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Share-Based Compensation
 9 Months Ended
Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Share-Based Compensation
Share-Based Compensation
For the three and nine months ended September 30, 2016 and 2015, we recorded share-based compensation and related tax benefits as follows: 
 
 
Three months ended September 30,
 
Nine months ended September 30,
(Dollars in thousands)
 
2016
 
2015
 
2016
 
2015
Share-based compensation expense
 
$
7,916

 
$
8,188

 
$
22,342

 
$
24,174

Income tax benefit related to share-based compensation expense
 
(2,881
)
 
(3,051
)
 
(7,461
)
 
(8,381
)

Unrecognized Compensation Expense
As of September 30, 2016, unrecognized share-based compensation expense was as follows:
(Dollars in thousands)
 
  Unrecognized  
Expense
 
Average
Expected
Recognition
  Period - in Years  
Stock options
 
$
11,150

 
2.52
Restricted stock units
 
51,094

 
2.68
Total unrecognized share-based compensation expense
 
$
62,244

 
 

Share-Based Payment Award Activity
The table below provides stock option information related to the 2006 Equity Incentive Plan for the nine months ended September 30, 2016:
 
 
Options
 
Weighted
Average
 Exercise Price 
 
Weighted Average Remaining Contractual Life - in Years  
 
Aggregate
  Intrinsic Value  
of In-The-
Money
Options
Outstanding at December 31, 2015
 
1,137,228

 
$
77.12

 
 
 
 
Granted
 
177,203

 
105.11

 
 
 
 
Exercised
 
(141,248
)
 
43.90

 
 
 
 
Forfeited
 
(19,305
)
 
100.80

 
 
 
 
Expired
 
(190
)
 
19.48

 
 
 
 
Outstanding at September 30, 2016
 
1,153,688

 
85.10

 
3.83
 
$
31,649,669

Vested and expected to vest at September 30, 2016
 
1,123,538

 
84.47

 
3.77
 
31,469,498

Exercisable at September 30, 2016
 
706,677

 
72.25

 
2.81
 
27,648,800


The aggregate intrinsic value of outstanding options shown in the table above represents the pre-tax intrinsic value based on our closing stock price of $110.54 as of September 30, 2016. The total intrinsic value of options exercised during the three and nine months ended September 30, 2016 was $1.5 million and $8.2 million, respectively, compared to $2.2 million and $24.0 million for the comparable 2015 periods.
The table below provides information for restricted stock units under the 2006 Equity Incentive Plan for the nine months ended September 30, 2016:
 
 
Shares    
 
Weighted Average Grant Date Fair Value
Nonvested at December 31, 2015
 
572,038

 
$
103.50

Granted
 
359,028

 
100.17

Vested
 
(215,587
)
 
87.67

Forfeited
 
(24,508
)
 
106.50

Nonvested at September 30, 2016
 
690,971

 
106.61