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Stock-Based Compensation (Tables)

6 Months Ended

Jun. 01, 2018

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

Restricted Stock Unit Activity

Restricted stock unit activity for the six months ended June 1, 2018 and the fiscal year ended December 1, 2017 was as follows (in thousands):

	2018			2017
Beginning outstanding balance	9,304			8,316
Awarded	3,324			5,018
Released	(3,206	)		(3,859	)
Forfeited	(376	)		(766	)
Increase due to acquisition	—			595
Ending outstanding balance	9,046			9,304

Restricted Stock Units Outstanding

Information regarding restricted stock units outstanding at June 1, 2018 and June 2, 2017 is summarized below:

	Number of Shares (thousands)			Weighted Average Remaining Contractual Life (years)		Aggregate Intrinsic Value(*) (millions)
2018
Restricted stock units outstanding	9,046			1.36		$	2,273.3
Restricted stock units vested and expected to vest	8,224			1.30		$	2,066.9
2017
Restricted stock units outstanding	9,655			1.42		$	1,385.4
Restricted stock units vested and expected to vest	8,741			1.36		$	1,254.2

^{_________________________________________} 

^(*)  The intrinsic value is calculated as the market value as of the end of the fiscal period. As reported by the NASDAQ Global Select Market, the market values as of June 1, 2018 and June 2, 2017 were $251.31 and $143.48, respectively. 

Performance Share Activity

The following table sets forth the summary of performance share activity under our Performance Share Programs for the six months ended June 1, 2018 and the fiscal year ended December 1, 2017 (in thousands): 

	2018						2017
	Shares Granted			Maximum Shares Eligible to Receive			Shares Granted			Maximum Shares Eligible to Receive
Beginning outstanding balance	1,534			3,068			1,630			3,261
Awarded	837		(1)	628			1,082		(2)	1,040
Achieved	(1,050	)		(1,054	)		(1,135	)		(1,147	)
Forfeited	(120	)		(240	)		(43	)		(86	)
Ending outstanding balance	1,201			2,402			1,534			3,068

^{_________________________________________} 

⁽¹⁾  Included in the 0.8 million shares awarded during the six months ended June 1, 2018 were 0.5 million shares awarded for the final achievement of the 2015 Performance Share program. The remaining awarded shares were for the 2018 Performance Share Program.

⁽²⁾  Included in the 1.1 million shares awarded during the fiscal year ended December 1, 2017 were 0.6 million shares awarded for the final achievement of the 2014 Performance Share program. The remaining awarded shares were for the 2017 Performance Share Program.

Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions

There were no stock purchases under the Employee Stock Purchase Plan (“ESPP”) during the three months ended June 1, 2018 and June 2, 2017. The expected life of the ESPP shares is the average of the remaining purchase periods under each offering period. The assumptions used to value employee stock purchase rights during the six months ended June 1, 2018 and June 2, 2017 were as follows:

	2018		2017
Expected life (in years)	0.5 - 2.0		0.5 - 2.0
Volatility	26% - 27%		22% - 25%
Risk free interest rate	1.54% - 1.89%		0.62% - 1.2%

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs

Total stock-based compensation costs included in our condensed consolidated statements of income for the three months ended June 1, 2018 and June 2, 2017 were as follows (in thousands):

		2018								2017
Income Statement Classifications		Option Grants and Stock Purchase Rights				Restricted Stock Units and Performance Share Awards				Option Grants and Stock Purchase Rights				Restricted Stock Units and Performance Share Awards
Cost of revenue—subscription		$	729			$	4,526			$	878			$	4,673
Cost of revenue—services and support		1,647				2,680				1,501				1,677
Research and development		5,301				63,608				4,435				42,539
Sales and marketing		5,443				42,747				4,801				35,439
General and administrative		1,350				17,346				1,262				19,615
Total		$	14,470			$	130,907			$	12,877			$	103,943

Total stock-based compensation costs included in our condensed consolidated statements of income for the six months ended June 1, 2018 and June 2, 2017 were as follows (in thousands):

		2018								2017
Income Statement Classifications		Option Grants and Stock Purchase Rights				Restricted Stock Units and Performance Share Awards				Option Grants and Stock Purchase Rights				Restricted Stock Units and Performance Share Awards
Cost of revenue—subscription		$	1,497			$	8,470			$	1,271			$	6,834
Cost of revenue—services and support		3,663				5,666				3,224				4,742
Research and development		10,649				117,681				8,467				75,633
Sales and marketing		10,763				81,595				9,189				67,904
General and administrative		2,830				38,088				2,492				37,931
Total		$	29,402			$	251,500			$	24,643			$	193,044

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Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed.

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Tabular disclosure of number, weighted-average exercise price or conversion ratio, aggregate intrinsic value, and weighted-average remaining contractual term for outstanding restricted stock units that are fully vested and expected to vest. Includes, but is not limited to, unvested restricted stock units for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur.

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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.

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