XML 52 R37.htm IDEA: XBRL DOCUMENT v3.22.4

9. Share-based Compensation (Tables)

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement, Noncash Expense [Abstract]

Stock Options Activity

The following table summarizes stock option activity:

						Shares						Weighted- Average Exercise Price						Weighted- Average Remaining Contractual Term (in years)						Aggregate Intrinsic Value (in millions)
Outstanding, December 31, 2021						250,441						$	246.41
Granted						—						$	—
Exercised						(39,250)						$	107.32
Forfeited						(4,771)						$	368.81
Outstanding, December 31, 2022						206,420						$	270.03					4.10						$	39.5
Unvested, December 31, 2022						37,192						$	539.67					7.47						$	1.4
Exercisable, December 31, 2022						169,228						$	210.77					3.36						$	38.1

Stock Options Valuation Assumptions

The weighted-average fair value of stock options granted was estimated using a Black-Scholes option-pricing model with the following weighted-average assumptions:

						Year Ended December 31,
						2022						2021						2020
Expected volatility						—						27		%				27		%
Risk-free interest rate						—						1.05		%				0.31		%
Expected life (in years)						0.0						7.3						7.4
Expected dividend						—						—						—
Weighted-average fair value of options granted						$	—					$	251.93					$	153.32

Resticted Stock Activity

The following tables summarize restricted stock units and performance-based stock units activity:

						Restricted Stock Units						Weighted- Average Grant-Date Fair Value						Weighted-Average Remaining Contractual Term (in years)						Aggregate Intrinsic Value (in millions)
Outstanding, December 31, 2021						316,860						$	495.57
Granted						140,560						$	486.29
Vested						(113,323)						$	433.46
Forfeited						(29,855)						$	463.70
Outstanding, December 31, 2022						314,242						$	516.85					1.67						$	132.1

						Performance-based Stock Units						Weighted- Average Grant-Date Fair Value						Weighted-Average Remaining Contractual Term (in years)						Aggregate Intrinsic Value (in millions)
Outstanding, December 31, 2021						—						$	—
Granted						11,391						$	486.25
Vested						—						$	—
Forfeited						—						$	—
Outstanding, December 31, 2022						11,391						$	486.25					1.83						$	4.8

Employee Stock Purchase Plan, Valuation Assumptions

The fair value of the employees’ purchase rights under the 2011 ESPP was estimated using a Black-Scholes model with the following weighted-average assumptions:

			Year Ended December 31,
			2022						2021						2020
Expected volatility			41		%				25		%				41		%
Risk-free interest rate			1.71		%				0.05		%				0.50		%
Expected life (in years)			0.25						0.25						0.25
Expected dividend			—						—						—
Weighted-average fair value
of purchase rights			$	124.26					$	127.16					$	94.93

Share-based Payment Arrangement, Expensed and Capitalized, Amount

Share-based compensation expense is allocated in the consolidated statements of income (loss) as follows (in millions):

						Year ended December 31,
						2022						2021						2020
Cost of goods sold						$	5.4					$	4.9					$	3.4
Selling, general and administrative expense						45.6						38.0						31.8
Research and development expense						9.9						8.3						6.4
Share-based compensation expense						$	60.9					$	51.2					$	41.6

X

- Definition

Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
-URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901

+ Details

Name:	us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the significant assumptions used during the year to estimate the fair value of employee stock purchase plans, including, but not limited to: (a) expected term, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (f)(2)
-URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901

+ Details

Name:	us-gaap_ScheduleOfShareBasedPaymentAwardEmployeeStockPurchasePlanValuationAssumptionsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (f)(2)
-URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901

+ Details

Name:	us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year.

+ References

No definition available.

+ Details

Name:	us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_ShareBasedCompensationAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the weighted-average grant-date fair value of equity options or other equity instruments granted during the year.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (d)(1)
-URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901

+ Details

Name:	us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValueTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration