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Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2021
Share-based Payment Arrangement [Abstract]  
Schedule of shares reserved and shares available for grant As of December 31, 2021, shares reserved and available for issuance under the equity compensation plans are as follows:
Shares reservedShares available for grant
2004 Purchase Plan5,392,206 2,640,649 
2020 Equity Incentive Plan4,660,322 3,969,920 
Summary of Restricted Stock Unit activity RSUs activity is summarized as follows:
Number of Shares OutstandingWeighted Average Grant Date Fair Value per ShareWeighted Average Remaining Contractual Life (Years)
Aggregate Intrinsic Value (1) (Dollars in Thousands)
RSUs outstanding, December 31, 20181,226,787 $361.22 
RSUs granted779,478 448.16 
RSUs released, vested(549,259)362.66 
Special distribution shares released(1,781)295.31 
RSUs canceled(142,477)364.42 
Special distribution shares canceled(23)297.04 
RSUs outstanding, December 31, 20191,312,725 411.99 
RSUs granted695,383 596.80 
RSUs released, vested(606,250)426.03 
Special distribution shares released(722)264.57 
RSUs canceled(63,502)457.91 
RSUs outstanding, December 31, 20201,337,634 499.60 
RSUs granted776,628 679.59 
RSUs released, vested(633,466)505.40 
Special distribution shares released(34)297.03 
RSUs canceled(123,168)561.34 
RSUs outstanding, December 31, 20211,357,594 $594.27 1.23$1,148,307 
(1)The intrinsic value is calculated based on the market value of the stock as of December 31, 2021.
Disclosures for 2004 Purchase Plan
We provide the following disclosures for the 2004 Purchase Plan as of December 31 (dollars, except shares):
202120202019
Weighted-average purchase price per share$467.59 $371.71 $354.72 
Weighted average grant-date fair value per share of shares purchased$138.80 $114.08 $104.84 
Number of shares purchased166,023 167,113 146,640 
Assumptions in computation of fair value We use the Black-Scholes option-pricing model to determine the fair value of shares under the 2004 Purchase Plan with the following assumptions during the years ended December 31:
202120202019
Range of dividend yield
1.58 - 1.77%
1.94 - 2.08%
2.07 - 2.09%
Range of risk-free interest rate
0.01 - 0.21%
0.10 - 1.55%
1.55 - 2.58%
Range of expected volatility
25.54 - 41.24%
19.28 - 51.93%
19.27 - 25.55%
Weighted-average expected volatility34.08 %32.94 %22.95 %
Weighted average expected life (in years)1.181.361.24
Schedule of allocated share-based compensation
The following table presents, by operating expense, our stock-based compensation expense recognized in our consolidated statement of operations for the years ended December 31 (in thousands):
202120202019
Cost of revenues$38,438 $32,893 $25,355 
Sales and marketing79,144 72,895 56,719 
General and administrative246,192 205,232 154,465 
Total$363,774 $311,020 $236,539 
Schedule of share-based compensation by plan
Our stock-based compensation recognized in the consolidated statement of operations was comprised of the following types of equity awards for the years ended December 31 (in thousands):
202120202019
RSUs$330,077 $289,426 $217,541 
RSAs(1)
10,067 8,289 — 
Employee stock purchase plan23,630 13,305 18,998 
Total$363,774 $311,020 $236,539 
(1) During the year ended December 31, 2020, we awarded 48,799 shares of RSAs. See Note 1 for further discussion.