Stock Compensation Expense

3 Months Ended

Mar. 31, 2018

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

Stock Compensation Expense

Stock Compensation Expense

The Company recorded stock compensation expense of approximately $4.5 million and $6.6 million for the three months ended March 31, 2018 and 2017, respectively. As of March 31, 2018, there was approximately $24.0 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 1.2 years.

During the three months ended March 31, 2018 and 2017, the Company issued a total of 427,919 and 1,098,739, 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, 2018 and 2017 was $8.7 million and $24.7 million, respectively, and is included within the financing activities section of the accompanying condensed consolidated statements of cash flows.