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Stock-Based Incentive Plans (Tables)

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Schedule of Allocation of Share Based Compensation Costs by Expense Category

Amounts of stock-based compensation recognized on our consolidated statements of income (loss), by expense category, are as follows (in thousands):

						Year Ended December 31,
						2021						2020						2019
Cost of goods sold						$	2,451					$	1,898					$	1,343
Selling, general and administrative						29,449						29,661						25,588
Research and development						8,664						3,530						5,622
Total stock-based compensation expense						40,564						35,089						32,553
Income tax benefit						588						992						6,590
Total expense, net of income tax benefit						$	39,976					$	34,097					$	25,963

Schedule of Allocation of Share-Based Compensation Costs by Type of Arrangement

Amounts of stock-based compensation expense recognized on our consolidated statements of income (loss), by type of arrangement, are as follows (in thousands):

						Year Ended December 31,
						2021						2020						2019
Service-based restricted stock units						$	19,614					$	18,320					$	14,113
Service-based stock appreciation rights						12,489						12,715						10,349
Market performance-based restricted stock units						3,522						3,200						2,900
Operating performance-based restricted stock units						3,434						(370)						3,918
Employee stock purchase plan						1,505						1,224						1,273
Total stock-based compensation expense from continuing operations						$	40,564					$	35,089					$	32,553

Schedule of Stock-Based Compensation Costs Unrecognized

Amounts of stock-based compensation cost not yet recognized related to non-vested awards, including awards assumed or issued, as of December 31, 2021, are as follows (in thousands):

						Unrecognized Compensation Cost						Weighted Average Remaining Vesting Period (in years)
Service-based stock appreciation rights						$	25,025					2.59
Service-based restricted stock unit awards						35,770						2.46
Performance-based restricted stock unit awards						11,208						2.03
Total stock-based compensation cost unrecognized						$	72,003					2.36

Schedule of Stock Options Valuation Assumptions

The following table lists the assumptions we utilized as inputs to the Black-Scholes model:

						Year Ended December 31,
						2021												2020												2019
Dividend yield (1)						—												—												—
Risk-free interest rate (2)						1.0%												0.4%												1.4		%	-			2.2		%
Expected option term - in years (3)						5.6												5.4												5.0			-			5.1
Expected volatility at grant date (4)						42.1%												39.5%												32.2		%	-			35.7		%

(1)We have not paid dividends and no future dividends have been approved. 

(2)We use yield rates on U.S. Treasury securities for a period that approximates the expected term of the awards granted to estimate the risk-free interest rate.

(3)We estimated the expected term of the awards granted using historic data of actual time elapsed between the date of grant and the exercise or forfeiture of options or SARs for employees.

(4)We determine the expected volatility of the awards based on historical volatility.

Schedule of Stock Option Activity

The following tables detail the activity for service-based SARs and stock option awards:

SARs and Stock Options						Number of Optioned Shares						Wtd. Avg. Exercise Price per Share						Wtd. Avg. Remaining Contractual Term (years)						Aggregate Intrinsic Value (in thousands) (1)
Outstanding — at December 31, 2020						2,884,020						$	63.20
Granted						594,617						$	73.25
Exercised						(424,122)						$	52.95
Forfeited						(291,534)						$	62.36
Expired						(128,608)						$	88.67
Outstanding — at December 31, 2021						2,634,373						$	65.94					7.2						$	61,693
Fully vested and exercisable — end of year						1,154,459						$	68.18					5.6						$	25,149
Fully vested and expected to vest — end of year (2)						2,579,659						$	66.01					7.1						$	60,305

(1)The aggregate intrinsic value of SARs and options is based on the difference between the fair market value of the underlying stock at December 31, 2021, using the market closing stock price, and exercise price for in-the-money awards.

(2)Includes the impact of expected future forfeitures.

						Year Ended December 31,
						2021						2020						2019
Weighted average grant date fair value of SARs granted during the year (per share)						$	29.22					$	15.73					$	31.22
Aggregate intrinsic value of SARs and stock options exercised during the year (in thousands)						$	12,223					$	773					$	2,064

Summary of Restricted Stock Service-Based Activity

The following tables detail the activity for service-based RSU awards:

RSUs						Number of Shares						Wtd. Avg. Grant Date Fair Value
Non-vested shares at December 31, 2020						848,459						$	58.00
Granted						363,372						$	74.17
Vested						(279,064)						$	61.82
Forfeited						(141,610)						$	55.85
Non-vested shares at December 31, 2021						791,157						$	64.53

						Year Ended December 31,
						2021						2020						2019
Weighted average grant date fair value of service-based RSUs issued during the year (per share)						$	74.17					$	44.28					$	92.54
Aggregate fair value of RSUs that vested during the year (in thousands)						$	21,501					$	13,674					$	12,710

Summary of Performance-Based Restricted Stock and Restricted Stock Unit Activity

The following tables detail the activity for performance-based and market-based RSU awards:

Performance-based and market-based RSUs						Number of Shares						Wtd. Avg. Grant Date Fair Value
Non-vested shares at December 31, 2020						380,799						$	56.55
Granted						123,956						$	89.29
Vested						(107,455)						$	67.09
Forfeited						(51,356)						$	28.42
Non-vested shares at December 31, 2021						345,944						$	68.36

						Year Ended December 31,
						2021						2020						2019
Weighted average grant date fair value of performance and market-based restricted share units granted during the year (per share)						$	89.29					$	41.70					$	98.50
Aggregate fair value of performance and market-based restricted share units that vested during the year (in thousands)						$	8,268					$	4,106					$	6,697

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