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Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] |
Summary of Activity for RSUs | The following tables present the activity for RSUs under the 2014 Plan:
|  | Year Ended December 31, 2021 |
|  | RSUs |  |  | Weighted Average Grant Date Fair Value |
RSUs — beginning of period |  |  | 0.6 |  |  | $ | 93.26 |
Granted |  |  | 0.2 |  |  | $ | 177.71 |
Vested |  |  | (0.3 | ) |  | $ | 95.95 |
RSUs — end of period |  |  | 0.5 |  |  | $ | 127.93 |
|  | Year Ended December 31, 2020 |
|  | RSUs |  |  | Weighted Average Grant Date Fair Value |
RSUs — beginning of period |  |  | 1.1 |  |  | $ | 85.93 |
Granted |  |  | 0.3 |  |  | $ | 98.72 |
Vested |  |  | (0.8 | ) |  | $ | 85.32 |
RSUs — end of period |  |  | 0.6 |  |  | $ | 93.26 |
Effect of Recording Stock-Based Compensation | The following table reflects the effect of recording stock-based compensation:
|  | Years Ended December 31, |
|  | 2021 |  |  | 2020 |  |  | 2019 |
Stock-based compensation expense by type of award: |  |  |  |  |  |  |  |  |  |  |  |
RSUs |  | $ | 33.8 |  |  | $ | 27.0 |  |  | $ | 47.1 |
Employee stock purchase plan |  |  | 2.9 |  |  |  | 2.5 |  |  |  | 2.1 |
Total stock-based compensation |  |  | 36.7 |  |  |  | 29.5 |  |  |  | 49.2 |
Windfall tax effect on stock-based compensation |  |  | (4.6 | ) |  |  | (2.4 | ) |  |  | (2.2 | )
Net effect on net income |  | $ | 32.1 |  |  | $ | 27.1 |  |  | $ | 47.0 |
Effect on net earnings per share: |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.58 |  |  | $ | 0.49 |  |  | $ | 0.86 |
Diluted |  | $ | 0.58 |  |  | $ | 0.49 |  |  | $ | 0.85 |
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 was as follows:
|  | Years Ended December 31, |
|  | 2021 |  |  | 2020 |  |  | 2019 |
Cost of revenues |  | $ | 3.8 |  |  | $ | 4.2 |  |  | $ | 2.8 |
Research and development expense |  |  | 4.5 |  |  |  | 4.0 |  |  |  | 3.8 |
Selling, general and administrative expense |  |  | 28.4 |  |  |  | 20.4 |  |  |  | 20.5 |
Acquisition and integration related expense |  |  | — |  |  |  | 0.9 |  |  |  | 21.7 |
Restructuring related expense |  |  | — |  |  |  | — |  |  |  | 0.4 |
Total pre-tax stock-based compensation expense |  | $ | 36.7 |  |  | $ | 29.5 |  |  | $ | 49.2 |
Fair Value of Employee Purchase Rights Estimated using Black-Scholes Option-Pricing Model | The fair value of employee stock purchase plan rights was estimated using the Black-Scholes option-pricing model with the following weighted average assumptions:
|  | Years Ended December 31, |
Employee stock purchase plan rights: |  | 2021 |  |  | 2020 |  |  | 2019 |
Expected life (years) |  |  | 0.5 |  |  |  | 0.5 |  |  |  | 0.5 |
Risk-free interest rate |  |  | 0.1 | % |  |  | 0.9 | % |  |  | 2.4 | %
Expected volatility |  |  | 39.3 | % |  |  | 45.4 | % |  |  | 38.7 | %
Expected annual dividends per share |  | $ | 0.88 |  |  | $ | 0.80 |  |  | $ | 0.80 |

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