XML 57 R42.htm IDEA: XBRL DOCUMENT v3.3.1.900
EMPLOYEE BENEFIT PLANS (Tables)
12 Months Ended
Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of option activity
Option activity was as follows:
 
 
Number of
Shares
 
Range of
Exercise Price
 
Weighted-
Average
Exercise
Price
 
Weighted-
Average
Remaining
Contract
Life (in years)
 
Aggregate
Intrinsic
Value
(in thousands)
Outstanding at December 31, 2012
673,719

 
$25.00 - $60.23
 
$
45.20

 
 
 
 
Granted
126,800

 
$102.16 - $102.16
 
$
102.16

 
 
 
 
Exercised
(409,799
)
 
$25.00 - $58.95
 
$
41.05

 
 
 
 
Canceled or expired
(16,380
)
 
$36.48 - $58.95
 
$
47.54

 
 
 
 
Outstanding at December 31, 2013
374,340

 
$36.48 - $102.16
 
$
68.94

 
 
 
 
Granted
87,700

 
$201.04 - $201.04
 
$
201.04

 
 
 
 
Exercised
(68,126
)
 
$39.00 - $102.16
 
$
55.81

 
 
 
 
Canceled or expired
(23,735
)
 
$58.95 - $201.04
 
$
124.09

 
 
 
 
Outstanding at December 31, 2014
370,179

 
$36.48 - $201.04
 
$
99.12

 
 
 
 
Granted
89,500

 
$193.69 - $193.69
 
$
193.69

 
 
 
 
Exercised
(59,602
)
 
$36.48 - $201.04
 
$
85.48

 
 
 
 
Outstanding at December 31, 2015
400,077

 
$36.48 - $201.04
 
$
122.30

 
6.98
 
$
33,761

 
 
 
 
 
 
 
 
 
 
Exercisable at December 31, 2013
146,161

 
$36.48 - $60.23
 
$
47.72

 
 
 
 
Exercisable at December 31, 2014
188,656

 
$36.48 - $102.16
 
$
60.54

 
 
 
 
Exercisable at December 31, 2015
220,107

 
$36.48 - $201.04
 
$
77.63

 
5.76
 
$
28,408

Summarized information regarding options outstanding
The following table summarizes information regarding options outstanding at December 31, 2015:

 
 
 Options Outstanding
 
 Options Exercisable
Range of
Exercise Price
 
 Number of
Shares
 
Weighted-Average Remaining Contractual Life (in years)
 
Weighted-
Average
Exercise Price
 
Number of
Shares
 
Weighted-
Average 
Exercise Price
$36.48 - $42.50
 
55,051

 
4.06
 
$
41.25

 
55,051

 
$
41.25

$42.51 - $58.06
 
48,638

 
4.88
 
$
55.94

 
48,638

 
$
55.94

$58.07 - $59.59
 
45,567

 
6.14
 
$
58.95

 
45,567

 
$
58.95

$59.60 - $81.19
 
2,320

 
5.42
 
$
60.23

 
2,320

 
$
60.23

$81.20 - $147.93
 
82,801

 
7.19
 
$
102.16

 
45,599

 
$
102.16

$147.94 - $197.37
 
89,500

 
9.17
 
$
193.69

 

 
$

$197.38 - $201.04
 
76,200

 
8.16
 
$
201.04

 
22,932

 
$
201.04

$36.48 - $201.04
 
400,077

 
6.98
 
$
122.30

 
220,107

 
$
77.63

Unvested restricted stock awards activity
The following table presents unvested restricted stock awards activity without a market condition and performance-based restricted common stock awards activity with a market condition for the year ended December 31, 2015:

 
Restricted Stock Awards — without Market Condition
 
Restricted Stock Awards — with Market Condition
 
Number of
Shares
 
Weighted-Average
Grant Date
Fair Value per Share
 
Number of
Shares
 
Weighted-Average
Grant Date
Fair Value per Share
Unvested restricted stock awards at December 31, 2014                                      
556,793

 
$
126.01

 
22,560

 
$
216.20

Granted
207,442

 
$
201.88

 
32,400

 
$
208.08

Vested
(221,546
)
 
$
102.02

 

 
$

Canceled
(39,576
)
 
$
144.28

 

 
$

Unvested restricted stock awards at December 31, 2015
503,113

 
$
166.42

 
54,960

 
$
211.41

Stock Options [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Fair value assumption for options granted
The Company estimated the fair value of each option granted on the date of grant using the Black-Scholes option-pricing model, using the assumptions in the following table:
 
 
Year Ended December 31,
 
2013
 
2014
 
2015
Dividend yield
0
%
 
0
%
 
0
%
Expected volatility
37
%
 
30
%
 
30
%
Risk-free interest rate
0.9
%
 
1.5
%
 
1.6
%
Expected life (in years)
5

 
5

 
5

Performance-based RSAs - with Market Condition [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Fair value assumption for options granted
The assumptions used to estimate the fair value of performance-based restricted common stock awards with a market condition granted were as follows:
 
Year Ended December 31,
Year Ended December 31,
 
2014
2015
Dividend yield
0
%
0
%
Expected volatility
30
%
26
%
Risk-free interest rate
0.6
%
1.0
%
Expected life (in years)
3

3

Weighted-average grant date fair value
$
216.20

$
208.08

Restricted Stock Units (RSUs) [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Unvested restricted stock awards activity
The following table presents unvested restricted stock units activity for the year ended December 31, 2015:

 
Number of
Shares
 
Weighted-Average
Grant Date
Fair Value per Share
Unvested restricted stock units at December 31, 2014
887

 
$
169.16

Granted
543

 
$
211.98

Vested

 
$

Canceled

 
$

Unvested restricted stock units at December 31, 2015
1,430

 
$
185.42