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Basis of Presentation (Tables)
 6 Months Ended
Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Reconciliation of basic earnings per share ("EPS") to diluted EPS
The following is a reconciliation of basic earnings per common share to diluted earnings per share for the three months and six months ended June 30, 2016 and 2015, respectively:
 
 
Three Months Ended 
 June 30,
 
Six Months Ended 
 June 30,
(in thousands, except per share amounts)
2016
 
2015
 
2016
 
2015
Net income available to common stockholders
$
26,201

 
$
21,509

 
$
42,544

 
$
31,560

Basic weighted-average shares outstanding
48,399

 
49,254

 
48,353

 
49,236

Dilutive effect of potential common stock equivalents — stock options and restricted stock units
206

 
219

 
180

 
209

Diluted weighted-average shares outstanding
48,605

 
49,473

 
48,533

 
49,445

Earnings per common share:
 

 
 

 
 

 
 

Basic
$
0.54

 
$
0.44

 
$
0.88

 
$
0.64

Diluted
$
0.54

 
$
0.43

 
$
0.88

 
$
0.64

Potentially dilutive securities excluded from earnings per diluted share because their effect is anti-dilutive
—

 
—

 
—

 
—
Stock option and restricted stock unit activity of the entity
The following table represents the Company’s stock option and restricted stock unit activity for the three months and six months ended June 30, 2016 and 2015, respectively:
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
(in thousands)
2016
 
2015
 
2016
 
2015
Stock-based compensation expense recognized in operating expenses
$
3,373

 
$
2,991

 
$
5,853

 
$
6,075

Less: Tax benefit of stock-based compensation expense in provision for income taxes
1,204

 
1,082

 
2,122

 
2,139

Stock-based compensation expense, net of tax
$
2,169

 
$
1,909

 
$
3,731

 
$
3,936

Fair value of shares vested
$
3,601

 
$
3,211

 
$
5,951

 
$
5,995

Proceeds to the Company from the exercise of stock-based compensation
$
1,512

 
$
92

 
$
2,525

 
$
5,576

Tax effect from the exercise of stock-based compensation, including shortfall tax benefits
$
5

 
$
(2
)
 
$
19

 
$
(186
)
 
 
At June 30,
(in thousands)
2016
 
2015
Stock-based compensation cost capitalized in inventory
$
480

 
$
500
Summary of financial instruments
The balances of the Company’s primary financial instruments at the dates indicated were as follows:
 
 
At June 30,
 
At December 31,
(in thousands)
2016
 
2015
 
2015
United States Treasury securities and money market funds
$
35,043

 
$
92,875

 
$
76,047
Schedule of effective tax rates and income tax expense
The following table presents the Company’s effective tax rates and income tax expense for the three months and six months ended June 30, 2016 and 2015, respectively:
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
(in thousands, except percentages)
2016
 
2015
 
2016
 
2015
Effective tax rate
35.8
%
 
38.5
%
 
36.7
%
 
38.4
%
Provision for income taxes
$
14,640

 
$
13,446

 
$
24,703

 
$
19,637