Share-Based Compensation

3 Months Ended

Mar. 31, 2020

Share-based Payment Arrangement [Abstract]

For the three months ended March 31, 2020 and 2019, we recorded share-based compensation and related tax benefits as follows:



	Three months ended March 31,
(Dollars in thousands)	2020			2019
Share-based compensation expense	$	19,171		$	15,122
Income tax benefit related to share-based compensation expense	(4,440		)	(3,327		)

Unrecognized Compensation Expense

As of March 31, 2020, unrecognized share-based compensation expense was as follows:



(Dollars in thousands)	Unrecognized Expense		Weighted Average Expected Recognition Period - in Years
Stock options	$	12,668	2.35
Restricted stock units and awards	95,440		2.66
Total unrecognized share-based compensation expense	$	108,108

Share-Based Payment Award Activity

The table below provides stock option information related to the 2006 Equity Incentive Plan for the three months ended March 31, 2020:



	Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life - in Years	Aggregate Intrinsic Value of In-The- Money Options
Outstanding at December 31, 2019	625,407		$	169.33
Granted	1,316		244.69
Exercised	(50,733	)	85.32
Forfeited	(2,399	)	224.87
Outstanding at March 31, 2020	573,591		176.70		3.63	$	11,973,716
Vested and expected to vest at March 31, 2020	560,684		174.94		3.58	11,967,072
Exercisable at March 31, 2020	310,688		131.01		2.34	10,376,626

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 $151.08 as of March 31, 2020. The total intrinsic value of options exercised during the three months ended March 31, 2020 was $8.3 million, compared to $7.5 million for the comparable 2019 period.

The table below provides information for restricted stock units and awards under the 2006 Equity Incentive Plan for the three months ended March 31, 2020:



	Shares		Weighted Average Grant Date Fair Value
Nonvested at December 31, 2019	847,972		$	236.54
Granted	46,027		217.97
Vested	(77,900	)	205.91
Forfeited	(19,591	)	220.12
Nonvested at March 31, 2020	796,508		238.86