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

3 Months Ended

Mar. 31, 2020

Share-based Payment Arrangement [Abstract]

Stock-based compensation expense by line item

During the three months ended March 31, 2020 and 2019, the Company recognized the following stock-based compensation expense:

	Three Months Ended March 31,
	2020			2019
	(in thousands)
Stock-based compensation expense by type of award:
Restricted stock and restricted stock units (including PSUs)	$	97,149		$	63,510
Stock options	17,266			28,156
ESPP share issuances	2,485			2,577
Stock-based compensation expense related to inventories	(1,194		)	(452		)
Total stock-based compensation expense included in costs and expenses	$	115,706		$	93,791
Stock-based compensation expense by line item:
Cost of sales	$	1,361		$	1,338
Research and development expenses	72,687			59,715
Sales, general and administrative expenses	41,658			32,738
Total stock-based compensation expense included in costs and expenses	115,706			93,791
Income tax effect	(64,246		)	(39,524		)
Total stock-based compensation expense, net of tax	$	51,460		$	54,267

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, 2020, by type of award and the weighted-average period over which that expense is expected to be recognized:

	As of March 31, 2020
	Unrecognized Expense		Weighted-average Recognition Period
	(in thousands)		(in years)
Type of award:
Restricted stock and restricted stock units (including PSUs)	$	550,095	2.27
Stock options	$	109,086	2.33
ESPP share issuances	$	2,238	0.40

Stock options outstanding and exercisable

The following table summarizes information about stock options outstanding and exercisable as of March 31, 2020:

	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	81	1.47	$	37.70	81	$	37.70
$40.01–$60.00	224	2.41	$	49.15	224	$	49.15
$60.01–$80.00	116	4.03	$	74.89	112	$	74.89
$80.01–$100.00	1,393	5.99	$	89.44	1,085	$	90.01
$100.01–$120.00	182	4.88	$	109.25	180	$	109.18
$120.01–$140.00	402	5.44	$	129.59	400	$	129.61
$140.01–$160.00	954	7.86	$	155.50	436	$	155.41
$160.01–$180.00	669	8.24	$	168.21	245	$	165.11
$180.01–$189.38	1,498	8.65	$	185.44	440	$	185.31
Total	5,519	6.98	$	137.34	3,203	$	119.05