STOCK BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock-Based Compensation Expense Resulting from Stock Option Awards, Restricted stock units ("RSU") and ESPP

The following table presents the total stock-based compensation expense resulting from stock option awards, restricted stock units ("RSUs"), and the ESPP included in the Condensed Consolidated Statements of Income:

In thousands
	Three Months Ended March 31,
	2015		2014
Cost of revenues – stock option plan	$	23	$	7
Selling, general and administrative – stock option plan	4,729		4,041
Selling, general and administrative – RSUs	346		315
Selling, general and administrative – ESPP	389		309
Total pre-tax expense	$	5,487	$	4,672

Tax Benefits Related to Stock Compensation

The following table sets forth the tax benefits related to stock compensation:

In thousands
	Three Months Ended March 31,
	2015		2014
Tax benefit recognized in Statement of Income	$	2,468	$	909
Excess tax benefit realized	8,222		3,734

Stock Option Activity

Stock option activity for the three months ended March 31, 2015, is summarized as follows:

	Number of Options		Weighted Average Exercise Price per Share		Weighted Average Remaining Contractual Life	Total Aggregate Intrinsic Value
					(in years)	(in thousands)
Outstanding at beginning of year	5,377,857		$	80.88
Granted	860,534		130.33
Exercised	(425,175	)	65.19
Forfeited	(66,154	)	105.30
Canceled or expired	(1,100	)	56.90
Outstanding at March 31, 2015	5,745,962		$	89.17	6.27	$	294,519
Exercisable at March 31, 2015	3,133,658		$	71.77	5.37	$	215,171
Vested and expected to vest at March 31, 2015	5,476,973		$	87.92

Intrinsic Value of Options Exercised

in the quarter ended March 31:

In thousands
	Three Months Ended March 31,
	2015		2014
Total exercise intrinsic value of options exercised	$	29,525	$	11,796

Assumptions used in Black-Scholes Model

The estimated fair value of stock options at the time of the grant using the Black-Scholes model option pricing model was as follows:

	Three Months Ended March 31,
	2015			2014
Stock options granted (shares)	860,534			854,778
Weighted average fair value at grant date (per share)	$	22.84		$	21.28
Assumptions:
Expected term (in years)	4.79			4.78
Expected volatility	16.62		%	17.68		%
Expected dividend yield	—		%	—		%
Risk free interest rate	1.48		%	1.45		%

Restricted Stock Units Activity

A summary of the status of our non-vested RSUs and changes during the three months ended March 31, 2015, are as follows:

	Number of Units		Weighted Average Grant Date Fair Value		Total Aggregate Intrinsic Value
					(in thousands)
Non-vested at beginning of year	63,600		$	96.04
Granted	10,124		130.19
Vested and released	—		—
Forfeited	(1,470	)	100.77
Non-vested at March 31, 2015	72,254		$	100.73	$	10,147