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Stockholders' Equity (Tables)
 12 Months Ended
Dec. 31, 2017
Stock-based Compensation Expense
The stock-based compensation related to all of our stock-based awards and employee stock purchases for the year ended December 31, 2017, 2016 and 2015 is as follows (in thousands):
 
For the Year Ended December 31,
 
2017
 
2016
 
2015
Cost of net revenues
$
3,330

 
$
3,966

 
$
3,938

Selling, general and administrative
46,550

 
42,612

 
40,813

Research and development
8,974

 
7,570

 
8,192

Total stock-based compensation
$
58,854

 
$
54,148

 
$
52,943
Stock Option Activity
Activity for the year ended December 31, 2017, under the stock option plans is set forth below: 
 
Stock Options
 
Number of
Shares
Underlying
Stock Options
(in thousands)
 
Weighted
Average
Exercise
Price per Share
 
Weighted Average
Remaining
Contractual Term
(in years)
 
Aggregate
Intrinsic
Value
(in thousands)
Outstanding as of December 31, 2016
222

 
$
14.90

 
 
 
 
Granted
—

 
—

 
 
 
 
Exercised
(143
)
 
16.66

 
 
 
 
Cancelled or expired
(4
)
 
18.16

 
 
 
 
Outstanding as of December 31, 2017
75

 
$
11.36

 
0.93
 
$
15,752

Vested and expected to vest at December 31, 2017
75

 
$
11.36

 
0.93
 
$
15,752

Exercisable at December 31, 2017
75

 
$
11.36

 
0.93
 
$
15,752
Fair value assumptions using the Monte Carlo simulation
The following weighted-average assumptions used in the Monte Carlo simulation were as follows: 
 
Year Ended December 31,
 
2017
 
2016
 
2015
Expected term (in years)
3.0

 
3.0

 
3.0

Expected volatility
28.9
%
 
34.0
%
 
36.9
%
Risk-free interest rate
1.5
%
 
0.9
%
 
1.0
%
Expected dividends
—

 
—

 
—

Weighted average fair value per share at grant date
$
120.39

 
$
68.88

 
$
61.73
Schedule of ESPP share activity
The following table summarizes the ESPP shares issued:
 
Year Ended December 31,
 
2017
 
2016
 
2015
Number of shares issued (in thousands)
202

 
197

 
230

Weighted average price
$
59.93

 
$
48.65

 
$
36.66
2001 Purchase Plan  
Weighted Average Assumptions Used for the Fair Value of Options Component of Purchase Plan Granted Estimated at Grant Date
The fair value of the option component of the 2010 Purchase Plan shares was estimated at the grant date using the Black-Scholes option pricing model with the following weighted average assumptions:
 
Year Ended December 31,
  
2017
 
2016
 
2015
Expected term (in years)
1.2

 
1.2

 
1.2

Expected volatility
26.8
%
 
30.5
%
 
31.1
%
Risk-free interest rate
1.0
%
 
0.7
%
 
0.3
%
Expected dividends
—

 
—

 
—

Weighted average fair value at grant date
$
31.36

 
$
22.23

 
$
16.19
Stock Option  
Weighted Average Assumptions Used for the Fair Value of Options Component of Purchase Plan Granted Estimated at Grant Date
Activity for the year ended December 31, 2017, under the stock option plans is set forth below: 
 
Stock Options
 
Number of
Shares
Underlying
Stock Options
(in thousands)
 
Weighted
Average
Exercise
Price per Share
 
Weighted Average
Remaining
Contractual Term
(in years)
 
Aggregate
Intrinsic
Value
(in thousands)
Outstanding as of December 31, 2016
222

 
$
14.90

 
 
 
 
Granted
—

 
—

 
 
 
 
Exercised
(143
)
 
16.66

 
 
 
 
Cancelled or expired
(4
)
 
18.16

 
 
 
 
Outstanding as of December 31, 2017
75

 
$
11.36

 
0.93
 
$
15,752

Vested and expected to vest at December 31, 2017
75

 
$
11.36

 
0.93
 
$
15,752

Exercisable at December 31, 2017
75

 
$
11.36

 
0.93
 
$
15,752
Restricted Stock Units (RSUs)  
Summary of Nonvested Shares
A summary for the year ended December 31, 2017, is as follows:
 
 
Shares
Underlying  RSUs
(in thousands)
 
Weighted Average Grant Date Fair Value
 
Weighted
Remaining
Vesting Period
(in years)
 
Aggregate
Intrinsic
Value
(in thousands)
Nonvested as of December 31, 2016
1,789

 
$
58.39

 
 
 
 
Granted
487

 
118.77

 
 
 
 
Vested and released
(852
)
 
54.24

 
 
 
 
Forfeited
(83
)
 
69.06

 
 
 
 
Nonvested as of December 31, 2017
1,341

 
$
82.30

 
1.18
 
$
297,973
Market Performance Based Restricted Stock Units  
Summary of Nonvested Shares
The following table summarizes the MSU performance as of December 31, 2017:
 
Number of Shares
Underlying MSUs
(in thousands)
 
Weighted Average Grant Date Fair Value
 
Weighted Average
Remaining
Vesting Period
(in years)
 
Aggregate
Intrinsic Value
(in thousands)
Nonvested as of December 31, 2016
520

 
$
60.49

 

 


Granted
201

 
88.80

 
 
 
 
Vested and released
(283
)
 
53.11

 
 
 
 
Forfeited
(10
)
 
64.50

 
 
 
 
Nonvested as of December 31, 2017
428

 
$
78.53

 
0.97
 
$
95,120