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Employee Stock Purchase Plan, Stock Options and Warrants (Tables) | 12 Months Ended
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Dec. 31, 2023
Share-based Payment Arrangement [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, 2023, 2022 and 2021, consisted of the following (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | 2023 |  | 2022 |  | 2021
Cost of sales | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Nonqualified stock options | ​ | ​ | $ | 1,647 | ​ | $ | 1,606 | ​ | $ | 1,476
Research and development | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Nonqualified stock options | ​ | ​ | ​ | 1,739 | ​ | ​ | 1,789 | ​ | ​ | 1,343
Selling, general and administrative | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Nonqualified stock options | ​ | ​ | ​ | 7,542 | ​ | ​ | 7,305 | ​ | ​ | 6,678
Performance-based restricted stock units | ​ | ​ | ​ | 6,344 | ​ | ​ | 3,509 | ​ | ​ | 3,525
Restricted stock units | ​ | ​ | ​ | 1,771 | ​ | ​ | 1,836 | ​ | ​ | 1,557
Cash-settled performance-based share-based awards ("Liability Awards") | ​ | ​ | ​ | 2,290 | ​ | ​ | 1,997 | ​ | ​ | 1,511
Total selling, general and administrative | ​ | ​ | ​ | 17,947 | ​ | ​ | 14,647 | ​ | ​ | 13,271
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Stock-based compensation expense before taxes | ​ | ​ | $ | 21,333 | ​ | $ | 18,042 | ​ | $ | 16,090
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 was estimated using the following assumptions for the years ended December 31, 2023, 2022 and 2021:
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2023 |  | 2022 |  | 2021
Risk-free interest rate | ​ | 3.6% - 4.8% | ​ | 1.4% - 4.3% | ​ | 0.5% - 1.1%
Expected option term | ​ | 4.0 years | ​ | 4.0 years | ​ | 4.0 years
Expected dividend yield | ​ | — | ​ | — | ​ | —
Expected price volatility | ​ | 39.6% - 47.1% | ​ | 46.2% - 47.5% | ​ | 46.1% - 46.7%
Schedule of Share-based Compensation, Stock Option Activity | The table below presents information related to stock option activity for the years ended December 31, 2023, 2022 and 2021 (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2023 |  | 2022 |  | 2021
Total intrinsic value of stock options exercised | ​ | $ | 23,300 | ​ | $ | 27,110 | ​ | $ | 36,086
Cash received from stock option exercises | ​ |  | 14,503 | ​ |  | 18,952 | ​ |  | 20,194
Excess tax benefit from the exercise of stock options | ​ |  | 3,001 | ​ |  | 3,423 | ​ |  | 5,571
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding and Exercisable | Changes in stock options for the year ended December 31, 2023, consisted of the following (shares and intrinsic value in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Number | ​ | Weighted Average | ​ | Remaining Contractual | ​ | Intrinsic
​ |  | of Shares |  | Exercise Price |  | Term (in years) |  | Value
Beginning balance |  | 3,077 | ​ | $ | 49.62 |  |  |  | ​ |
Granted |  | 444 | ​ |  | 72.36 |  |  |  | ​ |
Exercised |  | (606) | ​ |  | 33.48 |  |  |  | ​ |
Forfeited/expired |  | (47) | ​ |  | 60.08 |  |  |  | ​ |
Outstanding at December 31 |  | 2,868 | ​ |  | 56.39 |  | 3.44 | ​ | $ | 56,333
Exercisable |  | 1,714 | ​ |  | 50.73 |  | 2.40 | ​ |  | 43,234
Ending vested and expected to vest |  | 2,868 | ​ |  | 56.39 |  | 3.44 | ​ |  | 56,333
Schedule of Share-based Compensation, PSUs and RSUs, Activity | Changes in PSUs and RSUs for the year ended December 31, 2023, consisted of the following:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | PSUs | ​ | RSUs
​ | ​ | ​ | ​ | Weighted Average | ​ | ​ | ​ | Weighted Average
​ | ​ | Stock Units | ​ | Grant Date | ​ | Stock Units | ​ | Grant Date
​ |  | (In Thousands) | (1) | Fair Value |  | (In Thousands) |  | Fair Value
Beginning nonvested balance |  | 179 | ​ | $ | 63.90 |  | 31 | ​ | $ | 59.02
Granted |  | 229 | ​ |  | 72.26 |  | 20 |  |  | 83.99
rTSR adjustment | ​ | 8 | (2) | ​ | 70.58 | ​ | — | ​ | ​ | —
Vested |  | (61) | ​ |  | 70.58 |  | (31) |  |  | 59.02
Forfeited |  | — | ​ |  | — |  | — |  |  | —
Nonvested balance at December 31 |  | 355 | ​ |  | 71.15 |  | 20 | ​ |  | 83.99
​
| (1) | Based on the maximum payout, excluding the impact of the rTSR multiplier. The actual number of shares which vest is determined based on the satisfaction of performance conditions and the application of an rTSR multiplier between 75% and 125%.
| (2) | Represents the application of an rTSR multiplier of 125% to certain awards vested in 2023 based on the performance of our common stock and the terms of the awards.
Schedule of Share-based Compensation, PSUs and RSUs Granted | The following table summarizes PSUs and RSUs granted during the years ended December 31, 2023, 2022, and 2021 (units and shares in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2023 |  | 2022 |  | 2021
PSUs | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Target units granted | ​ | ​ | 115 | ​ | ​ | 48 | ​ | ​ | 52
Maximum units granted (1) | ​ | ​ | 229 | ​ | ​ | 97 | ​ | ​ | 103
Maximum potential shares (1)(2) | ​ | ​ | 287 | ​ | ​ | 121 | ​ | ​ | 129
Weighted average grant date fair value | ​ | $ | 72.26 | ​ | $ | 64.54 | ​ | $ | 61.39
RSUs |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Units granted | ​ | ​ | 20 | ​ | ​ | 31 | ​ | ​ | 26
Weighted average grant date fair value | ​ | $ | 83.99 | ​ | $ | 59.02 | ​ | $ | 61.77
​
| (1) | Based on the maximum payout, excluding the impact of the rTSR multiplier.
| (2) | Includes the impact of the maximum potential rTSR multiplier of 125%.
Schedule of Share-based Payment Award, PSUs, Valuation Assumptions | The fair value of each PSU was estimated as of the grant date using the following assumptions for awards granted in the years ended December 31, 2023, 2022 and 2021: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2023 |  | 2022 |  | 2021
Risk-free interest rate | ​ | 3.9% - 4.6% | ​ | 1.6% - 2.7% | ​ | 0.1% - 0.3%
Performance period | ​ | 2.8 years | ​ | 2.6 - 2.8 years | ​ | 1.8 - 2.8 years
Expected dividend yield | ​ | — | ​ | — | ​ | —
Expected price volatility | ​ | 31.4% - 32.6% | ​ | 38.5% - 46.2% | ​ | 43.7% - 49.3%

X
- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of performance shares, 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 No definition available. + Details
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- Definition Tabular disclosure of the number and weighted-average grant date fair value for equity instruments other than options that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
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- Definition Disclosure of the number and weighted-average grant date fair value for performance shares 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
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