Stock-based Compensation Expense and Share Repurchase (Tables)

3 Months Ended

Mar. 31, 2018

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

Stock-based compensation expense by line item

During the three months ended March 31, 2018 and 2017, the Company recognized the following stock-based compensation expense:

	Three Months Ended March 31,
	2018			2017
	(in thousands)
Stock-based compensation expense by type of award:
Stock options	$	26,055		$	26,981
Restricted stock and restricted stock units (including PSUs)	50,418			40,745
ESPP share issuances	2,128			2,064
Stock-based compensation expense related to inventories	(465		)	(351		)
Total stock-based compensation included in costs and expenses	$	78,136		$	69,439
Stock-based compensation expense by line item:
Cost of sales	$	813		$	457
Research and development expenses	48,488			44,837
Sales, general and administrative expenses	28,835			24,145
Total stock-based compensation included in costs and expenses	$	78,136		$	69,439

Unrecognized stock-based compensation expense, net of estimated forfeitures

The following table sets forth the Company’s unrecognized stock-based compensation expense as of March 31, 2018, by type of award and the weighted-average period over which that expense is expected to be recognized:

	As of March 31, 2018
	Unrecognized Expense		Weighted-average Recognition Period
	(in thousands)		(in years)
Type of award:
Stock options	$	203,271	2.79
Restricted stock and restricted stock units (including PSUs)	$	386,253	2.76
ESPP share issuances	$	2,117	0.43

Stock options outstanding and exercisable

The following table summarizes information about stock options outstanding and exercisable as of March 31, 2018:

	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)
$26.73–$40.00	726	1.63	$	34.46	726	$	34.46
$40.01–$60.00	588	4.24	$	49.43	588	$	49.43
$60.01–$80.00	644	5.96	$	75.25	627	$	75.28
$80.01–$100.00	3,791	7.85	$	89.21	1,357	$	89.45
$100.01–$120.00	972	6.80	$	109.28	622	$	109.15
$120.01–$140.00	1,138	7.35	$	130.20	732	$	129.98
$140.01–$160.00	1,496	9.86	$	155.57	10	$	155.57
$160.01–$163.74	600	9.25	$	162.94	76	$	162.94
Total	9,955	7.30	$	103.03	4,738	$	84.36