XML 55 R40.htm IDEA: XBRL DOCUMENT v3.3.1.900
Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Stock Option Activity
Stock option activity under the Equity Compensation Plans is summarized as follows:
 
Number of shares outstanding
 
Weighted average exercise price per share
 
Weighted average remaining contractual life (years)
 
Aggregate
intrinsic
value (1) 
(dollars in thousands)
Stock options outstanding at December 31, 2012
296,529

 
$
68.68

 
 
 
 
Stock options exercised
(147,819
)
 
63.66

 
 
 
 
Stock options canceled
(655
)
 
3.06

 
 
 
 
Stock options outstanding at December 31, 2013
148,055

 
73.99

 
 
 
 
Stock options exercised
(71,780
)
 
72.44

 
 
 
 
Additional shares granted due to special distribution
1,659

 
—

 
 
 
 
Stock options outstanding at December 31, 2014
77,934

 
73.84

 
 
 
 
Stock options exercised
(41,889
)
 
64.18

 
 
 
 
Additional shares granted due to special distribution
1,454

 
—

 
 
 
 
Stock options expired
(250
)
 
41.12

 
 
 
 
Stock options outstanding at December 31, 2015
37,249

 
82.06

 
1.72
 
$
8,208

Stock options vested and exercisable at December 31, 2015
37,249

 
82.06

 
1.72
 
8,208

__________________________
(1)
The aggregate intrinsic value is calculated as the difference between the market value of the stock as of December 31, 2015 and the exercise price of the option.
Schedule of Outstanding Stock Options
The following table summarizes information about outstanding stock options as of December 31, 2015:
 
Outstanding
 
Exercisable
Range of exercise prices
Number of shares
 
Weighted average remaining contractual life (years)
 
Weighted-average exercise price
 
Number of shares
 
Weighted-average exercise price
$28.56 to $54.22
1,631

 
2.88
 
$
35.83

 
1,631

 
$
35.83

$80.84 to $81.23
21,183

 
1.21
 
81.13

 
21,183

 
81.13

$88.56 to $89.23
14,435

 
2.35
 
88.63

 
14,435

 
88.63

 
37,249

 
1.72
 
82.06

 
37,249

 
82.06
Schedule of Additional Disclosure for Stock Options
The Company provides the following additional disclosures for stock options as of December 31 (dollars in thousands):
 
2015
 
2014
 
2013
Total fair value of stock options vested
$
—

 
$
45

 
$
485

Total aggregate intrinsic value of stock options exercised (1)
7,198

 
9,227

 
19,385

_________________________
(1)
The intrinsic value is calculated as the difference between the market value of the stock on the date of exercise and the exercise price of the option.
Summary of Restricted Stock Unit Activity
Restricted stock unit activity is summarized as follows:
 
Number of shares outstanding
 
Weighted-average grant date fair value per share
 
Weighted-average remaining contractual life (years)
 
Aggregate intrinsic value (1) (dollars in thousands)
Restricted stock units outstanding, December 31, 2012
1,583,840

 
$
115.22

 
 
 
 
Restricted stock units granted
775,029

 
204.20

 
 
 
 
Restricted stock units released, vested
(738,767
)
 
199.14

 
 
 
 
Restricted stock units canceled
(110,720
)
 
138.27

 
 
 
 
Restricted shares outstanding, December 31, 2013
1,509,382

 
122.05

 
 
 
 
Restricted stock units granted
803,692

 
190.90

 
 
 
 
Additional shares granted due to special distribution
48,171

 
224.45

 
 
 
 
Restricted stock units released, vested
(703,393
)
 
201.85

 
 
 
 
Restricted stock units canceled
(253,878
)
 
179.71

 
 
 
 
Restricted shares outstanding, December 31, 2014
1,403,974

 
114.56

 
 
 
 
Restricted stock units granted
711,990

 
236.89

 
 
 
 
Additional shares granted due to special distribution
51,432

 
297.03

 
 
 
 
Restricted stock units released, vested
(623,554
)
 
173.79

 
 
 
 
Special distribution shares released
(19,966
)
 
227.99

 
 
 
 
Restricted stock units canceled
(103,922
)
 
198.67

 
 
 
 
Special distribution shares canceled
(3,516
)
 
235.43

 
 
 
 
Restricted shares outstanding, December 31, 2015
1,416,438

 
148.53

 
1.21
 
$
428,331

__________________________
(1)The intrinsic value is calculated based on the market value of the stock as of December 31, 2015.
Disclosures for 2004 Purchase Plan
The Company provides the following disclosures for the 2004 Purchase Plan as of December 31 (dollars, except shares):
 
2015
 
2014
 
2013
Weighted-average purchase price per share
$
150.13

 
$
144.95

 
$
108.97

Weighted average grant-date fair value per share of shares purchased
57.63

 
53.37

 
41.30

Number of shares purchased
182,175

 
166,384

 
214,985
Assumptions in Computation of Fair Value
The Company uses the Black-Scholes option-pricing model to determine the fair value of shares purchased under the 2004 Purchase Plan with the following weighted average assumptions for the years ended December 31:
 
2015
 
2014
 
2013
Dividend yield
2.65 - 2.81%

 
0
%
 
0
%
Expected volatility
31
%
 
34
%
 
41
%
Risk-free interest rate
0.26
%
 
0.19
%
 
0.37
%
Expected life (in years)
1.25

 
1.25

 
1.25
Schedule of Allocated Share-based Compensation
The following table presents, by operating expense, the Company’s stock-based compensation expense recognized in the Company’s consolidated statement of operations for the years ended December 31 (in thousands):
 
2015
 
2014
 
2013
Cost of revenues
$
9,878

 
$
8,511

 
$
7,855

Sales and marketing
36,847

 
30,084

 
26,538

General and administrative
86,908

 
79,395

 
68,547

 
$
133,633

 
$
117,990

 
$
102,940
Schedule of Share-based Compensation by Plan
The Company’s stock-based compensation recognized in the consolidated statement of operations was comprised of the following types of equity awards for the years ended December 31 (in thousands):
 
2015
 
2014
 
2013
Stock options
$
1,679

 
$
4,917

 
$
3,456

Restricted shares and restricted stock units
124,512

 
104,235

 
88,411

Employee stock purchase plan
7,442

 
8,838

 
11,073

 
$
133,633

 
$
117,990

 
$
102,940