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Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2019
Stock-Based Compensation Expense Related to Stock Options, PSUs, RSUs and Restricted Stock | The following table summarizes stock-based compensation expense related to stock options, PSUs, RSUs and restricted stock for the years ended December 31, 2019, 2018 and 2017, which was recognized as follows:
(In thousands) |  | 2019 |  |  | 2018 |  |  | 2017 |
Stock-based compensation expense included in cost of sales |  | $ | 369 |  |  | $ | 418 |  |  | $ | 379 |
Selling, general and administrative expense |  |  | 3,889 |  |  |  | 3,989 |  |  |  | 4,063 |
Research and development expense |  |  | 2,704 |  |  |  | 2,748 |  |  |  | 2,991 |
Stock-based compensation expense included in operating expenses |  |  | 6,593 |  |  |  | 6,737 |  |  |  | 7,054 |
Total stock-based compensation expense |  |  | 6,962 |  |  |  | 7,155 |  |  |  | 7,433 |
Tax benefit for expense associated with non-qualified options, PSUs, RSUs and restricted stock |  |  | (1,659 | ) |  |  | (1,432 | ) |  |  | (1,699 | )
Total stock-based compensation expense, net of tax |  | $ | 5,303 |  |  | $ | 5,723 |  |  | $ | 5,734 |
Summary of PSUs, RSUs and Restricted Stock Outstanding | The following table is a summary of our PSUs, RSUs and restricted stock outstanding as of December 31, 2018 and 2019 and the changes that occurred during 2019:
(In thousands, except per share amounts) |  | Number of shares |  |  | Weighted Average Grant Date Fair Value |
Unvested PSUs, RSUs and restricted stock outstanding, December 31, 2018 |  |  | 1,570 |  |  | $ | 18.52 |
PSUs, RSUs and restricted stock granted |  |  | 897 |  |  | $ | 9.63 |
PSUs, RSUs and restricted stock vested |  |  | (368 | ) |  | $ | 17.23 |
PSUs, RSUs and restricted stock forfeited |  |  | (208 | ) |  | $ | 18.24 |
Unvested PSUs, RSUs and restricted stock outstanding, December 31, 2019 |  |  | 1,891 |  |  | $ | 14.58 |
Summary of Stock Options Outstanding | The following table is a summary of our stock options outstanding as of December 31, 2019 and 2018 and the changes that occurred during 2019:
|  | Number of Options (in thousands) |  |  | Weighted Average Exercise Price (per share) |  |  | Weighted Avg. Remaining Contractual Life in Years |  |  | Aggregate Intrinsic Value (in thousands) |
Stock options outstanding, December 31, 2018 |  |  | 4,382 |  |  | $ | 22.91 |  |  |  | 4.10 |  |  | $ | — |
Stock options granted |  |  | — |  |  | $ | — |  |  |  |  |  |  |  |  |
Stock options exercised |  |  | (34 | ) |  | $ | 15.53 |  |  |  |  |  |  |  |  |
Stock options forfeited |  |  | (32 | ) |  | $ | 15.56 |  |  |  |  |  |  |  |  |
Stock options expired |  |  | (744 | ) |  | $ | 23.72 |  |  |  |  |  |  |  |  |
Stock options outstanding, December 31, 2019 |  |  | 3,572 |  |  | $ | 22.88 |  |  |  | 3.40 |  |  | $ | — |
Stock options exercisable, December 31, 2019 |  |  | 3,570 |  |  | $ | 22.89 |  |  |  | 3.40 |  |  | $ | — |
Stock Options Outstanding | The following table further describes our stock options outstanding as of December 31, 2019:
|  | Options Outstanding |  |  | Options Exercisable |
Range of Exercise Prices |  | Options Outstanding at December 31, 2019 (In thousands) |  |  | Weighted Avg. Remaining Contractual Life in Years |  |  | Weighted Average Exercise Price |  |  | Options Exercisable at December 31, 2019 (In thousands) |  |  | Weighted Average Exercise Price |
$14.88 – $18.96 |  |  | 1,135 |  |  |  | 4.90 |  |  | $ | 15.89 |  |  |  | 1,133 |  |  | $ | 15.89 |
$18.97 – $23.45 |  |  | 685 |  |  |  | 4.70 |  |  | $ | 19.10 |  |  |  | 685 |  |  | $ | 19.10 |
$23.46 – $30.35 |  |  | 686 |  |  |  | 3.67 |  |  | $ | 24.17 |  |  |  | 686 |  |  | $ | 24.17 |
$30.36 – $41.92 |  |  | 1,066 |  |  |  | 1.29 |  |  | $ | 31.93 |  |  |  | 1,066 |  |  | $ | 31.93 |
|  |  | 3,572 |  |  |  |  |  |  |  |  |  |  |  | 3,570 |  |  |  |  |
Market-Based PSUs [Member] |
Summary of Weighted-Average Assumptions and Value of Options Granted | The following table details the significant assumptions that impact the fair value estimate of the market-based PSUs:
|  | 2019 |  | 2018 |  |  | 2017 |
Estimated fair value per share |  | $9.53 to $18.05 |  | $ | 16.59 |  |  | $ | 24.17 |
Expected volatility |  | 32.7% to 38.9% |  | 27.98% to 31.58% |  |  |  | 27.03 | %
Risk-free interest rate |  | 1.6% to 2.46% |  | 2.11% to 2.99% |  |  |  | 1.78 | %
Expected dividend yield |  | 2.3% to 4.09% |  | 1.83% to 2.49% |  |  |  | 1.74 | %

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