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Share-Based Compensation
3 Months Ended
Mar. 31, 2019
Share-based Compensation [Abstract]  
Share-Based Compensation
Share-Based Compensation
The Company has historically granted the majority of its share-based awards during the second quarter of each fiscal year. In the three-month periods ended March 31, 2019 and 2018, the Company did not grant any share-based awards.
The grant of employee stock purchase rights and the issuance of shares under the employee stock purchase plan are made in the third quarter of each fiscal year. No shares were issued in the three-month periods ended March 31, 2019 and 2018.
The Company recognizes stock compensation expense based on the fair value of awards granted to employees and directors under the Company’s omnibus incentive, stock option, director restricted stock and employee stock purchase rights plans. This expense, adjusted for expected forfeitures, is recognized in net earnings on a straight-line basis over the service periods as salaries and related costs. Restricted stock unit awards to certain employees meeting specific retirement eligibility criteria at the time of grant are expensed immediately as there is no substantive service period associated with those awards.