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SHARE-BASED COMPENSATION PLANS | 9 Months Ended
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Sep. 30, 2020
Share-based Payment Arrangement [Abstract] |
SHARE-BASED COMPENSATION PLANS | SHARE-BASED COMPENSATION PLANS 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, |  |
| 2020 |  | 2019 |  | 2020 |  | 2019 |  |
| (In thousands) |  |
Stock option and stock purchase plans | $ | 1,052 |  |  | $ | 1,511 |  |  | $ | 3,461 |  |  | $ | 4,986 |  |  |
Unvested stock awards | 7,337 |  |  | 5,244 |  |  | 15,558 |  |  | 16,691 |  |  |
Share-based compensation expense | 8,389 |  |  | 6,755 |  |  | 19,019 |  |  | 21,677 |  |  |
Income tax benefit | (1,470) |  |  | (1,327) |  |  | (2,955) |  |  | (3,861) |  |  |
Share-based compensation expense, net of tax | $ | 6,919 |  |  | $ | 5,428 |  |  | $ | 16,064 |  |  | $ | 17,816 |  |  |
Total unrecognized pre-tax compensation expense related to all share-based compensation arrangements at September 30, 2020 was $45 million and is expected to be recognized over a weighted-average period of 2.0 years. We generally grant awards under our various share-based compensation plans in the first quarter of each year in the annual management grant. The following table is a summary of the awards granted in the annual management grant in the first quarter of 2020:
| Shares Granted |  | Weighted-Average Fair Market Value
| (Shares in thousands) |  |  |  |
Performance-based restricted stock rights | 292 |  |  |  | $ | 37.47 |  |  |
Time-vested restricted stock rights | 557 |  |  |  | 38.45 |  |  |
Total | 849 |  |  |  | $ | 38.11 |  |  |
Restricted stock awards are unvested stock rights that are granted to employees and entitle the holder to shares of common stock as the award vests. Performance-based restricted stock awards (PBRSRs) include a performance-based vesting condition. PBRSRs are awarded based on various revenue, return-based and cash flow performance targets and a majority of PBRSRs include a total shareholder return (TSR) modifier. The fair values of the PBRSRs that include a TSR modifier are estimated using a lattice-based option-pricing valuation model that incorporates a Monte-Carlo simulation. The fair value of PBRSRs that do not include a TSR modifier is determined and fixed on the grant date based on our stock price on the date of grant. Share-based compensation expense for PBRSRs is recognized on a straight-line basis over the vesting period, based upon the probability that the performance target will be met. Time-vested restricted stock rights typically vest ratably over three years regardless of company performance. The fair value of the time-vested awards is determined and fixed based on our stock price on the date of grant. Share-based compensation expense for restricted stock awards is recognized on a straight-line basis over the vesting period.

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- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
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