|3 Months Ended|
Mar. 31, 2016
|Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]|
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 2015 10-K. During the three months ended March 31, 2016, the Company granted stock awards subject to service conditions and service and performance conditions, consisting of stock appreciation rights, or SARs.
For the three months ended March 31, 2016 and 2015, share-based compensation expense amounted to $9.8 million and $11.1 million, respectively. As of March 31, 2016, the total unrecognized compensation cost related to all non-vested stock awards was $41.3 million and the related weighted-average period over which it is expected to be recognized is approximately 1.4 years.
The following tables summarize the activity under all share-based compensation plans for the three months ended March 31, 2016:
The weighted-average grant date fair value of SARs granted during the three months ended March 31, 2016 and 2015 was $21.69 and $12.18, respectively. The total intrinsic value of stock options and SARs exercised during the three months ended March 31, 2016 and 2015 was $5.9 million and $17.6 million, respectively.
The total vesting date fair value of stock units which vested during the three months ended March 31, 2016 and 2015 was less than $0.1 million for both periods.
The Company recognizes excess tax benefits associated with share-based compensation to shareholders’ equity (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 both March 31, 2016 and December 31, 2015, the Company had $25.4 million of unrealized excess tax benefits.
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.
Reference 1: http://www.xbrl.org/2003/role/presentationRef