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Stock-based Compensation
 6 Months Ended
Jun. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock-based Compensation
7.
STOCK-BASED COMPENSATION
Stock Unit Awards
Along with cash-based salaries and performance-based annual cash incentive awards, stock unit awards represent an important element of compensation to our employees. During the second quarter of 2018, we issued performance stock unit ("PSU") awards to certain employees under the Jones Lang LaSalle 2017 Stock Award and Incentive Plan, a supplement to the continued issuance of restricted stock unit ("RSU") awards. RSU and PSU activity is presented in the following tables.
 
Shares (thousands)
 
Weighted Average
Grant Date
Fair Value
Weighted Average
Remaining
Contractual Life
(in years)
Unvested as of March 31, 2018
658.0

 
$
126.31

2.20
Granted
100.7

 
164.04

 
Vested
(4.3
)
 
172.95

 
Forfeited
(4.1
)
 
129.03

 
Unvested as of June 30, 2018
750.3

 
$
131.09

2.36
 
 
 
 
 
Unvested as of March 31, 2017
785.7

 
$
117.62

1.82
Granted
11.1

 
118.00

 
Vested
(3.3
)
 
117.81

 
Forfeited
(17.6
)
 
112.71

 
Unvested as of June 30, 2017
775.9

 
$
117.74

1.61

 
Shares (thousands)
 
Weighted Average
Grant Date
Fair Value
Weighted Average
Remaining
Contractual Life
(in years)
Unvested as of December 31, 2017
727.7

 
$
118.96

1.24
Granted
220.0

 
162.33

 
Vested
(178.1
)
 
122.42

 
Forfeited
(19.3
)
 
125.56

 
Unvested as of June 30, 2018
750.3

 
$
131.09

2.36
 
 
 
 
 
Unvested as of December 31, 2016
750.9

 
$
113.97

1.71
Granted
151.9

 
116.54

 
Vested
(106.4
)
 
90.32

 
Forfeited
(20.5
)
 
113.16

 
Unvested as of June 30, 2017
775.9

 
$
117.74

1.61

We determine the fair value of RSUs, subject only to service requirements, based on the closing market price of our common stock on the grant date. PSUs are subject to service requirements and one or more performance measures, including (i) performance conditions (e.g. achievement against earnings per share targets) and (ii) for certain awards, a market condition (e.g. total shareholder return performance against a peer group). We determine the fair value of PSUs based on the closing market price of our common stock on the grant date taking into consideration the likelihood of achieving each performance condition and the market condition valuation, as applicable, based on the output of a Monte Carlo simulation.
As of June 30, 2018, we had $43.3 million of unamortized deferred compensation related to unvested restricted stock units, which we anticipate recognizing over varying periods into 2022.