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Stockholders' Equity (Tables) | 12 Months Ended
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Dec. 31, 2022
Stockholders' Equity |
Equity Compensation Goals | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
Revenue Goal (1) (in thousands) | ​ | Achievement Status | ​ | Adjusted EBITDA (in thousands) | ​ | Achievement Status
Goal #1, $710,058 | ​ | Achieved | ​ | Goal #1, $125,000 | ​ | Achieved
Goal #2, $860,058 | ​ | Achieved | ​ | Goal #2, $155,000 | ​ | Achieved
Goal #3, $1,010,058 | ​ | Achieved | ​ | Goal #3, $175,000 | ​ | Achieved
Goal #4, $1,210,058 | ​ | Probable | ​ | Goal #4, $190,000 | ​ | Achieved
Goal #5, $1,410,058 | ​ | Not Applicable | ​ | Goal #5, $200,000 | ​ | Achieved
Goal #6, $1,610,058 | ​ | Not Applicable | ​ | Goal #6, $210,000 | ​ | Achieved
Goal #7, $1,810,058 | ​ | Not Applicable | ​ | Goal #7, $220,000 | ​ | Achieved
Goal #8, $2,010,058 | ​ | Not Applicable | ​ | Goal #8, $230,000 | ​ | Achieved
​
(1) | In connection with the business acquisition that was completed during the three months ended June 30, 2018, the revenue goals were adjusted for the acquiree’s Target Revenue, as defined in the CEO Performance Award agreement.
Summary of Restricted Stock Unit Activity | The following table summarizes RSU activity for the years ended December 31 (number of units and aggregate intrinsic value in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2022 | ​ | 2021 | ​ | 2020
​ | ​ | ​ | ​ | ​ | Weighted | ​ | ​ | ​ | Weighted | ​ | ​ | ​ | Weighted
​ | ​ | Number | ​ | Average | ​ | Number | ​ | Average | ​ | Number | ​ | Average
​ | ​ | of | ​ | Grant-Date | ​ | of | ​ | Grant-Date | ​ | of | ​ | Grant-Date
​ |  | Units |  | Fair Value |  | Units |  | Fair Value |  | Units |  | Fair Value
Units outstanding, beginning of year | ​ |  | 1,115 |  | $ | 133.40 |  | 1,107 |  | $ | 76.10 |  | 1,249 |  | $ | 45.47
Granted | ​ |  | 1,142 | ​ |  | 143.03 |  | 686 | ​ |  | 165.67 |  | 577 | ​ |  | 100.76
Released | ​ |  | (541) | ​ |  | 117.49 |  | (554) | ​ |  | 66.23 |  | (598) | ​ |  | 40.68
Forfeited | ​ |  | (151) | ​ |  | 138.99 |  | (124) | ​ |  | 100.64 |  | (121) | ​ |  | 52.40
Units outstanding, end of year | ​ |  | 1,565 | ​ |  | 145.48 |  | 1,115 | ​ |  | 133.40 |  | 1,107 | ​ |  | 76.10
Aggregate intrinsic value at year end | ​ | $ | 259,729 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​
Summary of Performance Stock Unit Activity | The following table summarizes PSU activity, inclusive of XSUs, for the years ended December 31 (number of units and aggregate intrinsic value in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2022 | ​ | 2021 | ​ | 2020
​ | ​ | ​ | ​ | ​ | Weighted | ​ | ​ | ​ | Weighted | ​ | ​ | ​ | Weighted
​ | ​ | Number | ​ | Average | ​ | Number | ​ | Average | ​ | Number | ​ | Average
​ | ​ | of | ​ | Grant-Date | ​ | of | ​ | Grant-Date | ​ | of | ​ | Grant-Date
​ |  | Units |  | Fair Value |  | Units |  | Fair Value |  | Units |  | Fair Value
Units outstanding, beginning of year | ​ |  | 1,499 |  | $ | 39.86 |  | 5,618 |  | $ | 35.71 |  | 6,033 |  | $ | 34.47
