STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2016

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

Summary Of Employee Stock-Based Compensation Expense

Stock-based compensation expense - all related to employees and members of the Board of Directors - recognized under the authoritative guidance was as follows:

	Years Ended December 31,
	2016		2015		2014
	(In thousands)
Selling, general and administrative	$	15,829	$	14,461	$	13,940
Research and development	1,048		714		463
Cost of goods sold	433		275		151
Total stock-based compensation expense	17,310		15,450		14,554
Total estimated tax benefit related to stock-based compensation expense	10,569		5,792		5,350
Net effect on net income	$	6,741	$	9,658	$	9,204

Summary Of Weighted-Average Assumptions

The following weighted-average assumptions were used in the calculation of fair value:

	Years Ended December 31,
	2016	2015	2014
Dividend yield	0%	0%	0%
Expected volatility	29%	29%	29%
Risk free interest rate	1.94%	1.96%	2.41%
Expected life of option from grant date	8 years	8 years	8 years

Summary Of Stock Option Activity

The following table summarizes the Company’s stock option activity.

			Weighted Average Exercise Price		Weighted Average Contractual Term in Years	Aggregate Intrinsic Value
	Shares
Stock Options	(In thousands)					(In thousands)
Outstanding at January 1, 2016	2,386		$	18.55
Granted	276		33.69
Exercised	(566	)	17.85
Forfeited or Expired	(13	)	32.59
Outstanding at December 31, 2016	2,083		$	20.65	3.40	$	46,340
Vested or expected to vest at December 31, 2016	2,083		$	20.65	3.40	$	46,340
Exercisable at December 31, 2016	1,658		$	18.00	2.51	$	41,292

Summary Of Restricted Stock, Performance Stock, and Contract Stock

The following table summarizes the Company’s awards of restricted stock, performance stock and contract stock for the year ended December 31, 2016.

					Performance Stock and Contract Stock Awards
	Restricted Stock Awards
	Shares		Weighted Average Grant Date Fair Value Per Share		Shares		Weighted Average Grant Date Fair Value Per Share
	(In thousands)				(In thousands)
Unvested, January 1, 2016	588		$	24.10	332		$	16.65
Granted	289		33.71		203		32.70
Adjustments for performance achievement related to award target	—		—		25		31.07
Cancellations	(52	)	27.83		(12	)	30.52
Released	(313	)	22.09		(15	)	25.03
Vested but not released	—		—		(188	)	25.23
Unvested, December 31, 2016	512		$	28.49	345		$	21.62