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Equity Based Compensation
3 Months Ended
Mar. 31, 2013
Equity Based Compensation [Abstract]  
Equity Based Compensation

10. Equity Based Compensation

Equity compensation expense was $9.7 million and $8.4 million in the first quarter of 2013 and 2012, respectively. In the first quarter of 2013, the Company granted 0.7 million stock appreciation rights at $58.77 weighted average exercise price per share and 0.3 million performance contingent units to employees. Additionally, non-employee directors were granted a total of 14,200 shares of common stock. As of March 31, 2013, 2.1 million share options at $49.29 weighted average per share were vested and exercisable with a remaining weighted average exercise period of 5.1 years. As of March 31, 2013, the total compensation cost of non-vested awards not yet recognized in the financial statements was $44.6 million. It is estimated that these costs will vest over a weighted average period of 3.1 years.