Granted | ​ |  | 158 | ​ |  | 106.57 |  | 309 | ​ |  | 77.53 |  | 417 | ​ |  | 58.11
Released | ​ |  | (78) | ​ |  | 107.58 |  | (4,345) | ​ |  | 37.16 |  | (184) | ​ |  | 27.79
Forfeited | ​ |  | (210) | ​ |  | 41.62 |  | (83) | ​ |  | 40.91 |  | (648) | ​ |  | 40.83
Units outstanding, end of year | ​ |  | 1,369 | ​ |  | 43.43 |  | 1,499 | ​ |  | 39.86 |  | 5,618 | ​ |  | 35.71
Aggregate intrinsic value at year end | ​ | $ | 227,125 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​
Summary of the Company's Stock Options Activity | The following table summarizes stock option activity for the years ended December 31 (number of options in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2022 | ​ | 2021 | ​ | 2020
​ | ​ | ​ | ​ | ​ | Weighted | ​ | ​ | ​ | Weighted | ​ | ​ | ​ | Weighted
​ | ​ | Number | ​ | Average | ​ | Number | ​ | Average | ​ | Number | ​ | Average
​ | ​ | of | ​ | Exercise | ​ | of | ​ | Exercise | ​ | of | ​ | Exercise
​ |  | Options |  | Price |  | Options |  | Price |  | Options |  | Price
Options outstanding, beginning of year | ​ |  | 2,438 |  | $ | 28.58 | ​ | 6,366 |  | $ | 28.58 | ​ | 6,431 |  | $ | 28.34
Granted | ​ |  | — | ​ |  | — | ​ | — | ​ |  | — | ​ | — | ​ |  | —
Exercised | ​ |  | — | ​ |  | — | ​ | (3,928) | ​ |  | 28.58 | ​ | (65) | ​ |  | 4.52
Expired / terminated | ​ |  | — | ​ |  | — | ​ | — | ​ |  | — | ​ | — | ​ |  | —
Options outstanding, end of year | ​ |  | 2,438 | ​ |  | 28.58 | ​ | 2,438 | ​ |  | 28.58 | ​ | 6,366 | ​ |  | 28.58
Options exercisable, end of year | ​ | ​ | 1,377 | ​ | ​ | 28.58 | ​ | 1,377 | ​ | ​ | 28.58 | ​ | 530 | ​ | ​ | 28.58
​
Summary of Stock Options Outstanding and Exercisable | The following table summarizes information about stock options that were fully vested or expected to vest as of December 31, 2022 (number of options in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Options Outstanding | ​ | Options Exercisable
​ |  | ​ |  | ​ | ​ |  | Weighted |  | ​ |  | ​ | ​ |  | Weighted
​ | ​ | ​ | ​ | Weighted | ​ | Average | ​ | Weighted | ​ | ​ | ​ | Average
​ |  | Number of |  | Average |  | Remaining |  | Number of |  | Average |  | Remaining
Range of | ​ | Options | ​ | Exercise | ​ | Contractual | ​ | Options | ​ | Exercise | ​ | Contractual
Exercise Price |  | Outstanding |  | Price |  | Life (Years) |  | Exercisable |  | Price |  | Life (Years)
$28.58 |  | 1,377 | ​ | $ | 28.58 |  | 5.16 |  | 1,377 | ​ | $ | 28.58 |  | 5.16
​
Reported Share-Based Compensation | We account for stock-based compensation using the fair-value method. Reported stock-based compensation expense was classified as follows for the years ended December 31 (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021 |  | 2020
Cost of product and service sales | ​ | $ | 4,607 | ​ | $ | 5,844 | ​ | $ | 3,464
Sales, general and administrative expenses | ​ | ​ | 51,301 | ​ | ​ | 238,813 | ​ | ​ | 103,860
Research and development expenses | ​ | ​ | 50,268 | ​ | ​ | 58,674 | ​ | ​ | 26,248
Total stock-based compensation expense | ​ | $ | 106,176 | ​ | $ | 303,331 | ​ | $ | 133,572
Income tax benefit | ​ | $ | 25,154 |  | $ | 30,586 |  | $ | 29,329
​

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