Share-Based Compensation

9 Months Ended

Sep. 30, 2015

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

For the three and nine months ended September 30, 2015 and 2014, we recorded share-based compensation and related tax benefits as follows:



	Three months ended September 30,						Nine months ended September 30,
(Dollars in thousands)	2015			2014			2015			2014
Share-based compensation expense	$	8,188		$	7,520		$	24,174		$	22,285
Income tax benefit related to share-based compensation expense	(3,051		)	(2,676		)	(8,381		)	(7,351		)

Unrecognized Compensation Expense

As of September 30, 2015, unrecognized share-based compensation expense was as follows:



(Dollars in thousands)	Unrecognized Expense		Average Expected Recognition Period - in Years
Stock options	$	12,756	2.45
Restricted stock units	41,726		2.64
Total unrecognized share-based compensation expense	$	54,482

Share-Based Payment Award Activity

The table below provides stock option information related to the 2006 Equity Incentive Plan for the nine months ended September 30, 2015:



	Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life in Years	Aggregate Intrinsic Value of In-The- Money Options
Outstanding at December 31, 2014	1,394,888		$	66.03
Granted	122,120		129.30
Exercised	(311,575	)	51.34
Forfeited	(22,008	)	84.40
Expired	(1,520	)	48.76
Outstanding at September 30, 2015	1,181,905		76.12		4.00	$	48,295,069
Vested and expected to vest at September 30, 2015	1,145,732		75.24		3.95	47,717,566
Exercisable at September 30, 2015	656,191		60.34		3.01	36,230,256

The aggregate intrinsic value of outstanding options shown in the table above represents the pretax intrinsic value based on our closing stock price of $115.54 as of September 30, 2015. The total intrinsic value of options exercised during the three and nine months ended September 30, 2015 was $2.2 million and $24.0 million, respectively, compared to $7.7 million and $18.4 million for the comparable 2014 periods.

The table below provides information for restricted stock units under the 2006 Equity Incentive Plan for the nine months ended September 30, 2015:



	Shares		Weighted Average Grant Date Fair Value
Nonvested at December 31, 2014	614,666		$	79.92
Granted	231,205		129.22
Vested	(211,652	)	74.02
Forfeited	(19,292	)	88.51
Nonvested at September 30, 2015	614,927		101.01