XML 38 R27.htm IDEA: XBRL DOCUMENT v3.25.3

SHARE-BASED COMPENSATION (Tables)

9 Months Ended

Sep. 30, 2025

Share-Based Payment Arrangement [Abstract]

Summary of RSU Activity

RSU activity under all stock plans for the nine months ended September 30, 2025, was as follows (in millions, except per share amounts):

			Shares						Weighted-Average Grant-Date Fair Value
Unvested balance as of December 31, 2024			5.2						$	314.39
RSUs granted			1.7						$	572.93
RSUs vested			(1.9)						$	295.37
RSUs forfeited			(0.2)						$	365.78
Unvested balance as of September 30, 2025			4.8						$	409.25

Summary of Stock Option Activity Under All Stock Plans

Stock option activity under all stock plans for the nine months ended September 30, 2025, was as follows (in millions, except per share amounts):

						Stock Options Outstanding
						Number Outstanding						Weighted-Average Exercise Price Per Share
Balance as of December 31, 2024						7.1						$	192.90
Options granted						—						$	—
Options exercised						(1.1)						$	134.37
Options forfeited or expired						(0.1)						$	244.44
Balance as of September 30, 2025						5.9						$	203.23

Share-Based Payment Arrangement, Performance Shares, Activity

PSU activity for the nine months ended September 30, 2025, was as follows (in millions, except per share amounts):

						Shares						Weighted-Average Grant Date Fair Value Per Share
Unvested balance as of December 31, 2024						0.3						$	306.94
Granted						0.1						$	575.73
Vested						(0.1)						$	294.89
Performance change						—						$	268.39
Forfeited						—						$	366.96
Unvested balance as of September 30, 2025						0.3						$	374.67

Summary of Share-Based Compensation Expense

The following table summarizes share-based compensation expense (in millions):

			Three Months Ended September 30,												Nine Months Ended September 30,
			2025						2024						2025						2024
Cost of revenue – product (before capitalization)			$	33.0					$	27.5					$	97.0					$	75.7
Amounts capitalized into inventory			(31.1)						(25.6)						(90.9)						(70.7)
Amounts recognized in income for amounts previously capitalized in inventory			29.6						23.0						85.9						66.2
Cost of revenue – product			$	31.5					$	24.9					$	92.0					$	71.2
Cost of revenue – service			8.8						7.9						25.6						22.5
Total cost of revenue			40.3						32.8						117.6						93.7
Selling, general, and administrative			88.1						77.6						256.7						225.4
Research and development			77.6						65.4						221.3						188.7
Share-based compensation expense before income taxes			206.0						175.8						595.6						507.8
Income tax benefit			42.5						36.9						118.8						105.4
Share-based compensation expense after income taxes			$	163.5					$	138.9					$	476.8					$	402.4

Schedule of Estimated Fair Value of the Option Using Black-Scholes Option Pricing Model, Weighted Average Assumptions

:

			Three Months Ended September 30,												Nine Months Ended September 30,
			2025						2024						2025						2024
ESPP
Risk-free interest rate			3.8%						4.6%						4.0%						4.6%
Expected term (in years)			1.2						1.2						1.2						1.2
Expected volatility			32%						29%						31%						29%
Fair value at grant date			$142.19						$131.01						$154.69						$130.00

X

- References

No definition available.

+ Details

Name:	us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-SubTopic 10
-Topic 718
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-SubTopic 10
-Topic 718
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the weighted-average grant-date fair value of equity options or other equity instruments granted during the year.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (d)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValueTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of number and weighted-average grant date fair value for nonvested performance shares.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Subparagraph (c)
-Paragraph 2
-SubTopic 10
-Topic 718
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ShareBasedCompensationPerformanceSharesAwardUnvestedActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration