Share-Based Compensation

6 Months Ended

Jun. 30, 2014

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

For the three and six months ended June 30, 2014 and 2013, we recorded share-based compensation and related tax benefits as follows:



	Three months ended June 30,						Six months ended June 30,
(Dollars in thousands)	2014			2013			2014			2013
Share-based compensation expense	$	7,687		$	6,396		$	14,765		$	12,222
Income tax benefit related to share-based compensation expense	(2,515		)	(1,955		)	(4,675		)	(3,558		)

Unrecognized Compensation Expense

As of June 30, 2014, unrecognized share-based compensation expense was as follows:



(Dollars in thousands)	Unrecognized Expense		Average Expected Recognition Period - in Years
Stock options	$	18,118	2.80
Restricted stock units	38,897		2.69
Total unrecognized share-based compensation expense	$	57,015

Share-Based Payment Award Activity

The table below provides stock option information related to the 2006 Equity Incentive Plan for the six months ended June 30, 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	229,476		108.30
Exercised	(160,652	)	46.96
Forfeited	(13,654	)	70.36
Outstanding at June 30, 2014	1,569,329		63.74		4.38	$	83,017,236
Vested and expected to vest at June 30, 2014	1,510,886		62.94		4.32	81,128,378
Exercisable at June 30, 2014	820,343		50.28		3.28	54,421,775

The aggregate intrinsic value of outstanding options shown in the table above represents the pretax intrinsic value based on our closing stock price of $116.62 as of June 30, 2014. The total intrinsic value of options exercised during the three and six months ended June 30, 2014 was $3.5 million and $10.7 million, respectively, compared to $7.2 million and $11.9 million for the comparable 2013 period.

The table below provides information for restricted stock units under the 2006 Equity Incentive Plan for the six months ended June 30, 2014:



	Shares		Weighted Average Grant Date Fair Value
Nonvested at December 31, 2013	682,347		$	65.93
Granted	180,679		108.06
Vested	(196,253	)	64.08
Forfeited	(11,549	)	71.33
Nonvested at June 30, 2014	655,224		78.00

- 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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