Stockholders' Equity (Tables)

9 Months Ended

Sep. 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, 2022	16,454,103	19,896,861	$	242.22
Granted	(1,372,702)	1,372,702	360.44
Exercised	—	(1,369,075)	85.43
Expired	—	(3,314)	32.04
Balances as of September 30, 2023	15,081,401	19,897,174	$	261.20	5.41	$	2,780,062
Vested and expected to vest as of September 30, 2023		19,897,174	$	261.20	5.41	$	2,780,062
Exercisable as of September 30, 2023		19,709,179	$	260.11	5.37	$	2,775,752

Summary of Amounts Related to Option Exercises

A summary of the amounts related to option exercises, is as follows:

	Three Months Ended				Nine Months Ended
	September 30, 2023		September 30, 2022		September 30, 2023		September 30, 2022
	(in thousands)
Total intrinsic value of options exercised	$	160,031	$	65,087	$	414,132	$	262,879
Cash received from options exercised	57,818		4,113		118,563		29,041

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						Nine Months Ended
	September 30, 2023			September 30, 2022			September 30, 2023			September 30, 2022
Dividend yield	—		%	—		%	—		%	—		%
Expected volatility	40		%	50		%	40% - 46%			38% - 50%
Risk-free interest rate	3.95		%	2.98		%	3.57% - 3.95%			1.71% - 2.98%
Suboptimal exercise factor	4.27			4.73			4.22 - 4.27			4.71 - 4.73
Weighted-average fair value (per share)	$	244		$	127		$	205		$	150
Total stock-based compensation expense (in thousands)	$	79,720		$	152,062		$	256,849		$	421,663
Total income tax impact on provision (in thousands)	$	17,452		$	33,724		$	56,311		$	93,472

Scummary of Accumulated Other Comprehensive Income (Loss)

The following table summarizes the changes in accumulated balances of other comprehensive income (loss), net of tax:

	Foreign Currency Translation Adjustments		Change in Unrealized Gains (Losses) on Cash Flow Hedges		Total
	(in thousands)
Balances as of December 31, 2022	$	(217,306)	$	—	$	(217,306)
Other comprehensive income (loss) before reclassifications	(16,117)		77,852		61,735
Balances as of September 30, 2023	$	(233,423)	$	77,852	$	(155,571)

	Foreign Currency Translation Adjustments		Change in Unrealized Gains (Losses) on Cash Flow Hedges		Total
	(in thousands)
Balances as of December 31, 2021	$	(40,495)	$	—	$	(40,495)
Other comprehensive income (loss) before reclassifications	(207,148)		—		(207,148)
Balances as of September 30, 2022	$	(247,643)	$	—	$	(247,643)