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SHARE-BASED COMPENSATION
9 Months Ended
Sep. 30, 2016
SHARE-BASED COMPENSATION  
SHARE-BASED COMPENSATION

6.          SHARE-BASED COMPENSATION

 

During the three and nine months ended September 30, 2016, the Company granted approximately 15,500 and 325,000 of time-based and performance-based shares to certain of its employees at a $36.95 and $37.64 weighted-average grant date fair value, respectively. 

 

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 $3.0 million and $2.0 million for the three months ended September 30, 2016 and 2015, respectively, and $9.2 million and $9.6 million for the nine months ended September 30, 2016 and 2015, respectively.  Total unrecognized compensation cost related to unvested share-based compensation arrangements was $14.9 million at September 30, 2016, and is expected to be recognized over a weighted-average period of 1.9 years.  Total unrecognized compensation cost may be adjusted for any unearned performance shares or forfeited shares.