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Share-Based Compensation
 3 Months Ended
Mar. 31, 2014
Share-based Compensation [Abstract]  
Share-Based Compensation
Share-Based Compensation

Set forth below is a summary of share-based compensation expense for option grants, restricted stock awards and restricted stock unit awards included as a component of Selling, general and administrative expenses in the Unaudited Condensed Consolidated Statements of Operations:
 
Three Months Ended March 31
 
 
2014
 
2013
 
Stock options and restricted stock awards
$
2.3

 
$
1.4

 
Restricted stock unit awards
0.2

 
0.1

 
Share-based compensation expense - employees
$
2.5

 
$
1.5

 
 

 

 
Share-based compensation expense - non-employee directors
$
0.1

 
$
0.1

 


No tax benefit for share-based compensation was realized during 2014 or 2013 as a result of a valuation allowance against the deferred tax assets.

At March 31, 2014, there was $12.3 million of unrecognized compensation expense related to unvested share-based awards. That cost is expected to be recognized as follows: $5.4 million in the last nine months of 2014, $5.3 million in 2015, and $1.6 million in 2016 as a component of Selling, general and administrative expenses. Unearned compensation expense is recognized over the vesting period for the particular grant. Total unrecognized compensation cost will be adjusted for future changes in actual and estimated forfeitures, updated vesting assumptions for performance awards, and fluctuations in the fair value of restricted stock unit awards.

Non-employee directors of the Company are paid a portion of their annual retainer in unrestricted shares of common stock. For purposes of determining the number of shares of common stock to be issued, the 2007 Plan provides that shares are to be valued at the average of the high and low sale price of the Company’s common stock on the NYSE on the last trading date of the quarter. Pursuant to this plan, we issued 3,976 shares in the three months ended March 31, 2014 and 5,971 shares in the three months ended March 31, 2013, respectively, to non-employee directors.