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Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Stock-Based Compensation Expense
Stock-based compensation expense consisted of the following (in thousands):
 
 
Year Ended December 31,
 
 
2017
 
2016
 
2015
Cost of sales
 
$
243

 
$
233

 
$
326

SG&A expense
 
11,043

 
10,753

 
11,346

Pre-tax stock-based compensation expense
 
11,286

 
10,986

 
11,672

Income tax benefits
 
(1,778
)
 
(3,969
)
 
(4,044
)
Total stock-based compensation expense, net of tax
 
$
9,508

 
$
7,017

 
$
7,628

Schedule of Weighted Average Assumptions
The following table presents the weighted average assumptions for the years ended December 31:
 
 
2017
 
2016
 
2015
Expected term
 
4.54 years
 
4.63 years
 
4.60 years
Expected stock price volatility
 
28.91%
 
29.79%
 
26.57%
Risk-free interest rate
 
1.73%
 
1.17%
 
1.20%
Expected dividend yield
 
1.29%
 
1.20%
 
1.26%
Weighted average grant date fair value
 
$13.11
 
$13.38
 
$10.36

Summary of Stock Option Activity
The following table summarizes stock option activity under the Plan:
 
 
Number of
Shares
 
 Weighted
Average
Exercise
Price
 
Weighted Average Remaining Contractual Life
 
Aggregate Intrinsic Value (in thousands)
Options outstanding at January 1, 2015
 
2,640,785

 
$
28.00

 
6.50
 
$
43,682

Granted
 
500,761

 
48.46

 
 
 
 
Cancelled
 
(172,018
)
 
34.59

 
 
 
 
Exercised
 
(680,658
)
 
25.63

 
 
 
 
Options outstanding at December 31, 2015
 
2,288,870

 
32.69

 
6.50
 
38,209

Granted
 
430,544

 
56.63

 
 
 
 
Cancelled
 
(117,699
)
 
47.33

 
 
 
 
Exercised
 
(450,173
)
 
29.25

 
 
 
 
Options outstanding at December 31, 2016
 
2,151,542

 
37.40

 
6.39
 
45,253

Granted
 
540,537

 
55.90

 
 
 
 
Cancelled
 
(246,450
)
 
50.62

 
 
 
 
Exercised
 
(675,742
)
 
29.52

 
 
 
 
Options outstanding at December 31, 2017
 
1,769,887

 
$
44.22

 
6.69
 
$
48,962

Options vested and expected to vest at December 31, 2017
 
1,704,394

 
$
43.77

 
6.61
 
$
47,904

Options exercisable at December 31, 2017
 
875,433

 
$
34.17

 
4.95
 
$
33,016

Schedule Of Weighted Average Assumptions for Restricted Stock Units
The following table presents the weighted average assumptions for the years ended December 31:
 
 
2017
 
2016
 
2015
Vesting period
 
3.87 years
 
3.57 years
 
3.82 years
Expected dividend yield
 
1.30%
 
1.08%
 
1.14%
Estimated average fair value per restricted stock unit granted
 
$52.45
 
$55.93
 
$51.07
Summary of Restricted Stock Unit Activity
The following table summarizes the restricted stock unit activity under the Plan:
 
 
Number of  
Shares
 
Weighted Average  
Grant Date Fair Value Per Share 
Restricted stock units outstanding at January 1, 2015
 
658,760

 
$
31.03

Granted
 
207,040

 
51.07

Vested
 
(243,765
)
 
28.09

Forfeited
 
(68,746
)
 
34.57

Restricted stock units outstanding at December 31, 2015
 
553,289

 
38.85

Granted
 
205,734

 
55.93

Vested
 
(235,059
)
 
33.98

Forfeited
 
(57,489
)
 
46.35

Restricted stock units outstanding at December 31, 2016
 
466,475

 
47.23

Granted
 
270,169

 
52.45

Vested
 
(176,654
)
 
42.32

Forfeited
 
(110,515
)
 
48.13

Restricted stock units outstanding at December 31, 2017
 
449,475

 
$
52.07