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Nature of Business and Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2016
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,
 
2016
 
2015
 
2014
Numerator for earnings per share:
 
 
 
 
 
Net earnings for basic and diluted earnings per share
$
166,626

 
$
241,686

 
$
200,261

Denominator for earnings per share:
 
 
 
 
 
Weighted average number of common shares outstanding
137,138

 
139,353

 
141,143

Assumed exercise of stock options and vesting of restricted stock awards, net of shares assumed reacquired under the treasury stock method
1,359

 
1,421

 
2,426

Diluted shares outstanding
138,497

 
140,774

 
143,569
Supplemental cash flow disclosure
Supplemental cash flow disclosure (in thousands)
 
Year Ended December 31,
 
2016
 
2015
 
2014
Cash paid for:
 
 
 
 
 
Interest
$
15,815

 
$
13,039

 
$
13,410

Taxes
$
32,465

 
$
68,534

 
$
47,434
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 recognized in the Consolidated Statements of Income for the years ended December 31, 2016, 2015 and 2014 (in thousands):
 
Year Ended December 31,
 
2016
 
2015
 
2014
Cost of goods sold
$
3,103

 
$
3,001

 
$
2,706

Research and development
4,815

 
4,694

 
5,218

Selling, general and administrative
19,879

 
18,053

 
22,864

Stock-based compensation expense before income taxes
$
27,797

 
$
25,748

 
$
30,788

Stock-based compensation expense capitalized in the Consolidated Balance Sheets as of December 31, 2016, 2015 and 2014 is as follows (in thousands):
 
December 31,
 
2016
 
2015
 
2014
Capitalized in inventory
$
567

 
$
691

 
$
713
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, 2016, 2015 and 2014 was estimated with the following weighted-average assumptions:
 
2016
 
2015
 
2014
Stock option awards:
 
 
 
 
 
Risk-free interest rate
0.9
%
 
0.2
%
 
1.0
%
Expected dividend yield
1.6
%
 
1.4
%
 
1.2
%
Expected term
4.3 years

 
4.1 years

 
4.4 years

Expected volatility
25.6
%
 
26.6
%
 
28.7
%
Performance-based restricted stock awards:
 
 
 
 
 
Expected dividend yield
1.6
%
 
—

 
—

Discount for illiquidity
9.9
%
 
—

 
—

Market-based restricted stock awards:
 
 
 
 
 
Risk-free interest rate
0.9
%
 
0.9
%
 
—

Expected dividend yield
1.6
%
 
1.4
%
 
—

Expected term
4.0 years

 
4.0 years

 
—

Expected volatility
25.8
%
 
27.5
%
 
—

Expected volatility of S&P 500
25.0
%
 
23.4
%
 
—

Discount for illiquidity
9.9
%
 
10.9
%
 
—

Employee stock purchase plan:
 
 
 
 
 
Risk-free interest rate
0.5
%
 
0.4
%
 
0.3
%
Expected dividend yield
1.5
%
 
1.5
%
 
1.2
%
Expected term
6 months

 
6 months

 
6 months

Expected volatility
27.0
%
 
21.5
%
 
23.9
%
Discount for illiquidity
10.5
%
 
—

 
—
Fair value of the stock-based awards granted and vested, and 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,
 
2016
 
2015
 
2014
Stock option awards:
 
 
 
 
 
Weighted average grant date fair value per share
$
5.68

 
$
5.60

 
$
7.41

Total fair value of awards granted
$
4,716

 
$
4,170

 
$
4,947

Total fair value of awards vested
$
4,407

 
$
4,290

 
$
4,662

Total intrinsic value of options exercised
$
6,170

 
$
15,585

 
$
35,663

Restricted stock unit awards:
 
 
 
 
 
Weighted average grant date fair value per share
$
28.86

 
$
29.12

 
$
32.80

Total fair value of awards granted
$
28,603

 
$
27,150

 
$
22,484

Total fair value of awards vested
$
21,130

 
$
24,458

 
$
30,277

Employee stock purchase plan:
 
 
 
 
 
Weighted average grant date fair value per share
$
6.33

 
$
5.83

 
$
7.38

Total fair value of shares estimated to be issued
$
923

 
$
951

 
$
1,144
Changes in the balances of each component of accumulated other comprehensive earnings (loss)
The following table sets forth the changes in the balances of each component of accumulated other comprehensive earnings (loss) for the year ended December 31, 2016:


Pension Plans
Items

Cash Flow
Hedge Items

Foreign
Currency
Items

Total
Balance, December 31, 2015

$
(1,717
)
 
$
323

 
$
(123,732
)
 
$
(125,126
)
Other comprehensive income (loss) before reclassifications, net of tax

78

 
(357
)
 
(40,911
)
 
(41,190
)
Amounts reclassified from accumulated other comprehensive earnings (loss), net of tax

24

 
341

 
—

 
365

Net current period other comprehensive income (loss), net of tax

102

 
(16
)
 
(40,911
)
 
(40,825
)
Balance, December 31, 2016

$
(1,615
)
 
$
307

 
$
(164,643
)
 
$
(165,951
)
Components of accumulated other comprehensive loss related to the Company’s pension plans as of December 31, 2016 and 2015 are as follows (in thousands):
 
December 31,
 
2016
 
2015
Net loss
$
(1,630
)
 
$
(1,708
)
Prior service cost
15

 
(9
)
 
$
(1,615
)
 
$
(1,717
)