Equity-Based Compensation (Tables)

12 Months Ended

Dec. 31, 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):

	Year Ended December 31,
	2018		2017		2016
Expense from Time-based RSUs	$	5,110	$	2,523	$	2,330
Expense from Performance-based RSUs		4,066		377		-
Equity-based compensation expense		9,176		2,900		2,330
Tax benefit from equity-based compensation		(1,297)		(637)		(511)
Excess tax benefit from equity-based compensation		(145)		(324)		(261)
Net compensation cost	$	7,734	$	1,939	$	1,558

Time-based Restricted Stock Units

Restricted Stock Units

The following table summarizes equity-based compensation activity related to time-based RSUs for the year ended December 31, 2018:  

	Time-based restricted stock units		Weighted average grant date fair value per share
Balance, January 1, 2018	105,862	$	41.67
Granted	271,941	$	53.04
Shares vested (including tax withholding)(a)	(70,650)	$	41.50
Forfeited	(8,543)	$	44.82
Balance, December 31, 2018	298,610	$	51.97

(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.

The following table summarizes information about our RSU grants during the years ended December 31, 2018, 2017 and 2016:

	Year ended December 31,
		2018		2017		2016
Weighted average grant date fair value per RSU granted	$	53.04	$	55.45	$	33.24

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
Shares vested	(2,811)	$	56.59
Forfeited	(6,099)	$	57.06
Balance, December 31, 2018	179,615	$	55.75

(a) Represents the total participant target award.