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. In March 2018, the Company announced that its Board had increased its share repurchase authorization by $416.7 million, such that the amount that is authorized and available for repurchase in 2018 is $750.0 million. The Company's goal for the share repurchase program is to return capital to shareholders, as business and market conditions warrant, and to offset the dilution created by its employee equity compensation programs.

During the three and six months ended June 30, 2018, the Company repurchased 2.2 million and 2.5 million shares of its common stock, respectively, for $165.7 million and $185.5 million, respectively.

Stock-Based Compensation

The following table summarizes stock-based compensation included in the Company’s consolidated statements of income for the three and six months ended June 30, 2018 and 2017 (in thousands):



	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2018			2017			2018			2017
Cost of revenue	$	5,553		$	5,074		$	10,849		$	9,759
Research and development	10,926			9,614			21,435			18,643
Sales and marketing	16,749			13,951			32,708			29,108
General and administrative	14,269			12,630			27,191			22,745
Total stock-based compensation	47,497			41,269			92,183			80,255
Provision for income taxes	(18,802		)	(12,221		)	(29,890		)	(30,206		)
Total stock-based compensation, net of income taxes	$	28,695		$	29,048		$	62,293		$	50,049

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 six months ended June 30, 2018 include stock-based compensation reflected as a component of amortization of capitalized internal-use software of $5.8 million and $11.4 million, respectively, before taxes and, for the three and six months ended June 30, 2017, include stock-based compensation reflected as a component of amortization of capitalized internal-use software of $3.9 million and $7.4 million, respectively, before taxes.