0001097149-23-000013 | 10-K | XBRL Viewer

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Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Unconditional Purchase Obligations On October 30, 2020, we entered into a subscription agreement with a software company to renew our license for a total consideration of $95.2 million. As of December 31, 2022, we had a remaining commitment of $23.8 million which is expected to be paid through 2024. On December 6, 2020, we entered into a supply agreement for certain components used for our manufacturing operations. As of December 31, 2022, we had purchase commitments of $85.8 million which is expected to be paid through 2025. On June 24, 2021, we entered into an amended purchase agreement with an existing single source supplier which requires us to purchase aligner material for a minimum amount of approximately $348.0 million from 2023 through 2026. On March 11, 2022, we entered into an amended promotional rights agreement with a third-party which includes advertising and media coverage. As of December 31, 2022, we had a remaining commitment of $60.0 million which is expected to be paid through 2026. On December 9, 2022, we entered into a cloud services agreement to support our production operations and research and development efforts for clinical applications which requires us to make minimum purchases totaling $145.0 million from 2023 through 2027. Off-Balance Sheet Arrangements As of December 31, 2022, we had no material off-balance sheet arrangements that have, or are reasonably likely to have, a current or future material effect on our consolidated financial condition, results of operations, liquidity, capital expenditures or capital resources other than certain items disclosed in the Unconditional Purchase Obligations section above. Indemnification Provisions In the normal course of business to facilitate transactions in our services and products, we indemnify certain parties: customers, vendors, lessors, and other parties with respect to certain matters, including, but not limited to, services to be provided by us and intellectual property infringement claims made by third parties. In addition, we have entered into indemnification agreements with our directors and our executive officers that will require us, among other things, to indemnify them against certain liabilities that may arise by reason of their status or service as directors or officers. Several of these agreements limit the time within which an indemnification claim can be made and the amount of the claim. It is not possible to make a reasonable estimate of the maximum potential amount under these indemnification agreements due to the unique facts and circumstances involved in each particular agreement. Additionally, we have a limited history of prior indemnification claims and the payments we have made under such agreements have not had a material adverse effect on our results of operations, cash flows or financial position. However, to the extent that valid indemnification claims arise in the future, future payments by us could be significant and could have a material adverse effect on our results of operations or cash flows in a particular period. As of December 31, 2022, we did not have any material indemnification claims that were probable or reasonably possible.

Schedule II: Valuation and Qualifying Accounts and Reserves

12 Months Ended

Dec. 31, 2022

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

Schedule II: Valuation and Qualifying Accounts and Reserves

SCHEDULE II: VALUATION AND QUALIFYING ACCOUNTS AND RESERVES


	Balance at Beginning of Period		Additions (Reductions) to Costs and Expenses		Write Offs		Balance at End of Period
	(in thousands)
Allowance for doubtful accounts:
Year Ended December 31, 2020	$	6,756	$	12,073	$	(8,590)	$	10,239
Year Ended December 31, 2021	$	10,239	$	2,814	$	(3,808)	$	9,245
Year Ended December 31, 2022	$	9,245	$	4,102	$	(3,004)	$	10,343
Valuation allowance for deferred tax assets:
Year Ended December 31, 2020	$	1,086	$	239	$	—	$	1,325
Year Ended December 31, 2021	$	1,325	$	11,613	$	—	$	12,938
Year Ended December 31, 2022	$	12,938	$	10,348	$	—	$	23,286

