Share-Based Compensation

3 Months Ended

Mar. 31, 2016


14.	Share-Based Compensation

Our share-based compensation plans are described in Note 17 of our annual report on Form 10-K for the year ended December 31, 2015. During the three months ended March 31, 2016 and 2015, we recognized total Share-Based Compensation Expense of $2,637 and $2,707, respectively. The total excess tax benefit recognized for share-based compensation arrangements during the three months ended March 31, 2016 and 2015 was $134 and $648, respectively.

During the first three months of 2016, we granted 20,609 restricted shares. The weighted average grant date fair value of each share awarded was $52.42. Restricted share awards generally have a three year vesting period from the effective date of the grant. The total fair value of shares vested during the three months ended March 31, 2016 and 2015 was $1,021 and $811, respectively.