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Stock-Based Compensation (Tables)

6 Months Ended

May 31, 2019

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

Restricted Stock Unit Activity

Restricted stock unit activity for the six months ended May 31, 2019 was as follows (in thousands):

	2019
Beginning outstanding balance	8,668
Awarded	3,731
Released	(3,221	)
Forfeited	(386	)
Ending outstanding balance	8,792

Restricted Stock Units Outstanding

Information regarding restricted stock units outstanding at May 31, 2019 and June 1, 2018 is summarized below:

	Number of Shares (thousands)			Weighted Average Remaining Contractual Life (years)		Aggregate Intrinsic Value(*) (millions)
2019
Restricted stock units outstanding	8,792			1.44		$	2,381.8
Restricted stock units expected to vest	7,950			1.37		$	2,153.5
2018
Restricted stock units outstanding	9,046			1.36		$	2,273.3
Restricted stock units expected to vest	8,224			1.30		$	2,066.9

^{_________________________________________} 

^(*) 

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 May 31, 2019 and June 1, 2018 were $270.90 and $251.31, respectively. 

Performance Share Activity

The following table sets forth the summary of performance shares activity for the six months ended May 31, 2019 (in thousands): 

	2019
	Shares Granted			Maximum Shares Eligible to Receive
Beginning outstanding balance	1,148			2,296
Awarded	722		(1)	614
Achieved	(830	)	(2)	(830	)
Forfeited	(23	)		(46	)
Ending outstanding balance	1,017			2,034

^{_________________________________________} 

⁽¹⁾  Included in the 0.7 million shares awarded during the six months ended May 31, 2019 were 0.4 million shares awarded for the final achievement of the 2016 Performance Share program. The remaining awarded shares were for the 2019 Performance Share Program.

⁽²⁾ 

Shares achieved under our 2016 Performance Share Program resulted from 200% achievement of target.

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

The assumptions used to value employee stock purchase rights during the six months ended May 31, 2019 and June 1, 2018 were as follows:

	2019		2018
Expected life (in years)	0.5 - 2.0		0.5 - 2.0
Volatility	35% - 37%		26% - 27%
Risk free interest rate	2.47% - 2.63%		1.54% - 1.89%

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 May 31, 2019 and June 1, 2018 were as follows (in thousands):

		2019								2018
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		$	1,500			$	6,491			$	729			$	4,526
Cost of revenue—services and support		1,757				4,152				1,647				2,680
Research and development		8,771				86,123				5,301				63,608
Sales and marketing		10,087				58,525				5,443				42,747
General and administrative		2,189				24,705				1,350				17,346
Total		$	24,304			$	179,996			$	14,470			$	130,907

Total stock-based compensation costs included in our condensed consolidated statements of income for the six months ended May 31, 2019 and June 1, 2018 were as follows (in thousands):

		2019								2018
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		$	2,890			$	11,673			$	1,497			$	8,470
Cost of revenue—services and support		3,755				7,969				3,663				5,666
Research and development		17,216				161,942				10,649				117,681
Sales and marketing		20,440				110,772				10,763				81,595
General and administrative		5,470				46,860				2,830				38,088
Total		$	49,771			$	339,216			$	29,402			$	251,500

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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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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of employee stock purchase plans, including, but not limited to: (a) expected term, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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