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Stock-based compensation (Tables)

9 Months Ended

Sep. 30, 2014

Rollforward of unvested stock-based compensation awards

A summary of our phantom stock and RSU activity during the nine months ended September 30, 2014 is presented in the following table:



	Phantom Plan						RSU Plan
	Weighted average grant date fair value		Phantom shares		Vest date fair value		Weighted average grant date fair value		Restricted Stock Units		Vest date fair value
	($ per share)						($ per share)
Unvested and outstanding at January 1, 2014	$	17.01	53,162				$	13.53	325,297
Granted	—		—				8.52		504,752
Vested	12.61		(22,041	)	$	212	13.96		(118,400	)	$	1,094
Forfeited	19.54		(6,223	)			9.85		(105,214	)
Unvested and outstanding at September 30, 2014	$	20.26	24,898				$	9.91	606,435

A summary of our restricted stock activity during the nine months ended September 30, 2014 is presented below:



	Time Vested						Performance Vested
	Weighted average grant date fair value		Restricted shares		Vest date fair value		Weighted average grant date fair value		Restricted shares
	($ per share)						($ per share)
Unvested and outstanding at January 1, 2014	$	634.67	19,246				$	307.45	46,701
Granted	818.50		5,245				204.90		10,033
Vested	649.18		(4,517	)	$	3,697	—		—
Forfeited	638.06		(1,399	)			338.51		(4,468	)
Unvested and total outstanding at September 30, 2014	$	682.80	18,575				$	285.11	52,266

Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Performance-Based Units, Vested and Expected to Vest [Table Text Block]



Return on Investment Target		Target Shares Vested
175% per share		33% of shares multiplied by the Vesting Fraction
200% per share		33% of shares multiplied by the Vesting Fraction
250% per share		33% of shares multiplied by the Vesting Fraction

Stock-based compensation cost

We recognized stock-based compensation expense as follows for the periods indicated:



	Three months ended						Nine months ended
	September 30,						September 30,
	2014			2013			2014			2013
Stock-based compensation cost	$	2,309		$	2,045		$	9,026		$	4,620
Less: stock-based compensation cost capitalized	(289		)	(505		)	(2,735		)	(1,440		)
Stock-based compensation expense	$	2,020		$	1,540		$	6,291		$	3,180

- Definition

Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

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