Equity-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2018

Employee Stock-Based Compensation Expense

Employee stock-based compensation expense under the Company’s 2013 Incentive Plan, net of the amount capitalized in internally developed software, is as follows (in thousands):

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2018		2017		2018		2017
Expense from Time-based RSUs	$	1,412	$	750	$	3,270	$	1,892
Expense from Performance-based RSUs		1,305		118		2,871		269
Equity-based compensation expense		2,717		868		6,141		2,161
Tax benefit from equity-based compensation		(384)		(191)		(868)		(475)
Excess tax benefit from equity-based compensation		—		—		(145)		(324)
Net compensation cost	$	2,333	$	677	$	5,128	$	1,362

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	253,315	$	54.06
Shares vested (including tax withholding)(a)	(64,878)	$	40.96
Forfeited	(4,477)	$	42.38
Balance, September 30, 2018	289,822	$	52.65

(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)	156,694	$	55.38
Forfeited	(3,213)	$	57.55
Balance, September 30, 2018	185,312	$	55.77

(a) Represents the total participant target award.