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Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2019
Summary of Activity for RSUs | The following table presents the activity for RSUs under the Plans:
|  | Year Ended December 31, 2019 |
|  | RSUs |  |  | Weighted Average Grant Date Fair Value |
RSUs — beginning of period |  |  | 647,394 |  |  | $ | 74.04 |
Assumed from ESI Merger |  |  | 736,133 |  |  | $ | 84.10 |
Accrued dividend shares |  |  | 5,222 |  |  | $ | 85.67 |
Granted |  |  | 434,970 |  |  | $ | 87.11 |
Vested |  |  | (577,688 | ) |  | $ | 70.27 |
Forfeited or expired |  |  | (143,498 | ) |  | $ | 89.55 |
RSUs — end of period |  |  | 1,102,533 |  |  | $ | 85.93 |
Summary of Activity for Outstanding and Exercisable Stock Appreciation Rights | At December 31, 2019, the Company’s outstanding and exercisable SARs, the weighted-average base value, the weighted average remaining contractual life and the aggregate intrinsic value thereof, were as follows:
|  | Number of Shares |  |  | Weighted Average Base Value |  |  | Weighted Average Remaining Contractual Life (years) |  |  | Aggregate Intrinsic Value |
SARs outstanding and exercisable |  |  | 108,854 |  |  | $ | 29.05 |  |  |  | 1.6 |  |  | $ | 8,813 |
Effect of Recording Stock-Based Compensation | The following table reflects the effect of recording stock-based compensation for the years 2019, 2018 and 2017:
|  | Years Ended December 31, |
|  | 2019 |  |  | 2018 |  |  | 2017 |
Stock-based compensation expense by type of award: |  |  |  |  |  |  |  |  |  |  |  |
RSUs |  | $ | 47,005 |  |  | $ | 24,883 |  |  | $ | 22,428 |
SARs |  |  | 73 |  |  |  | 98 |  |  |  | 529 |
Employee stock purchase plan |  |  | 2,116 |  |  |  | 2,281 |  |  |  | 1,421 |
Total stock-based compensation |  | $ | 49,194 |  |  |  | 27,262 |  |  |  | 24,378 |
Windfall tax effect on stock-based compensation |  |  | (2,244 | ) |  |  | (8,277 | ) |  |  | (11,071 | )
Net effect on net income |  | $ | 46,950 |  |  | $ | 18,985 |  |  | $ | 13,307 |
Effect on net earnings per share: |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.86 |  |  | $ | 0.35 |  |  | $ | 0.25 |
Diluted |  | $ | 0.85 |  |  | $ | 0.35 |  |  | $ | 0.24 |
Pre-Tax Effect Within Consolidated Statements of Operations of Recording Stock-Based Compensation | The pre-tax effect within the consolidated statements of operations and comprehensive income of recording stock-based compensation for the years 2019, 2018 and 2017 was as follows:
|  | Years Ended December 31, |
|  | 2019 |  |  | 2018 |  |  | 2017 |
Cost of revenues |  | $ | 2,789 |  |  | $ | 3,516 |  |  | $ | 3,894 |
Research and development expense |  |  | 3,847 |  |  |  | 2,750 |  |  |  | 2,816 |
Selling, general and administrative expense |  |  | 20,457 |  |  |  | 20,996 |  |  |  | 17,668 |
Acquisition and integration related expense |  |  | 21,728 |  |  |  | — |  |  |  | — |
Restructuring related expense |  |  | 373 |  |  |  | — |  |  |  | — |
Total pre-tax stock-based compensation expense |  | $ | 49,194 |  |  | $ | 27,262 |  |  | $ | 24,378 |
Fair Value of Employees' Purchase Rights Estimated using Black-Scholes Option-Pricing Model | The fair value of the employees’ purchase plan rights was estimated using the Black-Scholes option-pricing model with the following weighted average assumptions:
|  | Years Ended December 31, |
|  | 2019 |  |  | 2018 |  |  | 2017 |
Employee stock purchase plan rights: |  |  |  |  |  |  |  |  |  |  |  |
Expected life (years) |  |  | 0.5 |  |  |  | 0.5 |  |  |  | 0.5 |
Risk-free interest rate |  |  | 2.4 | % |  |  | 1.8 | % |  |  | 0.8 | %
Expected volatility |  |  | 38.7 | % |  |  | 38.6 | % |  |  | 26.5 | %
Expected annual dividends per share |  | $ | 0.80 |  |  | $ | 0.76 |  |  | $ | 0.69 |
Stock Appreciation Rights (SARs) [Member] |
Summary of Activity for Outstanding and Exercisable Stock Appreciation Rights | The following table presents the activity for SARs under the Plans:
|  | Year Ended December 31, 2019 |
|  | Outstanding and Exercisable SARs |  |  | Weighted Average Base Value |
SARs — beginning of period |  |  | 177,538 |  |  | $ | 28.52 |
Assumed from ESI Merger |  |  | 12,787 |  |  | $ | 17.38 |
Exercised |  |  | (77,473 | ) |  | $ | 26.29 |
Forfeited or expired |  |  | (3,998 | ) |  | $ | 23.00 |
SARs Outstanding — end of period |  |  | 108,854 |  |  | $ | 29.05 |

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