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Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Stock-based Compensation Expense

Stock-based compensation expense by income statement caption and the related income tax benefit were as follows:

	Year Ended December 31,
(In thousands)	2015				2014				2013
Cost of sales	$	39			$	16			$	1
Research and development	428				323				226
Selling, general and administrative:
Employees	5,946				4,927				4,494
Outside directors	1,500				1,178				621
Total stock-based compensation expense	$	7,913			$	6,444			$	5,342
Income tax benefit	$	2,366			$	1,897			$	1,575

Schedule of Black Scholes Assumptions

The assumptions we utilized in the Black-Scholes option pricing model and the resulting weighted average fair value of stock option grants were the following:

	Year Ended December 31,
	2015				2014				2013
Weighted average fair value of grants	$	24.47			$	13.64			$	9.26
Risk-free interest rate	1.39		%		1.29		%		0.95		%
Expected volatility	43.36		%		44.84		%		53.39		%
Expected life in years	4.57				4.56				5.20

Schedule of Stock Option Activity

Stock option activity was as follows:

	2015										2014										2013
	Number of Options (in 000's)		Weighted-Average Exercise Price			Weighted-Average Remaining Contractual Terms (in years)	Aggregate Intrinsic Value (in 000's)				Number of Options (in 000's)		Weighted-Average Exercise Price			Weighted-Average Remaining Contractual Terms (in years)	Aggregate Intrinsic Value (in 000's)				Number of Options (in 000's)		Weighted-Average Exercise Price			Weighted-Average Remaining Contractual Terms (in years)	Aggregate Intrinsic Value (in 000's)
Outstanding at beginning of the year	650		$	25.56							924		$	22.04							1,412		$	20.56
Granted	77		64.81								133		35.28								201		19.68
Exercised	(71	)	23.97				$	2,193			(391	)	20.76				$	10,651			(679	)	18.22				$	8,355
Forfeited/canceled/expired	(8	)	20.64								(16	)	20.77								(10	)	24.75
Outstanding at end of the year (1)	648		$	30.50		4.85	$	14,556			650		$	25.56		5.59	$	25,653			924		$	22.04		6.09	$	14,854
Vested and expected to vest at the end of the year (1)	648		$	30.50		4.85	$	14,551			649		$	25.57		5.58	$	25,618			921		$	22.05		6.08	$	14,791
Exercisable at the end of the year (1)	493		$	25.03		4.51	$	12,979			421		$	23.84		4.87	$	17,345			671		$	22.62		5.14	$	10,388

⁽¹⁾  The aggregate intrinsic value represents the total pre-tax value (the difference between our closing stock price on the last trading day of 2015, 2014, and 2013 and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holders had they all exercised their options on December 31, 2015, 2014, and 2013. This amount will change based on the fair market value of our stock.

Schedule of Exercise Price Range

Significant option groups outstanding at December 31, 2015 and the related weighted average exercise price and life information were as follows:

		Options Outstanding									Options Exercisable
Range of Exercise Prices		Number Outstanding (in 000’s)			Weighted-Average Remaining Years of Contractual Life		Weighted-Average Exercise Price				Number Exercisable (in 000’s)			Weighted-Average Exercise Price
$17.60 to $21.95		279			5.32		$	20.23			257			$	20.26
24.91 to 29.25		163			3.26		27.99				163			27.99
35.28 to 35.35		128			5.05		35.28				73			35.28
51.38 to 65.54		78			6.17		64.81				—			—
		648			4.85		$	30.50			493			$	25.03

Schedule of Non-vested Restricted Stock Awards Activity

Non-vested restricted stock award activity was as follows:

	2015						2014						2013
	Shares Granted (in 000’s)			Weighted-Average Grant Date Fair Value			Shares Granted (in 000’s)			Weighted-Average Grant Date Fair Value			Shares Granted (in 000’s)			Weighted-Average Grant Date Fair Value
Non-vested at beginning of the year	266			39.28			285			24.64			270			$	18.72
Granted	138			53.64			155			51.29			196			28.86
Vested	(178	)		35.09			(171	)		25.78			(178	)		20.44
Forfeited	(1	)		63.19			(3	)		37.78			(3	)		15.49
Non-vested at end of the year	225			51.31			266			39.28			285			24.64

Schedule of Information Regarding Stock Incentive Plans

Detailed information regarding our active Stock Incentive Plans was as follows at December 31, 2015:

Name		Approval Date		Initial Shares Available for Grant Under the Plan			Remaining Shares Available for Grant Under the Plan			Outstanding Shares Granted Under the Plan
1998 Stock Incentive Plan		5/27/1998		630,000			—			3,400
1999A Stock Incentive Plan		10/7/1999		1,000,000			—			20,500
2002 Stock Incentive Plan		2/5/2002		1,000,000			—			480
2003 Stock Incentive Plan		6/18/2003		1,000,000			—			63,241
2006 Stock Incentive Plan		6/13/2006		1,000,000			—			196,357
2010 Stock Incentive Plan		6/15/2010		1,000,000			13,219			379,673
2014 Stock Incentive Plan		6/12/2014		1,100,000			821,820			209,180
							835,039			872,831

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Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

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Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms.

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