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73
RSU Awards
The following table summarizes the status of our RSUs and related transactions for each of the following years (in millions,
except for weighted average grant-date fair value data and weighted average remaining contractual life):
RSUs Outstanding
Weighted
Average
Weighted Remaining
Average Aggregate Contractual
Grant-date Intrinsic Life
RSUs Fair Value Value (in Years)
As of December 31, 2012 1.0 $ 34.06 $ 39.9 1.5
Granted — 40.59
Issued (0.3) 32.00
Forfeited — 35.92
As of December 31, 2013 0.7 35.61 31.8 1.3
Granted 0.3 44.34
Issued (0.2) 36.67
Forfeited - 40.25
As of December 31, 2014 0.8 38.55 36.9 1.5
Granted 0.2 51.00
Issued (0.3) 38.80
Forfeited — 42.65
As of December 31, 2015 0.7 $ 43.10 $ 28.0 1.7
The aggregate intrinsic value of RSUs issued during 2015, 2014 and 2013 was $15.3 million, $10.1 million and $11.3 million,
respectively.
SSAR Awards
The following table summarizes the status of our outstanding and exercisable SSAR Awards and related transactions for
each of the following years (in millions, except weighted average exercise price and weighted average remaining contractual
life data):
SSAR Awards Outstanding SSAR Awards Exercisable
Weighted Weighted
Average Average
Weighted Remaining Weighted Remaining
Average Aggregate Contractual Average Aggregate Contractual
SSAR Exercise Intrinsic Life SSAR Exercise Intrinsic Life
Awards Price Value (in Years) Awards Price Value (in Years)
A
s of December 31, 2012 0.4 $ 15.30 $ 10.9 0.6 0.3 $ 16.02 $ 8.1 0.7
Granted 0.2 41.42
Exercised (0.4) 14.07
Forfeited — 37.34
A
s of December 31, 2013 0.2 37.69 1.5 3.6 — 23.25 1.1 1.0
Exercised — 22.26
Forfeited — 40.91
A
s of December 31, 2014 0.2 40.06 1.5 3.0 — $ 35.81 $ 0.6 2.2
Granted — 57.48
Exercised — 25.08
A
s of December 31, 2015 0.2 $ 42.91 $ — 2.5 — $ 42.06 $ — 2.2
The aggregate intrinsic value of SSAR Awards exercised during 2015, 2014 and 2013 was $0.5 million, $0.8 million and
$9.1 million, respectively, based on the difference between the average of the high and low market price of our common
stock at the exercise date and the SSAR Award exercise price.
As discussed in Note 1, we currently use the Black Scholes option pricing model to estimate the fair value of SSAR Awards
granted to employees and non-employee directors. The weighted average fair value of the SSAR Awards for 2015 was
$14.78 and the assumptions used to determine such fair value were as follows: expected term of 4.3 years, volatility of
30.2%, dividend yields of 0.3% and risk-free interest rates of 1.2%.There were no SSAR Awards issued in 2014. The