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Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2019
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Stock-Based Compensation Expense
Total stock-based compensation expense recognized for the years ended December 31, 2019, 2018 and 2017 is as follows:
 
 
Year Ended December 31,
(in thousands, except per share amounts)
 
2019
 
2018
 
2017
Cost of sales:
 
 
 
 
 
 
Software licenses
 
$
—

 
$
—

 
$
969

Maintenance and service
 
8,494

 
5,224

 
2,533

Operating expenses:
 
 
 
 
 
 
Selling, general and administrative
 
60,639

 
47,099

 
30,817

Research and development
 
47,057

 
31,023

 
18,835

Stock-based compensation expense before taxes
 
116,190

 
83,346

 
53,154

Related income tax benefits
 
(47,454
)
 
(34,518
)
 
(20,503
)
Stock-based compensation expense, net of taxes
 
$
68,736

 
$
48,828

 
$
32,651

Net impact on earnings per share:
 
 
 
 
 
 
Basic earnings per share
 
$
(0.82
)
 
$
(0.58
)
 
$
(0.38
)
Diluted earnings per share
 
$
(0.80
)
 
$
(0.57
)
 
$
(0.38
)
Summary Of Stock Options
Information regarding stock option transactions is summarized below:
 
 
Year Ended December 31,
 
 
2019
 
2018
 
2017
(options in thousands)
 
Options
 
Weighted-
Average
Exercise
Price
 
Options
 
Weighted-
Average
Exercise
Price
 
Options
 
Weighted-
Average
Exercise
Price
Outstanding, beginning of year
 
1,484

 
$
62.80

 
2,170

 
$
59.17

 
3,136

 
$
56.37

Granted
 
—

 
$
—

 
—

 
$
—

 
—

 
$
—

Exercised
 
(495
)
 
$
53.53

 
(679
)
 
$
50.92

 
(956
)
 
$
49.78

Forfeited
 
(5
)
 
$
64.21

 
(7
)
 
$
86.28

 
(10
)
 
$
80.92

Outstanding, end of year
 
984

 
$
67.49

 
1,484

 
$
62.80

 
2,170

 
$
59.17

Vested and Exercisable, end of year
 
924

 
$
65.71

 
1,347

 
$
59.69

 
1,930

 
$
55.11

Nonvested
 
60

 
$
94.77

 
137

 
$
93.44

 
240

 
$
91.71

 
 
 
2019
 
2018
 
2017
Weighted Average Remaining Contractual Term (in years)
 
 
 
 
 
 
Outstanding
 
3.18

 
3.55

 
4.10

Vested and Exercisable
 
2.95

 
3.14

 
3.57

Nonvested
 
6.71

 
7.60

 
8.30

Aggregate Intrinsic Value (in thousands)
 
 
 
 
 
 
Exercised
 
$
72,098

 
$
78,648

 
$
58,472

Outstanding
 
$
186,926

 
$
118,908

 
$
191,895

Vested and Exercisable
 
$
177,111

 
$
112,133

 
$
178,456

Nonvested
 
$
9,815

 
$
6,775

 
$
13,439

Compensation Expense - Stock Options (in thousands)
 
$
1,709

 
$
2,006

 
$
2,948
Summary Of Restricted Stock Units
Information regarding all employee RSU transactions is summarized below:
 
 
Year Ended December 31,
 
 
2019
 
2018
 
2017
(RSUs in thousands)
 
RSUs
 
Weighted-
Average
Grant Date Fair Value
 
RSUs
 
Weighted-
Average
Grant Date Fair Value
 
RSUs
 
Weighted-
Average
Grant Date Fair Value
Nonvested, beginning of year
 
1,522

 
$
129.96

 
1,361

 
$
100.66

 
906

 
$
86.45

Granted(1)
 
843

 
$
192.37

 
681

 
$
163.67

 
866

 
$
109.67

Performance adjustment(2)
 
74

 
$
167.87

 
76

 
$
151.52

 
35

 
$
98.29

Vested
 
(704
)
 
$
125.84

 
(524
)
 
$
101.38

 
(341
)
 
$
88.58

Forfeited
 
(117
)
 
$
140.43

 
(72
)
 
$
125.29

 
(105
)
 
$
90.80

Nonvested, end of year
 
1,618

 
$
165.26

 
1,522

 
$
129.96

 
1,361

 
$
100.66

(1) Includes all RSUs granted during the year. RSUs with operating performance conditions are issued annually and have one or three performance cycles. Performance conditions are assigned at the beginning of each performance cycle and are reflected as grants at target at that time.
(2) RSUs with a market or performance condition are granted at target and vest based on achievement of the market or operating performance and service conditions. The actual number of RSUs issued may be more or less than the target RSUs depending on the achievement of the market or operating performance conditions.
Summary Of Deferred Stock Awards To Non-Employee Directors
Information regarding deferred stock awards to non-employee Directors is summarized below:
 
Year Ended December 31, 2019
 
Diversified
 
Undiversified
 
Total
Deferred Awards Outstanding, beginning of year
12,250

 
120,449

 
132,699

Shares Diversified
13,348

 
(13,348
)
 
—

Shares Issued Upon Retirement
(20,000
)
 
(47,020
)
 
(67,020
)
Deferred Awards Outstanding, end of year
5,598

 
60,081

 
65,679
Employee Stock Option  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Information Regarding Stock Options Outstanding
Information regarding stock options outstanding as of December 31, 2019 is summarized below:
(options in thousands)
 
Options Outstanding
 
Options Exercisable
 
Options Unvested
Range of Exercise Prices
 
Options
 
Weighted-
Average
Remaining
Contractual
Life (years)
 
Weighted-
Average
Exercise
Price
 
Options
 
Weighted-
Average
Remaining
Contractual
Life (years)
 
Weighted-
Average
Exercise
Price
 
Options
 
Weighted-
Average
Remaining
Contractual
Life (years)
 
Weighted-
Average
Exercise
Price
$11.99 - $48.97
 
181

 
1.01
 
$
43.29

 
181

 
1.01
 
$
43.29

 
—

 
0.00
 
$
—

$58.67
 
267

 
1.87
 
$
58.67

 
267

 
1.87
 
$
58.67

 
—

 
0.00
 
$
—

$67.44
 
280

 
2.87
 
$
67.44

 
280

 
2.87
 
$
67.44

 
—

 
0.00
 
$
—

$76.31 - $95.09
 
256

 
6.44
 
$
93.89

 
196

 
6.36
 
$
93.62

 
60

 
6.71
 
$
94.77
Restricted Stock Units (RSUs)  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Assumptions To Estimate Fair Value Of Stock Awards The determination of the fair values of the awards was affected by the grant date and several variables, each of which has been identified in the chart below:
 
Year Ended December 31,
Assumptions used in Monte Carlo lattice pricing model
2019
 
2018
 
2017
Risk-free interest rate
2.5%
 
2.4%
 
1.5%
Expected dividend yield
—%
 
—%
 
—%
Expected volatility—Ansys stock price
23%
 
21%
 
19%
Expected volatility—Nasdaq Composite Index
16%
 
15%
 
15%
Expected term
2.8 years
 
2.8 years
 
2.8 years
Correlation factor
0.71
 
0.65
 
0.70
Weighted average fair value per share
$238.99
 
$191.76
 
$120.94