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Share-based Compensation (Tables)
3 Months Ended
Mar. 31, 2015
Summary of Stock Option Activity

The following table summarizes the Company’s stock option activity (in thousands, except per share data and years) for the three months ended March 31, 2015:

 

     Stock Options Outstanding  
     Shares      Weighted Average
Exercise Price

Per Share
     Aggregate
Intrinsic
Value
     Weighted Average
Remaining Contractual
Term (Years)
 

Balance as of January 1, 2015

     1,201       $ 111.77         

Granted

     200         165.01         

Exercised

     (16      92.84       $ 1,170      

Forfeited/Expired

     (50      127.39         
  

 

 

          

Balance as of March 31, 2015

  1,335    $ 119.39   
  

 

 

          

Exercisable as of March 31, 2015

  125    $ 92.84    $ 9,544      7.0   

Expected to vest as of March 31, 2015

  1,130    $ 122.29    $ 53,001      8.9   
  

 

 

          

Total

  1,255    $ 119.35    $ 62,545      8.7   
  

 

 

          
Range Of Exercise Prices

Stock options outstanding as of March 31, 2015 are comprised of the following range of exercise prices per share (in thousands, except per share data and years):

 

     Stock Options Outstanding at March 31, 2015  

Range of Exercise Prices per Share

   Shares      Weighted Average
Exercise Price

Per Share
     Weighted Average
Remaining Contractual
Term (Years)
 

$92.84 - $120.00

     540       $ 94.76         7.0   

$120.01 - $150.00

     520       $ 121.43         9.1   

$150.01 - $165.01

     275       $ 163.88         8.7   
  

 

 

       

Total

  1,335    $ 119.39      8.2   
  

 

 

       
Assumptions Used in Black-Scholes Option-Pricing Model

The weighted average grant date fair value of stock option awards using the Black-Scholes pricing model was $68.19 for each share subject to a stock option granted during the three months ended March 31, 2015, based on the following assumptions:

 

     Three months ended  
     March 31,  
     2015  

Expected term of options in years

     6.3   

Expected volatility

     40.2

Risk-free interest rate

     1.5

Expected dividend yield

     0.0