Annual report pursuant to Section 13 and 15(d)

Employee Stock Plans (Tables)

v3.19.3.a.u2
Employee Stock Plans (Tables)
12 Months Ended
Dec. 31, 2019
Share-based Payment Arrangement [Abstract]  
Stock Option Activity
A summary of stock option activity is as follows:
 
Options (in thousands)
 
Weighted Average Exercise Price
 
Weighted Average Remaining Contractual Term
 
Aggregate Intrinsic Value (in thousands)
Outstanding at December 31, 2016
3,292

 
$
49.95

 
7.9 years
 
$
213,066

Granted
1,167

 
$
133.19

 
 
 
 
Forfeited or expired
(102
)
 
$
94.68

 
 
 
 
Exercised
(1,612
)
 
$
39.15

 
 
 
 
Outstanding at December 31, 2017
2,745

 
$
89.99

 
8.2 years
 
$
269,018

Granted
851

 
$
221.58

 
 
 
 
Forfeited or expired
(171
)
 
$
139.99

 
 
 
 
Exercised
(784
)
 
$
60.45

 
 
 
 
Outstanding at December 31, 2018
2,641

 
$
137.88

 
8.1 years
 
$
104,348

Granted
2,043

 
$
42.77

 
 
 
 
Forfeited or expired
(350
)
 
$
152.17

 
 
 
 
Exercised
(53
)
 
$
57.41

 
 
 
 
Outstanding at December 31, 2019
4,281

 
$
92.31

 
8.1 years
 
$
100,494

Exercisable at December 31, 2019
1,667

 
$
114.54

 
6.7 years
 
$
18,506


Weighted-Average Fair Value of Stock Options Grants
The weighted average fair value of stock options granted for 2019, 2018 and 2017 using the Black-Scholes valuation method are as follows:
 
2019
 
2018
 
2017
Weighted average fair value of stock options with an exercise price equal to the market price on the grant date
$
23.64

 
$
84.55

 
$
47.17

Weighted average fair value of stock options with an exercise price greater than the market price on the grant date

 

 

   Total
$
23.64

 
$
84.55

 
$
47.17


Weighted Average Exercise Prices for Stock Options Exercised
Weighted average exercise prices for stock options exercised in 2019 are as follows:
 
2019
Weighted average exercise price of stock options with an exercise price equal to the market price on the grant date
$
57.41

Weighted average exercise price of stock options with an exercise price greater than the market price on the grant date

   Total weighted average exercise price
$
57.41


Non-Vested Stock Options
The following table summarizes the status of our non-vested stock options as of December 31, 2019:
 
Non-vested
Number of Stock Options (in thousands)
 
Weighted Average Grant Date Fair Value per Option
Non-vested at December 31, 2018
1,578

 
$
63.13

Granted
2,043

 
$
23.64

Vested
(657
)
 
$
54.87

Forfeited / Cancelled
(350
)
 
$
62.40

Non-vested at December 31, 2019
2,614

 
$
34.40