SHARE-BASED COMPENSATION

6 Months Ended

Jun. 30, 2017

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION

7.          SHARE-BASED COMPENSATION

During the three and six months ended June 30, 2017, the Company granted approximately 40,200 and 296,000 in total of time-based restricted stock units and performance-based shares to certain of its employees at a weighted-average grant date fair value of $32.09 and $36.27, respectively.

Total share-based compensation cost recognized in the Condensed Consolidated Statements of Income and Comprehensive Income as a component of selling, general and administrative expenses was $2.3 million and $3.4 million for the three months ended June 30, 2017 and 2016, and $4.9 million and $6.2 million for the six months ended June 30, 2017 and 2016, respectively.  Total unrecognized compensation cost related to unvested share-based compensation arrangements was $15.0 million at June 30, 2017, and is expected to be recognized over a weighted-average period of 1.6 years.  Total unrecognized compensation cost may be adjusted for any unearned performance shares or forfeited shares.