XML 26 R14.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Stock-based Compensation Plans | 9 Months Ended
--- | ---
Jun. 30, 2018
Share-based Compensation [Abstract] |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | Stock-based Compensation Plans We have granted various forms of stock-based compensation, including stock options, restricted stock units and both cash-settled and stock-settled performance-based restricted stock units (“PRSUs”) under our Amended and Restated 2006 Mueller Water Products, Inc. Stock Incentive Plan (the “2006 Stock Plan”). A PRSU award represents a target number of units that may be paid out at the end of a multi-year award cycle consisting of a series of annual performance periods coinciding with our fiscal years. After we determine the financial performance targets related to PRSUs for a given performance period, typically during the first quarter of that fiscal year, we consider that portion of a PRSU award to be granted. Thus, each award consists of a grant in the year of award and grants in the designated following years. Settlement will range from zero to two times the number of PRSUs granted, depending on our financial performance against the targets. As determined at the date of award, PRSUs may settle in cash-value equivalent of, or directly in, shares of our common stock. We awarded 171,288 stock-settled PRSUs in the nine months ended June 30, 2018 scheduled to settle in three years. We issued 146,061 shares and 263,410 shares of common stock during the nine months ended June 30, 2018 and 2017, respectively, to settle PRSUs. In addition to the PRSU activity, 3,333 and 342,038 restricted stock units vested during the three and nine months ended June 30, 2018, respectively. We have granted cash-settled Phantom Plan instruments under the Mueller Water Products, Inc. Phantom Plan (“Phantom Plan”). At June 30, 2018, the outstanding Phantom Plan instruments had a fair value of $11.72 per instrument and our liability for Phantom Plan instruments was $1.7 million. We granted stock-based compensation awards under the 2006 Stock Plan, the Mueller Water Products, Inc. 2006 Employee Stock Purchase Plan and the Phantom Plan during the nine months ended June 30, 2018 as follows.
|  | Number granted |  | Weighted average grant date fair value per instrument |  | Total grant date fair value (in millions)
Quarter ended December 31, 2017: |  |  |  |  |  |
Restricted stock units |  | 171,288 |  |  | $ | 12.41 |  |  | $ | 2.1 |
Employee stock purchase plan instruments |  | 35,099 |  |  | 2.28 |  |  | 0.1 |
Phantom Plan awards |  | 160,672 |  |  | 12.41 |  |  | 2.0 |
PRSUs: 2018 award |  | 57,092 |  |  | 12.41 |  |  | 0.7 |
2017 award |  | 71,070 |  |  | 12.41 |  |  | 0.9 |
2016 award |  | 71,072 |  |  | 12.41 |  |  | 0.9 |
Quarter ended March 31, 2018: |  |  |  |  |  |
Restricted stock units |  | 63,389 |  |  | 11.67 |  |  | 0.7 |
Employee stock purchase plan instruments |  | 32,702 |  |  | 2.49 |  |  | 0.1 |
Phantom Plan awards |  | 2,527 |  |  | 10.95 |  |  | — |
Quarter ended June 30, 2018: |  |  |  |  |  |
Employee stock purchase plan instruments |  | 37,939 |  |  | 2.16 |  |  | 0.1 |
|  |  |  |  |  | $ | 7.6 |
Income from continuing operations included stock-based compensation expense of $1.2 million and $0.4 million during the three months ended June 30, 2018 and 2017, respectively, and $5.3 million and $5.1 million during the nine months ended June 30, 2018 and 2017, respectively. At June 30, 2018, there was approximately $6.6 million of unrecognized compensation expense related to stock-based compensation arrangements, and 178,105 PRSUs that have been awarded for the 2019 and 2020 performance periods, for which performance goals have not been set. We excluded 213,599 and 165,186 of stock-based compensation instruments from the calculations of diluted earnings per share for the quarters ended June 30, 2018 and 2017, respectively, and 245,033 and 208,868 for the nine months ended June 30, 2018 and 2017, respectively, since their inclusion would have been antidilutive.

X
- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -URI http://asc.fasb.org/subtopic&trid=2208855 + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_ShareBasedCompensationAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration