Quarterly report pursuant to Section 13 or 15(d)

STOCK-BASED COMPENSATION

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STOCK-BASED COMPENSATION
 9 Months Ended
Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
STOCK-BASED COMPENSATION
STOCK-BASED COMPENSATION
The following is a summary of stock-based compensation expense recorded by the Company:
 
Three Months Ended 
 September 30,
 
Nine Months Ended 
 September 30,
 
2015
 
2014
 
2015
 
2014
 
(in thousands)
Selling, general and administrative expenses
$
3,884

 
$
4,818

 
$
12,654

 
$
17,993

Corporate expenses
4,148

 
4,145

 
12,940

 
13,538

Total
$
8,032

 
$
8,963

 
$
25,594

 
$
31,531


In the second quarter of 2014, the Company granted an award of equity in a subsidiary to an employee that vested at issuance.
As of September 30, 2015, there was $53.2 million of total unrecognized compensation cost related to stock-based compensation arrangements for stock options, restricted stock awards and other equity awards. This cost is expected to be recognized over a weighted-average period of 2.3 years.