STOCK BASED COMPENSATION (Tables)

9 Months Ended

Sep. 30, 2013

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock-Based Compensation Expense Resulting from Stock Option Awards, Restricted stock units ("RSU") and ESPP

The following table presents the total stock-based compensation expense resulting from stock option awards, restricted stock units (“RSUs”), and the ESPP included in the Condensed Consolidated Statements of Income:

In thousands
	Three Months Ended September 30,				Nine Months Ended September 30,
	2013		2012		2013		2012
Cost of revenues – stock option plan	$	32	$	34	$	102	$	105
Selling, general and administrative – stock option plan	3,561		3,421		10,265		10,329
Selling, general and administrative – RSUs	389		389		967		1,077
Selling, general and administrative – ESPP	163		285		754		835
Total pre-tax expense	$	4,145	$	4,129	$	12,088	$	12,346

Tax Benefits Related to Stock Compensation

The following table sets forth the tax benefits related to stock compensation:

In thousands
	Three Months Ended September 30,				Nine Months Ended September 30,
	2013		2012		2013		2012
Tax benefit recognized in Statement of Income	$	1,109	$	1,631	$	3,493	$	4,239
Excess tax benefit realized	3,981		9,471		12,354		20,994

Assumptions used in Black-Scholes Model

The assumptions that we used in the Black-Scholes model are as follows:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2013			2012			2013			2012
Weighted average fair value at grant date	$	26.51		$	20.68		$	21.99		$	20.09
Expected term (in years)	5.75			6.00			5.83			6.00
Expected volatility	26.20		%	27.52		%	27.05		%	27.90		%
Expected dividend yield	—		%	—		%	—		%	—		%
Risk free interest rate	1.67		%	0.79		%	1.00		%	1.06		%

Stock Option Activity

Stock option activity for the nine months ended September 30, 2013, was as follows:

	Number of Options		Weighted Average Exercise Price per Share		Weighted Average Remaining Contractual Life	Aggregate Intrinsic Value
					(in years)
Outstanding at December 31, 2012	5,543,664		$	61.69
Granted	1,050,080		96.94
Exercised	(705,247	)	48.68
Canceled or expired	(107,933	)	75.19
Outstanding at September 30, 2013	5,780,564		$	69.43	6.74	$	265,744,014
Exercisable at September 30, 2013	2,919,271		$	56.35	5.41	$	172,389,576
Vested and expected to vest in the future at September 30, 2013	5,024,369		$	66.71	6.48	$	244,644,342

Intrinsic Value of Options Exercised

The total exercise intrinsic value represents the total pre-tax value (the difference between the sales price on that trading day in the quarter ended September 30, and the exercise price associated with the respective option).

In thousands
	Three Months Ended September 30,				Nine Months Ended September 30,
	2013		2012		2013		2012
Total exercise intrinsic value of options exercised	$	12,809	$	28,558	$	40,537	$	68,582

Restricted Stock Units Activity

RSUs activity for the nine months ended September 30, 2013, is summarized below. RSUs vest at the end of three or five years. Our 2008 and 2011 Plans include a share reserve related to RSUs granted at a 2-1 ratio.

	Number of Units		Weighted Average Remaining Contractual Life	Aggregate Intrinsic Value
			(in years)
Outstanding at December 31, 2012	68,202
Granted	17,800
Released	(12,750	)
Forfeited	(907	)
Outstanding at September 30, 2013	72,345		2.90	$	8,348,613
Exercisable at September 30, 2013	—		0.00	$	—