Legal Proceedings	12 Months Ended
Legal Proceedings	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Legal Proceedings	Legal Proceedings 2019 Shareholder Derivative Lawsuit In January 2019, three derivative lawsuits were filed in the U.S. District Court for the Northern District of California which were later consolidated, purportedly on our behalf, naming as defendants the then current members of our Board of Directors along with certain of our executive officers. The complaints assert various state law causes of action, including for breaches of fiduciary duty, insider trading, and unjust enrichment. The complaints seek unspecified monetary damages on our behalf, which is named solely as a nominal defendant against whom no recovery is sought, as well as disgorgement and the costs and expenses associated with the litigation, including attorneys’ fees. The consolidated action is currently stayed. Defendants have not yet responded to the complaints. On April 12, 2019, a derivative lawsuit was also filed in California Superior Court for Santa Clara County, purportedly on our behalf, naming as defendants the members of our Board of Directors along with certain of our executive officers. The allegations in the complaint are similar to those in the derivative suits described above. The matter is currently stayed. Defendants have not yet responded to the complaint. We believe these claims are without merit. We are currently unable to predict the outcome of these lawsuits and therefore cannot determine the likelihood of loss nor estimate a range of possible loss. 2020 Securities Class Action Lawsuit On March 2, 2020, a class action lawsuit against us and two of our executive officers was filed in the U.S. District Court for the Southern District of New York (later transferred to the U.S. District Court for the Northern District of California) on behalf of a purported class of purchasers of our common stock. The complaint alleged claims under the federal securities laws and sought monetary damages in an unspecified amount and costs and expenses incurred in the litigation. The lead plaintiff filed an amended complaint on August 4, 2020 against us and three of our executive officers alleging similar claims as in the initial complaint on behalf of a purported class of purchasers of our common stock from April 25, 2019 to July 24, 2019. On March 29, 2021, defendants’ motion to dismiss the amended complaint was granted with leave for the lead plaintiff to file a further amended complaint. On April 22, 2021, lead plaintiff filed a notice stating it would not file a further amended complaint. On April 23, 2021, the Court dismissed the action with prejudice and judgment was entered. Lead plaintiff filed a notice of appeal on April 28, 2021 and filed its opening appeal brief with the United States Court of Appeals for the Ninth Circuit on September 1, 2021. The defendants-appellees filed their answering brief on November 22, 2021. The lead plaintiff-appellant’s reply brief was filed on January 12, 2022. Oral argument was held on March 10, 2022. On July 8, 2022, a panel of the Ninth Circuit affirmed the district court order dismissing the complaint. On July 21, 2022, plaintiff-appellant filed a petition for rehearing or hearing en banc, which the court denied on August 15, 2022. On November 14, 2022, the deadline for plaintiff-appellant to file a petition for writ of certiorari to the United States Supreme Court passed without plaintiff-appellant filing a petition, finally resolving this matter in our favor. Antitrust Class Actions On June 5, 2020, a dental practice named Simon and Simon, PC doing business as City Smiles brought an antitrust action in the U.S. District Court for the Northern District of California on behalf of itself and a putative class of similarly situated practices seeking monetary damages and injunctive relief relating to our alleged market activities in alleged clear aligner and intraoral scanner markets. Plaintiff filed an amended complaint and added VIP Dental Spas as a plaintiff on August 14, 2020. A jury trial is scheduled to begin in this matter on June 29, 2024. We believe the plaintiffs’ claims are without merit and we intend to vigorously defend ourselves. On May 3, 2021, an individual named Misty Snow brought an antitrust action in the U.S. District Court for the Northern District of California on behalf of herself and a putative class of similarly situated individuals seeking monetary damages and injunctive relief relating to our alleged market activities in alleged clear aligner and intraoral scanner markets. Plaintiff filed an amended complaint on July 30, 2021 adding new plaintiffs and various state law claims. Plaintiffs filed a second amended complaint on October 21, 2021. On March 2, 2022, Plaintiffs filed a third amended complaint. On October 3, 2022, Plaintiffs filed a fourth amended complaint. A jury trial is scheduled to begin in this matter on June 29, 2024 for issues related to Section 2 allegations. A jury trial is scheduled to begin in this matter on September 30, 2024 for issues related to Section 1 allegations. We believe the plaintiffs’ claims are without merit and we intend to vigorously defend ourselves. We are currently unable to predict the outcome of these lawsuits and therefore we cannot determine the likelihood of loss, if any, nor estimate a range of possible loss. SDC Dispute On August 27, 2020, we initiated a confidential arbitration proceeding against SmileDirectClub LLC (“SDC”) before the American Arbitration Association in San Jose, California. This arbitration relates to the Strategic Supply Agreement (“Supply Agreement”) entered into between the parties in 2016. The complaint alleges that SDC breached the Supply Agreement’s terms, causing damages to us in an amount to be determined. On January 19, 2021, SDC filed a counterclaim alleging that we breached the Supply Agreement. On May 3, 2022, SDC filed an additional counterclaim alleging that we breached the Supply Agreement. We deny SDC's allegations in the counterclaims and we intend to vigorously defend ourselves against them. The arbitration hearing on our claims and SDC’s first counterclaim was held on July 18-27, 2022 in Chicago, Illinois. On October 27, 2022, the arbitrator issued an interim award on our claims and SDC’s first counterclaim finding that SDC breached the Supply Agreement, we did not breach the Supply Agreement, and SDC caused harm to us. Based on these findings, the arbitrator awarded us an interim award that, when confirmed, may be material to our results in the quarter reported. On December 2, 2022, SDC filed a motion to re-open the arbitrator’s interim award in Align’s favor. We anticipate recognizing the amount ultimately realizable following confirmation of the final award. The arbitration hearing on SDC’s second counterclaim was held on February 21-23, 2023 in Chicago, Illinois. We are currently unable to predict the outcome of SDC’s second counterclaim and therefore cannot determine the likelihood of loss or success nor estimate a range of possible loss or success, if any. In addition to the above, in the ordinary course of our operations, we are involved in a variety of claims, suits, investigations, and proceedings, including actions with respect to intellectual property claims, patent infringement claims, government investigations, labor and employment claims, breach of contract claims, tax, and other matters. Regardless of the outcome, these proceedings can have an adverse impact on us because of defense costs, diversion of management resources, and other factors. Although the results of complex legal proceedings are difficult to predict and our view of these matters may change in the future as litigation and events related thereto unfold; we currently do not believe that these matters, individually or in the aggregate, will materially affect our financial position, results of operations or cash flows.

