Stockholders' Equity

3 Months Ended

Mar. 31, 2021

Stockholders' Equity Note [Abstract]

Stockholders’ Equity

Share Repurchase Program

Effective November 2018, the board of directors of the Company authorized a $1.1 billion share repurchase program through December 2021. During the three months ended March 31, 2021, the Company repurchased 0.6 million shares of its common stock for $58.2 million. The Company's goals for the share repurchase program are to offset the dilution created by its employee equity compensation programs over time and provide the flexibility to return capital to shareholders as business and market conditions warrant.

Stock-Based Compensation

The following table summarizes stock-based compensation included in the Company’s consolidated statements of income for the three months ended March 31, 2021 and 2020 (in thousands):


	For the Three Months Ended March 31,
	2021		2020
Cost of revenue	$	7,096	$	5,736
Research and development	18,369		12,065
Sales and marketing	12,478		15,735
General and administrative	16,362		13,957
Total stock-based compensation	54,305		47,493
Provision for income taxes	(13,044)		(12,636)
Total stock-based compensation, net of income taxes	$	41,261	$	34,857

In addition to the amounts of stock-based compensation reported in the table above, the Company’s consolidated statements of income for the three months ended March 31, 2021 and 2020 include stock-based compensation reflected as a component of amortization of capitalized internal-use software of $7.7 million and $7.6 million, respectively, before taxes.