XML 57 R42.htm IDEA: XBRL DOCUMENT v3.6.0.2
EMPLOYEE BENEFIT PLANS (Tables)
 12 Months Ended
Dec. 31, 2016
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, 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

 
 
 
 
Granted
82,400

 
$182.75 - $182.75
 
$
182.75

 
 
 
 
Exercised
(29,285
)
 
$36.48 - $201.04
 
$
112.78

 
 
 
 
Canceled or expired
(13,034
)
 
$193.69 - $201.04
 
$
195.78

 
 
 
 
Outstanding at December 31, 2016
440,158

 
$36.48 - $201.04
 
$
132.08

 
6.54
 
$
26,086

 
 
 
 
 
 
 
 
 
 
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

 
 
 
 
Exercisable at December 31, 2016
284,489

 
$36.48 - $201.04
 
$
100.94

 
5.44
 
$
25,613
Summarized information regarding options outstanding
The following table summarizes information regarding options outstanding at December 31, 2016:

 
 
 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
 
54,885

 
3.06
 
$
41.26

 
54,885

 
$
41.26

$42.51 - $58.06
 
42,156

 
4.14
 
$
56.53

 
42,156

 
$
56.53

$58.07 - $59.59
 
42,175

 
5.14
 
$
58.95

 
42,175

 
$
58.95

$59.60 - $81.19
 
2,320

 
4.42
 
$
60.23

 
2,320

 
$
60.23

$81.20 - $142.45
 
71,922

 
6.19
 
$
102.16

 
71,922

 
$
102.16

$142.46 - $188.22
 
82,400

 
9.19
 
$
182.75

 
—

 
$
—

$188.23 - $197.37
 
75,500

 
8.17
 
$
193.69

 
25,165

 
$
193.69

$197.38 - $201.04
 
68,800

 
7.16
 
$
201.04

 
45,866

 
$
201.04

$36.48 - $201.04
 
440,158

 
6.54
 
$
132.08

 
284,489

 
$
100.94
Unvested restricted stock awards activity
The following table presents unvested restricted stock awards activity for the year ended December 31, 2016:

 
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, 2015                                      
503,113

 
$
166.42

 
54,960

 
$
211.41

Granted
170,710

 
$
194.77

 
25,680

 
$
184.97

Vested
(227,814
)
 
$
140.14

 
—

 
$
—

Canceled
(51,297
)
 
$
177.72

 
(8,160
)
 
$
211.18

Unvested restricted stock awards at December 31, 2016
394,712

 
$
192.38

 
72,480

 
$
202.07
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,
 
2014
 
2015
 
2016
Dividend yield
0
%
 
0
%
 
0
%
Expected volatility
30
%
 
30
%
 
31
%
Risk-free interest rate
2
%
 
2
%
 
1
%
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,
 
2014
 
2015
 
2016
Dividend yield
0
%
 
0
%
 
0
%
Expected volatility
30
%
 
26
%
 
28
%
Risk-free interest rate
1
%
 
1
%
 
1
%
Expected life (in years)
3

 
3

 
3

Weighted-average grant date fair value
$
216.20

 
$
208.08

 
$
184.97
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, 2016:

 
Number of
Shares
 
Weighted-Average
Grant Date
Fair Value per Share
Unvested restricted stock units at December 31, 2015
1,430

 
$
185.42

Granted
1,110

 
$
180.29

Vested
(371
)
 
$
177.93

Canceled
(970
)
 
$
185.85

Unvested restricted stock units at December 31, 2016
1,199

 
$
182.64