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STOCK-BASED COMPENSATION (Tables)
9 Months Ended
Sep. 30, 2016
STOCK-BASED COMPENSATION  
Schedule of weighted-average assumptions used to estimate the fair value of options granted

 

 

 

Three-Months Ended September 30,

 

 

Nine-Months Ended September 30,

 

 

2016

 

2015

 

 

2016

 

2015

Dividend yield

 

0.0%

 

 

0.0%

 

 

 

0.0%

 

 

0.0%

 

Expected volatility

 

36.3%

 

 

36.7%

 

 

 

36.1%

 

 

37.1%

 

Risk-free interest rate

 

1.1%

 

 

1.5%

 

 

 

1.4%

 

 

1.6%

 

Expected term

 

6.4 years

 

 

6.1 years

 

 

 

6.3 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

 

 

 

 

Granted 04/01/16 - 06/30/16

 

219

 

  $

138.53

 

 

 

 

Granted 07/01/16 - 09/30/16

 

14

 

  $

157.80

 

 

 

 

Exercised

 

(284)

 

  $

37.34

 

 

 

 

Cancelled or forfeited

 

(88)

 

  $

98.28

 

 

 

 

Outstanding at September 30, 2016

 

7,412

 

  $

64.14

 

5.6

 

  $

613,113

Vested and expected to vest in the future at September 30, 2016

 

7,011

 

  $

60.94

 

5.4

 

  $

602,318

Exercisable at September 30, 2016

 

4,359

 

  $

31.77

 

3.7

 

  $

501,457

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

 

Granted 04/01/16- 06/30/16

 

12

 

  $

148.94

 

Granted 07/01/16- 09/30/16

 

-

 

  $

-

 

Vested

 

(81)

 

  $

95.62

 

Forfeited/cancelled

 

(1)

 

  $

57.45

 

Non-vested at September 30, 2016

 

190

 

  $

118.68