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Share-Based Payments (Tables) | 12 Months Ended
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Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Schedule of Share-Based Compensation Retired Plans | Retired Plans The following plans are closed for the issuance of new awards, although awards outstanding continue in effect according to the terms of the applicable award agreements:
December 31, 2015 | Types of Share-Based Payments Issued | Reserve Shares | Awards Outstanding 1
Plan
2005 Omnibus Stock Plan ("2005 Stock Plan") | Qualified and nonqualified stock options, SARs, restricted stock, RSUs, phantom stock, stock bonuses, and other awards in such amounts and with such terms and conditions as it determined, subject to the provisions of the 2005 Stock Plan. The maximum exercise period for an option grant under this plan is 10 years from the date of the grant. DEUs are earned during the vesting period on RSU grants. The DEUs are reinvested in the Parent's common stock at fair value on each dividend payment date. | 3,182,006 |  | 1,225,486 |
Parent's Stock Compensation Plan for Non-employee Directors ("Directors Stock Compensation Plan") | Directors could elect to receive a portion of their annual compensation in shares of the Parent's common stock. | 67,978 |  | 67,978 |
1 Awards outstanding under the 2005 Stock Plan consisted of 732,058 RSUs and 493,428 stock options.
Schedule of Share-Based Compensation ESPP and ASPP Shares Granted | A summary of ESPP and Agent Plan share issuances is as follows:
| 2015 | 2014 | 2013
ESPP Issuances | 100,944 |  | 106,832 |  | 122,951 |
Agent Plan Issuances | 82,142 |  | 78,724 |  | 86,388 |
Schedule of Share-Based Compensation Shares Available for Issuance | Shares authorized and available for issuance as of December 31, 2015 are as follows:
As of December 31, 2015 | Authorized | Available for Issuance | Awards Outstanding
Stock Plan | 3,500,000 |  | 3,138,273 |  | 344,105 |
ESPP | 1,500,000 |  | 663,154 |  | — |
Agent Plan | 3,000,000 |  | 1,937,154 |  | — |
Schedule Of Share-Based Compensation Plan Approval | The following table provides information regarding the approval of these plans:
Plan | Approvals
Stock Plan | Approved effective as of May 1, 2014 by stockholders on April 23, 2014.
Cash Plan | Approved effective April 1, 2005 by stockholders on April 27, 2005. Most recently amended and restated plan was approved effective May 1, 2014 by stockholders on April 23, 2014.
ESPP | Approved by stockholders on April 29, 2009 effective July 1, 2009.
Agent Plan | Approved by stockholders on April 26, 2006. Most recently amended and restated plan (which made immaterial amendments to the original plan) was approved on July 27, 2010 by the Parent's Board of Directors' Salary and Employee Benefits Committee ("SEBC").
Schedule of Types of Share-Based Payments Issued | The types of awards that can be issued under each of these plans are as follows:
Plan | Types of Share-Based Payments Issued
Stock Plan | Qualified and nonqualified stock options, stock appreciation rights ("SARs"), restricted stock, restricted stock units ("RSUs"), stock grants, and other awards valued in whole or in part by reference to the Parent's common stock. The maximum exercise period for an option grant under this plan is 10 years from the date of the grant. Dividend equivalent units ("DEUs") are earned during the vesting period on RSU grants. The DEUs are reinvested in the Parent's common stock at fair value on each dividend payment date. The requisite service period for grants to employees under this plan is the lesser of: (i) the stated vested date, which is typically three years from issuance; or (ii) the date the employee becomes eligible to retire.
Cash Plan | Cash incentive units (“CIUs”). The initial dollar value of each CIU will be adjusted to reflect the percentage increase or decrease in the total shareholder return on the Parent's common stock over a specified performance period. In addition, for certain grants, the number of CIUs granted will be increased or decreased to reflect our performance on specified performance indicators as compared to targeted peer companies. The requisite service period for grants under this plan is the lesser of: (i) the stated vested date, which is typically three years from issuance; or (ii) the date the employee becomes eligible to retire.
