STOCK BASED COMPENSATION (Tables)

6 Months Ended

Jun. 30, 2015

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 June 30,				Six Months Ended June 30,
	2015		2014		2015		2014
Cost of revenues – stock option plan	$	22	$	21	$	45	$	28
Selling, general and administrative – stock option plan	4,650		3,818		9,379		7,859
Selling, general and administrative – RSUs	375		314		721		629
Selling, general and administrative – ESPP	370		299		759		608
Total pre-tax expense	$	5,417	$	4,452	$	10,904	$	9,124

Tax Benefits Related to Stock Compensation

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

In thousands
	Three Months Ended June 30,				Six Months Ended June 30,
	2015		2014		2015		2014
Tax benefit recognized in Statement of Income	$	1,134	$	1,020	$	3,602	$	1,929
Excess tax benefit of stock options exercised	2,677		3,346		10,899		7,080

Stock Option Activity

Stock option activity for the six months ended June 30, 2015, is summarized as follows:

	Number of Options		Weighted Average Exercise Price per Share		Weighted Average Remaining Contractual Life	Total Aggregate Intrinsic Value
					(in years)	(in thousands)
Outstanding at beginning of year	5,377,857		$	80.88
Granted	935,276		130.97
Exercised	(583,441	)	67.31
Forfeited	(99,046	)	107.59
Canceled or expired	(1,228	)	107.03
Outstanding at June 30, 2015	5,629,418		$	90.15	6.07	$	246,741
Exercisable at June 30, 2015	3,035,083		$	72.39	5.17	$	186,748
Vested and expected to vest at June 30, 2015	5,374,237		$	88.93

Intrinsic Value of Options Exercised

The following table sets forth the total intrinsic value of options exercised:

In thousands
	Three Months Ended June 30,				Six Months Ended June 30,
	2015		2014		2015		2014
Total intrinsic value of options exercised	$	10,125	$	14,721	$	39,650	$	26,517

Assumptions used in Black-Scholes Model

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

	Three Months Ended June 30,						Six Months Ended June 30,
	2015			2014			2015			2014
Stock options granted (shares)	74,742			108,705			935,276			963,483
Weighted average fair value at grant date (per share)	$	22.18		$	21.40		$	22.80		$	21.30
Assumptions:
Expected term (in years)	4.79			4.69			4.79			4.74
Expected volatility	15.98		%	17.52		%	16.58		%	17.60		%
Expected dividend yield	—		%	—		%	—		%	—		%
Risk free interest rate	1.43		%	1.53		%	1.44		%	1.49		%

Restricted Stock Units Activity

A summary of the status of our non-vested RSUs and changes during the six months ended June 30, 2015, are as follows:

	Number of Units		Weighted Average Grant Date Fair Value		Total Aggregate Intrinsic Value
					(in thousands)
Non-vested at beginning of year	63,600		$	96.04
Granted	10,124		130.19
Vested and released	—		—
Forfeited	(3,537	)	101.56
Non-vested at June 30, 2015	70,187		$	100.69	$	9,399