Stockholders' Equity

9 Months Ended

Sep. 30, 2017

Stockholders' Equity Note [Abstract]

Stockholders' Equity

Stockholders’ Equity

Share Repurchase Program

In February 2016, the Board of Directors authorized a $1.0 billion repurchase program effective from February 2016 through December 2018. The Company's goal for the share repurchase program is to offset the dilution created by its employee equity compensation programs and provide the flexibility to return capital to shareholders as business and market conditions warrant. During the nine months ended September 30, 2017, the Company repurchased 5.8 million shares of its common stock for $306.6 million.

Stock-Based Compensation

The following table summarizes stock-based compensation included in the Company’s consolidated statements of income for the three and nine months ended September 30, 2017 and 2016 (in thousands):

	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2017			2016			2017			2016
Cost of revenue	$	5,296		$	4,701		$	15,055		$	13,224
Research and development	10,100			7,727			28,743			20,917
Sales and marketing	15,672			14,729			44,780			40,340
General and administrative	10,780			11,495			33,525			30,823
Total stock-based compensation	41,848			38,652			122,103			105,304
Provision for income taxes	(11,211		)	(11,664		)	(41,417		)	(36,185		)
Total stock-based compensation, net of income taxes	$	30,637		$	26,988		$	80,686		$	69,119

In addition to the amounts of stock-based compensation reported in the table above, the Company’s consolidated statements of income for the three and nine months ended September 30, 2017 include stock-based compensation reflected as a component of amortization of capitalized internal-use software of $5.1 million and $12.5 million, respectively, before taxes. For the three and nine months ended September 30, 2016, the Company's consolidated statements of income include stock-based compensation reflected as a component of amortization of capitalized internal-use software of $3.5 million and $10.4 million, respectively, before taxes.