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SHARE-BASED COMPENSATION
3 Months Ended
Mar. 31, 2015
SHARE-BASED COMPENSATION  
SHARE-BASED COMPENSATION

 

6.SHARE-BASED COMPENSATION

 

During the three-months period ended March 31, 2015, the Company granted approximately 226,000 in total of time-based and performance-based shares to certain of its employees at a weighted-average grant date fair value of $35.28.  The number of performance shares awarded represents the maximum that can be earned, and will ultimately depend on the Company’s performance.

 

Total stock-based compensation cost recognized in the Condensed Consolidated Financial Statements of Income and Comprehensive Income as a component of selling, general and administrative costs was $2.8 million and $1.8 million for the three-months periods ended March 31, 2015 and 2014, respectively.  Total unrecognized compensation cost related to unvested share-based compensation arrangements was $14.8 million at March 31, 2015, and is expected to be recognized over a weighted-average period of 2.2 years.  Total unrecognized compensation cost may be adjusted for any unearned performance shares or forfeited shares.