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STOCK-BASED COMPENSATION (Tables) | 12 Months Ended
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Dec. 31, 2023
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 | 2023 |  | 2022 |  | 2021
Cost of goods sold | 588 |  |  | 549 |  |  | 470 |
Research and development | 2,071 |  |  | 1,739 |  |  | 1,644 |
Selling, general and administrative | $ | 17,483 |  |  | $ | 25,437 |  |  | $ | 34,096 |
Total stock-based compensation expense | 20,142 |  |  | 27,725 |  |  | 36,210 |
Total estimated tax benefit related to stock-based compensation expense | 5,223 |  |  | 10,574 |  |  | 13,804 |
Net effect on net income | $ | 14,919 |  |  | $ | 17,151 |  |  | $ | 22,406 |
Summary Of Weighted-Average Assumptions | The following weighted-average assumptions were used in the calculation of fair value:
| Years Ended December 31,
| 2023 |  | 2022 |  | 2021
Dividend yield | 0% |  | 0% |  | 0%
Expected volatility | 30% |  | 30% |  | 29%
Risk free interest rate | 3.86% |  | 2.01% |  | 1.30%
Expected life of option from grant date | 7 years |  | 7 years |  | 7 years
Weighted average grant date fair value of options granted | $21.58 |  | $23.15 |  | $22.59
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, 2023 | 1,202 |  |  | $ | 49.63 |  |  | 4.14 |  | $10,772
Granted | 151 |  |  | 52.87 |  |  | — |  |  | — |
Exercised | (93) |  |  | 34.59 |  |  | — |  |  | — |
Forfeited or Expired | (82) |  |  | 58.02 |  |  | — |  |  | — |
Outstanding at December 31, 2023 | 1,178 |  |  | $ | 50.64 |  |  | 3.65 |  | $ | 1,766 |
Exercisable at December 31, 2023 | 888 |  |  | $ | 48.43 |  |  | 2.75 |  | $ | 1,762 |
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, 2023.
| 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, 2023 | 483 |  |  | $ | 61.63 |  |  | 407 |  |  | 62.88 |
Granted | 411 |  |  | 51.01 |  |  | 229 |  |  | 52.29 |
Adjustments for performance achievement related to award target | — |  |  | — |  |  | (78) |  |  | 62.26 |
Cancellations | (99) |  |  | 60.17 |  |  | (77) |  |  | 63.74 |
Released | (211) |  |  | 58.85 |  |  | (146) |  |  | 60.14 |
Unvested, December 31, 2023 | 584 |  |  | $ | 55.37 |  |  | 335 |  |  | 57.53 |

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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 -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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