Stock-based Compensation Expense and Share Repurchase (Tables)

9 Months Ended

Sep. 30, 2018

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

Stock-based compensation expense by line item

During the three and nine months ended September 30, 2018 and 2017, the Company recognized the following stock-based compensation expense:

	Three Months Ended September 30,					Nine Months Ended September 30,
	2018		2017			2018			2017
	(in thousands)
Stock-based compensation expense by type of award:
Stock options	$	27,234	$	25,969		$	81,880		$	80,865
Restricted stock and restricted stock units (including PSUs)	55,482		46,737			157,397			131,388
ESPP share issuances	2,725		2,428			7,281			6,738
Stock-based compensation expense related to inventories	91		(678		)	(454		)	(2,001		)
Total stock-based compensation included in costs and expenses	$	85,532	$	74,456		$	246,104		$	216,990
Stock-based compensation expense by line item:
Cost of sales	$	1,259	$	686		$	3,263		$	1,656
Research and development expenses	52,918		46,186			153,018			134,855
Sales, general and administrative expenses	31,355		27,584			89,823			80,479
Total stock-based compensation included in costs and expenses	$	85,532	$	74,456		$	246,104		$	216,990

Unrecognized stock-based compensation expense, net of estimated forfeitures

The following table sets forth the Company’s unrecognized stock-based compensation expense as of September 30, 2018, by type of award and the weighted-average period over which that expense is expected to be recognized:

	As of September 30, 2018
	Unrecognized Expense		Weighted-average Recognition Period
	(in thousands)		(in years)
Type of award:
Stock options	$	189,045	2.77
Restricted stock and restricted stock units (including PSUs)	$	388,909	2.71
ESPP share issuances	$	3,051	0.47

Stock options outstanding and exercisable

The following table summarizes information about stock options outstanding and exercisable as of September 30, 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)
$29.07–$40.00	550	1.36	$	34.89	550	$	34.89
$40.01–$60.00	495	3.71	$	49.82	495	$	49.82
$60.01–$80.00	556	5.51	$	74.96	545	$	74.94
$80.01–$100.00	3,017	7.46	$	89.18	1,228	$	89.88
$100.01–$120.00	725	6.36	$	109.30	550	$	109.19
$120.01–$140.00	880	6.89	$	130.25	615	$	130.15
$140.01–$160.00	1,445	9.33	$	155.52	198	$	155.20
$160.01–$180.00	545	8.77	$	162.94	128	$	162.94
$180.01–$181.60	732	9.80	$	181.60	4	$	181.60
Total	8,945	7.18	$	111.22	4,313	$	89.83