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STOCK-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2017
STOCK-BASED COMPENSATION  
Schedule of weighted-average assumptions used to estimate the fair value of options granted

 

 

 

2017

 

2016

 

2015

Dividend yield

 

0.0 %

 

0.0 %

 

0.0 %

Expected volatility

 

36.5 %

 

36.2 %

 

37.1 %

Risk-free interest rate

 

2.11 %

 

1.57 %

 

1.57 %

Expected term

 

6.1 Years

 

6.3 Years

 

5.8 Years

 

Summary of Company's activities with respect to its stock option plans

 

Options

 

Number of
Shares (In
thousands)

 

Weighted-
Average
Exercise
Price Per
Share

 

Weighted-
Average
Remaining
Contractual
Term (In
years)

 

Aggregate
Intrinsic Value

 

Outstanding at January 1, 2017

 
22,643

 

  $
23.55

 
5.8

 

  $
474,739

 

Granted 01/01/17 - 03/31/17

 
1,319

 

  $
45.94

 

 

 

 

 

Granted 04/01/17 - 06/30/17

 
26

 

  $
49.71

 

 

 

 

 

Granted 07/01/17 - 09/30/17

 
12

 

  $
56.08

 

 

 

 

 

Granted 10/01/17 - 12/31/17

 
77

 

  $
61.71

 

 

 

 

 

Exercised

 
(5,754)

 

  $
9.15

 

 

 

 

 

Cancelled or forfeited

 
(504)

 

  $
40.09

 

 

 

 

 

Outstanding at December 31, 2017

 
17,819

 

  $
29.62

 
6.1

 

  $
600,032

 

Vested and expected to vest in the

 

 

 

 

 

 

 

 

 

future at December 31, 2017

 
16,863

 

  $
28.81

 
6.0

 

  $
581,425

 

Exercisable at December 31, 2017

 
9,282

 

  $
18.68

 
4.4

 

  $
414,052

 

 

Summary of information about stock options outstanding and exercisable

 

The following table summarizes information about stock options outstanding and exercisable at December 31, 2017:

 

 

 

 

 

Options Outstanding

 

Options Exercisable

 

Range of Exercise
Prices ($)

 

Number
Outstanding (In
Thousands)

 

Weighted
Average
Remaining
Contractual
Term (Years)

 

Weighted
Average
Exercise
Price ($)

 

Number
Exercisable
(In
Thousands)

 

Weighted
Average
Exercise
Price ($)

 
$
4.51

-

$5.61

 
204

 
0.7

 

  $
5.25

 
204

 

  $
5.25

 
$
5.94

-

$5.94

 
3,159

 
1.9

 

  $
5.94

 
3,159

 

  $
5.94

 
$
6.02

-

$17.99

 
2,776

 
4.8

 

  $
15.27

 
2,289

 

  $
15.14

 
$
18.64

-

$23.35

 
2,441

 
6.0

 

  $
22.67

 
1,889

 

  $
22.63

 
$
23.68

-

$23.68

 
12

 
6.3

 

  $
23.68

 

-

 

  $

-

 
$
36.05

-

$43.64

 
2,219

 
8.2

 

  $
41.59

 
397

 

  $
39.85

 
$
43.99

-

$43.99

 
2,567

 
8.2

 

  $
43.99

 
418

 

  $
43.99

 
$
44.73

-

$45.01

 
634

 
8.1

 

  $
44.94

 
110

 

  $
44.94

 
$
45.16

-

$45.16

 
2,158

 
7.2

 

  $
45.16

 
779

 

  $
45.16

 
$
45.55

-

$62.92

 
1,649

 
8.7

 

  $
47.74

 
37

 

  $
48.99

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
17,819

 
6.1

 

  $
29.62

 
9,282

 

  $
18.68

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Summary of Company's activities with respect to non-vested restricted stock units

 

 

 

Number of
Shares (in
thousands)

 

Weighted
Average
Grant-Date
Fair Value

 

Non-vested at January 1, 2017

 
556

 

  $
39.95

 

Granted 01/01/17- 03/31/17

 
252

 

  $
46.27

 

Granted 04/01/17- 06/30/17

 
23

 

  $
50.86

 

Granted 07/01/17- 09/30/17

 

-

 

 

-

 

Granted 10/01/17- 12/31/17

 
2

 

  $
59.43

 

Vested

 
(300)

 

  $
37.26

 

Forfeited/cancelled

 
(3)

 

  $
27.02

 

 

 

 

 

 

 

 

Non-vested at December 31, 2017

 
530

 

  $
45.09

 

 

 

 

 

 

 

 

 

Schedule of employee and non-employee share-based compensation expense

 

 

 

2017

 

2016

 

2015

 

Operating expenses

 

  $
52,282

 

  $
45,848

 

  $
32,719

 

 

 

 

 

 

 

 

 

 

 

 

Total employee and non-employee share-based compensation expense included in income, before income tax

 
52,282

 
45,848

 
32,719

 

Less: Amount of income tax benefit recognized in earnings

 
(100,635)

 
(34,909)

 
(9,058)

 

 

 

 

 

 

 

 

 

Amount charged against net income

 

  $
(48,353)

 

  $
10,939

 

  $
23,661