Stock-Based Compensation (Tables)
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12 Months Ended |
Dec. 31, 2015 |
| Stock-Based Compensation |
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| Schedule of exercise prices for stock options outstanding and exercisable |
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Options Outstanding
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Options Exercisable
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Price Range
|
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Number Outstanding as of December 31, 2015
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Weighted- Average Remaining Contractual Term (In Years)
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Weighted- Average Exercise Price
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Number Exercisable as of December 31, 2015
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Weighted- Average Remaining Contractual Term (In Years)
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Weighted- Average Exercise Price
|
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$0.00 - $10.00
|
|
686
|
|
1
|
|
$
|
2.12
|
|
686
|
|
1
|
|
$
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2.12
|
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$10.01 - $15.00
|
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84,329
|
|
3
|
|
$
|
14.83
|
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84,329
|
|
3
|
|
$
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14.83
|
|
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$15.01 - $20.00
|
|
246,524
|
|
4
|
|
$
|
18.96
|
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246,524
|
|
4
|
|
$
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18.96
|
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$20.01 - $25.00
|
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496,947
|
|
4
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$
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20.29
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480,947
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|
4
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|
$
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20.25
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$25.01 - $30.00
|
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305,415
|
|
4
|
|
$
|
28.12
|
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227,415
|
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3
|
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$
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28.64
|
|
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$30.01 - $35.00
|
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403,001
|
|
7
|
|
$
|
34.04
|
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349,001
|
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6
|
|
$
|
34.02
|
|
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$35.01 - $40.00
|
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2,378,839
|
|
6
|
|
$
|
37.90
|
|
1,440,839
|
|
6
|
|
$
|
37.70
|
|
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$40.01 and above
|
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1,977,500
|
|
9
|
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$
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49.42
|
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252,500
|
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8
|
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$
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48.09
|
|
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|
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|
|
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|
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|
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5,893,241
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7
|
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$
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38.38
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3,082,241
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5
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$
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32.61
|
|
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|
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|
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| Schedule of stock option activity |
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For the Years Ended December 31,
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2015
|
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2014
|
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2013
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Options
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Weighted- Average Exercise Price
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Options
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Weighted- Average Exercise Price
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Options
|
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Weighted- Average Exercise Price
|
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Total options outstanding, beginning of period
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6,669,614
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$
|
34.02
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6,271,058
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$
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30.43
|
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7,908,300
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$
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27.21
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Granted
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929,000
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$
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51.59
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1,161,000
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$
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47.84
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1,190,000
|
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$
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38.75
|
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Exercised
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(894,071
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)
|
$
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27.78
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(697,544
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)
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$
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24.87
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(2,494,893
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)
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$
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24.65
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Forfeited and cancelled
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(811,302
|
)
|
$
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29.45
|
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(64,900
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)
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$
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32.65
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(332,349
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)
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$
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27.01
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Total options outstanding, end of period
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5,893,241
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$
|
38.38
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6,669,614
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|
$
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34.02
|
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6,271,058
|
|
$
|
30.43
|
|
|
|
|
|
|
|
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Performance-based options outstanding, end of period (1)
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—
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$
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—
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623,100
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$
|
25.27
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629,300
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$
|
25.27
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Exercisable at end of period
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3,082,241
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$
|
32.61
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3,013,114
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$
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29.66
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2,712,891
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$
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28.69
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(1)
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These stock options are included in the caption “Total options outstanding, end of period.” See discussion of the 2005 LTIP below. |
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| Schedule of restricted stock unit activity |
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For the Years Ended December 31,
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2015
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2014
|
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2013
|
|
|
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Restricted Stock Units
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Weighted- Average Grant Date Fair Value
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|
Restricted Stock Units
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Weighted- Average Grant Date Fair Value
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Restricted Stock Units
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Weighted- Average Grant Date Fair Value
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Total restricted stock units outstanding, beginning of period
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96,768
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|
$
|
29.29
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121,877
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$
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29.93
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151,683
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$
|
30.18
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Granted
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100,000
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$
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50.00
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—
|
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$
|
—
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—
|
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$
|
—
|
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Vested
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(83,992
|
)
|
$
|
45.72
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(22,877
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)
|
$
|
33.08
|
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(22,876
|
)
|
$
|
33.08
|
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Forfeited and cancelled
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(55,448
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)
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$
|
27.01
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(2,232
|
)
|
$
|
25.51
|
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(6,930
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)
|
$
|
24.88
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Total restricted stock units outstanding, end of period
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57,328
|
|
$
|
42.31
|
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96,768
|
|
$
|
29.29
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|
121,877
|
|
$
|
29.93
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Restricted Performance Units outstanding, end of period
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33,334
|
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$
|
50.00
|
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55,448
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$
|
27.00
|
|
57,680
|
|
$
|
26.94
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| Schedule of allocated non-cash, stock-based compensation expense for all employees |
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For the Years Ended December 31,
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|
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2015
|
|
2014
|
|
2013
|
|
|
|
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(In thousands)
|
|
|
Research and development expenses
|
|
$
|
4,570
|
|
$
|
2,403
|
|
$
|
3,478
|
|
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Selling, general and administrative expenses
|
|
17,269
|
|
12,280
|
|
14,875
|
|
|
|
|
|
|
|
|
|
|
|
Total stock-based compensation
|
|
$
|
21,839
|
|
$
|
14,683
|
|
$
|
18,353
|
|
|
|
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| Schedule of assumptions of Black-Scholes option valuation model |
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For the Years Ended December 31,
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Assumptions:
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2015
|
|
2014
|
|
2013
|
|
|
Risk-free interest rate
|
|
1.38% - 1.80%
|
|
1.72% - 1.85%
|
|
0.99% - 1.54%
|
|
|
Volatility factor
|
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27.16% - 27.85%
|
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29.05% - 35.02%
|
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37.54% - 42.23%
|
|
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Expected term of options in years
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5.3 - 5.4
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5.2 - 5.3
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5.4 - 5.5
|
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Weighted-average grant-date fair value
|
|
$12.25 - $15.05
|
|
$13.79 - $17.21
|
|
$15.59 - $17.20
|
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|