Stock Incentive Plans (Tables)

12 Months Ended

Dec. 31, 2015

Stock-Based Compensation Expense Related to Stock Options, RSUs and Restricted Stock

The following table summarizes stock-based compensation expense related to stock options, RSUs and restricted stock for the years ended December 31, 2015, 2014 and 2013, which was recognized as follows:

(In thousands)	2015			2014			2013
Stock-based compensation expense included in cost of sales	$	280		$	479		$	465
Selling, general and administrative expense		3,261			4,185			4,443
Research and development expense		3,171			3,899			4,165
Stock-based compensation expense included in operating expenses		6,432			8,084			8,608
Total stock-based compensation expense		6,712			8,563			9,073
Tax benefit for expense associated with non-qualified options		(862	)		(1,157	)		(1,298	)
Total stock-based compensation expense, net of tax	$	5,850		$	7,406		$	7,775

Summary of Stock Options Outstanding

The following table is a summary of our stock options outstanding as of December 31, 2014 and 2015 and the changes that occurred during 2015:

(In thousands, except per share amounts)	Number of Options			Weighted Average Exercise Price		Weighted Avg. Remaining Contractual Life in Years		Aggregate Intrinsic Value
Options outstanding, December 31, 2014		6,981		$	23.62		6.45	$	10,625
Options granted		1,204		$	15.35
Options exercised		(60	)	$	16.00
Options forfeited		(289	)	$	20.86
Options expired		(728	)	$	27.75
Options outstanding, December 31, 2015		7,108		$	21.97		6.42	$	3,284
Options vested and expected to vest, December 31, 2015		6,954		$	22.09		6.35	$	3,094
Options exercisable, December 31, 2015		4,506		$	24.29		4.93	$	978

Stock Options Outstanding

The following table further describes our stock options outstanding as of December 31, 2015:

	Options Outstanding						Options Exercisable
Range of Exercise Prices	Options Outstanding at 12/31/15 (In thousands)		Weighted Avg. Remaining Contractual Life in Years		Weighted Average Exercise Price		Options Exercisable at 12/31/15 (In thousands)		Weighted Average Exercise Price
$14.88 – 16.96		1,628		8.03	$	15.32		430	$	15.27
$16.97 – 18.97		1,798		8.02	$	18.14		827	$	17.63
$18.98 – 23.46		1,290		2.65	$	23.08		1,288	$	23.08
$23.47 – 29.71		967		7.43	$	24.15		536	$	24.38
$29.72 – 41.92		1,425		5.29	$	31.94		1,425	$	31.94
		7,108						4,506

Summary of RSUs and Restricted Stock Outstanding

The following table is a summary of our RSUs and restricted stock outstanding as of December 31, 2014 and 2015 and the changes that occurred during 2015:

(In thousands, except per share amounts)	Number of shares			Weighted Average Grant Date Fair Value
Unvested RSUs and restricted stock outstanding, December 31, 2014		104		$	22.81
RSUs and restricted stock granted		57		$	17.47
RSUs and restricted stock vested		(38	)	$	20.71
RSUs and restricted stock forfeited		(12	)	$	23.10
Adjustments to shares granted due to shares earned at vesting		(5	)	$	19.90
Unvested RSUs and restricted stock outstanding, December 31, 2015		106		$	21.09

Stock Options [Member]

Summary of Weighted-Average Assumptions and Value of Options Granted

The weighted-average estimated fair value of stock options granted to employees during the years ended December 31, 2015, 2014 and 2013 was $4.28 per share, $6.31 per share and $8.35 per share, respectively, with the following weighted-average assumptions:

	2015			2014			2013
Expected volatility		34.57	%		39.05	%		39.92	%
Risk-free interest rate		1.81	%		1.79	%		1.71	%
Expected dividend yield		2.35	%		1.90	%		1.52	%
Expected life (in years)		6.23			6.33			6.36

Restricted Stock Units (RSUs) [Member]

Summary of Weighted-Average Assumptions and Value of Options Granted

The RSU pricing model also requires the use of several significant assumptions that impact the fair value estimate. The estimated fair value of the RSUs granted to employees during the years ended December 31, 2015, 2014 and 2013 was $17.64 per share, $22.11 per share and $27.72 per share, respectively, with the following assumptions:

	2015			2014			2013
Expected volatility		31.34	%		36.40	%		38.83	%
Risk-free interest rate		1.20	%		0.96	%		0.61	%
Expected dividend yield		2.35	%		1.89	%		1.52	%