Stock compensation (Tables)

6 Months Ended

Jun. 30, 2022

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:

	Employee Stock Options								Employee Stock Purchase Plan
	For the Three Months Ended				For the Six Months Ended				For the Three Months Ended				For the Six Months Ended
	June 30,								June 30,
	2022		2021		2022		2021		2022		2021		2022		2021
Average risk-free interest rates	3.04	%	0.75	%	1.67	%	0.44	%	2.92	%	0.25	%	2.77	%	0.18	%
Average expected life (in years)	5.51		5.32		4.77		4.84		0.50		0.50		0.50		0.50
Volatility	33	%	38	%	37	%	39	%	39	%	26	%	28	%	33	%
Weighted-average fair value (in dollars)	26.35		29.55		25.30		29.80		14.91		16.14		14.53		18.48

Schedule of option activity under the 2010 Stock Plan

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

	Shares Subject to
	Outstanding Options
		Weighted Average
	Shares	Exercise Price
Balance at December 31, 2021	12,763,460	$	88.39
Options granted	1,245,450	$	74.54
Options exercised	(384,281)	$	69.03
Options cancelled	(723,224)	$	87.40
Balance at June 30, 2022	12,901,405	$	87.69

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:

	Shares Subject to
	Outstanding Awards
	Shares	Grant Date Value
Balance at December 31, 2021	3,966,888	$	84.91
RSUs granted	359,524		74.37
RSUs released	(153,897)		83.43
PSUs released	(152,009)		67.18
RSUs cancelled	(171,234)		86.06
PSUs cancelled	(1,720)		65.76
Balance at June 30, 2022	3,847,552	$	84.64

Summary of shares available for grant

The following table summarizes our shares available for grant under the 2010 Stock Plan. Each RSU and PSU grant reduces the available share pool by 2 shares.

	Shares Available
	for Grant
Balance at December 31, 2021	10,113,298
Options, RSUs and PSUs granted	(1,964,498)
Options, RSUs and PSUs cancelled	1,083,976
Balance at June 30, 2022	9,232,776