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Common Stock and Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2019
Share-based Payment Arrangement [Abstract]  
Class of Treasury Stock
We repurchased the following shares of common stock with cash resources:
 
Year Ended December 31,
 
2019
 
2018
 
2017
Shares of common stock repurchased
317,429

 
1,348,563

 
674,857

Value of common stock repurchased
$
17,961

 
$
73,105

 
$
43,792
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
The fair value of stock options granted to employees, directors, and consultants is estimated using the following assumptions:
 
Year Ended December 31,
 
2019
 
2018
 
2017
Risk-free interest rate
1.42% - 2.61%
 
2.30% - 3.07%
 
1.70% - 2.42%
Volatility
40.83% - 50.73%
 
43.76%
 
28.56% - 37.63%
Expected term (in years)
1.51 - 9.41 years
 
5.50 - 6.08 years
 
5.50 - 7.0 years
Expected dividend yield
0.0%
 
0.0%
 
0.0%
Share-based Compensation Arrangement by Share-based Payment Award
The following table summarizes information about stock option activity related to the 2014 Plan:
 
Number of
 Stock
 Option
 Shares
 
Weighted
 Average
 Exercise
 Price (Per Share)
 
Non-
 Exercisable
 
Exercisable
Outstanding at December 31, 2017
2,786,568

 
$
57.13

 
1,349,339

 
1,437,229

Granted
672,092

 
59.17

 
 
 
 
Exercised
(502,322
)
 
17.19

 
 
 
 
Forfeited or expired
(399,973
)
 
 
 
 
 
 
Outstanding at December 31, 2018
2,556,365

 
$
62.78

 
1,074,456

 
1,481,909

Granted
628,133

 
$
44.28

 
 
 
 
Exercised
(23,032
)
 
$
10.33

 
 
 
 
Forfeited or expired
(65,305
)
 
 
 
 
 
 
Outstanding at December 31, 2019
3,096,161

 
$
59.29

 
1,070,054

 
2,026,107
Schedule of Restricted Stock Unit Activity
The following table summarizes information about RSU activity related to the 2014 Plan:

 
Number of
Restricted Stock Units
 
Weighted
 Average
 Grant Date Fair Value (Per Share)
Non-vested at December 31, 2017
—

 
$
—

Granted
64,080

 
59.04

Vested
—

 
—

Forfeited
(9,861
)
 
$
59.14

Non-vested at December 31, 2018
54,219

 
$
59.02

Granted
211,829

 
$
42.17

Vested
(13,555
)
 
$
59.02

Forfeited
(1,278
)
 
$
52.19

Non-vested at December 31, 2019
251,215

 
$
44.84
Schedule of Phantom Share Unit Activity
The following table summarizes information about PSU activity related to the 2014 Plan:
 
Number of
 Performance Stock Units
 
Weighted
 Average
Grant Date Fair Value (Per Share)
Non-vested at December 31, 2017
—

 
$
—

Granted
127,080

 
90.19

Vested
—

 
—

Forfeited
(9,861
)
 
$
90.19

Non-vested at December 31, 2018
117,219

 
$
90.19

Granted
—

 
$
—

Vested
—

 
$
—

Forfeited
(1,038
)
 
$
90.19

Non-vested at December 31, 2019
116,181

 
$
90.19
Schedule of Share-based Compensation Cost
The Company recognized stock-based compensation in its consolidated statements of income for the year ended December 31, 2019, 2018, and 2017 as follows:
 
Year Ended December 31,
 
2019
 
2018
 
2017
Stock options
$
16,394

 
$
15,333

 
$
15,429

PSUs
3,062

 
3,059

 
—

RSUs
2,542

 
690

 
—

Stock-based compensation expense
$
21,998

 
$
19,082

 
$
15,429

 
 
 
 
 
 
Selling, general and administrative
$
17,556

 
$
15,068

 
$
11,486

Research and development
4,442

 
4,014

 
3,943

Stock-based compensation expense
$
21,998

 
$
19,082

 
$
15,429