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Authorized shares of common and preferred stock and stock-based compensation plans
 12 Months Ended
Dec. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Authorized shares of common and preferred stock and stock-based compensation plans Authorized shares of common and preferred stock and stock-based compensation plans  
Authorized shares of common and preferred stock
Following approval by the Company’s Board of Directors and stockholders, on May 14, 2013, the Company’s certificate of incorporation was amended to increase the authorized shares of common stock by 180,000,000 shares to a total of 360,000,000 shares.  As a result of this amendment, the total number of shares which the Company is authorized to issue is 365,000,000 shares, consisting of (i) 5,000,000 shares of preferred stock, par value $0.01 per share, and (ii) 360,000,000 shares of common stock, par value $0.01 per share.

Restricted stock unit plans  
Our stockholders approved our 2005 Incentive Plan (the “2005 Plan”) in May 2005. At the time of approval, 4,050,000 shares of our common stock were reserved for issuance under this plan, as well as the number of shares which had been reserved but not issued under our 1994 Incentive Plan, which terminated in May 2005 (The "1994 Plan"), and any shares that returned to the 1994 Plan as a result of termination of options or repurchase of shares issued under such plan. The 2005 Plan provided for the granting of incentive awards in the form of restricted stock and RSUs to directors, executive officers and employees of the Company and its subsidiaries. Awards vest over a three, five or ten-year period, beginning on the date of grant. Vesting of ten-year awards may accelerate based on the Company’s previous year’s earnings and growth but ten-year awards cannot accelerate to vest over a period of less than five years. The 2005 Plan terminated on May 11, 2010, except with respect to outstanding awards previously granted thereunder. There were 3,362,304 shares of common stock that were reserved but not issued under the 1994 Plan and the 2005 Plan as of May 11, 2010.  
Our stockholders approved our 2010 Incentive Plan (the “2010 Plan”) on May 11, 2010. At the time of approval, 3,000,000 shares of our common stock were reserved for issuance under this plan, as well as the 3,362,304 shares of common stock that were reserved but not issued under the 1994 Plan and the 2005 Plan as of May 11, 2010, and any shares that are returned to the 1994 Plan and the 2005 Plan as a result of forfeiture or termination of options or RSUs or repurchase of shares issued under those plans. The 2010 Plan provided for the granting of incentive awards in the form of restricted stock and RSUs to employees, directors and consultants of the Company and employees and consultants of any parent or subsidiary of the Company. Awards vest over a three, five or ten-year period, beginning on the date of grant. Vesting of ten-year awards may accelerate based on the Company’s previous year’s earnings and growth but ten-year awards cannot accelerate to vest over a period of less than five years. The 2010 plan terminated on May 12, 2015, except with outstanding awards previously granted there under. There were 2,518,416 shares of common stock that were reserved but not issued under the 2010 Plan as of May 12, 2015.
Our stockholders approved our 2015 Equity Incentive Plan (the “2015 Plan”) on May 12, 2015. At the time of approval, 3,000,000 shares of our common stock were reserved for issuance under this plan, as well as the 2,518,416 shares of common stock that were reserved but not issued under the 2010 Plan, and any shares that were returned to the 1994, 2005, and the 2010 Plans as a result of the forfeiture or termination of options or RSUs or repurchase of shares issued under those plans. The 2015 Plan provides for the granting of incentive awards in the form of restricted stock and RSUs to employees, directors and consultants of the Company and employees and consultants of any parent or subsidiary of the Company. Awards vest over a three, four, five or ten-year period, beginning on the date of grant. Vesting of ten-year awards may accelerate based on the Company’s previous year’s earnings and growth but ten-year awards cannot accelerate to vest over a period of less than five years. There were 1,920,771 shares available for grant under the 2015 Plan at December 31, 2019.  
During the year ended December 31, 2019, we did not make any changes in accounting principles or methods of estimates related to the 2010 and 2015 Plans.  Transactions under our 2010 Plan and 2015 Plan are summarized as follows:

