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Share-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Share-based Compensation Expense Related to Share Options, RSUs, PSRUs and Grants Under ESPP
Share-based compensation expense related to RSUs, PRSUs, grants under our ESPP and share options was as follows (in thousands):
Year Ended December 31,
202420232022
Selling, general and administrative$158,570 $146,942 $151,986 
Research and development74,673 64,847 57,522 
Cost of product sales14,802 15,052 12,488 
Total share-based compensation expense, pre-tax248,045 226,841 221,996 
Income tax benefit from share-based compensation expense(40,552)(40,015)(41,058)
Total share-based compensation expense, net of tax$207,493 $186,826 $180,938 
Schedule of RSU and PRSU Activity
The following table summarizes information as of December 31, 2024 and activity during 2024 related to our RSUs:
Number of RSUs (In thousands)Weighted-
Average
Grant-Date
Fair Value
Weighted-
Average
Remaining
Contractual
Term (Years)
Aggregate
Intrinsic
Value
(In thousands)
Outstanding at January 1, 20243,563 $148.79 
RSUs granted2,260 118.41 
RSUs released(1,341)147.14 
RSUs forfeited(449)137.25 
Outstanding at December 31, 20244,033 $133.60 1.3$496,716 
The following table summarizes information as of December 31, 2024 and activity during 2024 related to our PRSUs:
Number of PRSUs (In thousands)Weighted-
Average
Grant-Date
Fair Value
Weighted-
Average
Remaining
Contractual
Term (Years)
Aggregate
Intrinsic
Value
(In thousands)
Outstanding at January 1, 2024664 $173.30 
PRSUs granted377 131.04 
PRSUs released(124)190.81 
PRSUs forfeited(136)169.40 
Outstanding at December 31, 2024781 $150.82 1.1$96,218 
Schedule of Information and Activity Related to Share Option Plans Activity
The following table summarizes information as of December 31, 2024 and activity during 2024 related to our share option plans:
Shares
Subject to
Outstanding
Options
(In thousands)
Weighted-
Average
Exercise
Price
Weighted-
Average
Remaining
Contractual
Term (Years)
Aggregate
Intrinsic
Value
(In thousands)
Outstanding at January 1, 20242,716 $141.55 
Options exercised(14)115.81 
Options forfeited(8)163.35 
Options expired(536)148.99 
Outstanding at December 31, 20242,158 $139.79 3.2$3,562 
Vested and expected to vest at December 31, 20242,158 $139.79 3.2$3,562 
Exercisable at December 31, 20242,158 $139.79 3.2$3,562 
The following table summarizes information as of December 31, 2024 and activity during 2024 related to our nominal strike price options:
Shares
Subject to
Outstanding
Options
(In thousands)
Weighted-
Average
Exercise
Price
Weighted-
Average
Remaining
Contractual
Term (Years)
Aggregate
Intrinsic
Value
(In thousands)
Outstanding at January 1, 202427 $0.02 
Options exercised(8)0.02 
Outstanding at December 31, 202419 $0.02 6.0$2,374 
Vested and expected to vest at December 31, 202419 $0.02 6.0$2,374 
Exercisable at December 31, 202419 $0.02 6.0$2,374