SHARE-BASED COMPENSATION

9 Months Ended

Sep. 30, 2015

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION

6.SHARE-BASED COMPENSATION

During the three months ended September 30, 2015, the Company granted approximately 3,300 in total of time-based and performance-based shares to certain of its employees at a weighted-average grant date fair value of $37.78.

Total stock-based compensation cost recognized in the Condensed Consolidated Statements of Income and Comprehensive Income as a component of selling, general and administrative expenses was $2.0 million and $1.9 million for the three months ended September 30, 2015 and 2014, respectively, and $9.6 million and $5.6 million for the nine months ended September 30, 2015 and 2014, respectively.  Total unrecognized compensation cost related to unvested share-based compensation arrangements was $11.1 million at September 30, 2015, and is expected to be recognized over a weighted-average period of 1.83 years.  Total unrecognized compensation cost may be adjusted for any unearned performance shares or forfeited shares.