STOCK-BASED COMPENSATION

3 Months Ended

Mar. 31, 2020

Share-based Payment Arrangement [Abstract]

STOCK-BASED COMPENSATION

Expense

	Three Months Ended March 31,
(in thousands)	2020		2019
Cost of revenues	$	5,152	$	4,519
Selling and marketing	9,718		7,374
Research and development	5,496		4,560
General and administrative	2,809		1,897
	$	23,175	$	18,350
Income tax benefit	$	(4,582)	$	(3,740)

As of March 31, 2020, the Company had $146.3 million of unrecognized stock-based compensation expense, net of estimated forfeitures, which is expected to be recognized over a weighted-average period of 2.3 years.

Grants

The Company granted the following stock-based compensation awards:

	Three Months Ended March 31, 2020
(in thousands)	Shares	Total Fair Value
RSUs	813	$	72,733
Non-qualified stock options	1,540	$	34,988

Common stock issued

During the three months ended March 31, 2020, the Company issued 0.6 million shares of common stock to settle obligations of the Company’s stock-based compensation plans.