Balance Sheet Components

12 Months Ended

Dec. 31, 2022

Balance Sheet Related Disclosures [Abstract]

Balance Sheet Components

Inventories consist of the following (in thousands):


	December 31,
	2022		2021
Raw materials	$	172,758	$	123,234
Work in progress	96,558		51,706
Finished goods	69,436		55,290
Total inventories	$	338,752	$	230,230

Prepaid expenses and other current assets consist of the following (in thousands):


	December 31,
	2022		2021
Value added tax receivables	$	140,484	$	93,610
Prepaid expenses	69,124		70,218
Other current assets	16,762		31,477
Total prepaid expenses and other current assets	$	226,370	$	195,305

Property, plant and equipment consist of the following (in thousands):


		December 31,
	Generally Used Estimated Useful Life	2022		2021
Clinical and manufacturing equipment	Up to 10 years	$	583,776	$	452,876
Building	20 years	466,003		310,344
Leasehold improvements	Lease term 1	64,238		61,289
Computer software and hardware	3 years	120,544		117,986
Land	—	58,885		58,869
Furniture, fixtures and other	2-5 years	102,933		71,977
Construction in progress	—	285,202		367,686
Total		1,681,581		1,441,027
Less: Accumulated depreciation and impairment charges		(449,726)		(359,101)
Total property, plant and equipment, net		$	1,231,855	$	1,081,926

1 Shorter of the remaining lease term or the estimated useful lives of the assets

Depreciation was $109.8 million, $92.1 million and $80.1 million for the year ended December 31, 2022, 2021 and 2020, respectively.

Accrued liabilities consist of the following (in thousands):


	December 31,
	2022		2021
Accrued payroll and benefits	$	149,508	$	288,355
Accrued income taxes	74,323		33,838
Accrued expenses	64,341		67,169
Accrued sales and marketing expenses	36,407		41,387
Current operating lease liabilities	26,574		22,719
Accrued property, plant and equipment	19,922		46,561

Other accrued liabilities	83,299		107,286
Total accrued liabilities	$	454,374	$	607,315

Accrued warranty as of December 31, 2022 and 2021, which is included in the “Other accrued liabilities” category of the accrued liabilities table above, consists of the following activity (in thousands):


Accrued warranty as of December 31, 2020	$	12,615
Charged to cost of net revenues	18,213

Actual warranty expenditures	(14,659)
Accrued warranty as of December 31, 2021	16,169
Charged to cost of net revenues	16,429
Actual warranty expenditures	(14,725)
Accrued warranty as of December 31, 2022	$	17,873

Deferred revenues consist of the following (in thousands):


	December 31,
	2022		2021
Deferred revenues - current	$	1,343,643	$	1,152,870
Deferred revenues - long-term 1	160,662		136,684

1 Included in Other long-term liabilities within our Consolidated Balance Sheet

During the year ended December 31, 2022 and 2021, we recognized $3,734.6 million and $3,952.6 million of net revenues, respectively, of which $635.3 million and $481.1 million was included in the deferred revenues balance at December 31, 2021 and December 31, 2020, respectively.

