Stock-based Compensation Expense

6 Months Ended

Jun. 30, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock-based Compensation Expense

Stock-based Compensation Expense

During the three and six months ended June 30, 2017 and 2016, the Company recognized the following stock-based compensation expense:

	Three Months Ended June 30,						Six Months Ended June 30,
	2017			2016			2017			2016
	(in thousands)
Stock-based compensation expense by type of award:
Stock options	$	27,915		$	31,826		$	54,896		$	58,086
Restricted stock and restricted stock units	43,906			29,608			84,651			57,141
ESPP share issuances	2,246			1,436			4,310			3,960
Less stock-based compensation expense capitalized to inventories	(1,485		)	(928		)	(2,293		)	(1,773		)
Total stock-based compensation included in costs and expenses	$	72,582		$	61,942		$	141,564		$	117,414
Stock-based compensation expense by line item:
Research and development expenses	$	43,832		$	40,640		$	88,669		$	75,088
Sales, general and administrative expenses	28,750			21,302			52,895			42,326
Total stock-based compensation included in costs and expenses	$	72,582		$	61,942		$	141,564		$	117,414

The following table sets forth the Company’s unrecognized stock-based compensation expense by type of award and the weighted-average period over which that expense is expected to be recognized:

	As of June 30, 2017
	Unrecognized Expense		Weighted-average Recognition Period
	(in thousands)		(in years)
Type of award:
Stock options	$	165,047	2.51
Restricted stock and restricted stock units	$	249,474	2.41
ESPP share issuances	$	5,064	0.62

The following table summarizes information about stock options outstanding and exercisable at June 30, 2017:

	Options Outstanding				Options Exercisable
Range of Exercise Prices	Number Outstanding	Weighted-average Remaining Contractual Life	Weighted-average Exercise Price		Number Exercisable	Weighted-average Exercise Price
	(in thousands)	(in years)	(per share)		(in thousands)	(per share)
$18.93–$20.00	129	0.61	$	18.93	129	$	18.93
$20.01–$40.00	943	2.57	$	34.74	943	$	34.74
$40.01–$60.00	1,233	5.15	$	48.58	1,233	$	48.58
$60.01–$80.00	1,042	6.69	$	75.83	784	$	75.63
$80.01–$100.00	5,336	8.45	$	89.52	1,733	$	89.89
$100.01–$120.00	1,437	7.56	$	109.35	786	$	109.27
$120.01–$131.89	1,416	8.03	$	130.34	763	$	130.00
Total	11,536	7.21	$	86.12	6,371	$	77.74