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Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2018

In 2018, 2017 and 2016, we recorded share-based compensation and related benefits as follows:



	Year ended December 31,
(Dollars in thousands)	2018			2017			2016
Share-based compensation expense	$	45,675		$	36,900		$	35,494
Income tax benefit related to share-based compensation expense	(10,997		)	(12,845		)	(12,505		)
Capitalized compensation costs	1,466			1,071			5,580

As of December 31, 2018, unrecognized share-based compensation expense was as follows:



(Dollars in thousands)	Unrecognized Expense		Weighted Average Expected Recognition Period - in Years
Stock options	$	11,994	2.74
Restricted stock units	70,021		2.68
Total unrecognized share-based compensation expense	$	82,015

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



Equity Incentive Plan Awards	2018			2017			2016
Weighted average expected term of options - in years	4.8			4.9			4.8
Weighted average expected volatility of the Company's underlying common stock	34.7		%	33.7		%	31.7		%
Risk-free interest rate	2.82			1.81			1.32
Expected dividend yield	—			—			—
Weighted average grant date fair value - stock options	$	105.81		$	57.81		$	31.17
Weighted average grant date fair value - restricted stock units	294.50			181.23			100.35

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



ESPP	2018			2017			2016
Expected term in years	0.5			0.5			0.5
Weighted average expected volatility of the Company's underlying common stock	32.2		%	31.2		%	41.8		%
Risk-free interest rate	1.79			0.80			0.45
Expected dividend yield	—			—			—
Weighted average grant date fair value	$	62.76		$	41.70		$	29.16

The table below provides stock option information related to the 2006 Equity Incentive Plan for the year ended December 31, 2018:



	Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life - in Years	Aggregate Intrinsic Value of In-The-Money Options
Outstanding at December 31, 2017	808,049		$	105.68
Granted	90,375		305.19
Exercised	(199,659	)	83.74
Forfeited	(16,769	)	171.07
Expired	(2,337	)	60.37
Outstanding at December 31, 2018	679,659		137.19		3.51	$	46,038,508
Vested and expected to vest at December 31, 2018	662,702		135.01		3.46	45,667,197
Exercisable at December 31, 2018	410,897		100.03		2.42	36,986,923

The following table summarizes information regarding stock options outstanding and exercisable as of December 31, 2018:



	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
$54.75 - 67.77	51,651	0.33	$	63.62	51,651	$	63.62
67.78 - 79.77	98,097	1.33	71.11		98,097	71.11
79.78 - 105.84	140,703	4.27	104.92		62,996	104.70
105.85 - 108.59	116,254	2.33	107.95		116,254	107.95
108.60 - 149.65	85,263	3.27	128.62		59,319	128.27
149.66 - 173.94	2,939	5.43	169.49		735	169.49
173.95 - 180.62	93,487	5.34	178.39		20,531	178.39
180.63 - 283.09	4,588	5.99	219.46		1,314	227.04
283.10 - 324.77	86,677	6.34	305.96		—	—
Total	679,659	3.51	137.19		410,897	100.03

The table below provides information for restricted stock units under the 2006 Equity Incentive Plan for the year ended December 31, 2018:



	Shares		Weighted Average Grant Date Fair Value
Nonvested at December 31, 2017	637,667		$	135.86
Granted	223,918		294.50
Vested	(219,305	)	130.72
Forfeited	(44,984	)	172.32
Nonvested at December 31, 2018	597,296		194.48

The following table summarizes information regarding stock option and restricted stock unit activity during 2018, 2017 and 2016:



	Year ended December 31,
(Dollars in thousands)	2018		2017		2016
Total intrinsic value of stock options exercised	$	40,681	$	36,173	$	18,186
Total grant date fair value of stock options vested	5,823		6,094		7,364
Total intrinsic value of restricted stock vested	63,917		40,925		22,966
Total grant date fair value of restricted stock vested	28,813		23,383		19,454