SHARE-BASED COMPENSATION

9 Months Ended

Sep. 30, 2018

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION

10.          SHARE-BASED COMPENSATION

During the three and nine months ended September 30, 2018, the Company granted approximately 2,700 and 383,700 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 $36.58 and $31.21, 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 $2.7 million and $2.9 million for the three months ended September 30, 2018 and 2017, and $8.2 million and $7.8 million for the nine months ended September 30, 2018 and 2017, respectively.  Total unrecognized compensation cost related to unvested share-based compensation arrangements was $14.9 million at September 30, 2018, and is expected to be recognized over a weighted-average period of 1.8 years.  Total unrecognized compensation cost may be adjusted for any unearned performance shares or forfeited shares.