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Share-based Compensation (Tables) | 9 Months Ended
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Sep. 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 September 30, 2022:
|  | Stock Options Outstanding |
|  |  |  |  |  | Weighted Average |  |  | Aggregate |  |  | Weighted Average |
|  |  |  |  |  | Exercise Price |  |  | Intrinsic |  |  | Remaining Contractual |
|  | Shares |  |  | Per Share |  |  | Value |  |  | Term (Years) |
Balance as of July 1, 2022 |  |  | 1,489 |  |  | $ | 294.42 |  |  |  |  |  |  |  |  |
Granted |  |  | 60 |  |  | $ | 231.25 |  |  |  |  |  |  |  |  |
Exercised |  |  | (4 | ) |  | $ | 141.84 |  |  | $ | 491 |  |  |  |  |
Forfeited/Expired |  |  | (6 | ) |  | $ | 381.84 |  |  |  |  |  |  |  |  |
Balance as of September 30, 2022 |  |  | 1,539 |  |  | $ | 292.07 |  |  |  |  |  |  |  |  |
Exercisable as of September 30, 2022 |  |  | 727 |  |  | $ | 183.43 |  |  | $ | 53,146 |  |  |  | 3.6 |
Expected to vest as of September 30, 2022 |  |  | 812 |  |  | $ | 389.31 |  |  | $ | 13,107 |  |  |  | 8.7 |
Total |  |  | 1,539 |  |  | $ | 292.07 |  |  | $ | 66,253 |  |  |  | 6.3 |
Schedule of Range of Exercise Prices per Share | Stock options outstanding as of September 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 September 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 |  |  | 879 |  |  | $ | 136.87 |  |  |  | 4.2 |
$200.01 - $300.00 |  |  | 80 |  |  | $ | 239.61 |  |  |  | 9.9 |
$400.01 - $500.00 |  |  | 322 |  |  | $ | 408.66 |  |  |  | 9.3 |
$600.01 - $691.23 |  |  | 258 |  |  | $ | 691.23 |  |  |  | 8.4 |
Total |  |  | 1,539 |  |  | $ | 292.07 |  |  |  | 6.3 |
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 $153.74 and $334.40 for each share subject to a stock option granted during the three months ended September 30, 2022 and 2021, respectively, based on the following assumptions:
|  | Three months ended
|  | September 30,
|  | 2022 |  | 2021
Expected term of options in years |  | 6.3 |  | 6.3
Expected volatility |  | 70.9% |  | 57.6%
Risk-free interest rate |  | 3.5% |  | 1.0%
Expected dividend yield |  | 0.0% |  | 0.0%
Summary of Share-Settled Restricted Stock Unit Activity | As of September 30, 2022, there were 129,969 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 July 1, 2022 |  |  | 132 |  |  |  |  |
Granted |  |  | 7 |  |  |  |  |
Vested |  |  | (6 | ) |  | $ | 1,907 |
Forfeited |  |  | (3 | ) |  |  |  |
Balance as of September 30, 2022 |  |  | 130 |  |  |  |  |
Expected to vest as of September 30, 2022 |  |  | 130 |  |  | $ | 27,587 |
Summary of Components of Tax Benefit Related To Equity Plan | For the three and nine months ended September 30, 2022 and 2021, tax benefit related to the Company’s equity plans was as follows (in thousands):
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Tax (benefit) expense related to: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Share-based compensation expense |  | $ | (2,906 | ) |  | $ | (2,212 | ) |  | $ | (9,146 | ) |  | $ | (5,489 | )
Exercises of stock options and vesting of share-settled restricted stock units |  |  | 680 |  |  |  | (3,687 | ) |  |  | 790 |  |  |  | (25,964 | )
Total tax benefit related to the Company's equity plans |  | $ | (2,226 | ) |  | $ | (5,899 | ) |  | $ | (8,356 | ) |  | $ | (31,453 | )

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