Stock-based Compensation Expense and Share Repurchase (Tables)

3 Months Ended

Mar. 31, 2019

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock-based compensation expense by line item

During the three months ended March 31, 2019 and 2018, the Company recognized the following stock-based compensation expense:

	Three Months Ended March 31,
	2019			2018
	(in thousands)
Stock-based compensation expense by type of award:
Restricted stock and restricted stock units (including PSUs)	$	63,510		$	50,418
Stock options	28,156			26,055
ESPP share issuances	2,577			2,128
Stock-based compensation expense related to inventories	(452		)	(465		)
Total stock-based compensation included in costs and expenses	$	93,791		$	78,136
Stock-based compensation expense by line item:
Cost of sales	$	1,338		$	813
Research and development expenses	59,715			48,488
Sales, general and administrative expenses	32,738			28,835
Total stock-based compensation included in costs and expenses	93,791			78,136
Income tax effect	(39,524		)	(21,859		)
Total stock-based compensation included in costs and expenses, net of tax	$	54,267		$	56,277

Unrecognized stock-based compensation expense, net of estimated forfeitures

The following table sets forth the Company’s unrecognized stock-based compensation expense as of March 31, 2019, by type of award and the weighted-average period over which that expense is expected to be recognized:

	As of March 31, 2019
	Unrecognized Expense		Weighted-average Recognition Period
	(in thousands)		(in years)
Type of award:
Restricted stock and restricted stock units (including PSUs)	$	475,787	2.55
Stock options	$	193,321	2.84
ESPP share issuances	$	2,555	0.43

Stock options outstanding and exercisable

The following table summarizes information about stock options outstanding and exercisable as of March 31, 2019:

	Options Outstanding				Options Exercisable
Range of Exercise Prices	Number Outstanding	Weighted-average Remaining Contractual Life	Weighted-average Exercise Price		Number Exercisable	Weighted-average Exercise Price
	(in thousands)	(in years)	(per share)		(in thousands)	(per share)
$29.07–$40.00	252	1.67	$	35.87	252	$	35.87
$40.01–$60.00	437	3.20	$	50.23	437	$	50.23
$60.01–$80.00	525	5.02	$	74.83	516	$	74.82
$80.01–$100.00	2,481	6.95	$	89.20	1,315	$	89.81
$100.01–$120.00	622	5.88	$	109.32	614	$	109.24
$120.01–$140.00	773	6.36	$	130.20	653	$	130.24
$140.01–$160.00	1,287	8.82	$	155.51	333	$	155.35
$160.01–$180.00	502	8.30	$	162.94	177	$	162.95
$180.01–$187.53	1,823	9.65	$	185.29	115	$	182.72
Total	8,702	7.28	$	124.11	4,412	$	100.04