XML 51 R37.htm IDEA: XBRL DOCUMENT
v3.22.0.1

Stock-Based Compensation (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] |
Share-Based Compensation, Restricted Stock Units Award Activity | The number of unvested restricted stock unit awards outstanding as of December 31, 2021 is as follows (1):
|  | Number of awards outstanding |  |  | Weighted- average grant date fair value |  |  | Weighted- average remaining contractual term (years) |  |  | Aggregate intrinsic value (in thousands) (2) |
Balance as of January 1, 2021 |  |  | 724,794 |  |  | $ | 45.68 |  |  |  |  |  |  |  |  |
Awards granted |  |  | 176,655 |  |  |  | 97.80 |  |  |  |  |  |  |  |  |
Awards vested |  |  | (325,095 | ) |  |  | 47.36 |  |  |  |  |  |  |  |  |
Awards forfeited |  |  | (8,315 | ) |  |  | 64.46 |  |  |  |  |  |  |  |  |
Balance at December 31, 2021 |  |  | 568,039 |  |  | $ | 60.65 |  |  |  | 1.4 |  |  | $ | 66,307 |
(1) | Does not include employee stock purchase plans or stock option plans.
(2) | The intrinsic value is calculated as the market value as of the end of the fiscal period. As reported by the NASDAQ Global Select Market, the market value as of December 31, 2021 was $116.73.
Stock Option Activity | Option activity is as follows (1):
|  | Number of shares outstanding |  |  | Weighted- average exercise price |  |  | Weighted- average remaining contractual term (years) |  |  | Aggregate intrinsic value (in thousands) |
Balance at January 1, 2021 |  |  | 418,394 |  |  | $ | 37.29 |  |  |  |  |  |  |  |  |
Options granted |  |  | 33,333 |  |  |  | 94.20 |  |  |  |  |  |  |  |  |
Options forfeited and expired |  |  | — |  |  |  | — |  |  |  |  |  |  |  |  |
Options exercised |  |  | (48,000 | ) |  |  | 23.63 |  |  |  |  |  |  |  |  |
Balance at December 31, 2021 |  |  | 403,727 |  |  | $ | 43.61 |  |  |  | 6.02 |  |  | $ | 29,519 |
Exercisable at December 31, 2021 |  |  | 290,894 |  |  | $ | 33.67 |  |  |  | 5.35 |  |  | $ | 24,163 |
(1) | Does not include restricted stock or employee stock purchase plans.
The Assumptions Used to Value Option Grants | The assumptions used to value option grants for 2021, 2020 and 2019 are as follows:
|  | Stock Option Plan |
|  | Fiscal Years |
|  | 2021 |  |  | 2020 |  |  | 2019 |
Expected term (in years) |  |  | 5.7 |  |  |  | 5.8 |  |  |  | 5.7 |
Risk-free interest rate |  |  | 0.64 | % |  |  | 1.48 | % |  |  | 2.52 | %
Volatility |  |  | 28 | % |  |  | 23 | % |  |  | 23 | %
Dividend yield |  |  | 0 | % |  |  | 0 | % |  |  | 0 | %
Stock-Based Compensation Expense Recognized in Consolidated Statements of Income | The amount of stock-based compensation expense and the related income tax benefit recognized in the Company’s consolidated statements of income for 2021, 2020 and 2019 is as follows:
|  | Fiscal Years |
(In thousands) |  | 2021 |  |  | 2020 |  |  | 2019 |
Compensation and related expenses: |  |  |  |  |  |  |  |  |  |  |  |
Restricted stock units |  | $ | 17,755 |  |  | $ | 15,946 |  |  | $ | 16,320 |
Stock option grants |  |  | 736 |  |  |  | 694 |  |  |  | 583 |
Sub-total |  |  | 18,491 |  |  |  | 16,640 |  |  |  | 16,903 |
General and administrative expenses: |  |  |  |  |  |  |  |  |  |  |  |
Restricted stock units |  |  | 772 |  |  |  | 638 |  |  |  | 563 |
Sub-total |  |  | 772 |  |  |  | 638 |  |  |  | 563 |
Total stock-based compensation expense |  | $ | 19,263 |  |  | $ | 17,278 |  |  | $ | 17,466 |
Income tax benefit |  | $ | 10,009 |  |  | $ | 12,258 |  |  | $ | 8,067 |

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

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 http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 14.F) -URI http://asc.fasb.org/extlink&oid=122041274&loc=d3e301413-122809 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901 + 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 number and weighted-average grant date fair value for restricted stock units 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 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 (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + 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) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
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 http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration