Stock-based Compensation Expense and Share Repurchase Programs (Tables)

9 Months Ended

Sep. 30, 2019

Share-based Payment Arrangement [Abstract]

Stock-based compensation expense by line item

During the three and nine months ended September 30, 2019 and 2018, the Company recognized the following stock-based compensation expense:

	Three Months Ended September 30,					Nine Months Ended September 30,
	2019			2018		2019			2018
	(in thousands)
Stock-based compensation expense by type of award:
Restricted stock and restricted stock units (including PSUs)	$	61,175		$	55,482	$	185,651		$	157,397
Stock options	21,737			27,234		76,053			81,880
ESPP share issuances	3,044			2,725		8,430			7,281
Stock-based compensation expense related to inventories	(536		)	91		(1,236		)	(454		)
Total stock-based compensation included in costs and expenses	$	85,420		$	85,532	$	268,898		$	246,104
Stock-based compensation expense by line item:
Cost of sales	$	1,337		$	1,259	$	4,178		$	3,263
Research and development expenses	52,504			52,918		167,851			153,018
Sales, general and administrative expenses	31,579			31,355		96,869			89,823
Total stock-based compensation included in costs and expenses	85,420			85,532		268,898			246,104
Income tax effect	(21,996		)	3,114		(87,638		)	(13,715		)
Total stock-based compensation included in costs and expenses, net of tax	$	63,424		$	88,646	$	181,260		$	232,389

Unrecognized stock-based compensation expense, net of estimated forfeitures

The following table sets forth the Company’s unrecognized stock-based compensation expense as of September 30, 2019, by type of award and the weighted-average period over which that expense is expected to be recognized:

	As of September 30, 2019
	Unrecognized Expense		Weighted-average Recognition Period
	(in thousands)		(in years)
Type of award:
Restricted stock and restricted stock units (including PSUs)	$	409,425	2.27
Stock options	$	153,686	2.64
ESPP share issuances	$	3,321	0.46

Stock options outstanding and exercisable

The following table summarizes information about stock options outstanding and exercisable as of September 30, 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	186	1.47	$	36.89	186	$	36.89
$40.01–$60.00	379	2.73	$	50.00	379	$	50.00
$60.01–$80.00	299	4.62	$	73.01	294	$	72.96
$80.01–$100.00	2,183	6.41	$	89.27	1,477	$	89.78
$100.01–$120.00	597	5.37	$	109.29	592	$	109.25
$120.01–$140.00	707	5.89	$	130.24	695	$	130.35
$140.01–$160.00	1,203	8.34	$	155.51	464	$	155.41
$160.01–$180.00	803	8.61	$	167.65	257	$	163.59
$180.01–$189.38	1,733	9.12	$	185.35	346	$	184.58
Total	8,090	7.02	$	128.89	4,690	$	109.42