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Stock-Based Compensation
6 Months Ended
Jun. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock-Based Compensation
STOCK-BASED COMPENSATION
The Company accounts for stock-based compensation in accordance with the fair value recognition provisions of FASB ASC Topic 718, Compensation – Stock Compensation. The Company recognized compensation expense of $6.3 million and $14.2 million, and related income tax benefits of $1.3 million and $2.9 million, for grants under its stock-based compensation plans for the quarter and year-to-date ended June 30, 2018, respectively. The Company recognized compensation expense of $5.3 million and $13.0 million, and related income tax benefits of $1.8 million and $4.4 million, for grants under its stock-based compensation plans for the quarter and year-to-date ended July 1, 2017, respectively.
The Company grants restricted stock or units (“restricted awards”), performance-based restricted stock or units (“performance awards”) and stock options under its stock-based compensation plans.
During the year-to-date ended June 30, 2018, the Company issued 570,027 restricted awards at a weighted average grant date fair value of $31.60 per award. During the year-to-date ended July 1, 2017, the Company issued 744,504 restricted awards at a weighted average grant date fair value of $22.94 per award.
During the year-to-date ended June 30, 2018, the Company issued 346,331 performance awards at a weighted average grant date fair value of $31.79 per award. During the year-to-date ended July 1, 2017, the Company issued 488,918 performance awards at a weighted average grant date fair value of $25.02 per award.