XML 54 R22.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Stock-Based Compensation | 9 Months Ended
--- | ---
Sep. 30, 2014
Stock-Based Compensation [Abstract] |
Stock-Based Compensation | 13.STOCK-BASED COMPENSATION Stock Options The Company records compensation expense for employee stock options based on the estimated fair value of the options on the date of grant using the Black-Scholes option-pricing model with the assumptions included in the table below. The Company uses a combination of historical data and historical volatility to establish the expected volatility. Historical data is used to estimate the expected option life and the expected forfeiture rate. The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of grant for the estimated life of the option. The following assumptions were used to estimate the fair value of options granted using the Black-Scholes option-pricing model:
|  |  |  |  |  | For the nine months ended
|  |  |  |  |  | September 30,
|  |  |  |  |  | 2014 |  |  | 2013
Risk free interest rate |  |  |  |  |  | 1.15% - 1.37% |  |  | 0.51% - 1.38%
Dividend yield |  |  |  |  |  | 0.0% |  |  | 0.0%
Expected volatility |  |  |  |  |  | 22.0% |  |  | 25.0% - 29.0%
Expected lives |  |  |  |  |  | 4.4 years |  |  | 3.9 - 4.8 years
The following table summarizes the Company’s activities with respect to its stock option plans for the nine months ended September 30, 2014 as follows (dollars and number of shares in thousands, except for per share data):
|  |  |  |  |  |  | Weighted- |  |  |
|  |  |  | Weighted- |  | Average |  |  |
|  |  |  | Average |  | Remaining |  |  |
|  | Number |  | Exercise Price |  | Contractual |  | Aggregate
|  | of Shares |  | Per Share |  | Life (in years) |  | Intrinsic Value
Outstanding at December 31, 2013 |  | 2,979 |  | $ | 48.30 |  |  |  |  |
Granted |  | 1,121 |  | $ | 95.51 |  |  |  |  |
Exercised |  | (743) |  | $ | 36.20 |  |  |  |  |
Canceled |  | (29) |  | $ | 77.89 |  |  |  |  |
Outstanding at September 30, 2014 |  | 3,328 |  | $ | 66.64 |  | 4.9 |  | $ | 147,296
Exercisable at September 30, 2014 |  | 1,082 |  | $ | 41.08 |  | 3.2 |  | $ | 75,516
Unvested at September 30, 2014 |  | 2,246 |  | $ | 78.95 |  | 5.7 |  | $ | 71,780
The weighted-average fair value of options granted during the nine months ended September 30, 2014 and 2013 was $19.49 and $17.20, respectively. The total intrinsic value for options exercised during the nine months ended September 30, 2014 and 2013 was $46.5 million and $30.7 million, respectively. Restricted Stock Units The following table summarizes the Company’s restricted stock unit activity for the nine months ended September 30, 2014:
|  |  |  |  |  |  |  |  | Weighted-
|  |  |  |  |  |  |  |  | Average
|  |  |  |  |  |  |  |  | Grant Date
|  |  |  |  |  |  | Number of |  | Fair Value per
|  |  |  |  |  |  | Units |  | Share
|  |  |  |  |  |  | (in thousands) |  |  |
Outstanding at December 31, 2013 |  |  |  |  |  |  | 305 |  | $ | 55.60
Granted |  |  |  |  |  |  | 118 |  | $ | 95.55
Vested |  |  |  |  |  |  | (121) |  | $ | 50.14
Forfeited/canceled |  |  |  |  |  |  | (3) |  | $ | 74.31
Outstanding at September 30, 2014 |  |  |  |  |  |  | 299 |  | $ | 73.42

X
- Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration