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Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2020
Share-based Payment Arrangement [Abstract] |
Summary of Restricted Stock Unit Activity | RSUs activity is summarized as follows:
| Number of Shares Outstanding |  | Weighted Average Grant Date Fair Value per Share |  | Weighted Average Remaining Contractual Life (Years) |  | Aggregate Intrinsic Value (1) (Dollars in Thousands)
RSUs outstanding, December 31, 2017 | 1,303,891 |  |  | $ | 252.30 |  |  |  |  |
RSUs granted | 704,249 |  |  | 387.31 |  |  |  |  |
RSUs released, vested | (593,528) |  |  | 299.07 |  |  |  |  |
Special distribution shares released | (13,880) |  |  | 283.14 |  |  |  |  |
RSUs canceled | (173,460) |  |  | 336.75 |  |  |  |  |
Special distribution shares canceled | (485) |  |  | 295.77 |  |  |  |  |
RSUs outstanding, December 31, 2018 | 1,226,787 |  |  | 361.22 |  |  |  |  |
RSUs granted | 779,478 |  |  | 448.16 |  |  |  |  |
RSUs released, vested | (549,259) |  |  | 362.66 |  |  |  |  |
Special distribution shares released | (1,781) |  |  | 295.31 |  |  |  |  |
RSUs canceled | (142,477) |  |  | 364.42 |  |  |  |  |
Special distribution shares canceled | (23) |  |  | 297.04 |  |  |  |  |
RSUs outstanding, December 31, 2019 | 1,312,725 |  |  | 411.99 |  |  |  |  |
RSUs granted | 695,383 |  |  | 596.80 |  |  |  |  |
RSUs released, vested | (606,250) |  |  | 426.03 |  |  |  |  |
Special distribution shares released | (722) |  |  | 264.57 |  |  |  |  |
RSUs canceled | (63,502) |  |  | 457.91 |  |  |  |  |
RSUs outstanding, December 31, 2020 | 1,337,634 |  |  | $ | 499.60 |  |  | 1.22 |  | $ | 955,311 |
(1)The intrinsic value is calculated based on the market value of the stock as of December 31, 2020.
Disclosures for 2004 Purchase Plan | The Company provides the following disclosures for the 2004 Purchase Plan as of December 31 (dollars, except shares):
| 2020 |  | 2019 |  | 2018
Weighted-average purchase price per share | $ | 371.71 |  |  | $ | 354.72 |  |  | $ | 341.48 |
Weighted average grant-date fair value per share of shares purchased | $ | 114.08 |  |  | $ | 104.84 |  |  | $ | 90.04 |
Number of shares purchased | 167,113 |  |  | 146,640 |  |  | 145,346 |
Assumptions in Computation of Fair Value | The Company uses the Black-Scholes option-pricing model to determine the fair value of shares under the 2004 Purchase Plan with the following assumptions during the years ended December 31:
| 2020 |  | 2019 |  | 2018
Range of dividend yield | 1.94 - 2.08% |  | 2.07 - 2.09% |  | 1.97 - 2.00%
Range of risk-free interest rate | 0.10 - 1.55% |  | 1.55 - 2.58% |  | 1.79 - 2.68%
Range of expected volatility | 19.28 - 51.93% |  | 19.27 - 25.55% |  | 19.04 - 24.33%
Weighted-average expected volatility | 32.94 | % |  | 22.95 | % |  | 20.74 | %
Weighted average expected life (in years) | 1.36 |  | 1.24 |  | 1.43
Schedule of Allocated Share-based Compensation | The following table presents, by operating expense, the Company's stock-based compensation expense recognized in the Company's consolidated statement of operations for the years ended December 31 (in thousands):
| 2020 |  | 2019 |  | 2018
Cost of revenues | $ | 32,893 |  |  | $ | 25,355 |  |  | $ | 18,247 |
Sales and marketing | 72,895 |  |  | 56,719 |  |  | 53,448 |
General and administrative | 205,232 |  |  | 154,465 |  |  | 109,021 |
Total | $ | 311,020 |  |  | $ | 236,539 |  |  | $ | 180,716 |
Schedule of Share-based Compensation by Plan | The Company's stock-based compensation recognized in the consolidated statement of operations was comprised of the following types of equity awards for the years ended December 31 (in thousands):
| 2020 |  | 2019 |  | 2018
RSUs | $ | 289,426 |  |  | $ | 217,541 |  |  | $ | 165,141 |
RSAs(1) | 8,289 |  |  | — |  |  | — |
Employee stock purchase plan | 13,305 |  |  | 18,998 |  |  | 15,575 |
Total | $ | 311,020 |  |  | $ | 236,539 |  |  | $ | 180,716 |
(1) During the year ended December 31, 2020, the Company awarded 48,799 shares of RSAs. See Note 1 for further discussion.
Schedule of Shares Reserved and Shares Available for Grant | As of December 31, 2020, shares reserved and available for issuance under the equity compensation plans are as follows:
| Shares reserved |  | Shares available for grant
2004 Purchase Plan | 5,392,206 |  |  | 2,806,672 |
2020 Equity Incentive Plan | 4,687,435 |  |  | 4,623,380 |

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