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Share-Based Compensation
3 Months Ended
Mar. 31, 2014
Share-Based Compensation

6. Share-Based Compensation

The Company recognized $15 million and $14 million of share-based compensation expense during the three months ended March 31, 2014 and 2013, respectively. The Company’s annual grant of share-based awards generally occurs in the first quarter. During the three months ended March 31, 2014, the Company granted 1.3 million stock options and 0.4 million restricted stock units at weighted-average estimated fair values of $18.77 and $56.98, respectively. During the three months ended March 31, 2013, the Company granted 1.8 million stock options and 0.8 million restricted stock units at weighted-average estimated fair values of $12.58 and $40.37, respectively. During each of the three-month periods ended March 31, 2014 and 2013, stock options to purchase 0.5 million shares were exercised.