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Stock-Based Compensation
 9 Months Ended
Sep. 30, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Stock-Based Compensation

7.Stock-Based Compensation

We recorded the following pre-tax amounts in selling and administrative expenses for stock-based compensation, by operating segment, in the accompanying consolidated financial statements (in thousands):

 

 

 

Three Months Ended

September 30,

 

 

Nine Months Ended

September 30,

 

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

North America

 

$

3,347

 

 

$

3,102

 

 

$

8,732

 

 

$

8,965

 

EMEA

 

$

1,006

 

 

 

860

 

 

 

2,588

 

 

 

2,544

 

APAC

 

$

160

 

 

 

136

 

 

 

434

 

 

 

386

 

Total Consolidated

 

$

4,513

 

 

$

4,098

 

 

$

11,754

 

 

$

11,895

 

 

As of September 30, 2020, total compensation cost related to nonvested RSUs not yet recognized is $25,871,000, which is expected to be recognized over the next 1.33 years on a weighted-average basis.  

The following table summarizes our RSU activity during the nine months ended September 30, 2020:

 

 

 

Number

 

 

Weighted

Average

Grant Date

Fair Value

 

 

Fair Value

 

 

Nonvested at January 1, 2020

 

 

923,400

 

 

$

45.58

 

 

 

 

 

 

Granted(a)

 

 

322,506

 

 

 

57.78

 

 

 

 

 

 

Vested, including shares withheld to cover taxes

 

 

(368,377

)

 

 

42.54

 

 

$

15,670,905

 

(b)

Forfeited

 

 

(73,284

)

 

 

51.66

 

 

 

 

 

 

Nonvested at September 30, 2020 (a)

 

 

804,245

 

 

 

51.31

 

 

$

45,504,182

 

(c)

 

 

(a)

Includes 83,661 RSUs subject to remaining performance conditions.  The number of RSUs subject to performance conditions are based on the Company achieving 100% of its 2020 targeted financial results.  We currently estimate that these RSUs will be awarded at 90% this annual period based on achievement towards the 2020 performance targets.  

 

(b)

The aggregate fair value of vested RSUs represents the total pre-tax fair value, based on the closing stock price on the day of vesting, which would have been received by holders of RSUs had all such holders sold their underlying shares on that date.  

 

(c)

The aggregate fair value of the nonvested RSUs and the RSUs expected to vest represents the total pre-tax fair value, based on our closing stock price of $56.58 as of September 30, 2020, which would have been received by holders of RSUs had all such holders sold their underlying shares on that date.