Stock-based Compensation Expense and Share Repurchase (Tables)

6 Months Ended

Jun. 30, 2019

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

Stock-based compensation expense by line item

During the three and six months ended June 30, 2019 and 2018, the Company recognized the following stock-based compensation expense:

	Three Months Ended June 30,						Six Months Ended June 30,
	2019			2018			2019			2018
	(in thousands)
Stock-based compensation expense by type of award:
Restricted stock and restricted stock units (including PSUs)	$	60,966		$	51,497		$	124,476		$	101,915
Stock options	26,160			28,591			54,316			54,646
ESPP share issuances	2,809			2,428			5,386			4,556
Stock-based compensation expense related to inventories	(248		)	(80		)	(700		)	(545		)
Total stock-based compensation included in costs and expenses	$	89,687		$	82,436		$	183,478		$	160,572
Stock-based compensation expense by line item:
Cost of sales	$	1,503		$	1,191		$	2,841		$	2,004
Research and development expenses	55,632			51,612			115,347			100,100
Sales, general and administrative expenses	32,552			29,633			65,290			58,468
Total stock-based compensation included in costs and expenses	89,687			82,436			183,478			160,572
Income tax effect	(26,118		)	5,030			(65,642		)	(16,829		)
Total stock-based compensation included in costs and expenses, net of tax	$	63,569		$	87,466		$	117,836		$	143,743

Unrecognized stock-based compensation expense, net of estimated forfeitures

The following table sets forth the Company’s unrecognized stock-based compensation expense as of June 30, 2019, by type of award and the weighted-average period over which that expense is expected to be recognized:

	As of June 30, 2019
	Unrecognized Expense		Weighted-average Recognition Period
	(in thousands)		(in years)
Type of award:
Restricted stock and restricted stock units (including PSUs)	$	408,282	2.37
Stock options	$	164,006	2.69
ESPP share issuances	$	6,364	0.62

Stock options outstanding and exercisable

The following table summarizes information about stock options outstanding and exercisable as of June 30, 2019:

	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	204	1.67	$	36.87	204	$	36.87
$40.01–$60.00	401	2.96	$	49.90	401	$	49.90
$60.01–$80.00	305	4.87	$	73.09	298	$	73.02
$80.01–$100.00	2,367	6.65	$	89.22	1,459	$	89.74
$100.01–$120.00	616	5.60	$	109.31	610	$	109.26
$120.01–$140.00	746	6.14	$	130.24	685	$	130.31
$140.01–$160.00	1,245	8.59	$	155.51	407	$	155.39
$160.01–$180.00	523	8.14	$	163.28	236	$	163.59
$180.01–$189.38	1,787	9.38	$	185.32	243	$	184.18
Total	8,194	7.14	$	126.39	4,543	$	106.24