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Stockholders' Equity (Tables)
3 Months Ended
Mar. 31, 2022
Stockholders' Equity Note [Abstract]  
Summary of Activity Related to Stock Option Plans
A summary of the activities related to the Company’s stock option plans is as follows:
Options Outstanding
Shares
Available
for Grant
Number of
Shares
Weighted-
Average
Exercise Price
(per share)
Balances as of December 31, 202120,145,360 17,595,851 $219.83 
Granted
(523,787)523,787 460.28
Exercised
— (310,743)38.00 
Expired
— (1,246)16.11 
Balances as of March 31, 202219,621,573 17,807,649 $230.09 
Summary of Amounts Related to Option Exercises
A summary of the amounts related to option exercises, is as follows:
Three Months Ended
March 31,
2022
March 31,
2021
(in thousands)
Total intrinsic value of options exercised$114,762 $228,020 
Cash received from options exercised13,678 48,071 
Summary of Assumptions Used to Value Stock Option Grants Using Lattice-Binomial Model The following table summarizes the assumptions used to value option grants using the lattice-binomial model and the valuation data:
Three Months Ended
March 31,
2022
March 31,
2021
Dividend yield— %— %
Expected volatility38 %41 %
Risk-free interest rate1.71 %1.08 %
Suboptimal exercise factor4.71 3.81 
Weighted-average fair value (per share)$228 $268 
Total stock-based compensation expense (in thousands)$119,209 $107,230 
Total income tax impact on provision (in thousands)$26,413 $24,079