11.	Long-term incentive compensation

Long-term incentive program (LTIP) compensation includes both stock-based awards (principally stock-settled stock appreciation rights, restricted stock units and performance stock units) as well as long-term performance-based cash awards. Long-term incentive compensation expense, which was primarily general and administrative in nature, was attributed to the dialysis and related lab services business, the HCP business, corporate support costs, and the ancillary services and strategic initiatives.

The Company’s stock-based compensation awards are measured at their estimated fair values on the date of grant if settled in shares or at their estimated fair values at the end of each reporting period if settled in cash. The value of stock-based awards so measured is recognized as compensation expense on a cumulative straight-line basis over the vesting terms of the awards, adjusted for expected forfeitures.

During the three months ended March 31, 2015, the Company granted 77 stock-settled stock appreciation rights with an aggregate grant-date fair value of $1,304 and a weighted-average expected life of approximately 4.1 years, and also granted 64 stock units with an aggregate grant-date fair value of $4,923 and a weighted-average expected life of approximately 2.4 years.

For the three months ended March 31, 2015 and 2014, the Company recognized $33,451 and $23,100, respectively, in total LTIP expense, of which $12,762 and $15,074, respectively, was stock-based compensation expense for stock appreciation rights, stock units and discounted employee stock plan purchases, which are primarily included in general and administrative expenses. The estimated tax benefits recorded for stock-based compensation through March 31, 2015 and 2014 was $4,458 and $5,580, respectively. As of March 31, 2015, there was $115,104 of total estimated unrecognized compensation cost for outstanding LTIP awards, including $69,224 related to stock-based compensation arrangements under the Company’s equity compensation and stock purchase plans. The Company expects to recognize the performance-based cash component of these LTIP costs over a weighted average remaining period of 1.0 year and the stock-based component of these LTIP costs over a weighted average remaining period of 1.2 years.

For the three months ended March 31, 2015 and 2014, the Company received $9,366 and $22,978, respectively, in actual tax benefits upon the exercise of stock awards.