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STOCK-BASED COMPENSATION (Tables)
3 Months Ended
Mar. 31, 2015
STOCK-BASED COMPENSATION  
Schedule of weighted-average assumptions used to estimate the fair value of options granted

 

 

 

Three-Months Ended March 31,

 

 

2015

 

2014

Dividend yield

 

0.0% 

 

0.0% 

Expected volatility

 

37.1% 

 

43.1% 

Risk-free interest rate

 

1.6% 

 

1.6% 

Expected term

 

5.8 years

 

5.9 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, 2015

 

13,066 

 

$

19.73 

 

3.1 

 

$

1,158,412 

 

Granted 01/01/15 - 03/31/15

 

903 

 

$

133.68 

 

 

 

 

 

Exercised

 

(4,589)

 

$

4.17 

 

 

 

 

 

Cancelled or forfeited

 

(16)

 

$

40.61 

 

 

 

 

 

Outstanding at March 31, 2015

 

9,364 

 

$

38.30 

 

4.8 

 

$

937,246 

 

Vested and expected to vest in the future at March 31, 2015

 

8,869 

 

$

35.23 

 

4.6 

 

$

915,012 

 

Exercisable at March 31, 2015

 

6,284 

 

$

17.00 

 

2.9 

 

$

762,806 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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, 2015

 

149 

 

$

61.09 

 

Granted

 

83 

 

$

135.48 

 

Vested

 

(16)

 

$

57.05 

 

Forfeited/cancelled

 

(2)

 

$

57.45 

 

Non-vested at March 31, 2015

 

214 

 

$

90.23