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Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2015

Stock-Based Compensation [Abstract]

Schedule of Stock-Based Compensation Expense

The consolidated statements of operations for the years ended December 31, 2015, 2014 and 2013 include the following stock-based compensation expense related to stock option awards, restricted stock, restricted stock unit awards and the employee stock purchase plan (in thousands):

			2015			2014			2013
Cost of sales			$	2,590		$	2,732		$	2,523
Selling and administrative expenses				26,431			26,128			25,252
Research and development expenses				4,347			4,138			3,933
	Total stock-based compensation		$	33,368		$	32,998		$	31,708

Relevant Data Used to Determine the Value of Stock Options Granted During the Period

The relevant data used to determine the value of the stock options granted during 2015, 2014 and 2013 are as follows:

Options Issued and Significant Assumptions Used to Estimate Option Fair Values		2015		2014		2013
Options issued in thousands		673		569		428
Risk-free interest rate		1.8%		1.6%		1.7%
Expected life in years		6		6		5
Expected volatility		0.257		0.266		0.248
Expected dividends		-		-		-

Weighted-Average Exercise Price and Fair Value of Options on the Date of Grant		2015			2014			2013
Exercise price		$	127.63		$	112.56		$	97.74
Fair value		$	35.84		$	32.61		$	27.37

Stock Options Outstanding Roll Forward

The following table summarizes stock option activity for the plans for the year ended December 31, 2015 (in thousands, except per share data):

				Number of Shares		Exercise Price per Share						Weighted-Average Exercise Price
Outstanding at December 31, 2014				3,280		$	37.84	to	$	113.36		$	82.85
	Granted			673		$	113.88	to	$	134.37		$	127.63
	Exercised			(727)		$	37.84	to	$	98.21		$	64.05
	Canceled			(72)		$	79.05	to	$	87.06		$	83.25
Outstanding at December 31, 2015				3,154		$	38.09	to	$	134.37		$	96.73

Stock Options Outstanding by Exercise Price Range

The following table details the options outstanding at December 31, 2015 by range of exercise prices (in thousands, except per share data):

											Remaining
						Number			Weighted-		Contractual		Number			Weighted-
						of Shares			Average		Life of Options		of Shares			Average
Exercise Price Range						Outstanding			Exercise Price		Outstanding		Exercisable			Exercise Price
$	38.09	to	$	79.99		1,059		$	72.78		4.7		932		$	71.97
$	80.00	to	$	113.36		1,423		$	99.93		8.0		553		$	95.44
$	113.37	to	$	134.37		672		$	127.70		10.0		-		$	-
		Total				3,154		$	96.73		7.3		1,485		$	80.71

Restricted Stock Units Unvested Roll Forward

The following table summarizes the unvested restricted stock unit award activity for the year ended December 31, 2015 (in thousands, except for per share amounts):

			Shares		Weighted-Average Price
Unvested at December 31, 2014			533		$	94.38
	Granted		150		$	119.46
	Vested		(172)		$	87.44
	Forfeited		(14)		$	101.17
Unvested at December 31, 2015			497		$	104.16

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Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed.

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