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SHARE-BASED COMPENSATION
3 Months Ended
Mar. 31, 2016
SHARE-BASED COMPENSATION  
SHARE-BASED COMPENSATION

6.SHARE-BASED COMPENSATION

 

During the three months ended March 31, 2016, the Company granted approximately 289,802 in total of time-based and performance-based shares to certain of its employees at a $37.64 weighted-average grant date fair value.

 

Total stock-based compensation cost recognized in the Condensed Consolidated Statements of Income and Comprehensive Income as a component of selling, general and administrative expenses was $2.8 million for both the three months ended March 31, 2016 and 2015.  Total unrecognized compensation cost related to unvested share-based compensation arrangements was $17.3 million at March 31, 2016, and is expected to be recognized over a weighted-average period of 2.3 years.  Total unrecognized compensation cost may be adjusted for any unearned performance shares or forfeited shares.