STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [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,
Dollars in thousands	2021		2020		2019
Cost of goods sold	470		344		317
Research and development	1,644		1,471		1,785
Selling, general and administrative	$	34,096	$	17,776	$	19,153
Total stock-based compensation expense	36,210		19,591		21,255
Total estimated tax benefit related to stock-based compensation expense	13,804		6,221		9,420
Net effect on net income	$	22,406	$	13,370	$	11,835

Summary Of Weighted-Average Assumptions

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

	Years Ended December 31,
	2021	2020	2019
Dividend yield	0%	0%	0%
Expected volatility	29%	27%	28%
Risk free interest rate	1.30%	0.89%	2.51%
Expected life of option from grant date	7 years	7 years	7 years
Weighted average grant date fair value of options granted	$22.59	$13.03	$18.74

Summary Of Stock Option Activity

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

	Shares	Weighted Average Exercise Price		Weighted Average Contractual Term in Years	Aggregate Intrinsic Value
Stock Options	(In thousands)				(In thousands)
Outstanding at January 1, 2021	1,346	$	39.25	4.41	$34,560
Granted	150	68.10		—	—
Exercised	(230)	24.74		—	—
Forfeited or Expired	(41)	51.20		—	—
Outstanding at December 31, 2021	1,225	$	45.11	4.30	$	26,970
Exercisable at December 31, 2021	858	$	41.07	3.38	$	22,242

Summary Of Restricted Stock, Performance Stock, and Contract Stock Activity

The following table summarizes the Company’s awards of restricted stock, performance stock and contract stock for the year ended December 31, 2021.

	Restricted Stock Awards			Performance Stock and Contract 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, 2021	472	$	50.02	197	47.66
Granted	242	68.31		223	67.91
Adjustments for performance achievement related to award target	—	—		96	58.18
Cancellations	(78)	54.94		(152)	—
Released	(214)	51.63		(20)	67.84
Vested but not released	—	—		(289)	58.06
Unvested, December 31, 2021	422	$	58.78	55	70.74