XML 63 R51.htm IDEA: XBRL DOCUMENT v3.5.0.2
STOCK-BASED COMPENSATION (Details) - USD ($)
$ / shares in Units, $ in Thousands
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
STOCK-BASED COMPENSATION    
Proceeds from stock option exercises $ 47,563 $ 40,253
Stock options    
STOCK-BASED COMPENSATION    
Award vesting period 3 years  
Expiration period 10 years  
Compensation expense $ 15,500 14,900
Fair value of shares vested 17,200 16,100
Proceeds from stock option exercises 47,600  
Actual tax benefit realized for the tax deduction from option exercises 12,000  
Unrecognized compensation cost expected to be recognized in future periods $ 16,100  
Weighted-average period over which compensation cost is expected to be recognized 1 year 6 months  
Stock options | Selling, research & development and administrative expenses    
STOCK-BASED COMPENSATION    
Compensation expense $ 13,700 13,200
Restricted stock units    
STOCK-BASED COMPENSATION    
Compensation expense 2,300 2,300
Unrecognized compensation cost expected to be recognized in future periods $ 1,800  
Weighted-average period over which compensation cost is expected to be recognized 1 year 2 months 12 days  
Weighted-Average Grant-Date Fair Value    
Fair value of units vested $ 1,900 757
Intrinsic value of units vested $ 2,300 $ 877
Stock Awards Plans | Stock options    
STOCK-BASED COMPENSATION    
Weighted-average fair value of stock options granted (in dollars per share) $ 12.87 $ 12.83
Assumptions used to estimate fair value of stock options granted    
Dividend Yield (as a percent) 1.80% 1.70%
Expected Stock Price Volatility (as a percent) 20.40% 21.90%
Risk-free Interest Rate (as a percent) 1.60% 1.60%
Expected Life of Option (years) 6 years 8 months 12 days 6 years 10 months 24 days
Stock options activity    
Outstanding at the beginning of the period (in shares) 8,032,030  
Granted (in shares) 1,481,180  
Exercised (in shares) (1,149,958)  
Forfeited or expired (in shares) (130,374)  
Outstanding at the end of the period (in shares) 8,232,878  
Exercisable at the end of the period (in shares) 5,463,806  
Weighted Average Exercise Price    
Outstanding at the beginning of the period (in dollars per share) $ 51.44  
Granted (in dollars per share) 71.17  
Exercised (in dollars per share) 42.83  
Forfeited or expired (in dollars per share) 62.29  
Outstanding at the end of the period (in dollars per share) 56.02  
Exercisable at the end of the period (in dollars per share) $ 49.66  
Weighted-Average Remaining Contractual Term (Years):    
Outstanding at the end of the period 6 years 3 months 18 days  
Exercisable at the end of the period 5 years  
Aggregate Intrinsic Value:    
Outstanding at the end of the period $ 176,104  
Exercisable at the end of the period 151,634  
Intrinsic Value of Options Exercised $ 38,514 $ 31,920
Stock Awards Plans | Restricted stock units    
STOCK-BASED COMPENSATION    
Award vesting period 3 years  
Restricted stock unit activity    
Balance at the beginning of the period (in shares) 66,376  
Granted (in shares) 21,754  
Vested (in shares) (11,371)  
Forfeited (in shares) (4,632)  
Balance at the end of the period (in shares) 72,127  
Weighted-Average Grant-Date Fair Value    
Nonvested at the beginning of the period (in dollars per share) $ 66.61  
Granted (in dollars per share) 73.45  
Vested (in dollars per share) 61.96  
Forfeited (in dollars per share) 68.00  
Nonvested at the end of the period (in dollars per share) $ 69.31  
Director Stock Option Plans | Stock options    
Stock options activity    
Outstanding at the beginning of the period (in shares) 303,501  
Exercised (in shares) (22,167)  
Outstanding at the end of the period (in shares) 281,334  
Exercisable at the end of the period (in shares) 255,998  
Weighted Average Exercise Price    
Outstanding at the beginning of the period (in dollars per share) $ 56.00  
Exercised (in dollars per share) 50.37  
Outstanding at the end of the period (in dollars per share) 56.45  
Exercisable at the end of the period (in dollars per share) $ 55.44  
Weighted-Average Remaining Contractual Term (Years):    
Outstanding at the end of the period 6 years 1 month 6 days  
Exercisable at the end of the period 6 years  
Aggregate Intrinsic Value:    
Outstanding at the end of the period $ 5,897  
Exercisable at the end of the period 5,623  
Intrinsic Value of Options Exercised $ 536 1,449
Director Stock Option Plans | Restricted stock units    
Restricted stock unit activity    
Balance at the beginning of the period (in shares) 18,857  
Granted (in shares) 15,745  
Vested (in shares) (18,857)  
Balance at the end of the period (in shares) 15,745  
Weighted-Average Grant-Date Fair Value    
Nonvested at the beginning of the period (in dollars per share) $ 63.10  
Granted (in dollars per share) 75.56  
Vested (in dollars per share) 63.10  
Nonvested at the end of the period (in dollars per share) $ 75.56  
New long-term incentive program    
STOCK-BASED COMPENSATION    
Compensation expense $ 973 $ 857
Performance period used to measure cumulative total shareholder return of common stock 3 years  
Expected total expense related to program over the performance period $ 3,700