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Share-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2013
Summary of Restricted Stock Activity
A summary of the Company’s restricted stock activity follows:
 
2013
 
2012
 
2011
 
Shares
 
Weighted Average Grant- Date Fair Value
 
Shares
 
Weighted Average Grant- Date Fair Value
 
Shares
 
Weighted Average Grant- Date Fair Value
Restricted stock at January 1
1,771,664

 
$
23.44

 
1,817,745

 
$
22.37

 
1,478,000

 
$
20.70

Granted
331,053

 
51.99

 
394,928

 
27.46

 
575,694

 
27.80

Vested (a)
(605,458
)
 
19.54

 
(429,034
)
 
22.66

 
(229,979
)
 
25.29

Forfeitures
(33,565
)
 
24.76

 
(11,975
)
 
21.46

 
(5,970
)
 
22.45

Restricted stock at December 31
1,463,694

 
$
31.48

 
1,771,664

 
$
23.44

 
1,817,745

 
$
22.37

___________
(a)
The total fair value of awards upon vesting for the years ended December 31, 2013, 2012, and 2011, was $29.5 million, $12.4 million, and $6.1 million, respectively.
Compensation Expense For Restricted Stock and Performance Units
Compensation expense for share-based awards recognized in the Consolidated Statements of Income, net of forfeitures was as follows (dollars in thousands):
 
Year Ended December 31
 
2013
 
2012
 
2011
Restricted stock
$
14,238

 
$
11,687

 
$
9,736

Performance units
523

 
—

 
—

Impact on income before income taxes
14,761

 
11,687

 
9,736

Income tax benefit
(5,728
)
 
(4,543
)
 
(3,784
)
Impact on net income
$
9,033

 
$
7,144

 
$
5,952
Unrecognized Compensation For Restricted Stock and Performance Units
The unrecognized compensation expense for all share-based awards follows (dollars in thousands):
 
As of December 31, 2013
 
Unrecognized Compensation Expense
 
Remaining Weighted Average Recognition Period (in years)
Restricted stock
$
24,500

 
2.7
Performance units
2,941

 
3.5
Total unrecognized share-based compensation expense
$
27,441

 
2.8