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Stock-Based Compensation (Tables)

9 Months Ended

Aug. 31, 2018

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

Restricted Stock Unit Activity

Restricted stock unit activity for the nine months ended August 31, 2018 and the fiscal year ended December 1, 2017 was as follows (in thousands):

	2018			2017
Beginning outstanding balance	9,304			8,316
Awarded	3,742			5,018
Released	(3,686	)		(3,859	)
Forfeited	(525	)		(766	)
Increase due to acquisition	—			595
Ending outstanding balance	8,835			9,304

Restricted Stock Units Outstanding

Information regarding restricted stock units outstanding at August 31, 2018 and September 1, 2017 is summarized below:

	Number of Shares (thousands)			Weighted Average Remaining Contractual Life (years)		Aggregate Intrinsic Value(*) (millions)
2018
Restricted stock units outstanding	8,835			1.23		$	2,328.1
Restricted stock units vested and expected to vest	8,104			1.18		$	2,135.7
2017
Restricted stock units outstanding	9,443			1.27		$	1,464.2
Restricted stock units vested and expected to vest	8,636			1.22		$	1,339.1

^{_________________________________________} 

^(*)  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 August 31, 2018 and September 1, 2017 were $263.51 and $155.06, respectively. 

Performance Share Activity

The following table sets forth the summary of performance share activity under our Performance Share Programs for the nine months ended August 31, 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	)		(1,053	)		(1,135	)		(1,147	)
Forfeited	(165	)		(331	)		(43	)		(86	)
Ending outstanding balance	1,156			2,312			1,534			3,068

^{_________________________________________} 

⁽¹⁾  Included in the 0.8 million shares awarded during the nine months ended August 31, 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

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 three and nine months ended August 31, 2018 and September 1, 2017 were as follows:

	Three Months					Nine Months
	2018			2017		2018		2017
Expected life (in years)	0.5 - 2.0			0.5 - 2.0		0.5 - 2.0		0.5 - 2.0
Volatility	29	%		25% - 27%		26% - 29%		22% - 27%
Risk free interest rate	2.09% - 2.52%			1.12% - 1.41%		1.54% - 2.52%		0.62% - 1.41%

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 August 31, 2018 and September 1, 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		$	934			$	4,509			$	628			$	3,633
Cost of revenue—services and support		1,930				2,789				1,626				2,409
Research and development		6,347				66,308				4,608				43,243
Sales and marketing		7,551				47,885				4,658				36,064
General and administrative		2,932				17,853				1,140				19,033
Total		$	19,694			$	139,344			$	12,660			$	104,382

Total stock-based compensation costs included in our condensed consolidated statements of income for the nine months ended August 31, 2018 and September 1, 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		$	2,431			$	12,979			$	1,899			$	10,467
Cost of revenue—services and support		5,593				8,455				4,850				7,151
Research and development		16,997				183,989				12,884				119,068
Sales and marketing		18,314				129,480				13,832				103,982
General and administrative		5,762				55,941				3,623				56,972
Total		$	49,097			$	390,844			$	37,088			$	297,640

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