Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2016

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Weighted Average Option Fair Values and Assumptions

Weighted average option fair values and assumptions for the period are as follows:

	Years Ended December 31,
	2016	2015	2014
Weighted average fair value of grants	$18.56	$20.32	$19.52
Dividend yield	1.69%	1.45%	1.27%
Volatility	29.70%	29.90%	30.36%
Risk-free interest rate	0.53% - 2.49%	0.24% - 2.82%	0.12% - 4.65%
Expected life (in years)	5.91	5.93	5.89

Schedule of Stock Option Activity

A summary of the Company’s stock option activity as of December 31, 2016, and changes during the year ended December 31, 2016 is presented as follows:

Stock Options	Shares		Weighted Average Price		Weighted-Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding at January 1, 2016	2,266,433		$	54.05	6.58	$	51,918,028
Granted	570,250		75.35
Exercised	(675,525	)	44.44
Forfeited/Expired	(173,212	)	72.30
Outstanding at December 31, 2016	1,987,946		$	61.83	6.84	$	56,144,876
Vested and expected to vest at December 31, 2016	1,884,401		$	61.06	6.74	$	54,671,036
Exercisable at December 31, 2016	945,265		$	48.53	5.17	$	39,252,480

Schedule of Compensation Cost for Stock Options

Total compensation cost for stock options is recorded in the Consolidated Statements of Operations as follows:

	Years Ended December 31,
	2016			2015			2014
	(In thousands)
Cost of goods sold	$	427		$	543		$	581
Selling, general and administrative expenses	6,561			6,488			6,245
Total expense before income taxes	6,988			7,031			6,826
Income tax benefit	(2,213		)	(2,208		)	(2,194		)
Total expense after income taxes	$	4,775		$	4,823		$	4,632

Schedule of Restricted Stock Activity

A summary of the Company’s restricted stock activity as of December 31, 2016, and changes during the year ending December 31, 2016 is as follows:

Restricted Stock	Shares		Weighted-Average Grant Date Fair Value
Unvested at January 1, 2016	272,755		$	65.90
Granted	76,970		78.86
Vested	(105,382	)	51.90
Forfeited	(26,445	)	74.61
Unvested at December 31, 2016	217,898		$	76.19

Schedule of Compensation Cost for Restricted Stock

Total compensation cost for restricted stock is recorded in the Consolidated Statements of Operations as follows:

	Years Ended December 31,
	2016			2015			2014
	(In thousands)
Cost of goods sold	$	390		$	341		$	369
Selling, general and administrative expenses	4,401			5,213			6,182
Total expense before income taxes	4,791			5,554			6,551
Income tax benefit	(1,410		)	(1,604		)	(1,630		)
Total expense after income taxes	$	3,381		$	3,950		$	4,921

Schedule of Unvested Cash-settled Restricted Stock Activity

A summary of the Company’s unvested cash-settled restricted stock activity as of December 31, 2016, and changes during the year ending December 31, 2016 is as follows:

Cash-Settled Restricted Stock	Shares		Weighted-Average Fair Value
Unvested at January 1, 2016	110,860		$	76.61
Granted	41,060		90.06
Vested	(36,660	)	72.91
Forfeited	(11,470	)	90.06
Unvested at December 31, 2016	103,790		$	90.06

Schedule of Compensation Cost for Unvested Cash-settled Restricted Stock

Total compensation cost for cash-settled restricted stock is recorded in the Consolidated Statements of Operations as follows:

	Years Ended December 31,
	2016			2015			2014
	(In thousands)
Cost of goods sold	$	764		$	753		$	1,384
Selling, general and administrative expenses	2,224			1,765			2,735
Total expense before income taxes	2,988			2,518			4,119
Income tax benefit	(419		)	(355		)	(603		)
Total expense after income taxes	$	2,569		$	2,163		$	3,516

Schedule of Weighted Average Performance Share Units Fair Values and Assumptions

Weighted average performance share unit fair values and assumptions for the period specified are as follows:

	Years Ended December 31,
	2016	2015	2014
Weighted average fair value of grants	$111.42	$95.07	$94.55
Dividend yield	—%	—%	—%
Volatility	17.99%	19.14%	26.41%
Risk-free interest rate	0.89%	1.01%	0.65%
Expected life (in years)	2.86	2.86	2.88

Schedule of Performance Shares Units Activity

A summary of the Company’s performance share unit activity as of December 31, 2016, and changes during the year ending December 31, 2016 is as follows:

Performance Share Units	Shares		Weighted-Average Grant Date Fair Value
Unvested at January 1, 2016	146,275		$	94.80
Granted	85,130		111.42
Vested	(63,325	)	94.55
Forfeited	(31,025	)	99.52
Unvested at December 31, 2016	137,055		$	104.18

Performance Shares Units

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs

Total compensation cost for performance share units is as follows:

	Years Ended December 31,
	2016			2015			2014
	(In thousands)
Cost of goods sold	$	—		$	—		$	—
Selling, general and administrative expenses	5,559			4,946			3,220
Total expense before income taxes	5,559			4,946			3,220
Income tax benefit	(1,859		)	(1,670		)	(1,081		)
Total expense after income taxes	$	3,700		$	3,276		$	2,139