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STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement [Abstract]

Summary Of Employee Stock-Based Compensation Expense

Stock-based compensation expense - all related to employees and members of the Board of Directors - recognized under the authoritative guidance was as follows:

			Years Ended December 31,
			2020						2019						2018
			(In thousands)
Cost of goods sold			344						317						449
Research and development			1,471						1,785						1,609
Selling, general and administrative			$	17,776					$	19,153					$	18,721
Total stock-based compensation expense			19,591						21,255						20,779
Total estimated tax benefit related to stock-based compensation expense			6,221						9,420						10,430
Net effect on net income			$	13,370					$	11,835					$	10,349

Summary Of Weighted-Average Assumptions

The following weighted-average assumptions were used in the calculation of fair value:

			Years Ended December 31,
			2020						2019						2018
Dividend yield			0%						0%						0%
Expected volatility			27%						28%						28%
Risk free interest rate			0.89%						2.51%						2.79%
Expected life of option from grant date			7 years						7 years						8 years
Weighted average grant date fair value of options granted			$13.03						$18.74						$21.78

Summary Of Stock Option Activity

The following table summarizes the Company’s stock option activity.

									Weighted Average Exercise Price						Weighted Average Contractual Term in Years						Aggregate Intrinsic Value
			Shares
Stock Options			(In thousands)																											(In thousands)
Outstanding at January 1, 2020			1,284						$	34.83					—						—
Granted			349						43.39						—						—
Exercised			(236)						19.20						—						—
Forfeited or Expired			(51)						49.12						—						—
Outstanding at December 31, 2020			1,346						$	39.25					4.41						$	34,560
Exercisable at December 31, 2020			881,261						$	35.19					3.20						$	26,197

Summary Of Restricted Stock, Performance Stock, and Contract Stock Activity

The following table summarizes the Company’s awards of restricted stock, performance stock and contract stock for the year ended December 31, 2020.

			Restricted Stock Awards												Performance Stock and Contract Stock Awards
			Shares						Weighted Average Grant Date Fair Value Per Share						Shares						Weighted Average Grant Date Fair Value Per Share
						(In thousands)																					(In thousands)
Unvested, January 1, 2020						460												$	54.31								192						55.38
Granted			286						44.78						234						43.63
Adjustments for performance achievement related to award target			—						—						14						51.93
Cancellations			(42)						50.11						(31)						—
Released			(232)						52.07						(157)						43.48
Vested but not released			—						—						(55)						51.84
Unvested, December 31, 2020			472						$	50.02					197						47.66

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Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit.

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Tabular disclosure of activity for award under share-based payment arrangement. Includes, but is not limited to, outstanding award at beginning and end of year, granted, exercised, forfeited, and weighted-average grant date fair value.

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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.

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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.

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