STOCK BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2014

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 Consolidated Statements of Income:

	Years Ended December 31,
	2014		2013		2012
Cost of revenues - stock option plan	$	52	$	120	$	136
Selling, general and administrative - stock option plan	15,214		15,212		13,630
Selling, general and administrative - RSUs	1,267		1,116		1,474
Selling, general and administrative - ESPP	1,240		1,009		1,099
Total pre-tax expense	$	17,773	$	17,457	$	16,339

Tax Benefits Related to Stock Compensation

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

	Years Ended December 31,
	2014		2013		2012
Tax benefit recognized in Statements of Income	$	4,849	$	4,518	$	5,818
Excess tax benefit realized	17,906		17,153		30,161

Stock Option Activity

Stock option activity for the year ended December 31, 2014, is summarized as follows:

	Number of Options		Weighted Average Exercise Price per Share
Outstanding at beginning of year	5,540,482		$	70.29
Granted	981,583		115.41
Exercised	(991,201	)	53.49
Forfeited	(151,350	)	96.43
Canceled or expired	(1,657	)	80.96
Outstanding at December 31, 2014	5,377,857		$	80.88
Exercisable at December 31, 2014	2,719,760		$	65.54
Vested and expected to vest at December 31, 2014	5,176,959		$	80.02

Intrinsic Value of Options Exercised

The following table sets forth the total intrinsic value of options exercised for the years ended December 31:

In thousands
	2014		2013		2012
Total exercise intrinsic value of options exercised	$	65,884	$	55,757	$	97,816

Information Related to Outstanding and Exercisable Options

	2014		2013		2012
Weighted average remaining contractual life of outstanding options (in years)	6.10		6.60		6.70
Total aggregate intrinsic value of outstanding options (in thousands)	$	269,900	$	254,200	$	175,200
Weighted average remaining contractual life of exercisable options (in years)	5.10		5.30		5.50
Total aggregate intrinsic value of exercisable options (in thousands)	$	178,300	$	161,100	$	114,500

Options Outstanding and Exercisable by Price Range

Options outstanding and exercisable at December 31, 2014 by price range are presented below:

	Options Outstanding				Options Exercisable
Range of Exercise Price	Shares	Outstanding Average Remaining Life in Years	Weighted Average Exercise Price		Shares	Weighted Average Exercise Price
$22.90 - $46.83	663,353	3.03	$	41.99	659,353	$	42.06
$46.87 - $51.20	72,225	4.34	49.70		68,225	49.61
$51.55 - $51.55	539,334	5.10	51.55		380,195	51.55
$51.75 - $83.88	550,039	3.95	57.71		524,647	57.16
$83.95 - $84.91	48,731	7.34	84.01		43,081	83.96
$85.00 - $85.00	614,657	6.10	85.00		327,701	85.00
$85.02 - $86.02	11,450	7.18	85.44		3,300	85.32
$86.24 - $86.24	801,630	7.12	86.24		317,562	86.24
$86.83 - $95.03	179,092	6.83	90.13		124,033	89.22
$95.87 - $132.95	1,897,346	7.73	106.15		271,663	100.63
$22.90 - $132.95	5,377,857	6.14	$	80.88	2,719,760	$	65.54

Assumptions used in Black-Scholes Model

The estimated fair value of stock options at the time of the grant using the Black-Scholes model option pricing model was as follows:

	Years Ended December 31,
	2014			2013			2012
Stock options granted (shares)	981,583			1,057,630			1,142,205
Weighted average fair value at grant date	$	21.31		$	22.02		$	20.14
Assumptions:
Expected term (in years)	4.76			5.81			6.00
Expected volatility	17.23		%	27.03		%	27.87		%
Expected dividend yield	—		%	—		%	—		%
Risk free interest rate	1.53		%	1.00		%	1.05		%

Information Related to RSUs

The following table sets forth the information related to RSUs for the years ended December 31:

	2014		2013		2012
Total aggregate intrinsic value of outstanding units (in thousands)	$	8,337	$	8,185	$	6,362
Per share fair value of units granted	115.67		96.40		86.24

Restricted Stock Units Activity

A summary of the status of our non-vested RSUs and changes during the year ended December 31, 2014, are as follows:

	Number of Units		Weighted Average Grant Date Fair Value
Non-vested at beginning of year	70,457		$	88.32
Granted	16,334		115.67
Vested and released	(17,288	)	85.00
Forfeited	(5,903	)	90.53
Non-vested at December 31, 2014	63,600		$	96.04