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STOCK BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2016

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

The following table sets forth the information related to RSUs for the years ended December 31:

	2016		2015		2014
Total aggregate intrinsic value of outstanding units (in thousands)	$	8,847	$	8,441	$	8,337
Per share fair value of units granted		106.01		114.27		115.67

Stock-Based Compensation Expense Resulting from Stock Option Awards, RSUs and ESPP

The following table presents the total stock-based compensation expense resulting from stock option awards, RSUs, and the ESPP included on the Consolidated Statements of Income:

In thousands
	Years Ended December 31,
	2016		2015		2014
Cost of revenues - stock option plan	$	63	$	92	$	52
Selling, general and administrative - stock option plan		17,344		18,541		15,214
Selling, general and administrative - RSUs		896		1,484		1,267
Selling, general and administrative - ESPP		2,152		1,633		1,240
Total pre-tax expense	$	20,455	$	21,750	$	17,773

Stock Option Activity

Stock option activity for the year ended December 31, 2016, is summarized as follows:

	Number of Options			Weighted Average Exercise Price per Share
Outstanding at beginning of year		5,334,803		$	92.02
Granted		1,100,492			110.26
Exercised		(573,799	)		65.71
Forfeited		(339,889	)		115.07
Canceled or expired		(52,875	)		104.98
Outstanding at December 31, 2016		5,468,732		$	96.90
Exercisable at December 31, 2016		2,999,940		$	83.60

Intrinsic Value of Options Exercised

The following table sets forth the intrinsic value of options exercised for the years ended December 31:

In thousands
	2016		2015		2014
Total exercise intrinsic value of options exercised	$	25,974	$	62,625	$	65,884

The following table sets forth the information related to outstanding and exercisable options for the years ended December 31:

	2016		2015		2014
Weighted average remaining contractual life of outstanding options (in years)		5.25		5.70		6.10
Total aggregate intrinsic value of outstanding options (in thousands)	$	25,100	$	162,400	$	269,900
Weighted average remaining contractual life of exercisable options (in years)		4.40		4.70		5.10
Total aggregate intrinsic value of exercisable options (in thousands)	$	25,100	$	130,600	$	178,300

Options Outstanding and Exercisable by Price Range

Options outstanding and exercisable at December 31, 2016 by price range are presented below:

	Options Outstanding						Options Exercisable
Range of Exercise Price	Shares		Outstanding Average Remaining Life in Years		Weighted Average Exercise Price		Shares		Weighted Average Exercise Price
$38.57 - $51.55		688,413		2.54	$	49.22		688,413	$	49.22
$52.05 - $85.00		790,945		3.37		74.35		776,730		74.21
$85.02 - $87.04		547,178		5.04		86.25		406,676		86.26
$87.26 - $95.74		112,302		4.98		90.15		98,496		89.79
$95.87 - $95.87		651,362		6.07		95.87		357,219		95.87
$96.11 - $110.14		96,758		7.57		101.37		20,460		101.12
$111.12 - $111.12		847,751		7.10		111.12		325		111.12
$111.20 - $115.54		135,502		6.48		112.19		99,661		112.25
$115.69 - $115.69		660,918		5.12		115.69		268,217		115.69
$115.82 - $141.56		937,603		6.42		129.90		283,743		129.58
$38.57 - $141.56		5,468,732		5.25	$	96.90		2,999,940	$	83.60

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:

	Years Ended December 31,
	2016			2015			2014
Stock options granted (shares)		1,100,492			1,056,490			981,583
Weighted average fair value at grant date	$	20.16		$	22.90		$	21.31
Assumptions:
Expected term (in years)		4.77			4.79			4.76
Expected volatility		18.28	%		16.71	%		17.23	%
Expected dividend yield		—	%		—	%		—	%
Risk free interest rate		1.21	%		1.47	%		1.53	%

Restricted Stock Units Activity

A summary of the status of our non-vested RSUs and changes during the year ended December 31, 2016, are as follows:

	Number of Units			Weighted Average Grant Date Fair Value
Non-vested at beginning of year		71,451		$	101.29
Granted		78,237			106.01
Forfeited		(34,850	)		102.25
Non-vested at December 31, 2016		114,838			104.22