Stock-based Compensation

3 Months Ended

Mar. 31, 2012

Share-based Compensation [Abstract]

Stock-based Compensation

Stock-based Compensation

Stock-based compensation expense and related tax benefit recognized in the Consolidated Statements of Income are as follows (in thousands):

	Three Months Ended March 31,
	2012			2011
Cost of goods sold	$	704		$	641
Research and development	1,177			1,486
Selling, general and administrative	3,654			4,161
Stock-based compensation expense before income taxes	5,535			6,288
Income tax benefit	(1,674		)	(1,790		)
Total stock-based compensation expense after income taxes	$	3,861		$	4,498

Stock-based compensation costs capitalized in inventory are as follows (in thousands):

	March 31,
	2012		2011
Capitalized in inventory	$	932	$	965

As of March 31, 2012, the Company had $26.2 million of total unrecognized stock-based compensation costs, net of estimated forfeitures, to be recognized over a weighted average period of 1.7 years.

Note 2. Stock-based Compensation - (Continued)

The fair value of stock-based compensation awards granted and vested, and the intrinsic value of options exercised during the period were (in thousands, except per share amounts):

	Three Months Ended March 31,
	2012		2011
Stock Option Awards:
Total fair value of awards vested	$	15	$	2,933
Total intrinsic value of options exercised	$	1,420	$	4,150
Restricted Stock Unit Awards:
Weighted average grant date fair value per share	$	24.10	$	32.18
Total fair value of awards granted	$	51	$	186
Total fair value of awards vested	$	340	$	850

The total amount of cash received from the exercise of stock options in the three months ended March 31,2012 and 2011 was $0.9 million and $7.0 million, respectively, and the related tax benefit realized from the exercise of the stock options was $0.4 million and $1.7 million, respectively.

Information with respect to stock option activity is as follows:

	Shares (in  thousands)		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value (in thousands)
Outstanding at December 31, 2011	6,570		$	20.73	5.0
Granted	—		—
Exercised	(88	)	9.90
Forfeited	(91	)	25.64
Outstanding at March 31, 2012	6,391		$	20.81	4.8	$	40,902
Exercisable at March 31, 2012	5,495		$	19.15	4.2	$	40,900
Vested and expected to vest at March 31, 2012	6,347		$	20.73	4.8	$	40,902

Information with respect to restricted stock unit activity is as follows:

	Shares (in  thousands)		Weighted Average Grant Date Fair Value
Outstanding at December 31, 2011	1,305		$	30.89
Granted	2		24.10
Vested and distributed	(13	)	25.82
Forfeited	(51	)	32.96
Outstanding at March 31, 2012	1,243		$	31.04

There were no shares issued under the 2010 Employee Stock Purchase Plan during the three months ended March 31, 2012.