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Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2018
Stock-Based Compensation [Abstract]  
Schedule of Assumptions Used to Estimate Fair Value of Stock Options



 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 



 

 

For the year ended December 31,



 

 

2018

 

 

2017

 

 

2016



 

 

 

 

 

 

 

 

 

Risk free interest rate

 

 

2.57% - 2.92%

 

 

1.70% - 1.97%

 

 

1.11% - 1.43%

Dividend yield

 

 

0.7%

 

 

0.0%

 

 

0.0%

Expected volatility

 

 

21.6%

 

 

20.0%

 

 

20.0%

Expected lives

 

 

4.6 years

 

 

4.6 years

 

 

4.7 years



Summary of Stock Option Activity



 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 



 

 

 

Weighted-

 

Weighted-Average

 

 

 



 

 

 

Average

 

Remaining

 

 

 



 

Number

 

Exercise Price

 

Contractual

 

Aggregate



 

of Shares

 

Per Share

 

Life (in years)

 

Intrinsic Value

Outstanding at December 31, 2015

 

3,794 

 

$

84.66 

 

 

 

 

 

Granted

 

1,357 

 

$

96.64 

 

 

 

 

 

Exercised

 

(603)

 

$

46.03 

 

 

 

 

 

Forfeited/canceled

 

(101)

 

$

105.37 

 

 

 

 

 

Outstanding at December 31, 2016

 

4,447 

 

$

93.09 

 

 

 

 

 

Granted

 

1,171 

 

$

115.41 

 

 

 

 

 

Exercised

 

(709)

 

$

80.73 

 

 

 

 

 

Forfeited/canceled

 

(67)

 

$

105.81 

 

 

 

 

 

Outstanding at December 31, 2017

 

4,842 

 

$

100.12 

 

 

 

 

 

Granted

 

941 

 

$

156.55 

 

 

 

 

 

Exercised

 

(926)

 

$

81.73 

 

 

 

 

 

Forfeited/canceled

 

(41)

 

$

123.98 

 

 

 

 

 

Outstanding at December 31, 2018

 

4,816 

 

$

114.48 

 

4.2 

 

$

228,248 

Exercisable at December 31, 2018

 

2,162 

 

$

100.15 

 

3.0 

 

$

133,490 

Unvested at December 31, 2018

 

2,654 

 

$

126.17 

 

5.1 

 

$

94,758 



Additional Information Regarding Options Outstanding And Exercisable



 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 



 

Options Outstanding

 

Options Exercisable



 

 

 

Weighted Average

 

Weighted

 

 

 

Weighted



 

 

 

Remaining

 

Average

 

 

 

Average

Range

 

Outstanding

 

Contractual Life

 

Exercise Price

 

Exercisable

 

Exercise Price



 

(in thousands)

 

(in years)

 

 

 

 

(in thousands)

 

 

 

$0.00 - $90.00

 

406 

 

1.0

 

$

68.96 

 

406 

 

$

68.96 

$90.01 - $110.00

 

1,609 

 

3.5

 

$

96.29 

 

983 

 

$

96.08 

$110.01 - $145.00

 

1,871 

 

4.4

 

$

119.15 

 

773 

 

$

121.69 

$145.01 - $175.00

 

930 

 

6.2

 

$

156.55 

 

 —

 

$

0.00 



 

4,816 

 

 

 

 

 

 

2,162 

 

 

 



Summary of Activity of Options Outstanding not yet Vested



 

 

 

 

 



 

 

 

 

 



 

 

 

Weighted-



 

 

 

Average



 

Number

 

Fair Value



 

of Shares

 

Per Share



 

(in thousands)

 

 

 

Unvested as of December 31, 2017

 

2,860 

 

$

22.08 

Shares granted

 

941 

 

$

33.01 

Vesting during period

 

(1,104)

 

$

21.74 

Forfeited/canceled

 

(43)

 

$

26.32 

Unvested as of December 31, 2018

 

2,654 

 

$

26.05 



Summary of Restricted Stock Unit Activity



 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

Weighted-Average



 

 

 

 

 

 

Number of

 

Grant Date Fair



 

 

 

 

 

 

Shares

 

Value per Share



 

 

 

 

 

 

(in thousands)

 

 

 

Outstanding at December 31, 2017

 

 

 

 

 

 

328 

 

$

110.20 

Granted

 

 

 

 

 

 

138 

 

$

156.61 

Vested

 

 

 

 

 

 

(129)

 

$

110.93 

Forfeited/canceled

 

 

 

 

 

 

(13)

 

$

135.22 

Outstanding at December 31, 2018

 

 

 

 

 

 

324 

 

$

128.69 



Schedule of Non-Cash Compensation Expense



 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 



 

 

For the year ended December 31,



 

2018

 

2017

 

2016



 

(in thousands)

Cost of revenues

 

$

1,182 

 

$

1,013 

 

$

418 

Selling, general and administrative

 

 

41,145 

 

 

37,236 

 

 

32,497 

Total cost of non-cash compensation included

 

 

 

 

 

 

 

 

 

in loss before provision for income taxes

 

 

42,327 

 

 

38,249 

 

 

32,915 

Amount of income tax recognized in earnings

 

 

 —

 

 

 —

 

 

 —

Amount charged against loss

 

$

42,327 

 

$

38,249 

 

$

32,915