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Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2022
Share-Based Payment Arrangement [Abstract] |
Schedule of Shares Reserved and Shares Available for Grant | As of December 31, 2022, 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 |  |  | 2,497,134 |
2020 Equity Incentive Plan | 4,403,832 |  |  | 3,213,089 |
Schedule 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, 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 |  |  |  |  |
RSUs granted | 776,628 |  |  | 679.59 |  |  |  |  |
RSUs released, vested | (633,466) |  |  | 505.40 |  |  |  |  |
Special distribution shares released | (34) |  |  | 297.03 |  |  |  |  |
RSUs canceled | (123,168) |  |  | 561.34 |  |  |  |  |
RSUs outstanding, December 31, 2021 | 1,357,594 |  |  | 594.27 |  |  |  |  |
RSUs granted | 912,249 |  |  | 661.43 |  |  |  |  |
RSUs released, vested | (668,733) |  |  | 576.62 |  |  |  |  |
RSUs canceled | (155,418) |  |  | 624.98 |  |  |  |  |
RSUs outstanding, December 31, 2022 | 1,445,692 |  |  | $ | 641.51 |  |  | 1.26 |  | $ | 946,971 |
(1)The intrinsic value is calculated based on the market value of the stock as of December 31, 2022.
Schedule of Disclosures for 2004 Purchase Plan | We provide the following disclosures for the 2004 Purchase Plan as of December 31 (dollars, except shares):
| 2022 |  | 2021 |  | 2020
Weighted-average purchase price per share | $ | 568.29 |  |  | $ | 467.59 |  |  | $ | 371.71 |
Weighted average grant-date fair value per share of shares purchased | $ | 202.61 |  |  | $ | 138.80 |  |  | $ | 114.08 |
Number of shares purchased | 143,515 |  |  | 166,023 |  |  | 167,113 |
Schedule of Assumptions in Computation of Fair Value | We use 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:
| 2022 |  | 2021 |  | 2020
Range of dividend yield | 1.48% - 1.55% |  | 1.58 - 1.77% |  | 1.94 - 2.08%
Range of risk-free interest rate | 0.72% - 3.06% |  | 0.01 - 0.21% |  | 0.10 - 1.55%
Range of expected volatility | 25.73% - 37.20% |  | 25.54 - 41.24% |  | 19.28 - 51.93%
Weighted-average expected volatility | 30.34 | % |  | 34.08 | % |  | 32.94 | %
Weighted average expected life (in years) | 1.06 |  | 1.18 |  | 1.36
Schedule of Allocated share-based Compensation | The following table presents, by operating expense, our stock-based compensation expense recognized in our consolidated statement of operations for the years ended December 31 (in thousands):
| 2022 |  | 2021 |  | 2020
Cost of revenues | $ | 45,028 |  |  | $ | 38,438 |  |  | $ | 32,893 |
Sales and marketing | 82,794 |  |  | 79,144 |  |  | 72,895 |
General and administrative | 276,161 |  |  | 246,192 |  |  | 205,232 |
Total | $ | 403,983 |  |  | $ | 363,774 |  |  | $ | 311,020 |
Schedule of share-based Compensation by Plan | Our 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):
| 2022 |  | 2021 |  | 2020
RSUs | $ | 359,952 |  |  | $ | 330,077 |  |  | $ | 289,426 |
RSAs(1) | 9,793 |  |  | 10,067 |  |  | 8,289 |
Employee stock purchase plan | 34,238 |  |  | 23,630 |  |  | 13,305 |
Total | $ | 403,983 |  |  | $ | 363,774 |  |  | $ | 311,020 |
(1) During the year ended December 31, 2020, we awarded 48,799 shares of RSAs. See Note 1 for further discussion.

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