Nature of Business and Significant Accounting Policies Nature of Business and Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2012

Nature of Business and Significant Accounting Policies [Abstract]

Reconciliation of the numerator and denominator utilized in the computation of basic and diluted earnings per share

The following table sets forth the reconciliation of the numerator and denominator utilized in the computation of basic and diluted earnings per share (in thousands):

	Year Ended December 31,
	2012			2011			2010
Numerator for earnings per share:
Earnings from continuing operations	$	225,356		$	222,652		$	248,374
Loss from discontinued operations	(2,958		)	(1,178		)	(248		)
Net earnings for basic earnings per share	222,398			221,474			248,126
Interest associated with convertible notes, net of tax	—			—			935
Net earnings available to common shareholders—diluted	$	222,398		$	221,474		$	249,061
Denominator for earnings per share:
Weighted average number of common shares outstanding	151,634			158,323			156,141
Assumed exercise of stock options and vesting of restricted stock awards, net of shares assumed reacquired under the treasury stock method	1,960			2,528			3,196
Assumed conversion of convertible notes	—			—			2,293
Diluted shares outstanding	153,594			160,851			161,630

Supplemental cash flow disclosure

Supplemental cash flow disclosure (in thousands)

	Year Ended December 31,
	2012		2011		2010
Cash paid for:
Interest	$	10,239	$	1,119	$	1,631
Taxes	$	74,333	$	106,215	$	111,778
Non-cash transactions:
Conversion of convertible notes to common stock	$	—	$	—	$	58,752
Stock issued for business acquisition	$	—	—		2,121

Stock-based compensation expense and related tax benefit recognized in the Consolidated Statements of Income and capitalized in the Consolidated Balance Sheets

The following table sets forth the stock-based compensation expense and related tax benefit recognized in the Consolidated Statements of Income for the years ended December 31, 2012, 2011 and 2010 (in thousands):

	Year Ended December 31,
	2012			2011			2010
Cost of goods sold	$	3,197		$	3,306		$	3,694
Research and development	5,001			5,195			5,015
Selling, general and administrative	18,052			16,416			16,866
Stock-based compensation expense before income taxes	26,250			24,917			25,575
Income tax benefit	(7,737		)	(6,976		)	(8,011		)
Total stock-based compensation expense after income taxes	$	18,513		$	17,941		$	17,564

Stock-based compensation expense capitalized in the Consolidated Balance Sheets as of December 31, 2012, 2011 and 2010 is as follows (in thousands):

	December 31,
	2012		2011		2010
Capitalized in inventory	$	470	$	819	$	673

Fair value of the stock-based awards granted weighted-average assumptions

The fair value of the stock-based awards granted in the years ended December 31, 2012, 2011 and 2010 was estimated with the following weighted-average assumptions:

	2012		2011		2010
Stock option awards:
Risk-free interest rate	0.4	%	1.0	%	1.6	%
Expected dividend yield	1.3	%	0.7	%	—	%
Expected term	4.2 years		4.3 years		4.3 years
Expected volatility	39.7	%	42.3	%	45.1	%
Market-based restricted stock awards:
Risk-free interest rate	0.4	%	N/A		N/A
Expected dividend yield	—		N/A		N/A
Expected term	3.0 years		N/A		N/A
Expected volatility	30.7	%	N/A		N/A
Expected volatility of S&P 500	19.6	%	N/A		N/A
Employee stock purchase plan:
Risk-free interest rate	0.2	%	0.1	%	0.2	%
Expected dividend yield	1.3	%	0.8	%	—	%
Expected term	6 months		6 months		6 months
Expected volatility	25.2	%	33.1	%	27.1	%

Weighted-average fair value of stock-based compensation awards granted and vested, and the intrinsic value of options exercised

The weighted-average fair value of stock-based compensation awards granted and vested, and the intrinsic value of options exercised during the period were (in thousands, except per share amounts):

	Years Ended December 31,
	2012		2011		2010
Stock option awards:
Weighted average grant date fair value per share	$	6.43	$	11.61	$	11.52
Total fair value of awards granted	$	4,104	$	4,613	$	7,299
Total fair value of awards vested	$	6,023	$	8,492	$	7,281
Total intrinsic value of options exercised	$	5,928	$	21,234	$	33,920
Restricted stock unit awards:
Weighted average grant date fair value per share	$	17.23	$	34.35	$	29.91
Total fair value of awards granted	$	30,660	$	21,822	$	16,011
Employee stock purchase plan:
Weighted average grant date fair value per share	$	4.66	$	6.99	$	6.59
Total fair value of shares estimated to be issued	$	1,694	$	2,359	$	1,885