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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 Stock-Based Compensation Expense Included in Consolidated Statements of Operations |
(in thousands) | 2022 |  | 2021 |  | 2020
Cost of revenue | $ | 26,400 |  |  | $ | 21,822 |  |  | $ | 20,796 |
Selling and marketing | 46,769 |  |  | 54,182 |  |  | 46,283 |
Research and development | 29,266 |  |  | 25,413 |  |  | 22,885 |
General and administrative | 19,775 |  |  | 14,530 |  |  | 13,104 |
| $ | 122,210 |  |  | $ | 115,947 |  |  | $ | 103,068 |
Income tax benefit | $ | (1,881) |  |  | $ | (23,410) |  |  | $ | (20,464) |
Schedule of Compensating Balances |
(in thousands) | 2022 |  |  |  |
Compensation expense from 2006 ESPP | $ | 1,614 |  |  |  |  |
Schedule of Weighted-Average Assumptions Used in Black-Scholes Option Valuation Model | The following table summarizes the Company’s fair value assumptions for stock options:
| 2022 |  | 2021 |  | 2020
Weighted-average grant-date fair value | $ | 17.49 |  |  | $ | 37.74 |  |  | $ | 24.16 |
Assumptions used in the Black-Scholes option-pricing model: |  |  |  |  |
Expected annual volatility (1) | 42 | % |  | 35 | % |  | 31 %
Expected term in years (2) | 3.9 |  | 4.4 |  | 4.5
Risk-free interest rate (3) | 3.4 | % |  | 0.6 | % |  | 0.7 | %
Expected annual dividend yield (4) | 0.1 | % |  | 0.2 | % |  | 0.2 | %
(1) The expected annual volatility for each grant is determined based on the average of historic daily price changes of the Company’s common stock over a period, which approximates the expected option term. (2) The expected option term for each grant is determined based on the historical exercise behavior of employees and post-vesting employment termination behavior. (3) The risk-free interest rate is based on the yield of U.S. Treasury securities with a commensurate maturity with the expected option term at the time of grant. (4) The expected annual dividend yield is based on the weighted-average dividend yield assumptions used for options granted during the applicable period.
Schedule of Combined Stock Option Activity | The following table summarizes the combined stock option activity under the Company’s stock option plans for 2022:
| Shares (in thousands) |  | Weighted-average Exercise Price |  | Weighted-average Remaining Contractual Term (in years) |  | Aggregate Intrinsic Value (in thousands)
Options outstanding as of January 1, 2022 | 7,189 |  |  | $ | 74.94 |  |  |  |  |
Granted | 9,725 |  |  | 50.35 |  |  |  |  |
Exercised | (572) |  |  | 25.17 |  |  |  |  |
Forfeited | (1,153) |  |  | 87.71 |  |  |  |  |
Expired | (278) |  |  | $ | 82.83 |  |  |  |  |
Options outstanding as of December 31, 2022 | 14,911 |  |  | $ | 59.67 |  |  |  |  |
Vested and expected to vest as of December 31, 2022 | 12,449 |  |  | $ | 59.06 |  |  | 8.1 |  | $ | 9,476 |
Exercisable as of December 31, 2022 | 3,901 |  |  | $ | 64.76 |  |  | 5.3 |  | $ | 8,056 |
Schedule of Combined Restricted Stock Units Activity | The following table summarizes the combined RSU activity for all grants, including the CICP, under the 2004 Plan for 2022:
| Shares (in thousands) |  | Weighted- Average Grant-Date Fair Value |  | Aggregate Intrinsic Value (in thousands)
Nonvested as of January 1, 2022 | 2,054 |  |  | $ | 99.36 |  |  |
Granted | 1,571 |  |  | 74.50 |  |  |
Vested | (795) |  |  | 93.72 |  |  |
Forfeited | (479) |  |  | 95.13 |  |  |
Nonvested as of December 31, 2022 | 2,351 |  |  | $ | 85.52 |  |  | $ | 80,497 |
Expected to vest as of December 31, 2022 | 1,716 |  |  | $ | 85.17 |  |  | $ | 58,772 |

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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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