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Equity Plans and Share Repurchase Program (Tables)
3 Months Ended
Mar. 31, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of Share-based Compensation, Restricted Stock Units Award Activity
The following table summarizes the activity and related information for RSUs for the periods presented below (in millions, except per share amounts):
 
RSUs Outstanding
 Number of SharesWeighted-Average Grant Date Fair Value per Share
Balance—December 31, 2025
7.6 $81.51 
Granted2.6 80.00 
Forfeited(0.2)78.87 
Vested(1.1)82.49 
Balance—March 31, 2026
8.9 $81.02 
Schedule of Share-Based Payment Award, PSUs, Valuation Assumptions The following table summarizes the weighted-average assumptions relating to our PSUs:
 Three Months Ended
 March 31,
2026
March 31,
2025
Expected term in years2.82.7
Volatility42.4 %41.5 %
Risk-free interest rate3.5 %4.2 %
Dividend rate— %— %
Schedule of Share-based Compensation, Shares Withheld for Taxes
The following summarizes the number and value of the shares withheld for employee taxes (in millions):
Three Months Ended
March 31,
2026
March 31,
2025
Shares withheld for taxes0.4 0.5 
Amount withheld for taxes$36.5 $53.8 
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions
The following table summarizes the weighted-average assumptions relating to our employee stock options: 
 Three Months Ended
 March 31,
2026
March 31,
2025
Expected term in years4.64.5
Volatility43.6 %41.6 %
Risk-free interest rate3.6 %4.2 %
Dividend rate— %— %
Schedule of Share-based Compensation, Stock Options, Activity
The following table summarizes the stock option activity and related information for the periods presented below (in millions, except exercise prices and contractual life):
 Options Outstanding
 Number
of Shares
Weighted-
Average
Exercise
Price
Weighted-
Average
Remaining
Contractual
Life (Years)
Aggregate
Intrinsic
Value
Balance—December 31, 2025
7.4 $49.39 3.0$241.7 
Granted0.6 80.00 
Forfeited— 90.29 
Exercised(0.8)22.24 
Balance—March 31, 2026
7.2 $54.66 
Options vested and expected to vest—March 31, 2026
7.2 $54.66 3.3$210.2 
Options exercisable—March 31, 2026
5.2 $44.89 2.4$197.3 
Schedule of Share-based Compensation, Stock Options, Activity, Additional Information
Additional information related to our stock options is summarized below (in millions, except per share amounts):
Three Months Ended
March 31,
2026
March 31,
2025
Weighted-average fair value per share granted $32.91 $44.34 
Intrinsic value of options exercised $47.8 $102.3 
Fair value of options vested$10.9 $9.5 
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs
Stock-based compensation expense, including stock-based compensation expense related to awards classified as liabilities, is included in costs and expenses (in millions):
 Three Months Ended
 March 31,
2026
March 31,
2025
Cost of product revenue$0.6 $0.5 
Cost of service revenue7.1 6.5 
Research and development25.1 23.0 
Sales and marketing31.9 26.5 
General and administrative8.5 10.4 
Total stock-based compensation expense$73.2 $66.9 
Schedule of Employee Service Share based Compensation Allocation of Recognized Period Costs by Award Type
The following table summarizes stock-based compensation expense, including stock-based compensation expense related to awards classified as liabilities, by award type (in millions):
 Three Months Ended
 March 31,
2026
March 31,
2025
RSUs$63.1 $56.3 
Stock options6.6 6.6 
PSUs3.5 4.0 
Total stock-based compensation expense$73.2 $66.9 
Income Tax Benefit from Stock Option Plans
Total income tax benefit associated with stock-based compensation that is recognized in the condensed consolidated statements of income is (in millions):
Three Months Ended
March 31,
2026
March 31,
2025
Income tax benefit associated with stock-based compensation $16.0 $14.7