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STOCK BASED AND DEFERRED COMPENSATION (Tables) | 12 Months Ended
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Dec. 31, 2020
Share-based Payment Arrangement [Abstract] |
Summary of Nonvested (Restricted) Shares and Units Activity | We grant time-based and performance-based restricted shares or units. Performance-based restricted shares are only granted to executive officers. All performance shares only vest upon the attainment of certain financial and operational criteria as established and approved by our Board of Directors. The number of shares that may be issued to the award recipients may be greater or lesser than the target award amount depending on actual performance achieved as compared to the performance targets set forth in the awards.
|  | Nonvested Restricted Share Activity (time-based) |  | Weighted Average Grant Date Fair Value |  | Nonvested Restricted Share Activity (performance- based) |  | Weighted Average Grant Date Fair Value
Outstanding at January 1, 2018 |  | 982,652 |  |  | $ | 35.59 |  |  | 287,005 |  |  | $ | 35.80 |
Granted |  | 315,247 |  |  | 46.07 |  |  | 157,637 |  |  | 45.20 |
Vested (Earned/Released) |  | (288,709) |  |  | 37.93 |  |  | (36,801) |  |  | 41.17 |
Forfeited (1) |  | (85,900) |  |  | 37.53 |  |  | (29,386) |  |  | 41.17 |
Outstanding as of December 31, 2018 |  | 923,290 |  |  | 38.25 |  |  | 378,455 |  |  | 38.77 |
Granted (2) |  | 385,328 |  |  | 44.46 |  |  | 115,191 |  |  | 40.46 |
Vested (Earned/Released) |  | (347,555) |  |  | 37.15 |  |  | (87,737) |  |  | 34.39 |
Forfeited (1) |  | (126,443) |  |  | 40.45 |  |  | — |  |  | — |
Outstanding at December 31, 2019 |  | 834,620 |  |  | 41.25 |  |  | 405,909 |  |  | 40.20 |
Granted (3) |  | 225,593 |  |  | 72.51 |  |  | 80,193 |  |  | 61.06 |
Vested (Earned/Released) |  | (234,842) |  |  | 38.80 |  |  | (178,174) |  |  | 34.10 |
Forfeited (1) |  | (34,754) |  |  | 46.31 |  |  | — |  |  | — |
Outstanding at December 31, 2020 |  | 790,617 |  |  | $ | 50.67 |  |  | 307,928 |  |  | $ | 49.16 |
(1)Forfeitures on time-based nonvested shares are a result of terminations of employment, while forfeitures on performance-based nonvested shares are a result of failing to attain certain goals as outlined in our executive officers' compensation agreements. (2)Performance-based shares granted for the year ended December 31, 2019 includes 21,039 shares that were issued as a result of the performance achievement exceeding the performance targets related to grants to our executive officers for the year ended December 31, 2016. These shares vested in March 2019. (3)Performance-based shares granted for the year ended December 31, 2020 includes 24,054 shares that were issued as a result of the performance achievement exceeding the performance targets related to grants to our executive officers for the year ended December 31, 2017. These shares vested in February 2020.
Summary of Compensation Expense and Stock Award Activity | Below is a summary of compensation expense and stock award activity (in thousands):
|  | Years Ended December 31,
|  | 2020 |  | 2019 |  | 2018
Stock-based compensation expense |  | $ | 19,995 |  |  | $ | 19,607 |  |  | $ | 17,170 |
Summary of Additional Information Regarding Stock Plan | The following table includes additional information regarding our Plan (dollars in thousands):
|  | At December 31,
|  | 2020 |  | 2019
Unrecognized stock-based compensation cost |  | $ | 22,687 |  |  | $ | 22,341 |
Weighted average years expense recognition period |  | 2.01 |  | 1.70
Total equity awards outstanding (1) |  | 1,098,545 |  |  | 1,240,529 |
(1) Includes unvested restricted stock, performance-based awards (assuming 100% payout) and restricted stock units.

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- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
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- Definition Tabular disclosure of cost not yet recognized and weighted-average period over which cost is expected to be recognized for nonvested award under share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (i) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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