STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2022

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	2022		2021		2020
Cost of goods sold	549		470		344
Research and development	1,739		1,644		1,471
Selling, general and administrative	$	25,437	$	34,096	$	17,776
Total stock-based compensation expense	27,725		36,210		19,591
Total estimated tax benefit related to stock-based compensation expense	10,574		13,804		6,221
Net effect on net income	$	17,151	$	22,406	$	13,370

Summary Of Weighted-Average Assumptions

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

	Years Ended December 31,
	2022	2021	2020
Dividend yield	0%	0%	0%
Expected volatility	30%	29%	27%
Risk free interest rate	2.01%	1.30%	0.89%
Expected life of option from grant date	7 years	7 years	7 years
Weighted average grant date fair value of options granted	$23.15	$22.59	$13.03

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, 2022	1,225	$	45.11	4.30	$26,970
Granted	146	65.11		—	—
Exercised	(155)	28.32		—	—
Forfeited or Expired	(14)	50.68		—	—
Outstanding at December 31, 2022	1,202	$	49.63	4.14	$	10,772
Exercisable at December 31, 2022	871	$	45.82	3.30	$	9,635

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, 2022.

	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, 2022	422	$	58.78	442	60.62
Granted	334	62.88		245	62.89
Adjustments for performance achievement related to award target	—	—		(18)	60.76
Cancellations	(34)	62.29		(10)	59.88
Released	(239)	58.27		(252)	59.38
Unvested, December 31, 2022	483	$	61.63	407	62.88