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Share and Unit-Based Plans | 9 Months Ended
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Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Share and Unit-Based Plans | Share and Unit-Based Plans: Under the Long-Term Incentive Plan ("LTIP"), each award recipient is issued a form of operating partnership units ("LTIP Units") in the Operating Partnership. Upon the occurrence of specified events and subject to the satisfaction of applicable vesting conditions, LTIP Units (after conversion into OP Units) are ultimately redeemable for common stock of the Company, or cash at the Company's option, on a one-unit for one-share basis. LTIP Units receive cash dividends based on the dividend amount paid on the common stock of the Company. The LTIP may include both market-indexed awards and service-based awards. The market-indexed LTIP Units vest over the service period of the award based on the percentile ranking of the Company in terms of total return to the stockholders (the "Total Return") per common stock share relative to the Total Return of a group of peer REITs, as measured at the end of the measurement period. On January 1, 2016, the Company granted 58,786 LTIP Units with a grant date fair value of $80.69 per LTIP Unit that will vest in equal annual installments over a service period ending December 31, 2018. Concurrently, the Company granted 266,899 market-indexed LTIP Units ("2016 LTIP Units") at a grant date fair value of $53.32 per LTIP Unit that vest over a service period ending December 31, 2018. The fair value of the 2016 LTIP Units was estimated on the date of grant using a Monte Carlo Simulation model that assumed a risk free interest rate of 1.32% and an expected volatility of 20.31%. On March 4, 2016, the Company granted 154,686 LTIP Units at a fair value of $79.20 per LTIP Unit that were fully vested on the grant date. The following summarizes the compensation cost under the share and unit-based plans:
| For the Three Months Ended September 30, |  | For the Nine Months Ended September 30,
| 2016 |  | 2015 |  | 2016 |  | 2015
LTIP Units | $ | 5,204 |  |  | $ | 3,812 |  |  | $ | 27,752 |  |  | $ | 22,810 |
Stock awards | — |  |  | 28 |  |  | 20 |  |  | 225 |
Stock units | 965 |  |  | 881 |  |  | 5,339 |  |  | 5,214 |
Stock options | 4 |  |  | 4 |  |  | 12 |  |  | 12 |
Phantom stock units | 212 |  |  | 248 |  |  | 1,010 |  |  | 827 |
| $ | 6,385 |  |  | $ | 4,973 |  |  | $ | 34,133 |  |  | $ | 29,088 |
The Company capitalized share and unit-based compensation costs of $750 and $551 for the three months ended September 30, 2016 and 2015, respectively, and $6,490 and $5,459 for the nine months ended September 30, 2016 and 2015, respectively. Unrecognized compensation costs of share and unit-based plans at September 30, 2016 consisted of $7,602 from LTIP Units, $4,696 from stock units, $15 from stock options and $610 from phantom stock units. The following table summarizes the activity of the non-vested LTIP Units, stock awards, phantom stock units and stock units:
| LTIP Units |  | Stock Awards |  | Phantom Stock Units |  | Stock Units
| Units |  | Value(1) |  | Shares |  | Value(1) |  | Units |  | Value(1) |  | Units |  | Value(1)
Balance at January 1, 2016 | 56,315 |  |  | $ | 73.24 |  |  | 1,612 |  |  | $ | 62.01 |  |  | — |  |  | $ | — |  |  | 132,086 |  |  | $ | 74.58 |
Granted | 480,371 |  |  | 65.00 |  |  | — |  |  | — |  |  | 19,814 |  |  | 80.99 |  |  | 85,388 |  |  | 79.25 |
Vested | (154,686 | ) |  | 79.20 |  |  | (1,612 | ) |  | 62.01 |  |  | (12,319 | ) |  | 80.73 |  |  | (69,046 | ) |  | 71.83 |
Forfeited | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Balance at September 30, 2016 | 382,000 |  |  | $ | 60.47 |  |  | — |  |  | $ | — |  |  | 7,495 |  |  | $ | 81.42 |  |  | 148,428 |  |  | $ | 78.53 |
(1) Value represents the weighted average grant date fair value. The following table summarizes the activity of the stock appreciations rights ("SARs") and stock options outstanding:
| SARs |  | Stock Options
| Units |  | Value(1) |  | Units |  | Value(1)
Balance at January 1, 2016 | 417,783 |  |  | $ | 55.13 |  |  | 10,314 |  |  | $ | 58.15 |
Granted | — |  |  | — |  |  | — |  |  | — |
Exercised | (143,822 | ) |  | 53.73 |  |  | — |  |  | — |
Special dividend adjustment (2) | 10,185 |  |  | 53.88 |  |  | 251 |  |  | 56.77 |
Balance at September 30, 2016 | 284,146 |  |  | $ | 53.85 |  |  | 10,565 |  |  | $ | 56.77 |
(1) Value represents the weighted average exercise price. (2) The exercise price and number of units were adjusted such that each unit had the same fair value to the holder before and after giving effect to the payout of the Special Dividend paid on January 6, 2016 (See Note 12—Stockholders' Equity).

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- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=65895303&loc=d3e17540-113929 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=68057994&loc=d3e25284-112666 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 14) -URI http://asc.fasb.org/extlink&oid=27013229&loc=d3e301413-122809 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901 + Details
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