7. Share-Based Compensation

The Company has share-based compensation plans, which are more fully described in Note 9, Share-Based Compensation, to the Consolidated Financial Statements in the 2014 10-K. During the three months ended March 31, 2015, the Company granted stock awards subject to service conditions, and service and performance conditions, consisting of stock appreciation rights, or SARs, each with vesting terms fully described in the 2014 10-K.

In March 2015, the Company also granted SARs with service and market conditions to certain employees. These SARs vest on the third anniversary of grant subject to the employees’ continued employment through that date and the achievement of certain conditions related to the market value of the Company’s common shares. The fair value of these SARs was determined on the date of the grant using the Monte Carlo lattice model.

For the three months ended March 31, 2015 and 2014, share-based compensation expense amounted to $11.1 million and $11.0 million, respectively. As of March 31, 2015, the total unrecognized compensation cost related to all non-vested stock awards was $80.2 million and the related weighted-average period over which it is expected to be recognized is approximately 1.7 years.

The following tables summarize the activity under all share-based compensation plans for the three months ended March 31, 2015:

The weighted-average grant date fair value of SARs granted during the three months ended March 31, 2015 and 2014 was $12.18 and $28.68, respectively. The total intrinsic value of stock options and SARs exercised during the three months ended March 31, 2015 and 2014 was $17.6 million and $14.8 million, respectively.

The total vesting date fair value of stock units which vested during the three months ended March 31, 2015 was less than $0.1 million. The total vesting date fair value of stock units which vested during the three months ended March 31, 2014 was $8.2 million.

The Company recognizes excess tax benefits associated with share-based compensation to shareholders’ deficit only when realized. When assessing whether excess tax benefits relating to share-based compensation have been realized, the Company follows the with-and-without approach. Under this approach, excess tax benefits related to share-based compensation are not deemed to be realized until after the utilization of all other tax benefits available to the Company, which are also subject to applicable limitations. As of March 31, 2015 and December 31, 2014, the Company had $24.2 million and $23.6 million, respectively, of unrealized excess tax benefits.