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STOCK-BASED COMPENSATION (Tables)

12 Months Ended

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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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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