SHARE-BASED COMPENSATION PLANS

9 Months Ended

Sep. 30, 2019

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Share-based incentive awards are provided to employees under the terms of various share-based compensation plans (collectively, the “Plans”). The Plans are administered by the Compensation Committee of the Board of Directors. Awards under the Plans principally include at-the-money stock options and unvested stock. Unvested stock awards include grants of market-based, performance-based and time-vested restricted stock rights. Under the terms of our Plans, dividends on unvested stock are not paid unless the stock award vests. Upon vesting, the amount of the dividends paid is equal to the aggregate dividends declared on common shares during the period from the grant date of the award until the date the shares underlying the award are delivered.

The following table provides information on share-based compensation expense and income tax benefits recognized during the periods:


	Three months ended September 30,					Nine months ended September 30,
	2019		2018	2019		2018
	(In thousands)
Stock option and stock purchase plans	$	1,511	1,917	$	4,986	5,688
Unvested stock	5,244		5,262	16,691		13,143
Share-based compensation expense	6,755		7,179	21,677		18,831
Income tax benefit	(1,327)		(1,388)	(3,861)		(3,617)
Share-based compensation expense, net of tax	$	5,428	5,791	$	17,816	15,214

Total unrecognized pre-tax compensation expense related to all share-based compensation arrangements at September 30, 2019 was $44 million and is expected to be recognized over a weighted-average period of 1.9 years.

The following table is a summary of the awards granted under the Plans during the periods presented:


	Nine months ended September 30,
	2019	2018
	(Shares in thousands)
Stock options	220	347

Performance-based restricted stock rights	228	200
Time-vested restricted stock rights	408	167
Total	856	714