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Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Stock Option Activity
The following table summarizes the Company’s stock option activity:
 
Shares
(in thousands)
 
Weighted-
Average
Exercise
Price
 
Weighted-
Average
Remaining
Contractual
Term
(in years)
 
Aggregate
Intrinsic Value
(in thousands)
Outstanding as of December 31, 2018
13,789

 
$
31.73

 
 
 
 
Granted
2,990

 
51.25

 
 
 
 
Exercised
(3,018
)
 
21.40

 
 
 
 
Forfeited or expired
(862
)
 
42.53

 
 
 
 
Outstanding as of December 31, 2019
12,899

 
$
37.95

 
7.14
 
$
236,318

Exercisable as of December 31, 2019
4,775

 
$
26.67

 
5.61
 
$
141,277

Options vested or expected to vest as of 
 December 31, 2019 (1)
11,724

 
$
36.84

 
7.00
 
$
227,779

(1) In addition to the vested options, the Company expects a portion of the unvested options to vest at some point in the future. Options expected to vest are calculated by applying an estimated forfeiture rate to the unvested options.
Weighted-Average Assumptions Used in Estimating Fair Values of Stock Options Granted
The fair values of stock options granted in each period presented were estimated using the following weighted-average assumptions:
 
Year Ended December 31,
 
2019
 
2018
 
2017
Risk-free rate
2.7
%
 
2.9
%
 
2.4
%
Expected dividend yield
0.39
%
 
0.35
%
 
0.40
%
Expected volatility
37
%
 
39
%
 
41
%
Expected term (in years)
5.3

 
5.4

 
5.4
Nonvested Restricted Stock Shares Activity [Table Text Block]
The following tables summarizes the Company's RSU activity:
 
Shares
(in thousands)
 
Weighted-
Average
Grant Date Fair Value
Nonvested as of December 31, 2018
—

 
$
—

Granted
151

 
48.61

Vested
—

 
—

Forfeited or expired
(1
)
 
45.20

Nonvested as of December 31, 2019
150

 
$
48.63
Stock-Based Compensation Expense
The following table presents the stock-based compensation expense by caption for each period presented on the Consolidated Statements of Operations (in thousands):
 
Year Ended December 31,
 
2019
 
2018
 
2017
Cost of revenue
$
1,504

 
$
2,447

 
$
1,881

Research, development, and engineering
15,748

 
14,578

 
11,022

Selling, general, and administrative
28,337

 
24,065

 
19,039

 
$
45,589

 
$
41,090

 
$
31,942