XML 35 R24.htm IDEA: XBRL DOCUMENT v3.5.0.2
Stockholders' Equity (Tables)
6 Months Ended
Jun. 30, 2016
Stockholders' Equity and Stock-based Compensation Disclosure [Abstract]  
Summary of Activity Related to Stock Option Plans
A summary of the activities related to the Company’s stock option plans is as follows:
 
 
 
Options Outstanding
 
 
 
 
 
Shares
Available
for Grant
 
Number of
Shares
 
Weighted-
Average
Exercise Price
(per share)
 
Weighted-Average Remaining
Contractual Term
(in years)
 
Aggregate
Intrinsic Value
(in thousands)
Balances as of December 31, 2015
16,845,316

 
20,995,756

 
$
32.39

 
 
 
 
Granted
(1,747,540
)
 
1,747,540

 
99.75

 
 
 
 
Exercised


 
(784,948
)
 
9.85

 
 
 
 
Balances as of June 30, 2016
15,097,776

 
21,958,348

 
$
38.55

 
6.2
 
$
1,197,223

Vested and exercisable as of June 30, 2016
 
 
21,958,348

 
$
38.55

 
6.2
 
$
1,197,223

Summary of Amounts Related to Option Exercises
A summary of the amounts related to option exercises, is as follows:
 
Three Months Ended
Six Months Ended
 
June 30,
2016
June 30,
2015
 
June 30,
2016
June 30,
2015
 
(in thousands)
Total intrinsic value of options exercised
$
37,268

$
114,783

 
$
68,725

$
195,621

Cash received from options exercised
$
4,232

$
23,804

 
$
7,768

$
34,720

Summary of Assumptions Used to Value Stock Option Grants Using Lattice-Binomial Model
The following table summarizes the assumptions used to value stock option grants using the lattice-binomial model and the valuation data:
 
Three Months Ended
 
Six Months Ended
 
June 30,
2016
 
June 30,
2015
 
June 30,
2016
 
June 30,
2015
Dividend yield
%
 
%
 
%
 
%
Expected volatility
45
%
 
36
%
 
45% - 50%

 
36
%
Risk-free interest rate
1.83
%
 
2.05
%
 
1.83% - 2.04%

 
2.03% - 2.05%

Suboptimal exercise factor
2.48

 
2.47

 
2.48

 
2.47 - 2.48

Weighted-average fair value (per share)
$
48.38

 
$
32.52

 
$
49.52

 
$
29.24

Total stock-based compensation expense (in thousands)
$
44,112

 
$
28,590

 
$
86,534

 
$
56,031

Total income tax impact on provision (in thousands)
$
16,571

 
$
10,796

 
$
32,534

 
$
21,188