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STOCK-BASED COMPENSATION (Tables) | 12 Months Ended
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Dec. 31, 2022
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 | 2022 |  | 2021 |  | 2020
Cost of goods sold | 549 |  |  | 470 |  |  | 344 |
Research and development | 1,739 |  |  | 1,644 |  |  | 1,471 |
Selling, general and administrative | $ | 25,437 |  |  | $ | 34,096 |  |  | $ | 17,776 |
Total stock-based compensation expense | 27,725 |  |  | 36,210 |  |  | 19,591 |
Total estimated tax benefit related to stock-based compensation expense | 10,574 |  |  | 13,804 |  |  | 6,221 |
Net effect on net income | $ | 17,151 |  |  | $ | 22,406 |  |  | $ | 13,370 |
Summary Of Weighted-Average Assumptions | The following weighted-average assumptions were used in the calculation of fair value:
| Years Ended December 31,
| 2022 |  | 2021 |  | 2020
Dividend yield | 0% |  | 0% |  | 0%
Expected volatility | 30% |  | 29% |  | 27%
Risk free interest rate | 2.01% |  | 1.30% |  | 0.89%
Expected life of option from grant date | 7 years |  | 7 years |  | 7 years
Weighted average grant date fair value of options granted | $23.15 |  | $22.59 |  | $13.03
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, 2022 | 1,225 |  |  | $ | 45.11 |  |  | 4.30 |  | $26,970
Granted | 146 |  |  | 65.11 |  |  | — |  |  | — |
Exercised | (155) |  |  | 28.32 |  |  | — |  |  | — |
Forfeited or Expired | (14) |  |  | 50.68 |  |  | — |  |  | — |
Outstanding at December 31, 2022 | 1,202 |  |  | $ | 49.63 |  |  | 4.14 |  | $ | 10,772 |
Exercisable at December 31, 2022 | 871 |  |  | $ | 45.82 |  |  | 3.30 |  | $ | 9,635 |
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, 2022.
| 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, 2022 | 422 |  |  | $ | 58.78 |  |  | 442 |  |  | 60.62 |
Granted | 334 |  |  | 62.88 |  |  | 245 |  |  | 62.89 |
Adjustments for performance achievement related to award target | — |  |  | — |  |  | (18) |  |  | 60.76 |
Cancellations | (34) |  |  | 62.29 |  |  | (10) |  |  | 59.88 |
Released | (239) |  |  | 58.27 |  |  | (252) |  |  | 59.38 |
Unvested, December 31, 2022 | 483 |  |  | $ | 61.63 |  |  | 407 |  |  | 62.88 |

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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 https://asc.fasb.org/extlink&oid=128089324&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 https://asc.fasb.org/extlink&oid=128089324&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 https://asc.fasb.org/extlink&oid=128089324&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 https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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