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Stockholders' Equity (Tables)
12 Months Ended
Dec. 31, 2024
Equity [Abstract]  
Schedule of Equity Compensation Goals The
program includes seven substantially equal tranches that will vest upon certification by the Compensation Committee upon achievement of three independent vesting conditions, described in the following table:
Operational Goals(1)
(in millions)
Stock Price
Goal
Minimum Service Requirement
TrancheRevenue
Adj. EBITDA(2)
Employee XSPCEO AwardGoal Expiration
1$1,834or$382and$247.40andJune 2025December 2028December 31, 2026
22,293or497and309.25andDecember 2025December 2028December 31, 2027
32,866or644and386.56andJune 2026December 2029December 31, 2028
43,583or834and483.20andDecember 2026December 2029December 31, 2029
54,479or1,077and604.00andJune 2027December 2030December 31, 2030
65,599or1,389and755.00andDecember 2027December 2030December 31, 2031
76,999or1,739and943.75andJune 2028December 2030December 31, 2032
(1)     Operational goals are measured, as of any date, for the previous four consecutive fiscal quarters, beginning with the Company's first full fiscal quarter ending after the fiscal quarter in which the grant date occurred
(2)     In connection with certain acquisitions which were completed during fiscal year 2024, the Adjusted EBITDA goals were adjusted as required by the terms of the 2024 Employee XSP and 2024 CEO Performance Award
Schedule of Restricted Stock Unit Activity
The following table summarizes RSU activity for the years ended December 31 (number of units and aggregate intrinsic value in thousands):
202420232022
Number
of
Units
Weighted
Average
Grant-Date
Fair Value
Number
of
Units
Weighted
Average
Grant-Date
Fair Value
Number
of
Units
Weighted
Average
Grant-Date
Fair Value
Units outstanding, beginning of year1,615 $193.09 1,565 $145.48 1,115 $133.40 
Granted1,131 440.76 915 227.62 1,142 143.03 
Released(909)196.35 (740)140.81 (541)117.49 
Forfeited(153)208.12 (125)157.95 (151)138.99 
Units outstanding, end of year1,684356.31 1,615193.09 1,565145.48 
Aggregate intrinsic value at year end$1,000,769 
Schedule of Performance Stock Unit Activity
The following table summarizes PSU activity, inclusive of XSUs, for the years ended December 31 (number of units and aggregate intrinsic value in thousands):
202420232022
Number
of
Units
Weighted
Average
Grant-Date
Fair Value
Number
of
Units
Weighted
Average
Grant-Date
Fair Value
Number
of
Units
Weighted
Average
Grant-Date
Fair Value
Units outstanding, beginning of year394 $201.61 1,369 $43.43 1,499 $39.86 
Granted4,888 263.13 319 218.04 158 106.57 
Released(23)140.90 (1,238)37.98 (78)107.58 
Forfeited(394)232.94 (56)48.40 (210)41.62 
Units outstanding, end of year4,865 261.18 394 201.61 1,369 43.43 
Aggregate intrinsic value at year end$2,891,142 
Schedule of the Company's Stock Options Activity
The following table summarizes stock option activity for the years ended December 31 (number of options in thousands):
202420232022
Number
of
Options
Weighted
Average
Exercise
Price
Number
of
Options
Weighted
Average
Exercise
Price
Number
of
Options
Weighted
Average
Exercise
Price
Options outstanding, beginning of year531 $28.58 2,438 $28.58 2,438 $28.58 
Granted— — — — 
Exercised(510)28.58 (1,907)28.58 — — 
Expired / terminated— 
Options outstanding, end of year21 28.58 531 28.58 2,438 28.58 
Options exercisable, end of year21 28.58 531 28.58 1,377 28.58 
Schedule of Stock Options Outstanding and Exercisable
The following table summarizes information about stock options that were fully vested or expected to vest as of December 31, 2024 (number of options in thousands):
Options OutstandingOptions Exercisable
Range of
Exercise Price
Number of
Options
Outstanding
 Weighted
Average
Exercise
Price
Average
Remaining
Contractual
Life (Years)
Weighted
Number of
Options
Exercisable
Average
Exercise
Price
Average
Remaining
Contractual
Life (Years)
$28.5821$28.58 3.1521$28.58 3.15
Schedule of Reported Share-based Compensation
We account for stock-based compensation using the fair-value method. Reported stock-based compensation expense was classified as follows for the years ended December 31 (in thousands):
202420232022
Cost of product and service sales$60,089 $6,595 $4,607 
Selling, general and administrative expenses190,561 58,533 51,301 
Research and development expenses131,954 66,230 50,268 
Total stock-based compensation expense$382,604 $131,358 $106,176 
Income tax benefit$79,275 $13,509 $25,154