Equity-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2018

Employee Stock-Based Compensation Expense

Employee stock-based compensation expense under the Company’s 2013 Incentive Plan was as follows (in thousands):

	Three Months Ended
	March 31,
	2018		2017
Expense from Time-based RSUs	$	800	$	527
Expense from Performance-based RSUs		468		35
Equity-based compensation expense		1,268		562
Tax benefit from equity-based compensation		(179)		(123)
Excess tax benefit from equity-based compensation		(72)		(207)
Net compensation cost	$	1,017	$	232

Time-based Restricted Stock Units

Restricted Stock Units

	Time-based restricted stock units		Weighted average grant date fair value per share
Balance, January 1, 2018	105,862	$	41.67
Granted	174,708	$	55.51
Shares vested (including tax withholding)(a)	(46,520)	$	44.32
Balance, March 31, 2018	234,050	$	51.48

(a) Pursuant to the terms of the 2013 Incentive Plan, RSUs withheld by the Company for the payment of the employee's tax withholding related to an RSU vesting are added back to the pool of shares available for future awards.

Performance-based Restricted Stock Units

Restricted Stock Units

	Performance-based restricted stock units		Weighted average grant date fair value per share
Balance, January 1, 2018	31,831	$	57.88
Granted (a)	107,311	$	55.20
Balance, March 31, 2018	139,142	$	55.81

(a) Represents the total participant target award.