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Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2015

In 2015, 2014 and 2013, we recorded share-based compensation and related benefits as follows:



	Year ended December 31,
(Dollars in thousands)	2015			2014			2013
Share-based compensation expense	$	32,239		$	29,545		$	25,413
Income tax benefit related to share-based compensation expense	(11,395		)	(9,923		)	(7,989		)
Capitalized compensation costs	2,226			2,048			2,809

As of December 31, 2015, unrecognized share-based compensation expense was as follows:



(Dollars in thousands)	Unrecognized Expense		Average Expected Recognition Period - in Years
Stock options	$	11,194	2.30
Restricted stock units	37,903		2.53
Total unrecognized share-based compensation expense	$	49,097

The following weighted average assumptions and fair values were used for our employee stock options and restricted stock units:



Equity Incentive Plan Awards	2015			2014			2013
Weighted average expected term of options - in years	4.7			4.6			4.7
Weighted average expected volatility of the Company's underlying common stock	31.3		%	35.9		%	44.6		%
Risk-free interest rate	1.49			1.72			0.70
Expected dividend yield	—			—			—
Weighted average grant date fair value - stock options	$	37.86		$	35.65		$	27.28
Weighted average grant date fair value - restricted stock units	129.23			107.76			71.57

The following weighted average assumptions and fair values were used for our ESPP:



ESPP	2015			2014			2013
Expected term in years	0.5			0.5			0.5
Weighted average expected volatility of the Company's underlying common stock	25.9		%	23.7		%	22.3		%
Risk-free interest rate	0.12			0.08			0.11
Expected dividend yield	—			—			—
Weighted average fair value	$	29.27		$	24.00		$	15.35

The table below provides stock option information related to the 2006 Equity Incentive Plan for the year ended December 31, 2015:



	Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life - in Years	Aggregate Intrinsic Value of In-The-Money Options
Outstanding at December 31, 2014	1,394,888		$	66.03
Granted	123,561		129.20
Exercised	(357,441	)	51.52
Forfeited	(22,260	)	84.17
Expired	(1,520	)	48.76
Outstanding at December 31, 2015	1,137,228		77.12		3.81	$	48,803,591
Vested and expected to vest at December 31, 2015	1,107,168		76.33		3.77	48,309,612
Exercisable at December 31, 2015	613,873		60.86		2.80	35,630,862

The following table summarizes information regarding stock options outstanding and exercisable as of December 31, 2015:



	Outstanding Options				Exercisable Options
Range of Exercise Prices	Shares	Weighted Average Remaining Contractual Life - in Years	Weighted Average Exercise Price		Shares	Weighted Average Exercise Price
$19.48-49.47	170,043	1.09	$	38.70	169,806	$	38.68
49.48-60.51	160,003	2.40	59.52		155,136	59.60
60.52-64.40	210,364	3.33	64.32		135,521	64.31
64.41-67.77	2,654	3.25	64.43		1,675	64.43
67.78-79.77	237,835	4.33	71.11		98,120	71.11
79.78-107.93	26,764	5.40	101.18		6,805	99.07
107.94-108.59	197,920	5.33	107.98		44,859	107.98
108.60-127.44	16,685	6.18	119.00		1,951	117.01
127.45-129.81	114,960	6.33	129.81		—	—
	1,137,228	3.81	77.12		613,873	60.86

The table below provides information for restricted stock units under the 2006 Equity Incentive Plan for the year ended December 31, 2015:



	Shares		Weighted Average Grant Date Fair Value
Nonvested at December 31, 2014	614,666		$	79.92
Granted	241,548		129.23
Vested	(264,884	)	73.35
Forfeited	(19,292	)	88.51
Nonvested at December 31, 2015	572,038		103.50

The following table summarizes information regarding stock option and restricted stock activity during 2015, 2014 and 2013:



	Year ended December 31,
(Dollars in thousands)	2015		2014		2013
Total intrinsic value of stock options exercised	$	27,430	$	21,288	$	25,520
Total grant date fair value of stock options vested	21,052		20,291		18,168
Total intrinsic value of restricted stock vested	34,009		25,453		14,176
Total grant date fair value of restricted stock vested	19,428		14,935		10,940