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Share-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2019
Share-based Payment Arrangement [Abstract]  
Share Based Compensation and Related Benefits In 2019, 2018 and 2017, we recorded share-based compensation and related benefits as follows:
 
 
Year ended December 31,
(Dollars in thousands)
 
2019
 
2018
 
2017
Share-based compensation expense
 
$
66,815

 
$
45,675

 
$
36,900

Income tax benefit related to share-based compensation expense
 
(16,152
)
 
(10,997
)
 
(12,845
)
Capitalized compensation costs
 
1,517

 
1,466

 
1,071
Unrecognized Share Based Compensation Expense
As of December 31, 2019, unrecognized share-based compensation expense was as follows:
(Dollars in thousands)
 
Unrecognized 
Expense
 
Weighted Average Expected Recognition Period - in Years  
Stock options
 
$
14,313

 
2.52
Restricted stock awards/units
 
101,310

 
2.66
Total unrecognized share-based compensation expense
 
$
115,623

 
 
Weighted Average Assumptions and Fair Values Used for Employee Stock Options and Restricted Stock Units The following weighted average assumptions and fair values were used for our employee stock options and restricted stock units:
Equity Incentive Plan Awards
 
2019
 
2018
 
2017
Weighted average expected term of options - in years
 
4.6

 
4.8

 
4.9

Weighted average expected volatility of the Company's underlying common stock
 
35.5
%
 
34.7
%
 
33.7
%
Risk-free interest rate
 
2.26

 
2.82

 
1.81

Expected dividend yield
 
—

 
—

 
—

Weighted average grant date fair value - stock options
 
$
83.50

 
$
105.81

 
$
57.81

Weighted average grant date fair value - restricted stock units
 
243.65

 
294.50

 
181.23
Weighted Average Assumptions and Fair Values Used for ESPP
The following weighted average assumptions and fair values were used for our ESPP:
ESPP
 
2019
 
2018
 
2017
Expected term in years
 
0.5

 
0.5

 
0.5

Weighted average expected volatility of the Company's underlying common stock
 
38.1
%
 
32.2
%
 
31.2
%
Risk-free interest rate
 
2.40

 
1.79

 
0.80

Expected dividend yield
 
—

 
—

 
—

Weighted average grant date fair value
 
$
52.90

 
$
62.76

 
$
41.70
Stock Option Information Related to Equity Incentive Plan
The table below provides stock option information related to the 2006 Equity Incentive Plan for the year ended December 31, 2019:
 
 
Options
 
Weighted
Average
 Exercise Price 
 
Weighted Average Remaining Contractual Life - in Years  
 
Aggregate Intrinsic Value of 
In-The-Money Options
Outstanding at December 31, 2018
 
679,659

 
$
137.19

 
 
 
 
Granted
 
126,945

 
249.15

 
 
 
 
Exercised
 
(154,897
)
 
86.96

 
 
 
 
Forfeited
 
(25,580
)
 
213.26

 
 
 
 
Expired
 
(720
)
 
64.37

 
 
 
 
Outstanding at December 31, 2019
 
625,407

 
169.33

 
3.63
 
$
55,364,613

Vested and expected to vest at December 31, 2019
 
609,849

 
167.31

 
3.58
 
55,128,404

Exercisable at December 31, 2019
 
361,503

 
124.70

 
2.35
 
46,760,360
Stock Options Outstanding The following table summarizes information regarding stock options outstanding and exercisable as of December 31, 2019:
 
 
Outstanding Options
 
Exercisable Options
Range of Exercise Prices
 
Shares
 
Weighted Average Remaining Contractual Life - in Years
 
Weighted Average Exercise Price
 
Shares
 
Weighted Average Exercise Price
$71.11 - 105.14
 
55,724

 
0.43
 
$
73.67

 
55,724

 
$
73.67

105.15 - 105.84
 
114,449

 
3.33
 
105.18

 
79,188

 
105.18

105.85 - 108.59
 
99,936

 
1.33
 
107.94

 
99,936

 
107.94

108.60 - 149.65
 
67,573

 
2.26
 
129.13

 
67,573

 
129.13

149.66 - 180.62
 
80,583

 
4.34
 
178.07

 
37,320

 
178.04

180.63 - 247.01
 
11,966

 
6.18
 
226.22

 
1,578

 
210.73

247.02 - 255.58
 
117,265

 
6.33
 
250.43

 
—

 
—

255.59 - 315.12
 
75,647

 
5.33
 
305.18

 
19,617

 
304.39

315.13 - 324.77
 
2,264

 
5.60
 
324.77

 
567

 
324.77

Total
 
625,407

 
3.63
 
169.33

 
361,503

 
124.70
Information for Restricted Stock Units under Equity Incentive Plan
The table below provides information for restricted stock units under the 2006 Equity Incentive Plan for the year ended December 31, 2019:
 
 
Shares    
 
Weighted Average Grant Date Fair Value
Nonvested at December 31, 2018
 
597,296

 
$
194.48

Granted (1)
 
543,938

 
243.65

Vested
 
(227,707
)
 
154.96

Forfeited
 
(65,555
)
 
195.69

Nonvested at December 31, 2019
 
847,972

 
236.54

 
(1)
On February 1, 2019, we granted 125,160 restricted stock awards to SVB Leerink employees at a market price of $238.28 under the retention plan previously announced on November 13, 2018. The restricted stock awards will vest over a five-year period.
Summary of Information Regarding Stock Option and Restricted Stock Activity
The following table summarizes information regarding stock option and restricted stock unit activity during 2019, 2018 and 2017:
 
 
Year ended December 31,
(Dollars in thousands)
 
2019
 
2018
 
2017
Total intrinsic value of stock options exercised
 
$
23,088

 
$
40,681

 
$
36,173

Total grant date fair value of stock options vested
 
5,735

 
5,823

 
6,094

Total intrinsic value of restricted stock vested
 
56,101

 
63,917

 
40,925

Total grant date fair value of restricted stock vested
 
35,191

 
28,813

 
23,383