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Stock-Based Compensation Plans (Tables)
12 Months Ended
Dec. 31, 2013
Fair Value of Liability Cash-Settled Stock Appreciation Rights

The fair value of these liability cash-settled stock appreciation rights was calculated on a quarterly basis using a Monte Carlo model and is summarized as follows:

 

(in millions)

       2013             2012             2011      

Balance at January 1

   $ 1.3      $ 2.2      $ 0.8   

Compensation charge

     0.0        5.8        1.4   

Cash paid

     (1.3     (6.7     0.0   
  

 

 

   

 

 

   

 

 

 

Balance at December 31

   $ 0.0      $ 1.3      $ 2.2   
  

 

 

   

 

 

   

 

 

 
Long Term Incentive Plan [Member]
 
Assumptions Used in the Monte Carlo Model

The following assumptions were used in the Monte Carlo model:

 

         2012             2011      

Dividend yield

     0.0     0.0

Volatility

     0.0     53.5

Risk free interest rate

     0.36     0.36
Stock Option Plan [Member]
 
Assumptions Used to Determine Grant-Date Fair Value of Options

The following weighted average assumptions were used to determine the grant-date fair value of options:

 

      2013     2012     2011  

Dividend yield

     0.11     0.0     0.2

Expected life

     5 years        5 years        5 years   

Volatility

     41.1     60.1     78.3

Risk free interest rate

     0.46     0.43     1.22
Summary of Transactions of the Company's Stock Option Plans

The following table summarizes the transactions of the Company’s stock option plans for the year ended December 31, 2013:

 

      Number of
Options
    Weighted
Average
Exercise Price
     Weighted
Average
Grant-Date
Fair Value
 

Outstanding at December 31, 2012

     1,001,241      $ 6.27      

Granted – at discount

     78,828      $ 0.00       $ 36.30   

      – at market value

     22,161      $ 41.27       $ 16.09   

Exercised

     (629,152   $ 5.96      

Forfeited

     (25,688   $ 6.21      
  

 

 

      

Outstanding at December 31, 2013

     447,390      $ 7.33      
  

 

 

      
Stock Equivalent Units [Member]
 
Assumptions Used to Determine Fair Value of SEUs

The following assumptions were used to determine the fair value of SEUs at the balance sheet dates:

 

         2013             2012             2011      

Dividend yield

     1.08     0.0     0.0

Volatility

     37.61     43.8     64.2

Risk free interest rate

     0.78     0.36     0.36
Summarizes the Transactions of the SEUs

The following table summarizes the transactions of the Company’s SEUs for the year ended December 31, 2013:

 

     Number
of SEUs
    Weighted
Average
Exercise Price
     Weighted
Average
Grant-Date
Fair Value
 

Outstanding at December 31, 2012

     623,828      $ 2.95      

Granted – at discount

     59,028      $ 0.00       $ 35.29   

      – at market value

     6,970      $ 41.31       $ 16.09   

Exercised

     (281,703   $ 2.25      

Forfeited

     (4,861   $ 5.04      
  

 

 

      

Outstanding at December 31, 2013

     403,262      $ 3.64