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Stockholders' Equity and Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2017

Summary of Nonvested Restricted Stock Awards Activity

The following table summarizes restricted stock awards activity for the year ended December 31, 2017:

	Time-Based Restricted Stock Awards								Market-Based Restricted Stock Awards
	Shares				Weighted Average Grant Date Fair Value				Shares				Weighted Average Grant Date Fair Value
Unvested shares of restricted stock   outstanding at December 31, 2016		1,429,514			$	20.56				738,425			$	28.68
Granted		309,526			$	60.00				314,021			$	48.63
Vested		(681,699	)		$	6.67				(1,014,429	)		$	34.44
Forfeited		(168,661	)		$	35.20				(38,017	)		$	39.87
Unvested shares of restricted stock   outstanding at December 31, 2017		888,680			$	42.17				-			$	-

Non-cash Stock-based Compensation Resulting From Restricted Stock Awards

The following table presents non-cash stock-based compensation expense resulting from restricted stock awards, which is included in the following line items in the accompanying consolidated statements of income for the years ended December 31, 2017, 2016 and 2015 (dollars in thousands):

		Year Ended December 31,
		2017				2016				2015
Operating expense		$	3,950			$	2,217			$	235
Sales and marketing			6,086				3,656				559
Research and development			1,912				836				104
General and administrative			26,565				15,837				2,112
Total non-cash stock-based compensation expense		$	38,513			$	22,546			$	3,010

Restricted Stock [Member]

Summary of Grant-Date Fair Values of Restricted Stock Granted and Related Assumptions

The following table presents a summary of the grant-date fair values of restricted stock granted during the years ended December 31, 2017, 2016 and 2015 and the related assumptions:

		Year Ended December 31,
		2017				2016				2015
Grant-date fair value of restricted stock		$46.78 - $60.67				$23.15 - $49.34				$21.76 - $33.33
Risk-free interest rates		1.85%				1.28% - 1.36%				2.2%
Estimated volatility		23.0%				21.0% - 23.0%				26.0%
Expected life (in years)			2.3				2.7				3.6

Market-based Restricted Stock [Member]

Summary of Market-based Restricted Stock Vesting Activity

The following table summarizes market-based restricted stock vesting activity during the year ended December 31, 2017, the associated compensation cost recognized in connection with the vesting event and the number of shares withheld to satisfy tax withholding obligations:

Vesting Condition	Date Vested		Number of Shares Vested				Compensation Cost Recognized Upon Vesting (in millions)		Shares Withheld for Taxes1
Market-based (TEV = $3.5 billion)	May 13, 2017			229,075			$2.9			91,274
Market-based (TEV = $3.9 billion)	June 20, 2017			248,250			$5.2			103,907
Market-based (TEV = $4.15 billion)	August 25, 2017			153,764			$5.5			65,309
Market-based (TEV = $4.2 billion)	September 7, 2017			244,850			$4.2			102,548
Market-based (TEV = $4.45 billion)	October 13, 2017			138,490			$4.3			57,916

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