ESPP | Enables to employees to purchase shares of the Parent’s common stock. The purchase price is the lower of: (i) 85% of the closing market price at the time the option is granted; or (ii) 85% of the closing price at the time the option is exercised. Shares are generally issued on June 30 and December 31 of each year.
Agent Plan | Quarterly offerings to purchase the Parent's common stock at a 10% discount with a one year restricted period during which the shares purchased cannot be sold or transferred. Only our independent retail insurance agencies and wholesale general agencies, and certain eligible persons associated with the agencies, are eligible to participate in this plan.
Schedule of Summary of Stock Option Transactions under Share Based Payment Plans |
|  | Number of Shares |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Life in Years |  | Aggregate Intrinsic Value ($ in thousands)
Outstanding at December 31, 2014 |  | 734,539 |  |  | $ | 19.52 |  |  |  |  |  |
Granted in 2015 |  | — |  |  | — |  |  |  |  |  |
Exercised in 2015 |  | 241,111 |  |  | 22.97 |  |  |  |  |  |
Forfeited or expired in 2015 |  | — |  |  | — |  |  |  |  |  |
Outstanding at December 31, 2015 |  | 493,428 |  |  | $ | 17.84 |  |  | 2.90 |  | $ | 7,767 |
Exercisable at December 31, 2015 |  | 493,428 |  |  | $ | 17.84 |  |  | 2.90 |  | $ | 7,767 |
Schedule of Summary of Restricted Stock Units Transactions under Share-Based Payment Plans | RSU Transactions A summary of the RSU transactions under our share-based payment plans is as follows:
|  | Number of Shares |  | Weighted Average Grant Date Fair Value
Unvested RSU awards at December 31, 2014 |  | 1,077,010 |  |  | $ | 20.18 |
Granted in 2015 |  | 342,409 |  |  | 25.22 |
Vested in 2015 |  | 371,930 |  |  | 18.24 |
Forfeited in 2015 |  | 28,959 |  |  | 21.41 |
Unvested RSU awards at December 31, 2015 |  | 1,018,530 |  |  | $ | 22.55 |
Schedule of Weighted Average Assumptions for Employee Stock Purchase Plan |
|  | ESPP
|  | 2015 |  | 2014 |  | 2013
Risk-free interest rate |  | 0.10 | % |  | 0.07 |  | 0.11
Expected term |  | 6 months |  |  | 6 months |  | 6 months
Dividend yield |  | 2.0 | % |  | 2.0 |  | 2.4
Expected volatility |  | 20 | % |  | 21 |  | 19
Schedule of Weighted-Average Fair Value of Stock Per Share | The weighted-average fair value of options and stock per share, including RSUs granted for the Parent's stock plans, during 2015, 2014, and 2013 is as follows:
|  | 2015 |  | 2014 |  | 2013
RSUs |  | $ | 25.22 |  |  | 21.58 |  |  | 21.03 |
ESPP: |  |  |  |  |  |  |  |
Six month option |  | 1.26 |  |  | 1.24 |  |  | 0.97 |
Discount of grant date market value |  | 4.16 |  |  | 3.87 |  |  | 3.24 |
Total ESPP |  | 5.42 |  |  | 5.11 |  |  | 4.21 |
Agent Plan: |  |  |  |  |  |  |  |  |
Discount of grant date market value |  | 2.94 |  |  | 2.42 |  |  | 2.40 |
The fair value of the CIU liability is remeasured at each reporting period through the settlement date of the awards, which is three years from the date of grant based on an amount expected to be paid. A Monte Carlo simulation is performed to approximate the projected fair value of the CIUs that, in accordance with the Cash Plan, is adjusted to reflect our performance on specified indicators as compared to targeted peer companies.
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan | Expense Recognition The following table provides share-based compensation expense in 2015, 2014, and 2013:
($ in millions) | 2015 |  | 2014 |  | 2013
Share-based compensation expense, pre-tax | $ | 23.8 |  |  | 18.6 |  |  | 19.9 |
Income tax benefit | (8.0 | ) |  | (6.2 | ) |  | (6.8 | )
Share-based compensation expense, after-tax | $ | 15.8 |  |  | 12.4 |  |  | 13.1 |

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