Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2021

Equity [Abstract]

Equity Compensation Goals

Revenue Goal (1) (in thousands)	Achievement Status	Adjusted EBITDA (in thousands)	Achievement Status
Goal #1, $710,058	Achieved	Goal #1 $125,000	Achieved
Goal #2, $860,058	Achieved	Goal #2, $155,000	Achieved
Goal #3, $1,010,058	Probable	Goal #3 $175,000	Achieved
Goal #4, $1,210,058	Probable	Goal #4, $190,000	Achieved
Goal #5, $1,410,058	Not Applicable	Goal #5 $200,000	Achieved
Goal #6, $1,610,058	Not Applicable	Goal #6, $210,000	Achieved
Goal #7, $1,810,058	Not Applicable	Goal #7, $220,000	Achieved
Goal #8, $2,010,058	Not Applicable	Goal #8 $230,000	Achieved

(1) In connection with the business acquisition that was completed during the three months ended June 30, 2018, the revenue goals were adjusted for the acquiree’s Target Revenue, as defined in the CEO Performance Award agreement.

Summary 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):

	2021				2020			2019
			Weighted			Weighted			Weighted
	Number		Average		Number	Average		Number	Average
	of		Grant-Date		of	Grant-Date		of	Grant-Date
	Units		Fair Value		Units	Fair Value		Units	Fair Value
Units outstanding, beginning of year		1,107	$	76.10	1,249	$	45.47	1,244	$	28.52
Granted		686		165.67	577		100.76	718		59.09
Released		(554)		66.23	(598)		40.68	(547)		27.38
Forfeited		(124)		100.64	(121)		52.40	(166)		36.91
Units outstanding, end of year		1,115		133.40	1,107		76.10	1,249		45.47
Aggregate intrinsic value at year end	$	174,999

Summary 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):

	2021				2020			2019
			Weighted			Weighted			Weighted
	Number		Average		Number	Average		Number	Average
	of		Grant-Date		of	Grant-Date		of	Grant-Date
	Units		Fair Value		Units	Fair Value		Units	Fair Value
Units outstanding, beginning of year		5,618	$	35.71	6,033	$	34.47	411	$	27.82
Granted		309		77.53	417		58.11	6,041		34.61
Released		(4,345)		37.16	(184)		27.79	(103)		17.14
Forfeited		(83)		40.91	(648)		40.83	(316)		33.99
Units outstanding, end of year		1,499		39.86	5,618		35.71	6,033		34.47
Aggregate intrinsic value at year end	$	235,325

Summary 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):

	2021				2020			2019
			Weighted			Weighted			Weighted
	Number		Average		Number	Average		Number	Average
	of		Exercise		of	Exercise		of	Exercise
	Options		Price		Options	Price		Options	Price
Options outstanding, beginning of year		6,366	$	28.58	6,431	$	28.34	6,458	$	28.24
Granted		—		—	—		—	—		—
Exercised		(3,928)		28.58	(65)		4.52	(27)		4.27
Expired / terminated		—		—	—		—	—		—
Options outstanding, end of year		2,438		28.58	6,366		28.58	6,431		28.34
Options exercisable, end of year		1,377		28.58	530		28.58	65		4.52

Summary 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, 2021 (number of options in thousands):

	Options Outstanding				Options Exercisable
				Weighted				Weighted
		Weighted		Average	Weighted			Average
	Number of	Average		Remaining	Number of	Average		Remaining
Range of	Options	Exercise		Contractual	Options	Exercise		Contractual
Exercise Price	Outstanding	Price		Life (Years)	Exercisable	Price		Life (Years)
$28.58	1,377	$	28.58	6.15	1,377	$	28.58	6.15

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):

	2021		2020		2019
Cost of product and service sales	$	5,844	$	3,464	$	1,565
Sales, general and administrative expenses		238,813		103,860		59,342
Research and development expenses		58,674		26,248		17,588
Total stock-based compensation expense	$	303,331	$	133,572	$	78,495
Income tax benefit	$	30,586	$	29,329	$	11,457