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Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2017
Stock-Based Compensation [Abstract] |
Schedule of Stock-Based Compensation Expense | The consolidated statements of operations for the years ended December 31, 2017, 2016 and 2015 include the following stock-based compensation expense related to stock option awards, restricted stock awards, restricted stock unit awards, performance stock unit awards and the employee stock purchase plan (in thousands):
|  |  | 2017 |  | 2016 |  | 2015
Cost of sales |  | $ | 3,032 |  | $ | 2,738 |  | $ | 2,590
Selling and administrative expenses |  |  | 33,335 |  |  | 34,451 |  |  | 26,431
Research and development expenses |  |  | 3,069 |  |  | 3,809 |  |  | 4,347
| Total stock-based compensation |  | $ | 39,436 |  | $ | 40,998 |  | $ | 33,368
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 2017, 2016 and 2015 are as follows:
Options Issued and Significant Assumptions Used to Estimate Option Fair Values |  | 2017 |  | 2016 |  | 2015
Options issued in thousands |  | 389 |  | 324 |  | 673
Risk-free interest rate |  | 2.2% |  | 1.9% |  | 1.8%
Expected life in years |  | 6 |  | 6 |  | 6
Expected volatility |  | 0.227 |  | 0.247 |  | 0.257
Expected dividends |  | - |  | - |  | -
Weighted-Average Exercise Price and Fair Value of Options on the Date of Grant |  | 2017 |  | 2016 |  | 2015
Exercise price |  | $ | 170.24 |  | $ | 135.02 |  | $ | 127.63
Fair value |  | $ | 45.73 |  | $ | 37.44 |  | $ | 35.84
Stock Options Outstanding Roll Forward | T he following table summarizes stock option activity for the plans for the year ended December 31, 2017 (in thousands, except per share data):
|  |  |  | Number of Shares |  | Exercise Price per Share |  | Weighted-Average Exercise Price
Outstanding at December 31, 2016 |  | 2,697 |  | $ | 38.09 | to | $ | 139.51 |  | $ | 106.55
| Granted |  | 389 |  | $ | 136.43 | to | $ | 194.26 |  | $ | 170.24
| Exercised |  | (972) |  | $ | 41.20 | to | $ | 139.51 |  | $ | 93.49
| Canceled |  | (75) |  | $ | 87.06 | to | $ | 139.51 |  | $ | 120.59
Outstanding at December 31, 2017 |  | 2,039 |  | $ | 38.09 | to | $ | 194.26 |  | $ | 124.41
Stock Options Outstanding by Exercise Price Range | The following table details the options outstanding at December 31, 2017 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 |  | 157 |  | $ | 67.58 |  | 2.7 |  | 157 |  | $ | 67.58
$ | 80.00 | to | $ | 113.36 |  | 642 |  | $ | 103.01 |  | 6.2 |  | 391 |  | $ | 98.74
$ | 113.37 | to | $ | 194.26 |  | 1,240 |  | $ | 142.69 |  | 8.6 |  | 307 |  | $ | 128.26
|  | Total |  | 2,039 |  | $ | 124.41 |  | 7.4 |  | 855 |  | $ | 103.63
Restricted Stock Units Unvested Roll Forward | The following table summarizes the unvested restricted stock unit award activity for the year ended December 31, 2017 (in thousands, except for per share amounts):
|  |  | Shares |  | Weighted-Average Fair Value
Unvested at December 31, 2016 |  | 453 |  | $ | 110.34
| Granted |  | 107 |  | $ | 154.60
| Vested |  | (164) |  | $ | 105.02
| Forfeited |  | (22) |  | $ | 119.27
Unvested at December 31, 2017 |  | 374 |  | $ | 124.81
Relevant Data Used to Determine the Value of Performance Shares | The relevant data used to determine the value of the performance stock units granted during 2017 are as follows:
Performance Stock Units Issued and Significant Assumptions Used to Estimate Fair Values |  | 2017
Performance stock units issued in thousands |  | 40
Risk-free interest rate |  | 1.6%
Expected life in years |  | 3.0
Expected volatility |  | 0.209
Average volatility of peer companies |  | 0.256
Correlation Coefficient |  | 0.378
Expected dividends |  | -
Performance Stock Units Unvested Roll Forward | The following table summarizes the unvested performance stock unit award activity for the year ended December 31, 2017 (in thousands, except for per share amounts):
|  |  | Shares |  | Weighted-Average Fair Value
Unvested at December 31, 2016 |  | 27 |  | $ | 171.16
| Granted |  | 40 |  | $ | 210.25
| Forfeited |  | (3) |  | $ | 156.25
Unvested at December 31, 2017 |  | 64 |  | $ | 196.29

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