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Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2016

Pre-Tax Stock-Based Compensation Expense from Continuing Operations

Pre-tax stock-based compensation expense from continuing operations was as follows:

(In millions)		2016				2015				2014
Stock option awards		$	7.2			$	7.4			$	7.8
Restricted stock units			17.2				13.4				11.8
Performance awards			6.7				5.9				7.6
Director awards			0.9				0.9				0.9
Total pre-tax expense			32.0				27.6				28.1
Tax benefit			11.4				9.9				10.5
Total after tax expense		$	20.6			$	17.7			$	17.6

Restricted Stock Units Activity

A summary of activity with respect to restricted stock units outstanding under the Plans for the year ended December 31, 2016 was as follows:

		Number of Restricted Stock Units				Weighted-Average Grant-Date Fair Value
Non-vested at December 31, 2015			686,026			$	44.69
Granted			385,450				51.97
Vested			(314,104	)			42.88
Forfeited			(33,974	)			46.63
Non-vested at December 31, 2016			723,398			$	49.22

Black-Scholes Option Pricing Model Assumptions used to Estimate Fair Value of Options

The fair value of Fortune Brands options was estimated at the date of grant using a Black-Scholes option pricing model with the assumptions shown in the following table:

		2016				2015				2014
Current expected dividend yield			1.4%				1.5%				1.5%
Expected volatility			30.0%				27.0%				32.0%
Risk-free interest rate			1.3%				1.8%				1.9%
Expected term			5.5 years				6 years				6 years

Stock Option Activity

A summary of Fortune Brands stock option activity related to Fortune Brands and employees of Fortune Brands, Inc., our Former Parent, for the year ended December 31, 2016 was as follows:

		Options				Weighted- Average Exercise Price
Outstanding at December 31, 2015			6,199,526			$	20.74
Granted			621,900				50.22
Exercised			(1,949,423	)			13.10
Expired/forfeited			(56,712	)			46.29
Outstanding at December 31, 2016			4,815,291			$	27.34

Options Outstanding and Exercisable

Options outstanding and exercisable at December 31, 2016 were as follows:

		Options Outstanding(a)																Options Exercisable(b)
Range Of Exercise Prices		Options Outstanding				Weighted- Average Remaining Contractual Life				Weighted- Average Exercise Price								Options Exercisable				Weighted- Average Exercise Price
$9.00 to $12.99			900,898				2.8			$	11.25								900,898			$	11.25
13.00 to 20.00			1,824,173				4.5				15.78								1,824,173				15.78
20.01 to 50.22			2,090,220				7.8				44.37								950,833				39.40
			4,815,291				5.6			$	27.34								3,675,904			$	20.78

^(a) At December 31, 2016, the aggregate intrinsic value of options outstanding was $125.8 million.

^(b) At December 31, 2016, the weighted-average remaining contractual life of options exercisable was 4.7 years and the aggregate intrinsic value of options exercisable was $120.1 million.

Summarizes Information of Performance Share Awards

The following table summarizes information about performance share awards as of December 31, 2016, as well as activity during the year then ended, based on the target award amounts in the performance share award agreements:

		Number of Performance Share Awards				Weighted-Average Grant-Date Fair Value
Non-vested at December 31, 2015			443,100			$	42.15
Granted			155,100				50.60
Vested			(131,096	)			33.70
Forfeited			(45,504	)			42.15
Non-vested at December 31, 2016			421,600			$	48.00

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