83,400 | )
SSARs outstanding at June 30 |  | 1,425,874 |
SSAR price ranges per share: |  |  |
Granted | $ | 43.88 |
Exercised |  | 21.45-33.65 |
Canceled or forfeited |  | 56.98 |
Weighted average SSAR exercise prices per share: |  |  |
Granted | $ | 43.88 |
Exercised |  | 25.02 |
Canceled or forfeited |  | 56.98 |
Outstanding at June 30 |  | 49.10 |
Schedule Of SSAR Exercise Price Range, Number Of Shares, Weighted Average Exercise Price and Remaining Contractual Lives | The following table sets forth the exercise price range, number of shares, weighted average exercise price and remaining contractual life by groups of similar price as of June 30, 2015:
|  | SSARs Outstanding |  | SSARs Exercisable
Range of Exercise Prices |  | Number of Shares |  | Weighted Average Remaining Contractual Life (Years) |  | Weighted Average Exercise Price |  | Number of Shares |  | Weighted Average Exercise Price
$21.45 – $32.01 |  | 27,500 |  |  | 0.7 |  | $ | 22.51 |  |  | 27,500 |  |  | $ | 22.51 |
$33.65 – $43.88 |  | 443,100 |  |  | 5.2 |  | $ | 41.22 |  |  | 117,175 |  |  | $ | 33.83 |
$47.89 – $63.64 |  | 955,274 |  |  | 4.4 |  | $ | 53.52 |  |  | 539,552 |  |  | $ | 52.92 |
|  | 1,425,874 |  |  |  |  |  |  | 684,227 |  |  | $ | 48.43 |

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