Share-Based Compensation

3 Months Ended

Mar. 31, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

For the three months ended March 31, 2014 and 2013, we recorded share-based compensation and related tax benefits as follows:



	Three months ended March 31,
(Dollars in thousands)	2014			2013
Share-based compensation expense	$	7,078		$	5,826
Income tax benefit related to share-based compensation expense	(2,160		)	(1,603		)

Unrecognized Compensation Expense

As of March 31, 2014, unrecognized share-based compensation expense was as follows:



(Dollars in thousands)	Unrecognized Expense		Average Expected Recognition Period - in Years
Stock options	$	13,315	2.39
Restricted stock units	26,893		2.39
Total unrecognized share-based compensation expense	$	40,208

Share-Based Payment Award Activity

The table below provides stock option information related to the 2006 Equity Incentive Plan for the three months ended March 31, 2014:



	Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life in Years	Aggregate Intrinsic Value of In-The- Money Options
Outstanding at December 31, 2013	1,514,159		$	55.27
Granted	9,600		116.05
Exercised	(99,429	)	44.57
Forfeited	(5,957	)	66.22
Outstanding at March 31, 2014	1,418,373		56.38		4.20	$	102,687,693
Vested and expected to vest at March 31, 2014	1,380,441		56.05		4.16	100,401,661
Exercisable at March 31, 2014	587,639		44.59		2.96	49,473,911

The aggregate intrinsic value of outstanding options shown in the table above represents the pretax intrinsic value based on our closing stock price of $128.78 as of March 31, 2014. The total intrinsic value of options exercised during the three months ended March 31, 2014 was $7.2 million, compared to $4.7 million for the comparable 2013 period.

The table below provides information for restricted stock units under the 2006 Equity Incentive Plan for the three months ended March 31, 2014:



	Shares		Weighted Average Grant Date Fair Value
Nonvested at December 31, 2013	682,347		$	65.93
Granted	3,610		116.78
Vested	(5,462	)	54.57
Forfeited	(5,033	)	65.31
Nonvested at March 31, 2014	675,462		66.30

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

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