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Stockholders' Equity (Tables)
12 Months Ended
Dec. 31, 2013
Earnings Per Common Share  
Schedule of components of basic and diluted earnings per share

The components of basic and diluted earnings per share are as follows (in thousands, except per share amounts):

 
  Year Ended December 31,  
 
  2013   2012   2011  

Numerator:

                   

Income from continuing operations

  $ 174,560   $ 304,442   $ 217,243  

Income from discontinued operations

            625  
               

Net income

  $ 174,560   $ 304,442   $ 217,868  
               
               

Denominator:

                   

Weighted average outstanding shares—basic

    50,076     52,093     57,163  

Effect of dilutive securities(1):

                   

Convertible notes

    1,736     218     569  

Warrants

    276         263  

Stock options and employee stock purchase plan

    1,143     969     1,400  
               

Weighted average shares—diluted

    53,231     53,280     59,395  
               
               

Earnings per common share:

                   

Basic

                   

Continuing operations

  $ 3.49   $ 5.84   $ 3.80  

Discontinued operations

    0.00     0.00     0.01  
               

Net income per basic common share

  $ 3.49   $ 5.84   $ 3.81  
               
               

Diluted

                   

Continuing operations

  $ 3.28   $ 5.71   $ 3.66  

Discontinued operations

    0.00     0.00     0.01  
               

Net income per diluted common share

  $ 3.28   $ 5.71   $ 3.67  
               
               

Stock options and warrants excluded from calculation(2)

    11,210     11,862     16,299  
               
               

(1)
Calculated using the treasury stock method.

(2)
Certain stock options and warrants have been excluded from the computation of diluted earnings per share because their impact would be anti-dilutive.
Stock Options
 
Stock Option Plan  
Summary of assumptions to estimate the grant date fair value of stock options

The following weighted-average assumptions were used in estimating the fair value of stock options granted to employees (we did not grant any stock options during the year ended December 31, 2011):

 
  Year Ended
December 31,
 
 
  2013   2012  

Expected volatility

    33.0 %   41.6 %

Risk-free interest rate

    1.8 %   0.7 %

Expected term of options (in years)

    5.0     5.0  

Expected forfeiture rate

    0.0 %   0.0 %

Expected dividend yield

    0.0 %   0.0 %
Schedule of stock option activity

  Options   Weighted-
Average
Exercise
Price
  Weighted
Average
Remaining
Contractual
Term
(in Years)
  Aggregate
Intrinsic
Value
(in 000s)
 

Outstanding at January 1, 2013

    4,551,050   $ 38.95              

Granted

    1,000,000     113.08              

Exercised

    (797,613 )   30.12              

Forfeited

    (3,988 )   10.48              

Outstanding and exercisable at December 31, 2013

    4,749,449   $ 56.06     5.7   $ 270,801  
Schedule of share-based compensation expense related to employee stock options

Total share-based compensation expense relating to employee stock options is as follows (in thousands):

 
  Year Ended December 31,  
 
  2013   2012   2011  

Research and development

  $   $   $ 196  

Selling, general and administrative

    36,097     3,024     315  
               

Share-based compensation expense before taxes

    36,097     3,024     511  

Related income tax benefit

    (13,566 )   (1,115 )   (189 )
               

Share-based compensation expense, net of taxes

  $ 22,531   $ 1,909   $ 322  
               
               

Share-based compensation capitalized as part of inventory

  $   $   $ 15  
               
               
Summary of employee and non-employee stock option exercise data

Employee and non-employee stock option exercise data is summarized below (dollars in thousands):

 
  Year Ended December 31,  
 
  2013   2012   2011  

Number of options exercised

    876,115     575,944     837,690  

Cash received from options exercised

  $ 26,620   $ 14,290   $ 24,398  

Total intrinsic value of options exercised

  $ 37,530   $ 15,508   $ 30,644  

Tax benefits realized from options exercised

  $ 9,299   $ 3,054   $ 11,347