Note 11—Stock-based Compensation Stock options, SARs, PSUs and RSUs The amount of stock-based compensation expense recognized in our Condensed Consolidated Statements of Comprehensive Income for the three and six months ended June 30, 2025 and 2024 was as follows (in millions):
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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Condensed Consolidated Statements of Comprehensive Income Classification |
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2025 |
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2024 |
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2025 |
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2024 |
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Cost of software-enabled services |
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$ |
21.2 |
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$ |
17.7 |
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$ |
38.6 |
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$ |
33.1 |
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Cost of license, maintenance and other related |
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2.3 |
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2.2 |
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4.5 |
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3.8 |
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Total cost of revenues |
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23.5 |
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19.9 |
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43.1 |
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36.9 |
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Selling and marketing |
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10.1 |
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9.3 |
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19.2 |
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17.0 |
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Research and development |
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8.5 |
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7.8 |
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16.1 |
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14.0 |
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General and administrative |
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18.1 |
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13.6 |
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34.5 |
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27.8 |
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Total operating expenses |
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36.7 |
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30.7 |
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69.8 |
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58.8 |
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Total stock-based compensation expense |
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$ |
60.2 |
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$ |
50.6 |
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$ |
112.9 |
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$ |
95.7 |
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The following table summarizes stock option and stock appreciation rights (“SARs”) activity, as well as performance stock units (“PSUs”) and restricted stock units (“RSUs”) activity, for the six months ended June 30, 2025 (shares in millions):
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Stock Options and SARs |
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PSUs and RSUs |
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Outstanding at December 31, 2024 |
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31.3 |
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4.8 |
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Granted |
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1.8 |
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2.6 |
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Cancelled/forfeited |
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(0.9 |
) |
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(0.2 |
) |
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Exercised |
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(4.4 |
) |
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— |
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Vested |
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— |
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(1.5 |
) |
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Outstanding at June 30, 2025 |
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27.8 |
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5.7 |
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