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Nature of Business and Significant Accounting Policies Nature of Business and Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2014
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,
 
2014
 
2013
 
2012
Numerator for earnings per share:
 
 
 
 
 
Earnings from continuing operations
$
200,261

 
$
177,015

 
$
225,356

Loss from discontinued operations
—

 
—

 
(2,958
)
Net earnings for basic and diluted earnings per share
$
200,261

 
$
177,015

 
$
222,398

Denominator for earnings per share:
 
 
 
 
 
Weighted average number of common shares outstanding
141,143

 
142,446

 
151,634

Assumed exercise of stock options and vesting of restricted stock awards, net of shares assumed reacquired under the treasury stock method
2,426

 
2,149

 
1,960

Diluted shares outstanding
143,569

 
144,595

 
153,594
Supplemental cash flow disclosure
Supplemental cash flow disclosure (in thousands)
 
Year Ended December 31,
 
2014
 
2013
 
2012
Cash paid for:
 
 
 
 
 
Interest
$
13,410

 
$
12,922

 
$
10,239

Taxes
$
47,434

 
$
88,277

 
$
74,333
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, 2014, 2013 and 2012 (in thousands):
 
Year Ended December 31,
 
2014
 
2013
 
2012
Cost of goods sold
$
2,706

 
$
2,591

 
$
3,197

Research and development
5,218

 
4,938

 
5,001

Selling, general and administrative
22,864

 
20,294

 
18,052

Stock-based compensation expense before income taxes
30,788

 
27,823

 
26,250

Income tax benefit
(7,475
)
 
(8,598
)
 
(7,737
)
Total stock-based compensation expense after income taxes
$
23,313

 
$
19,225

 
$
18,513

Stock-based compensation expense capitalized in the Consolidated Balance Sheets as of December 31, 2014, 2013 and 2012 is as follows (in thousands):
 
December 31,
 
2014
 
2013
 
2012
Capitalized in inventory
$
713

 
$
734

 
$
470
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, 2014, 2013 and 2012 was estimated with the following weighted-average assumptions:
 
2014
 
2013
 
2012
Stock option awards:
 
 
 
 
 
Risk-free interest rate
1.0
%
 
0.3
%
 
0.4
%
Expected dividend yield
1.2
%
 
1.5
%
 
1.3
%
Expected term
4.4 years

 
4.3 years

 
4.2 years

Expected volatility
28.7
%
 
33.7
%
 
39.7
%
Market-based restricted stock awards:
 
 
 
 
 
Risk-free interest rate
—

 
0.3
%
 
0.4
%
Expected dividend yield
—

 
0.0
%
 
0.0
%
Expected term
—

 
2.2 years

 
3.0 years

Expected volatility
—

 
28.8
%
 
30.7
%
Expected volatility of S&P 500
—

 
18.1
%
 
19.6
%
Employee stock purchase plan:
 
 
 
 
 
Risk-free interest rate
0.3
%
 
0.1
%
 
0.2
%
Expected dividend yield
1.2
%
 
1.4
%
 
1.3
%
Expected term
6 months

 
6 months

 
6 months

Expected volatility
23.9
%
 
28.1
%
 
25.2
%
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,
 
2014
 
2013
 
2012
Stock option awards:
 
 
 
 
 
Weighted average grant date fair value per share
$
7.41

 
$
5.92

 
$
6.43

Total fair value of awards granted
$
4,947

 
$
6,095

 
$
4,104

Total fair value of awards vested
$
4,662

 
$
5,059

 
$
6,023

Total intrinsic value of options exercised
$
35,663

 
$
4,642

 
$
5,928

Restricted stock unit awards:
 
 
 
 
 
Weighted average grant date fair value per share
$
32.80

 
$
23.94

 
$
17.23

Total fair value of awards granted
$
22,484

 
$
28,239

 
$
30,660

Total fair value of awards vested
$
30,277

 
$
13,846

 
$
12,710

Employee stock purchase plan:
 
 
 
 
 
Weighted average grant date fair value per share
$
7.38

 
$
5.94

 
$
4.66

Total fair value of shares estimated to be issued
$
1,144

 
$
1,169

 
$
1,694
Schedule of Accumulated Other Comprehensive Income (Loss)
The following table sets forth the changes in the balances of each component of accumulated other comprehensive (loss) income for the year ended December 31, 2014:


Pension Plans
Items

Cash Flow
Hedge Items

Foreign
Currency
Items

Total
Balance, December 31, 2013

$
(2,166
)
 
$
1,660

 
$
26,506

 
$
26,000

Other comprehensive income before reclassifications, net of tax

(375
)
 
(1,462
)
 
(88,462
)
 
(90,299
)
Amounts reclassified from accumulated other comprehensive (loss) earnings, net of tax

163

 
727

 
—

 
890

Net current period other comprehensive income, net of tax

(212
)
 
(735
)
 
(88,462
)
 
(89,409
)
Balance, December 31, 2014

$
(2,378
)
 
$
925

 
$
(61,956
)
 
$
(63,409
)
Components of accumulated other comprehensive (loss) earnings related to the Company’s pension plans as of December 31, 2014 and 2013 are as follows (in thousands):
 
December 31,
 
2014
 
2013
Net loss
$
(2,208
)
 
$
(1,836
)
Prior service cost
(170
)
 
(330
)
 
$
(2,378
)
 
$
(2,166
)