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Share-Based Compensation
 6 Months Ended
Jun. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Share-Based Compensation
Share-Based Compensation
For the three and six months ended June 30, 2017 and 2016, we recorded share-based compensation and related tax benefits as follows: 
 
 
Three months ended June 30,
 
Six months ended June 30,
(Dollars in thousands)
 
2017
 
2016
 
2017
 
2016
Share-based compensation expense
 
$
9,892

 
$
7,548

 
$
19,095

 
$
14,425

Income tax benefit related to share-based compensation expense
 
(3,349
)
 
(4,581
)
 
(6,364
)
 
(6,698
)

Unrecognized Compensation Expense
As of June 30, 2017, unrecognized share-based compensation expense was as follows:
(Dollars in thousands)
 
  Unrecognized  
Expense
 
Weighted Average
Expected
Recognition
  Period - in Years  
Stock options
 
$
12,309

 
2.88
Restricted stock units
 
62,942

 
2.89
Total unrecognized share-based compensation expense
 
$
75,251

 
 

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, 2017:
 
 
Options
 
Weighted
Average
 Exercise Price 
 
Weighted Average Remaining Contractual Life - in Years  
 
Aggregate
  Intrinsic Value  
of In-The-
Money
Options
Outstanding at December 31, 2016
 
1,010,557

 
$
87.24

 
 
 
 
Granted
 
111,855

 
178.16

 
 
 
 
Exercised
 
(196,006
)
 
69.93

 
 
 
 
Forfeited
 
(3,662
)
 
93.88

 
 
 
 
Outstanding at June 30, 2017
 
922,744

 
101.91

 
4.00
 
$
68,457,617

Vested and expected to vest at June 30, 2017
 
893,276

 
100.71

 
3.94
 
67,315,191

Exercisable at June 30, 2017
 
568,202

 
82.89

 
2.95
 
52,783,813


The aggregate intrinsic value of outstanding options shown in the table above represents the pre-tax intrinsic value based on our closing stock price of $175.79 as of June 30, 2017. The total intrinsic value of options exercised during the three and six months ended June 30, 2017 was $5.6 million and $22.1 million, compared to $4.6 million and $6.7 million for the comparable 2016 periods, respectively.
The table below provides information for restricted stock units under the 2006 Equity Incentive Plan for the six months ended June 30, 2017:
 
 
Shares    
 
Weighted Average Grant Date Fair Value
Nonvested at December 31, 2016
 
670,969

 
$
106.64

Granted
 
230,822

 
179.94

Vested
 
(218,336
)
 
102.07

Forfeited
 
(16,078
)
 
117.29

Nonvested at June 30, 2017
 
667,377

 
133.23