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STOCKHOLDERS' EQUITY
3 Months Ended
Mar. 31, 2026
Stockholders' Equity Note [Abstract]  
STOCKHOLDERS' EQUITY STOCKHOLDERS' EQUITY
Stock-Based Compensation
The Company’s results for the three months ended March 31, 2026 and 2025 reflected the following stock-based compensation cost, and such compensation cost had the following effects on net earnings:

Increase/(Decrease) for the
Three Months Ended March 31,
20262025
Cost of sales$531 $438 
Operating expenses4,825 3,372 
Net earnings(4,120)(2,928)

The Company's omnibus incentive plan ("the Plan") allows for the granting of stock awards and options to purchase common stock. Both incentive stock options and nonqualified stock options can be awarded under the plan. The Company has approved and reserved a number of shares to be issued upon exercise of the outstanding options that is adequate to cover all exercises. As of March 31, 2026, the Plan had 503,567 shares available for future awards.
Option activity for the three months ended March 31, 2026 and 2025 is summarized below:
For the Three Months Ended March 31, 2026Shares (000s)Weighted
Average
Exercise
Price
Aggregate
Intrinsic
Value
Weighted
Average
Remaining
Contractual
Term
Outstanding as of December 31, 2025900 $120.48 $29,888 
Granted71 178.68 
Exercised(66)101.52 
Forfeited— — 
Canceled(2)139.31 
Outstanding as of March 31, 2026903 $126.38 $39,577 5.5
Exercisable as of March 31, 2026653 $114.89 $35,662 4.5
For the Three Months Ended March 31, 2025Shares (000s)Weighted
Average
Exercise
Price
Aggregate
Intrinsic
Value
Weighted
Average
Remaining
Contractual
Term
Outstanding as of December 31, 2024962 $114.81 $46,346 
Granted51 159.18 
Exercised(18)90.50 
Forfeited— — 
Canceled— — 
Outstanding as of March 31, 2025995 $117.53 $48,212 5.6
Exercisable as of March 31, 2025688 $105.78 $41,408 4.4

ASC 718, "Compensation-Stock Compensation", requires companies to measure the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award. The weighted average fair values of the stock options granted under the Plan were calculated using either the Black-Scholes model or the Binomial model, whichever was deemed to be most appropriate. For the three months ended March 31, 2026, the fair value of each option grant was estimated on the date of the grant using the following weighted average assumptions:
 Three Months Ended March 31,
 20262025
Dividend yields0.5 %0.6 %
Expected volatilities23.5 %26.0 %
Risk-free interest rates3.8 %4.5 %
Expected lives5.2 years5.2 years
Other information pertaining to option activity during the three months ended March 31, 2026 and 2025 is as follows:

 Three Months Ended March 31,
 20262025
Weighted-average fair value of options granted$48.90 $48.86 
Total intrinsic value of stock options exercised ($000s)$4,754 $1,388 
Non-vested restricted stock activity for the three months ended March 31, 2026 and 2025 is summarized below:
Three Months Ended March 31,
20262025
Shares (000s)Weighted
Average Grant
Date Fair
Value
Shares (000s)Weighted
Average Grant
Date Fair
Value
Non-vested balance as of December 31147 $150.15 122 $141.62 
Granted59 178.34 54 159.11 
Vested(50)145.25 (28)138.21 
Forfeited(1)155.53 (1)140.76 
Non-vested balance as of March 31155 $162.45 147 $148.68 

Non-vested performance share activity for the three months ended March 31, 2026 and 2025 is summarized below:

Three Months Ended March 31,
20262025
Shares (000s)Weighted
Average Grant
Date Fair
Value
Shares (000s)Weighted
Average Grant
Date Fair
Value
Non-vested balance as of December 3181 $160.14 79 $150.73 
Granted50 173.60 50 147.96
Vested(35)148.64 (44)109.95
Forfeited— — (4)150.11
Non-vested balance as of March 3196 $171.52 81 $160.14 

The Company also has performance share (“PS”) awards, which provide the recipients the right to receive a certain number of shares of the Common Stock in the future, subject to certain performance hurdles, depending on the date of the grant: (1) an EBITDA performance hurdle, where vesting is dependent upon the Company achieving a certain EBITDA percentage growth over the performance period (typically three years), (2) a relative total shareholder return (“TSR”) market condition where vesting is dependent upon the Company’s TSR performance over the performance period (typically three years) relative to a comparator group consisting of the Russell 2000 index constituents, or (3) an EBITDA performance hurdle, where vesting is dependent upon the Company achieving a certain EBITDA percentage growth over the performance period (typically three years) and modified based on the Company's TSR performance over the performance period relative to a comparator group consisting of the Russell 2000 index constituents. Expense is measured based on the fair value of the grant at the date of grant. A Monte-Carlo simulation has been used to estimate the fair value using the following assumptions:
 Three Months Ended March 31,
 20262025
Dividend yields— %— %
Expected volatilities22.8 %25.5 %
Risk-free interest rates3.5 %4.3 %
Initial TSR's16.0 %-8.8 %
As of March 31, 2026 and 2025, there were $35,802 and $31,427, respectively, of total unrecognized compensation costs related to non-vested share-based compensation arrangements granted under the plans. As of March 31, 2026, the unrecognized compensation cost is expected to be recognized over a weighted-average period of approximately 1.8 years. The Company estimates that share-based compensation expense for the year ended December 31, 2026 will be $19,467.
Repurchases of Common Stock
On December 9, 2025, the Company's Board of Directors approved a new stock repurchase program (the "December 2025 program"), which replaced the previously approved June 1999 program. The December 2025 program authorizes the repurchases of up to and including 4,000,000 shares of the Company's ordinary shares. This new stock repurchase program has no expiration date, does not oblige the Company to acquire any particular amount of the Company's ordinary shares, and may be terminated at any time. Since the inception of the December 2025 program, a total of 159,539 shares have been repurchased.
During the three months ended March 31, 2026 and 2025, the Company purchased 89,880 and 32,869 shares, respectively, from open market purchases and from employees on a net-settlement basis to provide cash to employees to cover the associated employee payroll taxes. These shares were purchased at an average cost of $166.03 and $161.99 per share, respectively. The Company records the applicable excise taxes payable related to repurchases of our common stock as an incremental cost of the shares repurchased and a corresponding liability for the excise tax payable in "Other accrued liabilities" on our condensed consolidated balance sheet. The excise tax payable was $779 as of December 31, 2025. There was no excise tax payable as of March 31, 2026.