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Stockholders' Equity (Tables)
6 Months Ended
Jun. 30, 2023
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)
Weighted-Average
Remaining
Contractual Term
(in years)
Aggregate Intrinsic Value
(in thousands)
Balances as of December 31, 202216,454,103 19,896,861 $242.22 
Granted
(1,025,300)1,025,300 333.49
Exercised
— (871,355)68.23 
Expired
— (574)13.14 
Balances as of June 30, 202315,428,803 20,050,232 $254.46 5.52$3,982,709 
Vested and expected to vest as of June 30, 202320,050,232 $254.46 5.52$3,982,709 
Exercisable as of June 30, 202319,918,808 $253.84 5.49$3,970,659 
Summary of Amounts Related to Option Exercises
A summary of the amounts related to option exercises, is as follows:
Three Months EndedSix Months Ended
June 30,
2023
June 30,
2022
June 30,
2023
June 30,
2022
(in thousands)
Total intrinsic value of options exercised$137,791 $83,030 $254,101 $197,792 
Cash received from options exercised34,717 11,250 60,745 24,928 
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 EndedSix Months Ended
June 30,
2023
June 30,
2022
June 30,
2023
June 30,
2022
Dividend yield— %— %— %— %
Expected volatility43 %49 %
43% - 46%
38% - 49%
Risk-free interest rate3.57 %2.57 %
3.57% - 3.63%
1.71% - 2.57%
Suboptimal exercise factor4.27 4.71 
4.22 - 4.27
4.71 
Weighted-average fair value (per share)$200 $138 $192 $167 
Total stock-based compensation expense (in thousands)$78,030 $150,392 $177,129 $269,601 
Total income tax impact on provision (in thousands)$17,148 $33,335 $38,859 $59,748