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Stock-Based Compensation Plans (Tables) | 12 Months Ended
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Dec. 31, 2014
Additional Exceptional Long-Term Incentive Plan [Member] |
Fair Value of Liability Cash-Settled Long-Term Incentives | The fair value is calculated using a Monte Carlo model and is summarized as follows:
(in millions) |  | 2014 |
Balance at January 1 |  | $ | 0.0 |
Compensation charge for the period |  |  | 0.1 |
Balance at December 31 |  | $ | 0.1 |
Assumptions Used in the Monte Carlo Model | The following assumptions were used in the Monte Carlo model at December 31, 2014:
|  | 2014 |
Dividend yield |  |  | 1.29 | %
Volatility of Innospec’s share price |  |  | 26.0 | %
Risk free interest rate |  |  | 1.10 | %
Stock Options 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:
|  | 2014 |  |  | 2013 |  |  | 2012 |
Dividend yield |  |  | 1.34 | % |  |  | 0.11 | % |  |  | 0.00 | %
Expected life |  |  | 5 years |  |  |  | 5 years |  |  |  | 5 years |
Volatility |  |  | 30.7 | % |  |  | 41.1 | % |  |  | 60.1 | %
Risk free interest rate |  |  | 0.97 | % |  |  | 0.46 | % |  |  | 0.43 | %
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, 2014:
|  | Number of Options |  |  | Weighted Average Exercise Price |  |  | Weighted Average Grant-Date Fair Value |
Outstanding at December 31, 2013 |  |  | 447,390 |  |  | $ | 7.33 |  |  |  |  |
Granted – at discount |  |  | 376,925 |  |  | $ | 27.69 |  |  | $ | 14.26 |
– at market value |  |  | 21,959 |  |  | $ | 46.03 |  |  | $ | 14.18 |
Exercised |  |  | (103,282 | ) |  | $ | 4.47 |  |  |  |  |
Forfeited |  |  | (14,352 | ) |  | $ | 5.84 |  |  |  |  |
Outstanding at December 31, 2014 |  |  | 728,640 |  |  | $ | 19.55 |  |  |  |  |
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:
|  | 2014 |  |  | 2013 |  |  | 2012 |
Dividend yield |  |  | 1.29 | % |  |  | 1.08 | % |  |  | 0.00 | %
Volatility |  |  | 26.0 | % |  |  | 37.6 | % |  |  | 43.8 | %
Risk free interest rate |  |  | 1.10 | % |  |  | 0.78 | % |  |  | 0.36 | %
Summarizes Transactions of SEUs | The following table summarizes the transactions of the Company’s SEUs for the year ended December 31, 2014:
|  | Number of SEUs |  |  | Weighted Average Exercise Price |  |  | Weighted Average Grant-Date Fair Value |
Outstanding at December 31, 2013 |  |  | 403,262 |  |  | $ | 3.64 |  |  |  |  |
Granted – at discount |  |  | 54,713 |  |  | $ | 0.00 |  |  | $ | 33.84 |
– at market value |  |  | 7,147 |  |  | $ | 46.03 |  |  | $ | 14.18 |
Exercised |  |  | (170,317 | ) |  | $ | 4.70 |  |  |  |  |
Forfeited |  |  | (8,242 | ) |  | $ | 5.49 |  |  |  |  |
Outstanding at December 31, 2014 |  |  | 286,563 |  |  | $ | 3.41 |  |  |  |  |

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