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Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2016

In 2016, 2015 and 2014, we recorded share-based compensation and related benefits as follows:



	Year ended December 31,
(Dollars in thousands)	2016			2015			2014
Share-based compensation expense	$	35,494		$	32,239		$	29,545
Income tax benefit related to share-based compensation expense	(12,505		)	(11,395		)	(9,923		)
Capitalized compensation costs	5,580			2,226			2,048

As of December 31, 2016, unrecognized share-based compensation expense was as follows:



(Dollars in thousands)	Unrecognized Expense		Average Expected Recognition Period - in Years
Stock options	$	9,423	2.38
Restricted stock units	44,425		2.53
Total unrecognized share-based compensation expense	$	53,848

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



Equity Incentive Plan Awards	2016			2015			2014
Weighted average expected term of options - in years	4.8			4.7			4.6
Weighted average expected volatility of the Company's underlying common stock	31.7		%	31.3		%	35.9		%
Risk-free interest rate	1.32			1.49			1.72
Expected dividend yield	—			—			—
Weighted average grant date fair value - stock options	$	31.17		$	37.86		$	35.65
Weighted average grant date fair value - restricted stock units	100.35			129.23			107.76

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



ESPP	2016			2015			2014
Expected term in years	0.5			0.5			0.5
Weighted average expected volatility of the Company's underlying common stock	41.8		%	25.9		%	23.7		%
Risk-free interest rate	0.45			0.12			0.08
Expected dividend yield	—			—			—
Weighted average grand date fair value	$	29.16		$	29.27		$	24.00

The table below provides stock option information related to the 2006 Equity Incentive Plan for the year ended December 31, 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	(271,528	)	54.78
Forfeited	(32,156	)	102.51
Expired	(190	)	19.48
Outstanding at December 31, 2016	1,010,557		87.24		3.76	$	85,315,707
Vested and expected to vest at December 31, 2016	985,983		86.69		3.71	83,778,687
Exercisable at December 31, 2016	580,165		73.67		2.69	56,848,539

The following table summarizes information regarding stock options outstanding and exercisable as of December 31, 2016:



	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
$34.41 - 60.14	66,122	0.88	$	49.67	66,122	$	49.67
60.15 - 63.62	103,005	1.36	60.46		103,005	60.46
63.63 - 64.40	157,424	2.33	64.37		157,424	64.37
64.41 - 79.77	194,684	3.32	71.04		130,632	71.01
79.78 - 105.14	18,955	4.65	99.05		8,531	97.82
105.15 - 105.84	170,822	6.33	105.18		442	105.18
105.85 - 108.59	179,133	4.32	107.95		82,486	107.95
108.60 - 127.44	12,421	5.21	119.03		4,922	118.20
127.45 - 129.81	107,991	5.33	129.81		26,601	129.81
Total	1,010,557	3.76	87.24		580,165	73.67

The table below provides information for restricted stock units under the 2006 Equity Incentive Plan for the year ended December 31, 2016:



	Shares		Weighted Average Grant Date Fair Value
Nonvested at December 31, 2015	572,038		$	103.50
Granted	361,646		100.35
Vested	(220,476	)	88.24
Forfeited	(42,239	)	106.38
Nonvested at December 31, 2016	670,969		106.64

The following table summarizes information regarding stock option and restricted stock unit activity during 2016, 2015 and 2014:



	Year ended December 31,
(Dollars in thousands)	2016		2015		2014
Total intrinsic value of stock options exercised	$	18,186	$	27,430	$	21,288
Total grant date fair value of stock options vested	7,364		21,052		20,291
Total intrinsic value of restricted stock vested	22,966		34,009		25,453
Total grant date fair value of restricted stock vested	19,454		19,428		14,935