 
RSUs

 
Number of RSUs
 
Weighted average grant price per share
Outstanding at December 31, 2016
 
2,806,201

 
$
28.76

Granted
 
1,205,920

 
$
34.57

Earned
 
(666,786
)
 
$
28.05

Canceled
 
(192,371
)
 
$
29.73

Outstanding at December 31, 2017
 
3,152,964

 
$
31.07

Granted
 
1,100,067

 
$
48.42

Earned
 
(823,816
)
 
$
30.78

Canceled
 
(250,679
)
 
$
34.13

Outstanding at December 31, 2018
 
3,178,536

 
$
36.91

Granted
 
1,306,387

 
$
46.76

Earned
 
(958,995
)
 
$
35.86

Canceled
 
(236,291
)
 
$
38.82

Outstanding at December 31, 2019
 
3,289,637

 
$
40.99


Total unrecognized stock-based compensation expense related to non-vested RSUs was approximately $151.6 million as of December 31, 2019, related to 3,289,637 shares with a per share weighted average fair value of $40.99. We anticipate this expense to be recognized over a weighted average period of approximately 2.89 years.
Employee stock purchase plan  
Our employee stock purchase plan permits substantially all domestic employees and employees of designated subsidiaries to acquire our common stock at a purchase price of 85% of the lower of the market price at the beginning or the end of the purchase period. The plan has quarterly purchase periods generally beginning on February 1, May 1, August 1 and November 1 of each year. Employees may designate up to 15% of their compensation for the purchase of common stock under this plan. On May 14, 2019, our stockholders approved an additional 3,000,000 shares for issuance under our employee stock purchase plan, and at December 31, 2019, we had 4,085,770 shares of common stock reserved for future issuance under this plan. We issued 909,274 shares under this plan in the year ended December 31, 2019. The weighted average purchase price of the shares under this plan was $36.50 per share. The grant date fair value of the purchase rights was estimated using the Black-Scholes model with the following assumptions: 
໿

 
2019
 
2018
 
2017
Dividend yield
 
0.558
%
 
0.518
%
 
0.650
%
Expected life
 
3 months

 
3 months

 
3 months

Expected volatility
 
34
%
 
24
%
 
18
%
Risk-free interest rate
 
2.32
%
 
1.39
%
 
0.48
%

Weighted average, grant date fair value of purchase rights granted under the employee stock purchase plan are as follows:

 
Number of Shares
 
Weighted average fair value per share
2017
 
1,065,154

 
$
6.80

2018
 
872,853

 
$
8.97

2019
 
909,274

 
$
9.40


During the year ended December 31, 2019, we did not make any changes in accounting principles or methods of estimates with respect to the employee stock purchase plan.  
Authorized Preferred Stock and Preferred Stock Purchase Rights Plan  
We have 5,000,000 authorized shares of preferred stock. On January 21, 2004, our Board of Directors designated 750,000 of these shares as Series A Participating Preferred Stock in conjunction with its adoption of a Preferred Stock Rights Agreement which expired on May 10, 2014. There were no shares of preferred stock issued and outstanding as of December 31, 2019.  
Stock repurchases and retirements
Our Board of Directors has authorized a program to repurchase shares of our common stock from time to time, depending on market conditions and other factors. On January 23, 2019, our Board of Directors amended our stock repurchase program to increase the number of shares that may be repurchased to 4,000,000 shares. On October 23, 2019, our Board of Directors amended our stock repurchase program to increase the number of shares that may be repurchased by 3,000,000 shares. Under the current program, during the three months ended December 31, 2019, we repurchased 794,324 shares of our common stock at a weighted average price per share at $42.98 and during the twelve months ended December 31, 2019, we repurchased 4,000,000 shares of our common stock at a weighted average price per share of $42.83. We did not repurchase any shares during the twelve months ended December 31, 2018. At December 31, 2019, there were 3,000,000 shares remaining available for repurchase under this program. This repurchase program does not have an expiration date.