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STOCK-BASED COMPENSATION (Tables) | 12 Months Ended
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Dec. 31, 2021
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,
Dollars in thousands | 2021 |  | 2020 |  | 2019
Cost of goods sold | 470 |  |  | 344 |  |  | 317 |
Research and development | 1,644 |  |  | 1,471 |  |  | 1,785 |
Selling, general and administrative | $ | 34,096 |  |  | $ | 17,776 |  |  | $ | 19,153 |
Total stock-based compensation expense | 36,210 |  |  | 19,591 |  |  | 21,255 |
Total estimated tax benefit related to stock-based compensation expense | 13,804 |  |  | 6,221 |  |  | 9,420 |
Net effect on net income | $ | 22,406 |  |  | $ | 13,370 |  |  | $ | 11,835 |
Summary Of Weighted-Average Assumptions | The following weighted-average assumptions were used in the calculation of fair value:
| Years Ended December 31,
| 2021 |  | 2020 |  | 2019
Dividend yield | 0% |  | 0% |  | 0%
Expected volatility | 29% |  | 27% |  | 28%
Risk free interest rate | 1.30% |  | 0.89% |  | 2.51%
Expected life of option from grant date | 7 years |  | 7 years |  | 7 years
Weighted average grant date fair value of options granted | $22.59 |  | $13.03 |  | $18.74
Summary Of Stock Option Activity | The following table summarizes the Company’s stock option activity.
| Shares |  | Weighted Average Exercise Price |  | Weighted Average Contractual Term in Years |  | Aggregate Intrinsic Value
Stock Options | (In thousands) |  |  |  |  |  | (In thousands)
Outstanding at January 1, 2021 | 1,346 |  |  | $ | 39.25 |  |  | 4.41 |  | $34,560
Granted | 150 |  |  | 68.10 |  |  | — |  |  | — |
Exercised | (230) |  |  | 24.74 |  |  | — |  |  | — |
Forfeited or Expired | (41) |  |  | 51.20 |  |  | — |  |  | — |
Outstanding at December 31, 2021 | 1,225 |  |  | $ | 45.11 |  |  | 4.30 |  | $ | 26,970 |
Exercisable at December 31, 2021 | 858 |  |  | $ | 41.07 |  |  | 3.38 |  | $ | 22,242 |
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, 2021.
| 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, 2021 | 472 |  |  | $ | 50.02 |  |  | 197 |  |  | 47.66 |
Granted | 242 |  |  | 68.31 |  |  | 223 |  |  | 67.91 |
Adjustments for performance achievement related to award target | — |  |  | — |  |  | 96 |  |  | 58.18 |
Cancellations | (78) |  |  | 54.94 |  |  | (152) |  |  | — |
Released | (214) |  |  | 51.63 |  |  | (20) |  |  | 67.84 |
Vested but not released | — |  |  | — |  |  | (289) |  |  | 58.06 |
Unvested, December 31, 2021 | 422 |  |  | $ | 58.78 |  |  | 55 |  |  | 70.74 |

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- 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
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- 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
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