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Share-based Compensation (Tables) | 6 Months Ended
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Jun. 30, 2022
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] |
Summary of Stock Option Activity | The following table summarizes the Company’s stock option activity (in thousands, except per share data and years) for the three months ended June 30, 2022:
|  | Stock Options Outstanding |
|  |  |  |  |  | Weighted Average |  |  | Aggregate |  |  | Weighted Average |
|  |  |  |  |  | Exercise Price |  |  | Intrinsic |  |  | Remaining Contractual |
|  | Shares |  |  | Per Share |  |  | Value |  |  | Term (Years) |
Balance as of April 1, 2022 |  |  | 1,466 |  |  | $ | 296.80 |  |  |  |  |  |  |  |  |
Granted |  |  | 35 |  |  | $ | 235.87 |  |  |  |  |  |  |  |  |
Exercised |  |  | (3 | ) |  | $ | 135.54 |  |  | $ | 251 |  |  |  |  |
Forfeited/Expired |  |  | (9 | ) |  | $ | 527.71 |  |  |  |  |  |  |  |  |
Balance as of June 30, 2022 |  |  | 1,489 |  |  | $ | 294.42 |  |  |  |  |  |  |  |  |
Exercisable as of June 30, 2022 |  |  | 720 |  |  | $ | 185.18 |  |  | $ | 22,425 |  |  |  | 3.8 |
Expected to vest as of June 30, 2022 |  |  | 769 |  |  | $ | 396.66 |  |  | $ | 3,395 |  |  |  | 8.8 |
Total |  |  | 1,489 |  |  | $ | 294.42 |  |  | $ | 25,820 |  |  |  | 6.4 |
Schedule of Range of Exercise Prices per Share | Stock options outstanding as of June 30, 2022 are comprised of the following range of exercise prices per share (in thousands, except per share data and years):
|  | Stock Options Outstanding at June 30, 2022 |
|  |  |  |  |  | Weighted Average |  |  | Weighted Average |
|  |  |  |  |  | Exercise Price |  |  | Remaining Contractual |
Range of Exercise Prices per Share |  | Shares |  |  | Per Share |  |  | Term (Years) |
$121.43 - $200.00 |  |  | 885 |  |  | $ | 136.93 |  |  |  | 4.5 |
$200.01 - $300.00 |  |  | 20 |  |  | $ | 264.69 |  |  |  | 9.9 |
$400.01 - $500.00 |  |  | 324 |  |  | $ | 408.64 |  |  |  | 9.6 |
$600.01 - $691.23 |  |  | 260 |  |  | $ | 691.23 |  |  |  | 8.6 |
Total |  |  | 1,489 |  |  | $ | 294.42 |  |  |  | 6.4 |
Assumptions Used in Black-Scholes Pricing Model | The weighted average grant date fair value of stock option awards using the Black-Scholes valuation model was $152.69 and $252.81 for each share subject to a stock option granted during the three months ended June 30, 2022 and 2021, respectively, based on the following assumptions:
|  | Three months ended
|  | June 30,
|  | 2022 |  | 2021
Expected term of options in years |  | 6.3 |  | 6.3
Expected volatility |  | 69.2% - 69.5% |  | 56.8%
Risk-free interest rate |  | 2.8% - 2.9% |  | 1.1%
Expected dividend yield |  | 0.0% |  | 0.0%
Summary of Share-Settled Restricted Stock Unit Activity | As of June 30, 2022, there were 131,953 share-settled restricted stock units outstanding under the 2013 Equity Plan. The following table summarizes the Company’s share-settled restricted stock unit activity (in thousands) for the periods indicated:
|  | Share-Settled Restricted Stock Units Outstanding |
|  |  |  |  |  | Aggregate |
|  |  |  |  |  | Intrinsic |
|  | Units |  |  | Value |
Balance as of April 1, 2022 |  |  | 108 |  |  |  |  |
Granted |  |  | 28 |  |  |  |  |
Vested |  |  | 0 |  |  | $ | 134 |
Forfeited |  |  | (4 | ) |  |  |  |
Balance as of June 30, 2022 |  |  | 132 |  |  |  |  |
Expected to vest as of June 30, 2022 |  |  | 132 |  |  | $ | 21,680 |
Summary of Components of Tax (benefit) Expense Related To Equity Plan | For the three and six months ended June 30, 2022 and 2021, tax (benefit) expense related to the Company’s equity plans was as follows (in thousands):
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, |  |  | June 30, |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Tax (benefit) expense related to: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Share-based compensation expense |  | $ | (3,343 | ) |  | $ | (1,992 | ) |  | $ | (6,240 | ) |  | $ | (3,277 | )
Exercises of stock options and vesting of share-settled restricted stock units |  |  | 57 |  |  |  | (153 | ) |  |  | 110 |  |  |  | (22,277 | )
Total tax benefit related to the Company's equity plans |  | $ | (3,286 | ) |  | $ | (2,145 | ) |  | $ | (6,130 | ) |  | $ | (25,554 | )

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