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Employee Stock Purchase Plan, Stock Options and Warrants (Tables)

12 Months Ended

Dec. 31, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs

The stock-based compensation expense before income tax expense for the years ended December 31, 2018, 2017 and 2016, consisted of the following (in thousands):

	2018				2017				2016
Cost of goods sold	$	870			$	632			$	472
Research and development	553				376				184
Selling, general, and administrative	4,694				3,067				1,850
Stock-based compensation expense before taxes	$	6,117			$	4,075			$	2,506

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

In applying the Black-Scholes methodology to the option grants, the fair value of our stock-based awards granted were estimated using the following assumptions for the periods indicated below:

	2018				2017				2016
Risk-free interest rate	2.63%	-	2.77%		1.77%	-	1.83%		1.15%	-	1.40%
Expected option life	5.0 years				5.0 years				5.0 years
Expected dividend yield	—%				—%				—%
Expected price volatility	34.06%	-	34.32%		33.81%	-	34.07%		34.28%	-	37.06%

Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding and Exercisable

The table below presents information related to stock option activity for the years ended December 31, 2018, 2017 and 2016 (in thousands):

	2018				2017				2016
Total intrinsic value of stock options exercised	$	25,692			$	9,264			$	3,648
Cash received from stock option exercises	8,510				5,552				4,577
Excess tax benefit from the exercise of stock options	4,278				2,264				669

Schedule of Share-based Compensation, Stock Options, Activity

Changes in stock options for the year ended December 31, 2018, consisted of the following (shares and intrinsic value in thousands):

	Number of Shares			Weighted Average Exercise Price				Remaining Contractual Term (in years)		Intrinsic Value
Beginning balance	3,623			$	20.40
Granted	692			46.45
Exercised	(690	)		15.41
Forfeited/expired	(118	)		26.90
Outstanding at December 31	3,507			26.30				4.54		$	103,483
Exercisable	1,101			17.71				3.33		41,963
Ending vested and expected to vest	3,388			26.05				4.51		100,820

Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range

The following table summarizes information about stock options outstanding at December 31, 2018 (shares in thousands): 

				Options Outstanding								Options Exercisable
Range of Exercise				Number Outstanding		Weighted Average Remaining Contractual Life (in years)		Weighted Average Exercise Price				Number Exercisable		Weighted Average Exercise Price
$9.95	-	$16.05		982		3.02		$	13.99			585		$	13.16
$16.41	-	$22.00		683		3.73		$	18.93			319		$	18.76
$28.20	-	$28.20		961		5.27		$	28.20			159		$	28.20
$34.40	-	$50.50		881		6.04		$	43.65			38		$	34.74
$9.95	-	$50.50		3,507								1,101

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Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms.

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