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STOCK-BASED EMPLOYEE COMPENSATION PLANS
9 Months Ended
Sep. 30, 2014
STOCK-BASED EMPLOYEE COMPENSATION PLANS

5. STOCK-BASED EMPLOYEE COMPENSATION PLANS

The Company recognizes stock-based compensation expense in the consolidated financial statements for awards of equity instruments to employees and non-employee directors based on the grant-date fair value of those awards on a straight-line basis over the requisite service period of the award, which is generally the vesting term. The benefits of tax deductions in excess of recognized compensation expense are reported as a financing cash flow.