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Equity (Tables)
 12 Months Ended
Dec. 31, 2014
Summary of Option Activity
Stock option activity for the 2010 Stock Plan and predecessor plans for the years ended December 31, 2014, 2013 and 2012 is summarized as follows:
 
2014
 
2013
 
2012
(Shares in thousands)
Number of
shares
 
Weighted
average
exercise
price
 
Number of
shares
 
Weighted
average
exercise
price
 
Number of
shares
 
Weighted
average
exercise
price
Options outstanding, beginning of year
1,961

 
$
8.20

 
2,565

 
$
8.20

 
3,561

 
$
6.53

Granted
651

 
11.71

 
553

 
9.88

 
470

 
9.27

Exercised
(546
)
 
6.56

 
(786
)
 
7.54

 
(1,293
)
 
3.76

Expired or Forfeited
(32
)
 
14.06

 
(371
)
 
12.10

 
(173
)
 
9.83

Options outstanding, end of year
2,034

 
$
9.67

 
1,961

 
$
8.20

 
2,565

 
$
8.20

Options exercisable, end of year
728

 
$
7.92

 
1,001

 
$
6.92

 
1,828

 
$
8.18
Summary of Options Outstanding
Options outstanding for the Company’s stock plans at December 31, 2014 are summarized as follows:
(Shares in thousands)
Options outstanding
 
Options exercisable
Range of exercise prices
Number
outstanding
 
Weighted
average
remaining life
in years
 
Weighted-
average
exercise
price
 
Number
exercisable
 
Weighted
average
exercise

price
$0.00 to $9.40
842

 
3.0 years
 
$
7.96

 
602

 
$
7.50

$9.88 to $9.88
541

 
5.1 years
 
9.88

 
126

 
9.88

$11.71 to $11.71
651

 
6.1 years
 
11.71

 
—

 
—

 
2,034

 
4.6 years
 
9.67

 
728

 
7.92
Cash Received From Exercise Of Stock Options and Employee Contribution to ESPP
The table below sets forth the amount of cash received by the Company from the exercise of stock options and employee contributions to the ESPP during the years ended December 31, 2014, 2013 and 2012:
(In thousands)
2014
 
2013
 
2012
Exercise of stock options and employee contributions to the ESPP
$
3,117

 
$
7,685

 
$
7,431
Summary of Restricted Stock Activity
Restricted stock awards are awards of common stock made under the 2010 Stock Plan that are subject to restrictions on transfer and to a risk of forfeiture if the awardee terminates employment with the Company prior to the lapse of the restrictions. The value of such stock is determined using the market price on the grant date. Compensation expense for restricted stock awards is generally recognized using the straight-line single-option method. A summary of the Company’s restricted stock activity for the years ended December 31, 2014, 2013 and 2012 is presented in the following table:
 
2014
 
2013
 
2012
(Shares in thousands)
Number
of
shares
 
Weighted
average
grant date
fair value
 
Number
of
shares
 
Weighted
average
grant date
fair value
 
Number
of
shares
 
Weighted
average
grant date
fair value
Unvested, beginning of year
1,570

 
$
8.98

 
1,802

 
$
7.02

 
2,298

 
$
5.49

Granted
834

 
11.59

 
717

 
9.85

 
744

 
9.21

Vested
(686
)
 
8.32

 
(871
)
 
5.67

 
(1,132
)
 
5.42

Forfeited
(105
)
 
10.14

 
(78
)
 
8.66

 
(108
)
 
6.22

Unvested, end of year
1,613

 
10.53

 
1,570

 
8.98

 
1,802

 
7.02
Summary of Allocation of Share Based Compensation Expense
The following table summarizes the allocation of share-based compensation expense related to employee stock options, restricted stock awards and grants under the employee stock purchase plan for the years ended December 31, 2014, 2013 and 2012:
(In thousands)
2014
 
2013
 
2012
Cost of sales
$
809

 
$
690

 
$
575

Engineering, research and development expenses
705

 
502

 
500

Selling, general and administrative expenses
7,373

 
6,736

 
8,806

Share-based compensation expense
8,887

 
7,928

 
9,881

Tax benefit
2,746

 
2,643

 
3,686

Share-based compensation expense, net of tax
$
6,141

 
$
5,285

 
$
6,195
Weighted Average Assumptions Used In Valuation And Resulting Weighted Average Fair Value Per Option Granted
The fair value of each stock option grant was estimated at the date of grant using a Black-Scholes option pricing model. The following table presents the weighted-average assumptions used in the valuation and the resulting weighted-average fair value per option granted for the years ended December 31, 2014, 2013 and 2012:
Employee stock options:
2014
 
2013
 
2012
Volatility
43.3
%
 
51.7
%
 
82.4
%
Risk-free interest rate
1.1
%
 
0.7
%
 
0.6
%
Dividend yield
—
%
 
—
%
 
—
%
Expected life (years)
3.8

 
3.6

 
3.8

Weighted average fair value per option
$
3.99

 
$
3.80

 
$
5.42