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Equity Based Compensation
3 Months Ended
Mar. 31, 2020
Share-based Payment Arrangement [Abstract]  
Equity Based Compensation
Equity Based Compensation
Equity compensation expense was $5 million and $8 million for the three months ended March 31, 2020 and 2019, respectively. In the first quarter of 2020, the Company granted 456,301 stock appreciation rights at $117.85 weighted average exercise price per share, 175,047 performance contingent units and 30,129 restricted stock units to employees. As of March 31, 2020, 1,386,800 share options at a weighted average strike price per share of $85.96 were vested and exercisable, with a remaining weighted average exercise period of 4.5 years. As of March 31, 2020, the total compensation cost of non-vested awards not yet recognized in the condensed consolidated financial statements was $43 million. It is estimated that these costs will vest over a weighted average period of 1.2 years.