Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2014

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:



	Three Months Ended June 30,				Six Months Ended June 30,
(In thousands)	2014		2013		2014		2013
Cost of sales	$	4	$	—	$	8	$	—
Research and development	100		55		201		112
Selling, general and administrative:
Employees	1,253		1,149		2,611		2,258
Outside directors	216		96		431		191
Total stock-based compensation expense	$	1,573	$	1,300	$	3,251	$	2,561

Income tax benefit	$	454	$	383	$	944	$	742

Schedule of Stock Option Activity

Stock option activity was as follows:



	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 December 31, 2013	924		$	22.04
Granted	133		35.28
Exercised	(242	)	19.25			$	5,534
Forfeited/canceled/expired	(15	)	21.09
Outstanding at June 30, 2014 ⁽¹⁾	800		$	22.86	6.09	$	20,825
Vested and expected to vest at June 30, 2014 ⁽¹⁾	800		$	22.87	6.09	$	20,799
Exercisable on June 30, 2014 ⁽¹⁾	514		$	24.12	5.29	$	12,721

⁽¹⁾

The aggregate intrinsic value represents the total pre-tax value (the difference between our closing stock price on the last trading day of the second quarter of 2014 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 June 30, 2014. This amount will change based on the fair market value of our stock.

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:



	Three Months Ended June 30,						Six Months Ended June 30,
	2014			2013			2014			2013
Weighted average fair value of grants ⁽¹⁾	$	—		$	10.04		$	13.64		$	9.26
Risk-free interest rate	—		%	0.73		%	1.29		%	0.95		%
Expected volatility	—		%	52.38		%	44.84		%	53.39		%
Expected life in years	0.00			5.20			4.56			5.20


⁽¹⁾	The weighted average fair value of grants was calculated utilizing the stock options granted during each respective period.

Schedule of Non-vested Restricted Stock Awards Activity

Non-vested restricted stock award activity was as follows:



	Shares Granted (in 000’s)		Weighted-Average Grant Date Fair Value
Non-vested at December 31, 2013	285		$	24.64
Granted	52		35.28
Vested	(65	)	24.20
Forfeited	(3	)	37.78
Non-vested at June 30, 2014	269		$	26.63