STOCK BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2017

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

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

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

In thousands
	Three Months March 31,
	2017		2016
Cost of revenues - stock option plan	$	13	$	15
Selling, general and administrative - stock option plan		4,080		4,752
Selling, general and administrative - RSUs		1,401		559
Selling, general and administrative - PSUs		188		—
Selling, general and administrative - ESPP		317		779
Total pre-tax expense	$	5,999	$	6,105

Stock Option Activity

Stock option activity for the three months ended March 31, 2017, 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 as of January 1, 2017		5,468,732		$	96.90
Granted		425,599			83.19
Exercised		(90,856	)		48.52
Forfeited		(35,755	)		113.59
Cancelled or expired		(44,687	)		98.31
Outstanding as of March 31, 2017		5,723,033		$	96.53		5.28	$	27,811
Exercisable as of March 31, 2017		3,598,309		$	89.19		4.52	$	27,740

Intrinsic Value of Options Exercised

The following table sets forth the intrinsic value of options exercised for the three months ended March 31:

In thousands
	Three Months Ended March 31,
	2017		2016
Total intrinsic value of options exercised	$	2,908	$	13,229

Assumptions Used in Black-Scholes Option Pricing Model

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

	Three Months Ended March 31,
	2017			2016
Stock options granted (shares)		425,599			1,008,569
Weighted average fair value at grant date	$	19.53		$	20.19
Assumptions:
Expected term (in years)		4.82			4.76
Expected volatility		22.66	%		18.02	%
Expected dividend yield		—	%		—	%
Risk free interest rate		1.91	%		1.26	%

Summary of RSU Activity

A summary of our RSU activity during the three months ended March 31, 2017, is as follows:

	Number of Units			Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Life	Total Aggregate Intrinsic Value
Outstanding as of January 1, 2017		114,838		$	104.22
Granted		183,940			83.24
Vested and released		(30,000	)		76.87
Forfeited		(1,627	)		110.46
Outstanding as of March 31, 2017		267,151		$	92.68	2.56	$	24,760