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Employee Stock Purchase Plan, Stock Options and Warrants (Tables) | 12 Months Ended
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Dec. 31, 2024
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, 2024, 2023 and 2022, consisted of the following (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2024 |  | 2023 |  | 2022
Cost of sales | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Nonqualified stock options | ​ | $ | 1,229 | ​ | $ | 1,647 | ​ | $ | 1,606
Research and development | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Nonqualified stock options | ​ | ​ | 1,522 | ​ | ​ | 1,739 | ​ | ​ | 1,789
Selling, general and administrative | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Nonqualified stock options | ​ | ​ | 6,206 | ​ | ​ | 7,542 | ​ | ​ | 7,305
Performance-based restricted stock units | ​ | ​ | 12,517 | ​ | ​ | 6,344 | ​ | ​ | 3,509
Restricted stock units | ​ | ​ | 4,279 | ​ | ​ | 1,771 | ​ | ​ | 1,836
Cash-settled performance-based awards | ​ | ​ | 2,720 | ​ | ​ | 2,290 | ​ | ​ | 1,997
Total selling, general and administrative | ​ | ​ | 25,722 | ​ | ​ | 17,947 | ​ | ​ | 14,647
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Stock-based compensation expense before taxes | ​ | $ | 28,473 | ​ | $ | 21,333 | ​ | $ | 18,042
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 and 2022:
​ | ​ | ​ | ​ | ​
​ |  | 2023 |  | 2022
Risk-free interest rate | ​ | 3.6% - 4.8% | ​ | 1.4% - 4.3%
Expected option term | ​ | 4.0 years | ​ | 4.0 years
Expected dividend yield | ​ | — | ​ | —
Expected price volatility | ​ | 39.6% - 47.1% | ​ | 46.2% - 47.5%
Schedule of Share-based Compensation, Stock Option Activity | The table below presents information related to stock option activity for the years ended December 31, 2024, 2023 and 2022 (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2024 |  | 2023 |  | 2022
Total intrinsic value of stock options exercised | ​ | $ | 36,431 | ​ | $ | 23,300 | ​ | $ | 27,110
Cash received from stock option exercises | ​ |  | 39,746 | ​ |  | 14,503 | ​ |  | 18,952
Excess tax benefit from the exercise of stock options | ​ |  | 1,817 | ​ |  | 3,001 | ​ |  | 3,423
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, 2024, 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 |  | 2,868 | ​ |  | 56.39 |  |  |  | ​ |
Granted |  | — | ​ |  | — |  |  |  | ​ |
Exercised |  | (824) | ​ |  | 48.21 |  |  |  | ​ |
Forfeited/expired |  | (21) | ​ |  | 66.61 |  |  |  | ​ |
Outstanding at December 31 |  | 2,023 | ​ |  | 59.62 |  | 3.05 | ​ | $ | 75,055
Exercisable |  | 1,411 | ​ |  | 55.87 |  | 2.35 | ​ |  | 57,639
Ending vested and expected to vest |  | 1,997 | ​ |  | 59.49 |  | 3.02 | ​ |  | 74,372
Schedule of Share-based Compensation, PSUs and RSUs, Activity | Changes in PSUs and RSUs for the year ended December 31, 2024, 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 |  | 355 | ​ |  | 71.15 |  | 20 | ​ |  | 83.99
Granted |  | 287 | ​ |  | 86.79 |  | 329 |  |  | 90.54
Vested |  | (47) | ​ |  | 76.51 |  | (20) |  |  | 83.99
Nonvested balance at December 31 |  | 595 | ​ |  | 82.33 |  | 329 | ​ |  | 90.54
​
| (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%.
Schedule of Share-based Compensation, PSUs and RSUs Granted | The following table summarizes PSUs and RSUs granted during the years ended December 31, 2024, 2023 and 2022 (units and shares in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2024 |  | 2023 |  | 2022 |
PSUs | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Target units granted | ​ | ​ | 144 | ​ | ​ | 115 | ​ | ​ | 48 | ​
Maximum units granted (1) | ​ | ​ | 287 | ​ | ​ | 229 | ​ | ​ | 97 | ​
Maximum potential shares (1)(2) | ​ | ​ | 359 | ​ | ​ | 287 | ​ | ​ | 121 | ​
Weighted average grant date fair value | ​ | $ | 86.79 | ​ | $ | 72.26 | ​ | $ | 64.54 | ​
RSUs |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Units granted | ​ | ​ | 329 | ​ | ​ | 20 | ​ | ​ | 31 | ​
Weighted average grant date fair value | ​ | $ | 90.54 | ​ | $ | 83.99 | ​ | $ | 59.02 | ​
​
| (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, 2024, 2023 and 2022:
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2024 |  | 2023 |  | 2022
Risk-free interest rate |  | 4.4% | ​ | 3.9% - 4.6% | ​ | 1.6% - 2.7%
Performance period |  | 2.8 years | ​ | 2.8 years | ​ | 2.6 - 2.8 years
Expected dividend yield |  | — | ​ | — | ​ | —
Expected price volatility |  | 31.1% | ​ | 31.4% - 32.6% | ​ | 38.5% - 46.2%

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- 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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