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Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2017

Pre-Tax Stock-Based Compensation Expense from Continuing Operations

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

(In millions)		2017				2016				2015
Stock option awards		$	7.4			$	7.2			$	7.4
Restricted stock units			21.6				17.2				13.4
Performance awards			13.6				6.7				5.9
Director awards			1.0				0.9				0.9
Total pre-tax expense			43.6				32.0				27.6
Tax benefit			15.2				11.4				9.9
Total after tax expense		$	28.4			$	20.6			$	17.7

Restricted Stock Units Activity

A summary of activity with respect to restricted stock units outstanding under the Plans for the year ended December 31, 2017 was as follows:

		Number of Restricted Stock Units				Weighted-Average Grant-Date Fair Value
Non-vested at December 31, 2016			723,398			$	49.22
Granted			408,608				58.59
Vested			(338,988	)			48.13
Forfeited			(64,953	)			53.56
Non-vested at December 31, 2017			728,065			$	54.59

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:

		2017				2016				2015
Current expected dividend yield			1.4%				1.4%				1.5%
Expected volatility			26.0%				30.0%				27.0%
Risk-free interest rate			1.9%				1.3%				1.8%
Expected term			5.5 years				5.5 years				6 years

Stock Option Activity

A summary of Fortune Brands stock option activity related to Fortune Brands and employees of Fortune Brands, Inc., the Company from which we spun off from in 2011, for the year ended December 31, 2017 was as follows:

		Options				Weighted- Average Exercise Price
Outstanding at December 31, 2016			4,815,291			$	27.34
Granted			603,230				58.43
Exercised			(1,605,999	)			17.73
Expired/forfeited			(129,564	)			37.02
Outstanding at December 31, 2017			3,682,958			$	36.28

Options Outstanding and Exercisable

Options outstanding and exercisable at December 31, 2017 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		104,500			3.8			$	12.30								104,500			$	12.30
13.00 to 20.00		1,250,011			3.6				16.17								1,250,011				16.17
20.01 to 65.41		2,328,447			7.4				48.16								1,220,692				42.82
		3,682,958			6.0			$	36.28								2,575,203			$	28.64

^(a) At December 31, 2017, the aggregate intrinsic value of options outstanding was $118.4 million.

^(b) At December 31, 2017, the weighted-average remaining contractual life of options exercisable was 4.9 years and the aggregate intrinsic value of options exercisable was $102.5 million.

Summarizes Information of Performance Share Awards

The following table summarizes information about performance share awards as of December 31, 2017, as well as activity during the year then ended. The number of Performance share awards granted are shown below at the target award amounts:

		Number of Performance Share Awards				Weighted-Average Grant-Date Fair Value
Non-vested at December 31, 2016			421,600			$	48.00
Granted			160,196				58.02
Vested			(95,183	)			45.13
Forfeited			(58,285	)			48.22
Non-vested at December 31, 2017			428,328			$	52.35

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