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Share-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
Schedule of Weighted Average Option Fair Values and Assumptions | Weighted average option fair values and assumptions for the period are as follows:
| Years Ended December 31,
| 2015 |  | 2014 |  | 2013
Weighted average fair value of grants | $20.32 |  | $19.52 |  | $12.97
Dividend yield | 1.45% |  | 1.27% |  | 1.57%
Volatility | 29.90% |  | 30.36% |  | 30.92%
Risk-free interest rate | 0.24% - 2.82% |  | 0.12% - 4.65% |  | 0.17% - 4.12%
Expected life (in years) | 5.93 |  | 5.89 |  | 5.86
Schedule of Stock Option Activity | A summary of the Company’s stock option activity as of December 31, 2015, and changes during the year ended December 31, 2015 is presented as follows:
Stock Options | Shares |  | Weighted Average Price |  | Weighted-Average Remaining Contractual Term |  | Aggregate Intrinsic Value
Outstanding at January 1, 2015 | 2,378,559 |  |  | $ | 46.91 |  |  | 6.69 |  | $ | 73,561,785 |
Granted | 525,255 |  |  | 78.22 |  |  |  |  |
Exercised | (469,497 | ) |  | 40.73 |  |  |  |  |
Forfeited/Expired | (167,884 | ) |  | 65.82 |  |  |  |  |
Outstanding at December 31, 2015 | 2,266,433 |  |  | $ | 54.05 |  |  | 6.58 |  | $ | 51,918,028 |
Vested and expected to vest at December 31, 2015 | 2,169,134 |  |  | $ | 53.17 |  |  | 6.48 |  | $ | 51,531,931 |
Exercisable at December 31, 2015 | 1,201,889 |  |  | $ | 41.72 |  |  | 5.13 |  | $ | 41,942,569 |
Schedule of Compensation Cost for Stock Options | Total compensation cost for stock options is as follows:
| Years Ended December 31,
| 2015 |  | 2014 |  | 2013
| (In thousands)
Cost of goods sold | $ | 543 |  |  | $ | 581 |  |  | $ | 479 |
Selling, general and administrative expenses | 6,488 |  |  | 6,245 |  |  | 5,789 |
Total expense before income taxes | 7,031 |  |  | 6,826 |  |  | 6,268 |
Income tax benefit | (2,208 | ) |  | (2,194 | ) |  | (2,016 | )
Total expense after income taxes | $ | 4,823 |  |  | $ | 4,632 |  |  | $ | 4,252 |
Schedule of Restricted Stock Activity | A summary of the Company’s restricted stock activity as of December 31, 2015, and changes during the year ending December 31, 2015 is as follows:
Restricted Stock | Shares |  | Weighted-Average Grant Date Fair Value
Unvested at January 1, 2015 | 359,269 |  |  | $ | 53.68 |
Granted | 99,130 |  |  | 78.20 |
Vested | (136,310 | ) |  | 44.05 |
Forfeited | (49,334 | ) |  | 62.00 |
Unvested at December 31, 2015 | 272,755 |  |  | $ | 65.90 |
Schedule of Compensation Cost for Restricted Stock | Total compensation cost for restricted stock is as follows:
| Years Ended December 31,
| 2015 |  | 2014 |  | 2013
| (In thousands)
Cost of goods sold | $ | 341 |  |  | $ | 369 |  |  | $ | 319 |
Selling, general and administrative expenses | 5,213 |  |  | 6,182 |  |  | 5,890 |
Total expense before income taxes | 5,554 |  |  | 6,551 |  |  | 6,209 |
Income tax benefit | (1,604 | ) |  | (1,630 | ) |  | (1,801 | )
Total expense after income taxes | $ | 3,950 |  |  | $ | 4,921 |  |  | $ | 4,408 |
Schedule of Unvested Cash-settled Restricted Stock Activity | A summary of the Company’s unvested cash-settled restricted stock activity as of December 31, 2015, and changes during the year ending December 31, 2015 is as follows:
Cash-Settled Restricted Stock | Shares |  | Weighted-Average Fair Value
Unvested at January 1, 2015 | 119,395 |  |  | $ | 77.84 |
Granted | 46,495 |  |  | 76.56 |
Vested | (41,640 | ) |  | 77.90 |
Forfeited | (13,390 | ) |  | 76.59 |
Unvested at December 31, 2015 | 110,860 |  |  | $ | 76.61 |
Schedule of Compensation Cost for Unvested Cash-settled Restricted Stock | Total compensation cost for cash-settled restricted stock is as follows:
| Years Ended December 31,
| 2015 |  | 2014 |  | 2013
| (In thousands)
Cost of goods sold | $ | 753 |  |  | $ | 1,384 |  |  | $ | 1,061 |
Selling, general and administrative expenses | 1,765 |  |  | 2,735 |  |  | 2,581 |
Total expense before income taxes | 2,518 |  |  | 4,119 |  |  | 3,642 |
Income tax benefit | (355 | ) |  | (603 | ) |  | (495 | )
Total expense after income taxes | $ | 2,163 |  |  | $ | 3,516 |  |  | $ | 3,147 |
Schedule of Weighted Average Performance Share Units Fair Values and Assumptions | Weighted average performance share unit fair values and assumptions for the period specified are as follows:
| Years Ended December 31,
| 2015 |  | 2014 |  | 2013
Weighted average fair value of grants | $95.07 |  | $94.55 |  | $59.58
Dividend yield | —% |  | —% |  | —%
Volatility | 19.14% |  | 26.41% |  | 28.99%
Risk-free interest rate | 1.01% |  | 0.65% |  | 0.40%
Expected life (in years) | 2.86 |  | 2.88 |  | 2.87
Schedule of Performance Shares Units Activity | A summary of the Company’s performance share unit activity as of December 31, 2015, and changes during the year ending December 31, 2015 are as follows:
Performance Share Units | Shares |  | Weighted-Average Grant Date Fair Value
Unvested at January 1, 2015 | 135,540 |  |  | $ | 81.87 |
Granted | 79,710 |  |  | 95.07 |
Vested | (43,800 | ) |  | 59.58 |
Forfeited | (25,175 | ) |  | 87.28 |
Unvested at December 31, 2015 | 146,275 |  |  | $ | 94.80 |
Performance Shares Units |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs | Total compensation cost for performance share units is as follows:
| Years Ended December 31,
| 2015 |  | 2014 |  | 2013
| (In thousands)
Cost of goods sold | $ | — |  |  | $ | — |  |  | $ | — |
Selling, general and administrative expenses | 4,946 |  |  | 3,220 |  |  | 873 |
Total expense before income taxes | 4,946 |  |  | 3,220 |  |  | 873 |
Income tax benefit | (1,670 | ) |  | (1,081 | ) |  | (280 | )
Total expense after income taxes | $ | 3,276 |  |  | $ | 2,139 |  |  | $ | 593 |

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