EMPLOYEE COMPENSATION PLANS

9 Months Ended

Sep. 30, 2018

EMPLOYEE COMPENSATION PLANS [Abstract]

EMPLOYEE COMPENSATION PLANS

(14)EQUITY-BASED COMPENSATION PLANS

All equity-based awards to employees are recognized in the Consolidated Statements of Comprehensive Income (Loss) at the fair value of the award on the grant date. During the three and nine months ended September 30, 2018 and 2017, the Company recognized total equity-based compensation expense of $3.1 million and $9.3 million and $3.5 million and $8.4 million, respectively. Of this total compensation expense, $1.1 million and $3.5 million were recognized in Cost of services and $2.0 million and $5.8 million were recognized in Selling, general and administrative during the three and nine months ended September 30, 2018, respectively. During the three and nine months ended September 30, 2017, the Company recognized compensation expense of $1.4 million and $2.9 million in Cost of services and $2.1 million and $5.5 million in Selling, general and administrative, respectively.

Restricted Stock Unit Grants

During the nine months ended September 30, 2018 and 2017, the Company granted 480,582 and 724,951 RSUs, respectively, to new and existing employees, which vest in equal installments over four or five years. The Company recognized compensation expense related to RSUs of $3.1 million and $9.3 million for the three and nine months ended September 30, 2018, respectively. The Company recognized compensation expense related to RSUs of $3.5 million and $8.7 million for the three and nine months ended September 30, 2017, respectively. As of September 30, 2018, there was approximately $26.2 million of total unrecognized compensation cost (including the impact of expected forfeitures) related to RSUs granted under the Company’s equity plans.

Stock Options

The Company recognized no compensation expense related to subsidiary performance options for the three and nine months ended September 30, 2018, respectively. The Company recognized compensation expense related to subsidiary performance options of zero and $(0.3) million for the three and nine months ended September 30, 2017, respectively. The option benefit for 2017 resulted from the Company concluding that the performance targets of the subsidiary will not be achieved.