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Stock-based Compensation | 9 Months Ended
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Sep. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Stock-based Compensation | 8. Stock-based Compensation The Company has an Omnibus Incentive and Equity Plan (the “Plan”) under which officers, employees and directors may be granted equity-based awards, including restricted stock units (“RSUs”), stock options and unrestricted shares of common stock. At September 30, 2014, 427,045 shares of common stock remain available for issuance of the 1,800,000 shares that were reserved for issuance under the Plan. Each RSU entitles the holder to one share of common stock when the restriction expires. RSUs generally have a term of one to three years and may be time-vested or performance-contingent. Stock options generally cliff vest after three years and have a contractual life of ten years. Stock options are granted with an exercise price equal to the fair market value of the shares at the date of grant. The fair value of each RSU is estimated using the intrinsic value method, which is based on the fair market value price on the date of grant unless it contains a performance metric that is considered a market condition. RSUs that contain a market condition are valued using a simulation valuation model. Shares that are issued upon exercise of stock options and vesting of RSUs are newly issued shares from the Plan and are not issued from treasury stock. Restricted Stock Units RSU activity for the nine months ended September 30, 2014 is summarized as follows:
|  | Number of Shares |  |  | Weighted Average Grant Date Fair Value |
Outstanding at December 31, 2013 |  |  | 233,763 |  |  | $ | 87.97 |
Granted |  |  | 76,387 |  |  | $ | 184.31 |
Forfeited |  |  | (10,966 | ) |  | $ | 132.15 |
Settled |  |  | (117,914 | ) |  | $ | 60.91 |
Outstanding at September 30, 2014 |  |  | 181,270 |  |  | $ | 143.50 |
For the nine months ended September 30, 2014 and 2013, a total of 50,952 and 38,128 RSUs, respectively, were withheld by the Company as a result of net share settlements to satisfy employee tax withholding obligations. During the nine months ended September 30, 2014 and 2013, the Company paid $9.5 million and $7.5 million, respectively, in employee tax withholding obligations related to employee share transactions during each period. These net share settlements had the effect of share repurchases by the Company as they reduced the number of shares that would have been otherwise issued as a result of the vesting or exercise. Stock Options Stock option activity for the nine months ended September 30, 2014 is summarized as follows:
|  | Number of Shares |  |  | Weighted Average Exercise Price |
Outstanding at December 31, 2013 |  |  | 190,160 |  |  | $ | 20.11 |
Granted |  |  | — |  |  | $ | — |
Exercised |  |  | (22,912 | ) |  | $ | 29.42 |
Forfeited |  |  | — |  |  | $ | — |
Outstanding at September 30, 2014 |  |  | 167,248 |  |  | $ | 18.83 |
The Company recognized total stock compensation expense of $2.5 million and $2.0 million, respectively, and $7.0 million and $6.0 million, respectively, for the three and nine months ended September 30, 2014 and 2013. As of September 30, 2014 and 2013, unamortized stock-based compensation expense for unvested RSUs was $15.1 million and $11.2 million, with a weighted-average remaining amortization period of 1.4 years and 1.2 years, respectively. There was no unamortized stock-based compensation expense related to stock options as of September 30, 2014 as all outstanding options were fully vested and unamortized stock-based compensation expense related to stock options was $0.1 million with a weighted-average remaining amortization period of 0.5 years at September 30, 2013.

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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 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 2: 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 3: 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=6406099&loc=d3e25284-112666 Reference 4: 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=6418621&loc=d3e17540-113929 Reference 5: 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 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 + Details
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