Share-Based Compensation

3 Months Ended

Mar. 31, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Share-Based Compensation

Share-Based Compensation

The Company recorded share-based compensation expense of approximately $6.9 million and $7.6 million for the three months ended March 31, 2016 and 2015, respectively. As of March 31, 2016, there was approximately $45.7 million of total unrecognized compensation costs related to non-vested share-based employee compensation arrangements granted under the Company’s equity compensation plans. The Company expects to recognize those costs over a weighted average period of 1.59 years.

During the three months ended March 31, 2016 and 2015, the Company issued a total of 409,220 and 732,686, respectively, of shares of its common stock upon the exercise of stock options, grants of restricted stock, and purchases under the Company’s 2010 employee stock purchase plan (ESPP). Cash received from the exercise of stock options and purchases through the ESPP during the three months ended March 31, 2016 and 2015 was $5.1 million and $12.0 million, respectively, and is included within the financing activities section of the accompanying condensed consolidated statements of cash flows.