Quarterly report pursuant to Section 13 or 15(d)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 6 Months Ended
Jun. 30, 2015
Accounting Policies [Abstract]  
Reconciliation of Weighted-Average Outstanding Shares used in Calculations of Basic and Diluted EPS
A reconciliation of the weighted-average outstanding shares used in the two calculations is as follows:
 
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
 
2015
 
2014
 
2015
 
2014
 
 
(In millions)
Weighted-average shares outstanding (basic)
 
118.6

 
122.0

 
119.0

 
122.0

Effect of dilutive securities:
 
 

 
 

 
 

 
 

Stock options and restricted stock units
 
2.3

 
2.3

 
2.3

 
2.4

Weighted-average shares outstanding (diluted)
 
120.9

 
124.3

 
121.3

 
124.4

Items Measured at Fair Value on Recurring Basis
The following table presents items measured at fair value on a recurring basis:
 
 
 
 
 
Fair Value Measurements at Reporting Date Using:
Description
 
Fair Value of Assets
(Liabilities) at
June 30, 2015
 
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
 
Significant
Other
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
 
 
(In millions)
Deferred Compensation Plan Assets(1)
 
$
24.6

 
$
24.6

 
$
—

 
$
—

Deferred Compensation Plan Liability(1)
 
(24.6
)
 
—

 
(24.6
)
 
—

Total
 
$
—

 
$
24.6

 
$
(24.6
)
 
$
—

 
(1)        We maintain deferred compensation plans that allow for certain management employees to defer the receipt of compensation (such as salary, incentive compensation and commissions) until a later date based on the terms of the plan. The liability representing benefits accrued for plan participants is valued at the quoted market prices of the participants’ investment elections. The asset consists of mutual funds reflective of the partcipants’ investment selections and is valued at daily quoted market prices.