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Stock compensation (Tables)
6 Months Ended
Jun. 30, 2020
Stock compensation  
Schedule of valuation assumptions used for valuation of fair value of stock compensation granted

We utilized the Black-Scholes valuation model for estimating the fair value of the stock compensation granted, with the following weighted-average assumptions:

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Employee Stock Options

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Employee Stock Purchase Plan

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For the Three Months Ended

For the Six Months Ended

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For the Three Months Ended

For the Six Months Ended

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June 30,

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June 30,

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2020

       

2019

      

2020

      

2019

      

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2020

      

2019

      

2020

      

2019

      

Average risk-free interest rates

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0.33

%   

2.26

%   

1.32

%   

2.49

%   

 

0.16

%   

1.75

%   

0.19

%   

2.10

%   

Average expected life (in years)

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5.48

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5.55

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4.80

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5.34

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0.50

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0.50

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0.50

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0.50

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Volatility

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39

%  

39

%  

40

%  

45

%  

 

38

%  

37

%  

48

%  

34

%  

Weighted-average fair value (in dollars)

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34.13

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30.92

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29.49

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31.47

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19.50

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13.11

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17.47

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13.69

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Schedule of option activity under the 2010 Stock Plan

Option activity under our 2010 Amended and Restated Stock Incentive Plan (the “2010 Stock Plan”) was as follows:

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Shares Subject to

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Outstanding Options

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Weighted Average

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Shares

    

Exercise Price

 

Balance at December 31, 2019

 

12,632,657

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$

81.42

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Options granted

 

1,123,442

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$

83.01

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Options exercised

 

(1,602,004)

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$

49.13

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Options cancelled

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(274,941)

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$

93.91

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Balance at June 30, 2020

 

11,879,154

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$

85.63

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Schedule of RSU award and PSU activity under the 2010 Stock Plan

Restricted stock unit (“RSU”) and performance share (“PSU”) award activity under the 2010 Stock Plan was as follows:

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Shares Subject to

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Outstanding Awards

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Shares

    

Grant Date Value

 

Balance at December 31, 2019

    

2,602,376

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$

79.69

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RSUs granted

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415,017

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$

81.56

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RSUs released

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(92,818)

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$

85.93

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RSUs cancelled

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(62,956)

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$

80.10

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PSUs cancelled

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(142,250)

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$

68.79

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Balance at June 30, 2020

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2,719,369

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$

80.33

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Summary of shares available for grant

The following table summarizes our shares available for grant under the 2010 Stock Plan:

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Shares Available

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for Grant

 

Balance at December 31, 2019

 

9,882,122

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Options, RSUs and PSUs granted

 

(1,953,476)

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Options, RSUs and PSUs cancelled

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506,744

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Balance at June 30, 2020

 

8,435,390

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