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Stockholders' Equity
9 Months Ended
Sep. 30, 2011
Stockholders' Equity Note [Abstract] 
Stockholders' Equity
Stockholders’ Equity
Stock Repurchase Program
On April 29, 2009, the Company announced that its Board of Directors had authorized a stock repurchase program permitting purchases of up to $100.0 million of the Company’s common stock from time to time on the open market or in privately negotiated transactions. On April 28, 2010, the Company announced that its Board of Directors had authorized an extension of the stock repurchase program permitting purchases of an additional $150.0 million of the Company’s common stock from time to time over the next twelve months commencing in May 2010 on the open market or in privately negotiated transactions. The unused balance from the May 2010 extension was not carried forward for future purchases. On April 19, 2011, the Company’s Board of Directors authorized a new program authorizing up to an additional $150.0 million of repurchases over the next twelve months commencing in May 2011. On August 8, 2011, the Company's Board of Directors authorized an additional $250.0 million of stock repurchases over the twelve-month period that commenced in May 2011. The total authorized funding for stock repurchases in that twelve-month period is now $400.0 million. The timing and amount of any shares repurchased will be determined by the Company’s management based on its evaluation of market conditions and other factors. Repurchases may also be made under a Rule 10b5-1 plan, which would permit the Company to repurchase shares when the Company might otherwise be precluded from doing so under insider trading laws. Subject to applicable securities laws, the Company may choose to suspend or discontinue the repurchase program at any time.
During the three and nine months ended September 30, 2011, the Company repurchased 6.8 million and 9.4 million shares, respectively, of its common stock for $155.1 million and $248.4 million, respectively. During the three and nine months ended September 30, 2010, the Company repurchased 0.5 million and 1.9 million shares, respectively, of its common stock for $22.7 million and $65.1 million, respectively. As of September 30, 2011, the Company had $206.0 million remaining available for future purchases of shares under the current repurchase program.
Stock-Based Compensation Expense
The following table summarizes the components of total stock-based compensation expense included in the Company’s consolidated statements of operations for the three and nine months ended September 30, 2011 and 2010 (in thousands):
 
 
For the Three Months
Ended September 30,
 
For the Nine Months
Ended September 30,
 
2011
 
2010
 
2011
 
2010
Stock-based compensation expense by type of award:
 
 
 
 
 
 
 
Stock options
$
3,312

 
$
3,843

 
$
10,518

 
$
11,240

Deferred stock units
—

 
—

 
1,885

 
1,885

RSUs
12,628

 
15,615

 
31,276

 
47,208

Shares issued under the Employee Stock Purchase Plan
1,142

 
1,049

 
4,192

 
3,237

Amounts capitalized as internal-use software
(1,941
)
 
(1,918
)
 
(5,406
)
 
(5,597
)
Total stock-based compensation before income taxes
15,141

 
18,589

 
42,465

 
57,973

Less: Income tax benefit
(5,746
)
 
(6,350
)
 
(15,119
)
 
(21,349
)
Total stock-based compensation, net of taxes
$
9,395

 
$
12,239

 
$
27,346

 
$
36,624

Effect of stock-based compensation on income by line item:

 
 
 
 
 
 
Cost of revenues
$
634

 
$
702

 
$
1,779

 
$
2,110

Research and development expense
2,629

 
3,687

 
7,515

 
11,222

Sales and marketing expense
6,951

 
8,862

 
19,112

 
26,662

General and administrative expense
4,927

 
5,338

 
14,059

 
17,979

Provision for income taxes
(5,746
)
 
(6,350
)
 
(15,119
)
 
(21,349
)
Total cost related to stock-based compensation, net of taxes
$
9,395

 
$
12,239

 
$
27,346

 
$
36,624

In addition to the amounts of stock-based compensation reported in the table above, the Company’s consolidated statements of operations for the three and nine months ended September 30, 2011 also included stock-based compensation reflected as a component of amortization of capitalized internal-use software; such additional stock-based compensation for such period was $1.6 million and $5.6 million, respectively, before taxes. The Company's consolidated statements of operations for the three and nine months ended September 30, 2010 also included stock-based compensation reflected as a component of amortization of capitalized internal-use software; such additional stock-based compensation for such period was $1.8 million and $5.5 million, respectively, before taxes.