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Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Schedule of Stock-Based Compensation Expense | The consolidated statements of operations for the years ended December 31, 2018, 2017 and 2016 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):
|  | 2018 |  |  | 2017 |  |  | 2016 |
Cost of sales |  | $ | 2,212 |  |  | $ | 3,032 |  |  | $ | 2,738 |
Selling and administrative expenses |  |  | 30,443 |  |  |  | 33,335 |  |  |  | 34,451 |
Research and development expenses |  |  | 4,886 |  |  |  | 3,069 |  |  |  | 3,809 |
Total stock-based compensation |  | $ | 37,541 |  |  | $ | 39,436 |  |  | $ | 40,998 |
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 the year ended December 31, 2018, 2017 and 2016 are as follows:
Options Issued and Significant Assumptions Used to Estimate Option Fair Values |  | 2018 |  |  | 2017 |  |  | 2016 |
Options issued in thousands |  |  | 321 |  |  |  | 389 |  |  |  | 324 |
Risk-free interest rate |  |  | 2.7 | % |  |  | 2.2 | % |  |  | 1.9 | %
Expected life in years |  |  | 6 |  |  |  | 6 |  |  |  | 6 |
Expected volatility |  |  | 25.3 | % |  |  | 22.7 | % |  |  | 24.7 | %
Expected dividends |  |  | — |  |  |  | — |  |  |  | — |
Weighted-Average Exercise Price and Fair Value of Options on the Date of Grant |  | 2018 |  |  | 2017 |  |  | 2016 |
Exercise price |  | $ | 196.78 |  |  | $ | 170.24 |  |  | $ | 135.02 |
Fair value |  | $ | 59.89 |  |  | $ | 45.73 |  |  | $ | 37.44 |
Stock Options Outstanding Roll Forward | The following table summarizes stock option activity for the plans for the year ended December 31, 2018 (in thousands, except per share data):
|  | Number of Shares |  |  | Exercise Price per Share |  |  | Weighted- Average Exercise Price per Share |
Outstanding at December 31, 2017 |  |  | 2,039 |  |  | $ | 38.09 |  |  |  | to |  |  | $ | 194.26 |  |  | $ | 124.41 |
Granted |  |  | 321 |  |  | $ | 188.26 |  |  |  | to |  |  | $ | 208.47 |  |  | $ | 196.78 |
Exercised |  |  | (433 | ) |  | $ | 38.09 |  |  |  | to |  |  | $ | 154.33 |  |  | $ | 102.92 |
Canceled |  |  | (137 | ) |  | $ | 98.21 |  |  |  | to |  |  | $ | 154.33 |  |  | $ | 125.93 |
Outstanding at December 31, 2018 |  |  | 1,790 |  |  | $ | 38.09 |  |  |  | to |  |  | $ | 208.47 |  |  | $ | 142.47 |
Stock Options Outstanding by Exercise Price Range | The following table details the options outstanding at December 31, 2018 by range of exercise prices (in thousands, except per share data):
Exercise Price Range |  | Number of Shares Outstanding |  |  | Weighted- Average Exercise Price |  |  | Remaining Contractual Life of Options Outstanding |  |  | Number of Shares Exercisable |  |  | Weighted- Average Exercise Price |
$38.09 to $123.55 |  |  | 575 |  |  | $ | 103.24 |  |  |  | 5.1 |  |  |  | 450 |  |  | $ | 99.53 |
$123.56 to $141.74 |  |  | 597 |  |  | $ | 133.21 |  |  |  | 7.4 |  |  |  | 290 |  |  | $ | 132.29 |
$141.75 to $208.47 |  |  | 618 |  |  | $ | 187.92 |  |  |  | 9.0 |  |  |  | 54 |  |  | $ | 182.46 |
Total |  |  | 1,790 |  |  | $ | 142.47 |  |  |  | 7.2 |  |  |  | 794 |  |  | $ | 117.08 |
Restricted Stock Units Unvested Roll Forward | The following table summarizes the unvested restricted stock unit award activity for the year ended December 31, 2018 (in thousands, except per share data):
|  | Shares |  |  | Weighted-Average Fair Value per Share |
Unvested at December 31, 2017 |  |  | 374 |  |  | $ | 124.81 |
Granted |  |  | 91 |  |  | $ | 207.85 |
Vested |  |  | (139 | ) |  | $ | 115.75 |
Forfeited |  |  | (22 | ) |  | $ | 131.72 |
Unvested at December 31, 2018 |  |  | 304 |  |  | $ | 153.31 |
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 the year ended December 31, 2018, 2017 and 2016 are as follows:
Performance Stock Units Issued and Significant Assumptions Used to Estimate Fair Values |  | 2018 |  |  | 2017 |  |  | 2016 |
Performance stock units issued in thousands |  |  | 40 |  |  |  | 40 |  |  |  | 27 |
Risk-free interest rate |  |  | 2.4 | % |  |  | 1.6 | % |  |  | 1.4 | %
Expected life in years |  |  | 3.0 |  |  |  | 3.0 |  |  |  | 3.0 |
Expected volatility |  |  | 22.0 | % |  |  | 20.9 | % |  |  | 23.3 | %
Average volatility of peer companies |  |  | 25.9 | % |  |  | 25.6 | % |  |  | 26.1 | %
Correlation Coefficient |  |  | 35.9 | % |  |  | 37.8 | % |  |  | 38.6 | %
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, 2018 (in thousands, except per share data):
|  | Shares |  |  | Weighted-Average Fair Value per Share |
Unvested at December 31, 2017 |  |  | 64 |  |  | $ | 196.29 |
Granted |  |  | 40 |  |  | $ | 235.63 |
Forfeited |  |  | (4 | ) |  | $ | 188.45 |
Unvested at December 31, 2018 |  |  | 100 |  |  | $ | 212.34 |

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