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Equity Based Compensation
9 Months Ended
Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Equity Based Compensation
Equity Based Compensation
Equity compensation expense was $8.3 million and $5.7 million in the third quarter of 2016 and 2015, respectively. In the first quarter of 2016, the Company granted 0.3 million stock appreciation rights at $93.53 weighted average exercise price per share and 0.2 million performance contingent units to employees. Additionally, non-employee directors were granted a total of 8,908 shares of common stock. As of September 30, 2016, 1.6 million share options at a weighted average strike price per share of $56.55 were vested and exercisable, with a remaining weighted average exercise period of 4.7 years. As of September 30, 2016, the total compensation cost of non-vested awards not yet recognized in the condensed consolidated financial statements was $33.4 million. It is estimated that these costs will vest over a weighted average period of 1.9 years.