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STOCK-BASED COMPENSATION (Tables)
6 Months Ended
Jun. 30, 2015
STOCK-BASED COMPENSATION  
Schedule of weighted-average assumptions used to estimate the fair value of options granted

 

 

 

 

Three-Months Ended June 30,

 

Six-Months Ended June 30,

 

 

 

2015

 

2014

 

2015

 

2014

 

Dividend yield

 

0.0%

 

0.0%

 

0.0%

 

0.0%

 

Expected volatility

 

37.0%

 

37.4%

 

37.1%

 

42.4%

 

Risk-free interest rate

 

1.5%

 

1.6%

 

1.6%

 

1.6%

 

Expected term

 

5.8 years

 

5.6 years

 

5.8 years

 

5.9 years

 

 

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

 

 

 

 

 

 

 

 

Weighted-

 

 

 

 

 

 

Weighted-

 

Average

 

 

 

 

 

 

Average

 

Remaining

 

 

 

 

Number of

 

Exercise

 

Contractual

 

 

Options

 

Shares (In
thousands)

 

Price Per
Share

 

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

 

 

 

 

Granted 04/01/15 - 06/30/15

 

33

 

  $

133.43

 

 

 

 

Exercised

 

(7,052)

 

  $

5.93

 

 

 

 

Cancelled or forfeited

 

(60)

 

  $

57.50

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at June 30, 2015

 

6,890

 

  $

49.01

 

6.0

 

  $

586,962

Vested and expected to vest in the future at June 30, 2015

 

6,446

 

  $

45.78

 

5.8

 

  $

569,888

Exercisable at June 30, 2015

 

4,052

 

  $

23.45

 

4.2

 

  $

448,009

 

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

 

 

 

 

 

 

Weighted

 

 

Number of

 

Average

 

 

Shares (in

 

Grant-Date

 

 

thousands)

 

Fair Value

Non-vested at January 1, 2015

 

149

 

 $

61.09

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

 

83

 

 $

135.48

Granted 04/01/15 - 06/30/15

 

 

 

 

 

Vested

 

(21)

 

 $

59.10

Forfeited/cancelled

 

(11)

 

 $

61.66

 

 

 

 

 

 

Non-vested at June 30, 2015

 

200

 

 $

91.94