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 was authorized and available for repurchase in 2018 was $750.0 million. Subsequently, effective November 2018, the Board authorized an additional $1.1 billion repurchase program through December 2021.

During the three and nine months ended September 30, 2018, the Company repurchased 5.9 million and 8.3 million shares of its common stock, respectively, for $440.4 million and $625.9 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 nine months ended September 30, 2018 and 2017 (in thousands):



	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2018			2017			2018			2017
Cost of revenue	$	5,494		$	5,296		$	16,343		$	15,055
Research and development	11,249			10,100			32,684			28,743
Sales and marketing	16,835			15,672			49,543			44,780
General and administrative	13,054			10,780			40,245			33,525
Total stock-based compensation	46,632			41,848			138,815			122,103
Provision for income taxes	(7,802		)	(11,211		)	(37,692		)	(41,417		)
Total stock-based compensation, net of income taxes	$	38,830		$	30,637		$	101,123		$	80,686

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, 2018 include stock-based compensation reflected as a component of amortization of capitalized internal-use software of $6.6 million and $18.1 million, respectively, before taxes and, 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.