SHARE-BASED COMPENSATION

3 Months Ended

Mar. 31, 2018

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION

10.          SHARE-BASED COMPENSATION

During the three months ended March 31, 2018, the Company granted approximately 351,600 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 $31.35.  

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 $2.7 million and $2.6 million for the three months ended March 31, 2018 and 2017, respectively.  Total unrecognized compensation cost related to unvested share-based compensation arrangements was $19.6 million at March 31, 2018, 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.