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Share-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Weighted Average Option Fair Values and Assumptions
Weighted average option fair values and assumptions for the periods specified are disclosed below. The fair value of each option grant was estimated on the date of the grant using the Binomial lattice option pricing model.
 
 
 
 
 
 
 
 
 
Three Months Ended 
 June 30,
 
Six Months Ended 
 June 30,
 
2017
 
2016
 
2017
 
2016
Weighted average fair value of option grants
$24.68
 
$20.60
 
$24.12
 
$18.41
Dividend yield
1.43%
 
1.63%
 
1.45%
 
1.70%
Volatility
29.32%
 
29.62%
 
29.41%
 
29.71%
Risk-free forward interest rate
1.06%-2.90%
 
0.60% - 2.56%
 
0.83%-3.04%
 
0.53% - 2.50%
Expected life (in years)
5.82
 
5.91
 
5.83
 
5.91
Schedule of Compensation Cost for Stock Options
Total compensation cost for stock options is as follows:
 
 
Three Months Ended 
 June 30,
 
Six Months Ended 
 June 30,
 
2017
 
2016
 
2017
 
2016
Cost of goods sold
$
88

 
$
143

 
$
274

 
$
262

Selling, general and administrative expenses
1,599

 
1,511

 
3,883

 
3,806

Total expense before income taxes
1,687

 
1,654

 
4,157

 
4,068

Income tax benefit
(547
)
 
(526
)
 
(1,294
)
 
(1,286
)
Total expense after income taxes
$
1,140

 
$
1,128

 
$
2,863

 
$
2,782
Schedule of Stock Option Activity
A summary of the Company’s stock option activity as of June 30, 2017, and changes during the six months ended June 30, 2017, are presented in the following table:
 
Stock Options
Shares
 
Weighted
Average
Price
 
Weighted-Average
Remaining
Contractual Term
 
Aggregate
Intrinsic
Value
Outstanding at January 1, 2017
1,987,946

 
$
61.83

 
6.84
 
$
56,144,876

Granted
437,500

 
93.22

 
 
 
 
Exercised
(231,932
)
 
55.98

 
 
 
 
Forfeited
(37,642
)
 
77.76

 
 
 
 
Outstanding at June 30, 2017
2,155,872

 
$
68.56

 
7.08
 
$
95,835,269

Vested and expected to vest as of June 30, 2017
2,012,365

 
$
67.41

 
6.95
 
$
91,759,774

Exercisable at June 30, 2017
1,078,817

 
$
54.24

 
5.43
 
$
63,406,719
Schedule of Restricted Stock Activity
A summary of the Company’s restricted stock activity as of June 30, 2017, and changes during the six months ended June 30, 2017, are presented as follows:

Restricted Stock
Shares
 
Weighted-Average
Grant Date Fair
Value
Unvested at January 1, 2017
217,898

 
$
76.19

Granted
57,930

 
93.16

Vested
(72,744
)
 
71.89

Forfeited
(8,495
)
 
78.14

Unvested at June 30, 2017
194,589

 
$
82.76
Schedule of Compensation Cost for Restricted Stock
Total compensation cost for restricted shares is as follows:
 
 
Three Months Ended 
 June 30,
 
Six Months Ended 
 June 30,
 
2017
 
2016
 
2017
 
2016
Cost of goods sold
$
67

 
$
133

 
$
219

 
$
261

Selling, general and administrative expenses
1,306

 
968

 
2,559

 
2,498

Total expense before income taxes
1,373

 
1,101

 
2,778

 
2,759

Income tax benefit
(486
)
 
(324
)
 
(925
)
 
(837
)
Total expense after income taxes
$
887

 
$
777

 
$
1,853

 
$
1,922
Schedule of Unvested Cash-settled Restricted Stock Activity
A summary of the Company’s unvested cash-settled restricted stock activity as of June 30, 2017, and changes during the six months ended June 30, 2017, are presented in the following table:
Cash-Settled Restricted Stock
Shares
 
Weighted-Average
Fair Value
Unvested at January 1, 2017
103,790

 
$
90.06

Granted
33,670

 
93.32

Vested
(26,745
)
 
92.13

Forfeited
(12,310
)
 
113.01

Unvested at June 30, 2017
98,405

 
$
113.01
Schedule of Compensation Cost for Unvested Cash-settled Restricted Stock
Total compensation cost for cash-settled restricted stock is as follows:
 
Three Months Ended 
 June 30,
 
Six Months Ended 
 June 30,
 
2017
 
2016
 
2017
 
2016
Cost of goods sold
$
388

 
$
131

 
$
636

 
$
320

Selling, general and administrative expenses
1,077

 
461

 
1,507

 
961

Total expense before income taxes
1,465

 
592

 
2,143

 
1,281

Income tax benefit
(240
)
 
(86
)
 
(382
)
 
(184
)
Total expense after income taxes
$
1,225

 
$
506

 
$
1,761

 
$
1,097
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 disclosed below. The performance share units are market condition awards and have been assessed at fair value on the date of grant using a Monte Carlo simulation model.
 
 
Six Months Ended June 30,
 
 
2017
 
2016
Weighted average fair value of performance share units
 
$115.74
 
$111.42
Dividend yield
 
—%
 
—%
Volatility
 
17.36%
 
17.99%
Risk-free forward interest rate
 
1.45%
 
0.89%
Expected life (in years)
 
2.85
 
2.86
Schedule of Performance Shares Units Activity
A summary of the Company’s performance share unit activity as of June 30, 2017, and changes during the six months ended June 30, 2017, are presented in the following table:

Performance Share Units
Shares
 
Weighted-Average
Grant Date Fair
Value
Unvested at January 1, 2017
137,055

 
$
104.18

Granted
65,530

 
115.74

Vested
—

 
—

Forfeited and other
(4,260
)
 
101.79

Unvested at June 30, 2017
198,325

 
$
108.24
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs
Total compensation cost for performance share units is as follows:
 
 
Three Months Ended 
 June 30,
 
Six Months Ended 
 June 30,
 
2017
 
2016
 
2017
 
2016
Cost of goods sold
$
—

 
$
—

 
$
—

 
$
—

Selling, general and administrative expenses
1,714

 
1,815

 
3,320

 
3,496

Total expense before income taxes
1,714

 
1,815

 
3,320

 
3,496

Income tax benefit
(586
)
 
(633
)
 
(1,093
)
 
(1,168
)
Total expense after income taxes
$
1,128

 
$
1,182

 
$
2,227

 
$
2,328