XML 58 R42.htm IDEA: XBRL DOCUMENT v3.20.4

Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement [Abstract]

Stock-Based Compensation Expense

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

			Year Ended December 31,
(In thousands)			2020						2019						2018
Cost of sales			$	182					$	139					$	84
Research and development expenses			1,099						1,096						744
Selling, general and administrative expenses:
Employees			6,257						6,431						6,491
Outside directors			1,584						1,179						1,501
Total employee and director stock-based compensation expense			$	9,122					$	8,845					$	8,820
Income tax benefit			$	1,594					$	1,877					$	1,870

Assumptions Used and Weighted Average Fair Value of Stock Option Grants

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,
			2020						2019						2018
Weighted average fair value of grants			$	17.70					$	11.51					$	14.26
Risk-free interest rate			1.44		%				2.38		%				2.51		%
Expected volatility			43.95		%				41.73		%				33.09		%
Expected life in years			4.59						4.60						4.53

Stock Option Activity

Stock option activity was as follows:

			2020																								2019																								2018
			Number of Options (in 000's)						Weighted-Average Exercise Price						Weighted-Average Remaining Contractual Term (in years)						Aggregate Intrinsic Value (in 000's)						Number of Options (in 000's)						Weighted-Average Exercise Price						Weighted-Average Remaining Contractual Term (in years)						Aggregate Intrinsic Value (in 000's)						Number of Options (in 000's)						Weighted-Average Exercise Price						Weighted-Average Remaining Contractual Term (in years)						Aggregate Intrinsic Value (in 000's)
Outstanding at beginning of the year			745						$	41.73																	597						$	44.27																	520						$	42.56
Granted			109						46.17																		170						30.08																		119						44.95
Exercised			(80)						35.28												$	1,334					(22)						20.34												$	569					(35)						24.67												$	744
Forfeited/canceled/expired			—						—																		—						—																		(7)						27.74
Outstanding at end of the year (1)			774						$	43.01					3.71						$	9,228					745						$	41.73					3.97						$	9,798					597						$	44.27					4.08						$	758
Vested and expected to vest at the end of the year (1)			774						$	43.01					3.71						$	9,228					745						$	41.73					3.97						$	9,798					597						$	44.27					4.08						$	758
Exercisable at the end of the year (1)			582						$	43.90					2.98						$	6,887					517						$	44.95					3.01						$	5,636					430						$	42.30					3.43						$	758

(1)The aggregate intrinsic value represents the total pre-tax value (the difference between our closing stock price on the last trading day of 2020, 2019, and 2018 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, 2020, 2019, and 2018. This amount will change based on the fair market value of our stock.

Significant Option Groups Outstanding and Related Weighted Average Exercise Price and Life Information

Significant option groups outstanding at December 31, 2020 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  Contractual Term (in years)						Weighted-Average Exercise Price						Number Exercisable (in 000's)						Weighted-Average Exercise Price
$19.25 to $27.07						263						3.72						$	23.83					200						$	22.82
$35.28 to $46.17						229						5.44						45.47						113						44.84
$51.38 to $65.54						282						2.61						58.85						269						59.15
						774						3.71						$	43.01					582						$	43.90

Non-Vested Restricted Stock Awards Activity

Non-vested restricted stock award activity was as follows:

			2020												2019												2018
			Shares (in 000's)						Weighted-Average Grant Date Fair Value						Shares (in 000's)						Weighted-Average Grant Date Fair Value						Shares (in 000's)						Weighted-Average Grant Date Fair Value
Non-vested at beginning of the year			310						$	34.99					204						$	49.23					162						$	61.19
Granted			238						36.85						268						30.67						167						42.65
Vested			(166)						38.28						(141)						47.26						(109)						56.16
Forfeited			(8)						43.44						(21)						35.78						(16)						54.16
Non-vested at end of the year			374						$	34.53					310						$	34.99					204						$	49.23

Detailed Information Regarding Active Stock Incentive Plans

Detailed information regarding our active Stock Incentive Plans was as follows at December 31, 2020:

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
2003 Stock Incentive Plan						6/18/2003						1,000,000						—						14,391
2006 Stock Incentive Plan						6/13/2006						1,000,000						—						25,275
2010 Stock Incentive Plan						6/15/2010						1,000,000						—						123,131
2014 Stock Incentive Plan						6/12/2014						1,100,000						—						357,860
2018 Equity and Incentive Compensation Plan						6/4/2018						1,000,000						223,199						627,545
																		223,199						1,148,202

X

- References

No definition available.

+ Details

Name:	us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of share-based payment arrangement.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

+ Details

Name:	us-gaap_DisclosureOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

+ 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 (h)(1)
-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 S99
-Paragraph 1
-Subparagraph (SAB Topic 14.F)
-URI http://asc.fasb.org/extlink&oid=115993241&loc=d3e301413-122809

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901

+ Details

Name:	us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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.

+ 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
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

+ Details

Name:	us-gaap_ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year.

+ References

No definition available.

+ Details

Name:	us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration