XML 33 R29.htm IDEA: XBRL DOCUMENT v2.4.1.9
Share-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2014
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary of Weighted Average Assumptions Used for Options Granted

The following weighted average assumptions were used for options granted:

 

 

 

Years ended December 31,

 

 

 

 

2014

 

 

 

2013

 

 

 

2012

 

 

Expected life (in years)

 

 

6.0

 

 

 

 

6.4

 

 

 

 

6.7

 

 

Expected volatility

 

 

30.9

 

%

 

 

32.4

 

%

 

 

32.6

 

%

Risk-free interest rate

 

 

1.8

 

%

 

 

1.4

 

%

 

 

1.0

 

%

Expected forfeiture rate

 

 

3

 

%

 

 

3

 

%

 

 

3

 

%

 
Summary of Share-Based Compensation Expense Related to Share-Based Awards

The following table summarizes share-based compensation expense related to share-based awards which is recorded in the statements of comprehensive income:

 

 

 

Years ended December 31,

 

 

 

2014

 

 

2013

 

 

2012

 

Cost of software services, maintenance and subscriptions

 

$

2,177

 

 

$

1,509

 

 

$

1,084

 

Selling, general and administrative expenses

 

 

12,642

 

 

 

10,144

 

 

 

6,327

 

Total share-based compensation expenses

 

 

14,819

 

 

 

11,653

 

 

 

7,411

 

Tax benefit

 

 

(4,237

)

 

 

(3,363

)

 

 

(2,040

)

Net decrease in net income

 

$

10,582

 

 

$

8,290

 

 

$

5,371

 

 
Stock Option Activity

Options granted, exercised, forfeited and expired are summarized as follows:

 

 

 

Number of

Shares

 

 

Weighted

Average Exercise

Price

 

 

Weighted

Average

Remaining

Contractual Life

(Years)

 

 

Aggregate

Intrinsic Value

 

Outstanding at December 31, 2011

 

 

6,059

 

 

$

15.31

 

 

 

 

 

 

 

 

 

Granted

 

 

930

 

 

 

43.53

 

 

 

 

 

 

 

 

 

Exercised

 

 

(1,218

)

 

 

10.22

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(60

)

 

 

28.07

 

 

 

 

 

 

 

 

 

Outstanding at December 31, 2012

 

 

5,711

 

 

 

20.86

 

 

 

 

 

 

 

 

 

Granted

 

 

1,453

 

 

 

67.08

 

 

 

 

 

 

 

 

 

Exercised

 

 

(1,443

)

 

 

12.68

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(1

)

 

 

68.17

 

 

 

 

 

 

 

 

 

Outstanding at December 31, 2013

 

 

5,720

 

 

 

34.66

 

 

 

 

 

 

 

 

 

Granted

 

 

675

 

 

 

94.15

 

 

 

 

 

 

 

 

 

Exercised

 

 

(855

)

 

 

17.17

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(3

)

 

 

37.44

 

 

 

 

 

 

 

 

 

Outstanding at December 31, 2014

 

 

5,537

 

 

 

44.61

 

 

 

7

 

 

$

358,897

 

Exercisable at December 31, 2014

 

 

2,017

 

 

 

24.85

 

 

 

5

 

 

$

170,633

 

 

Other information pertaining to option activity was as follows during the twelve months ended December 31:

 

 

 

2014

 

 

2013

 

 

2012

 

Weighted average grant-date fair value of stock options

   granted

 

$

31.32

 

 

$

23.27

 

 

$

15.24

 

Total intrinsic value of stock options exercised

 

 

69,768

 

 

 

99,393

 

 

 

40,589