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STOCK-BASED COMPENSATION (Tables)
3 Months Ended
Mar. 31, 2016
STOCK-BASED COMPENSATION  
Schedule of weighted-average assumptions used to estimate the fair value of options granted

 

 

 

 

Three-Months Ended March 31,

 

 

 

2016

 

2015

 

Dividend yield

 

0.0% 

 

 

0.0% 

 

 

Expected volatility

 

36.2% 

 

 

37.1% 

 

 

Risk-free interest rate

 

1.5% 

 

 

1.6% 

 

 

Expected term

 

5.7 years

 

 

5.8 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, 2016

 

6,590

 

  $

50.85

 

5.6

 

  $

646,497

Granted 01/01/16 - 03/31/16

 

961

 

  $

132.06

 

 

 

 

Exercised

 

(110)

 

  $

37.18

 

 

 

 

Cancelled or forfeited

 

(8)

 

  $

93.05

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at March 31, 2016

 

7,433

 

  $

61.50

 

5.7

 

  $

536,196

Vested and expected to vest in the future at March 31, 2016

 

6,969

 

  $

57.97

 

5.5

 

  $

527,253

Exercisable at March 31, 2016

 

4,257

 

  $

30.38

 

4.0

 

  $

438,805

 

 

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, 2016

 

178

 

  $

99.58

 

Granted 01/01/16- 03/31/16

 

82

 

  $

131.96

 

Vested

 

(46)

 

  $

109.44

 

Forfeited/cancelled

 

-

 

  $

   

 

 

 

 

 

 

 

 

Non-vested at March 31, 2016

 

214

 

  $

109.84