SHARE-BASED COMPENSATION

9 Months Ended

Sep. 30, 2017

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION

11.          SHARE-BASED COMPENSATION

During the three and nine months ended September 30, 2017, the Company granted approximately 6,900 and 304,000 in total of time-based restricted stock units and performance-based shares to certain of its employees at a weighted-average grant date fair value of $24.02 and $35.99, respectively.

Total share-based compensation cost recognized in the Condensed Consolidated Statements of Income and Comprehensive Income as a component of selling, general and administrative expenses was $2.9 million and $3.0 million for the three months ended September 30, 2017 and 2016, and $7.8 million and $9.2 million for the nine months ended September 30, 2017 and 2016, respectively.  Total unrecognized compensation cost related to unvested share-based compensation arrangements was $12.5 million at September 30, 2017, and is expected to be recognized over a weighted-average period of 1.3 years.  Total unrecognized compensation cost may be adjusted for any unearned performance shares or forfeited shares.