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Share-based Compensation (Tables)
6 Months Ended
Jun. 30, 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 June 30, 2015:

 

     Stock Options Outstanding  
     Shares      Weighted Average
Exercise Price
Per Share
     Aggregate
Intrinsic
Value
     Weighted Average
Remaining Contractual
Term (Years)
 

Balance as of April 1, 2015

     1,335       $ 119.39         

Granted

     40         177.39         

Exercised

     (39      102.52       $ 3,049      

Forfeited/Expired

     (30      165.01         
  

 

 

          

Balance as of June 30, 2015

     1,306       $ 120.62         
  

 

 

          

Exercisable as of June 30, 2015

     226       $ 108.75       $ 13,875         8.5   

Expected to vest as of June 30, 2015

     1,030       $ 124.57       $ 47,169         8.7   
  

 

 

          

Total

     1,256       $ 121.72       $ 61,044         8.6   
  

 

 

          
Range Of Exercise Prices

Stock options outstanding as of June 30, 2015 are comprised of the following range of exercise prices per share (in thousands, except per share data and years):

 

     Stock Options Outstanding at June 30, 2015  

Range of Exercise Prices per Share

   Shares      Weighted Average
Exercise Price
Per Share
     Weighted Average
Remaining Contractual
Term (Years)
 

$  92.84 - $120.00

     507       $ 94.49         7.1   

$120.01 - $150.00

     514       $ 121.43         8.8   

$150.01 - $178.80

     285       $ 165.66         9.6   
  

 

 

       

Total

     1,306       $ 120.62         8.3   
  

 

 

       
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 $73.23 and $54.01 for each share subject to a stock option granted during the three months ended June 30, 2015 and 2014, respectively, based on the following assumptions:

 

     Three months ended
June 30,
 
     2015     2014  

Expected term of options in years

     6.3        6.3   

Expected volatility

     39.2 - 39.3     42.4 - 42.5

Risk-free interest rate

     1.9     2.2 - 2.3

Expected dividend yield

     0.0     0.0