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STOCK-BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2014
STOCK-BASED COMPENSATION  
Schedule of weighted-average assumptions used to estimate the fair value of options granted

 

 

 

 

2014

 

2013

 

2012

Dividend yield

 

0.0 %

 

0.0 %

 

0.0 %

Expected volatility

 

41.4 %

 

47.5 %

 

48.1 %

Risk-free interest rate

 

1.55 %

 

0.98 %

 

0.74 %

Expected term

 

5.8 Years

 

5.7 Years

 

5.4 Years

 

Summary of Company's activities with respect to its stock option plans

 

 

Options

 

Number of
Shares (In
thousands)

 

Weighted-
Average
Exercise
Price Per
Share

 

Weighted-
Average
Remaining
Contractual
Term (In
years)

 

Aggregate
Intrinsic Value

 

Outstanding at January 1, 2014

 

12,973 

 

 $

15.70 

 

3.7 

 

 $

675,595 

 

Granted 01/01/14 - 03/31/14

 

689 

 

 $

70.06 

 

 

 

 

 

Granted 04/01/14 - 06/30/14

 

104 

 

 $

69.15 

 

 

 

 

 

Granted 07/01/14 - 09/30/14

 

-

 

 $

-

 

 

 

 

 

Granted 10/01/14 - 12/31/14

 

195 

 

 $

111.30 

 

 

 

 

 

Exercised

 

(767)

 

 $

22.38 

 

 

 

 

 

Cancelled or forfeited

 

(128)

 

 $

45.49 

 

 

 

 

 

Outstanding at December 31, 2014

 

13,066 

 

 $

19.73 

 

3.1 

 

 $

1,158,412 

 

Vested and expected to vest in the future at December 31, 2014

 

12,670 

 

 $

18.31 

 

2.9 

 

 $

1,141,163 

 

Exercisable at December 31, 2014

 

10,566 

 

 $

10.24 

 

1.8 

 

 $

1,036,675 

 

 

Summary of information about stock options outstanding and exercisable

 

The following table summarizes information about stock options outstanding and exercisable at December 31, 2014:

 

 

 

 

 

Options Outstanding

 

Options Exercisable

 

Range of Exercise
Prices ($)

 

Number
Outstanding (In
Thousands)

 

Weighted
Average
Remaining 
Contractual
Term (Years)

 

Weighted
Average
Exercise
Price ($)

 

Number 
Exercisable
(In
Thousands)

 

Weighted
Average
Exercise
Price ($)

 

$3.29

-

$3.29

 

4,400 

 

0.2 

 

$
3.29 

 

4,400 

 

$
3.29 

 

$5.72

-

$6.21

 

13 

 

0.5 

 

$
6.18 

 

13 

 

$
6.18 

 

$8.44

-

$8.44

 

2,445 

 

0.9 

 

$
8.44 

 

2,445 

 

$
8.44 

 

$13.37

-

$15.60

 

111 

 

3.7 

 

$
13.56 

 

111 

 

$
13.56 

 

$15.86

-

$15.86

 

1,700 

 

3.4 

 

$
15.86 

 

1,700 

 

$
15.86 

 

$15.94

-

$19.20

 

1,307 

 

4.8 

 

$
17.83 

 

1,307 

 

$
17.83 

 

$19.23

-

$53.96

 

1,700 

 

7.1 

 

$
41.19 

 

558 

 

$
34.33 

 

$55.92

-

$71.05

 

1,190 

 

8.7 

 

$
66.22 

 

33 

 

$
63.85 

 

$74.78

-

$74.78

 

 

7.5 

 

$
74.78 

 

-

 

$
0.00 

 

$111.30

-

$111.30

 

196 

 

9.9 

 

$
111.30 

 

-

 

$
0.00 

 

 

 

 

 

13,066 

 

3.1 

 

$
19.73 

 

10,567 

 

$
10.24 

 

 

Summary of Company's activities with respect to non-vested restricted stock awards and non-vested restricted stock units

 

 

 

Number of
Shares (in
thousands)

 

 

Weighted
Average
Grant-Date
Fair Value

 

Non-vested at January 1, 2014

 

391

 

 

 $

49.27

 

Granted 01/01/14 - 03/31/14

 

-

 

 

-

 

Granted 04/01/14 - 06/30/14

 

10

 

 

69.00

 

Granted 07/01/14 - 09/30/14

 

-

 

 

-

 

Granted 10/01/14 - 12/31/14

 

6

 

 

111.30

 

Vested

 

(241

)

 

44.16

 

Forfeited/cancelled

 

(17

)

 

51.79

 

Non-vested at December 31, 2014

 

149

 

 

 $

61.09

 

 

Schedule of total compensation cost relating to incentive stock option, charged against income

 

 

 

2014

 

2013

 

2012

 

Operating expenses

 

  $

28,552 

 

  $

28,764 

 

  $

28,413 

 

Total employee and non-employee share-based compensation expense included in income, before income tax

 

28,552 

 

28,764 

 

28,413 

 

Less: Amount of income tax benefit recognized in earnings

 

(2,932)

 

(7,730)

 

(8,933)

 

Amount charged against net income

 

  $

25,620 

 

  $

21,034 

 

  $

19,480