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Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]  
Schedule of Shares Reserved and Shares Available for Grant As of December 31, 2022, shares reserved and available for issuance under the equity compensation plans are as follows:
Shares reservedShares available for grant
2004 Purchase Plan5,392,206 2,497,134 
2020 Equity Incentive Plan4,403,832 3,213,089 
Schedule 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, 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 
RSUs granted912,249 661.43 
RSUs released, vested(668,733)576.62 
RSUs canceled(155,418)624.98 
RSUs outstanding, December 31, 20221,445,692 $641.51 1.26$946,971 
(1)The intrinsic value is calculated based on the market value of the stock as of December 31, 2022.
Schedule of Disclosures for 2004 Purchase Plan
We provide the following disclosures for the 2004 Purchase Plan as of December 31 (dollars, except shares):
202220212020
Weighted-average purchase price per share$568.29 $467.59 $371.71 
Weighted average grant-date fair value per share of shares purchased$202.61 $138.80 $114.08 
Number of shares purchased143,515 166,023 167,113 
Schedule of 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:
202220212020
Range of dividend yield
1.48% - 1.55%
1.58 - 1.77%
1.94 - 2.08%
Range of risk-free interest rate
0.72% - 3.06%
0.01 - 0.21%
0.10 - 1.55%
Range of expected volatility
25.73% - 37.20%
25.54 - 41.24%
19.28 - 51.93%
Weighted-average expected volatility30.34 %34.08 %32.94 %
Weighted average expected life (in years)1.061.181.36
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):
202220212020
Cost of revenues$45,028 $38,438 $32,893 
Sales and marketing82,794 79,144 72,895 
General and administrative276,161 246,192 205,232 
Total$403,983 $363,774 $311,020 
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):
202220212020
RSUs$359,952 $330,077 $289,426 
RSAs(1)
9,793 10,067 8,289 
Employee stock purchase plan34,238 23,630 13,305 
Total$403,983 $363,774 $311,020 
(1) During the year ended December 31, 2020, we awarded 48,799 shares of RSAs. See Note 1 for further discussion.