Stockholders' Equity - Additional Information (Detail) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2022 USD ($) purchase_period $ / shares shares	Dec. 31, 2021 USD ($) $ / shares	Dec. 31, 2020 USD ($) $ / shares	May 31, 2021 shares
Stockholders Equity Note [Line Items]
Stock-based compensation, income tax benefit \| $		$ 14,900	$ 13,800	$ 11,900
Stock-based compensation expense \| $		$ 133,367	114,336	98,427
Restricted Stock Units (RSUs)
Stockholders Equity Note [Line Items]
Vesting period		4 years
Restricted stock units, shares vested and released (shares)		199,832
Restricted stock units, shares withheld for tax payments		59,115
Restricted stock units, net issuance (in shares)		140,717
Vested in period, Fair value \| $		$ 93,700	$ 158,800	$ 89,600
Weighted average grant date fair value of awards granted (usd per share) \| $ / shares		$ 469.12	$ 600.10	$ 267.24
Total unamortized compensation cost \| $	$ 133,400	$ 133,400
Weighted average period of total unamortized cost		2 years 2 months 12 days
Awards granted (in shares)		248,000
Market Performance Based Restricted Stock Units
Stockholders Equity Note [Line Items]
Vesting period		3 years
Restricted stock units, shares vested and released (shares)		128,259
Restricted stock units, shares withheld for tax payments		49,524
Restricted stock units, net issuance (in shares)		78,735
Vested in period, Fair value \| $		$ 64,000	$ 135,600	$ 47,100
Weighted average grant date fair value of awards granted (usd per share) \| $ / shares		$ 607.96
Total unamortized compensation cost \| $	$ 40,100	$ 40,100
Weighted average period of total unamortized cost		1 year
Percentage of market-performance based restricted stock units eligible to vest over the vesting period		250.00%
Awards granted (in shares)		101,000
Restricted Stock Units with Performance Conditions (PSUs)
Stockholders Equity Note [Line Items]
Vesting period	2 years 2 months 12 days
Weighted average grant date fair value of awards granted (usd per share) \| $ / shares	$ 201.63
Awards granted (in shares)	4,728
Stock Incentive Plan 2005
Stockholders Equity Note [Line Items]
Share award ratio	1.9	1.9
Number of shares reserved for issuance (in shares)	27,783,379	27,783,379
Number of shares available for grant (shares)	3,760,672	3,760,672
Employee Stock Purchase Plan
Stockholders Equity Note [Line Items]
Number of shares available for grant (shares)	2,108,898	2,108,898
Total unamortized compensation cost \| $	$ 14,800	$ 14,800
Weighted average period of total unamortized cost		10 months 24 days
ESPP offering period		24 months
Number of offering periods \| purchase_period		4
Purchase period		6 months
Purchase price of shares, percent of fair market value		85.00%
Number of shares reserved for issuance (in shares)					4,400,000
Stock-based compensation expense \| $		$ 23,500	$ 12,200	$ 10,500

Restructuring and Other Charges - Restructuring Liabilities (Details) $ in Thousands	3 Months Ended
	Dec. 31, 2022 USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 10,176
Cash payments	(4,807)
Non-cash charges	(1,453)
Balance	3,916
Severance and related costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges	8,723
Cash payments	(4,807)
Non-cash charges	0
Balance	3,916
Impairment Charges
Restructuring Cost and Reserve [Line Items]
Restructuring charges	1,453
Cash payments	0
Non-cash charges	(1,453)
Balance	$ 0

Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

During the year ended December 31, 2022, we completed an immaterial business combination which increased goodwill and existing technology intangible assets.

Goodwill

The change in the carrying value of goodwill for the year ended December 31, 2022 and 2021, categorized by reportable segments, is as follows (in thousands):


	Clear Aligner		Systems and Services		Total
Balance as of December 31, 2020	$	112,691	$	332,126	$	444,817
Additions from acquisition	3,646		—		3,646
Foreign currency translation adjustments	(4,129)		(25,787)		(29,916)
Balance as of December 31, 2021	112,208		306,339		418,547
Additions from acquisition	—		8,729		8,729
Foreign currency translation adjustments	(2,728)		(16,997)		(19,725)
Balance as of December 31, 2022	$	109,480	$	298,071	$	407,551

We completed our annual goodwill impairment assessments in 2022 and 2021 and determined there were no impairments.

Intangible Long-Lived Assets

Acquired intangible long-lived assets were as follows, excluding intangibles that were fully amortized (in thousands):


	Weighted Average Amortization Period (in years)	Gross Carrying Amount as of December 31, 2022		Accumulated Amortization		Accumulated Impairment Loss		Net Carrying Value as of December 31, 2022
Existing technology	10	$	112,051	$	(33,537)	$	(4,328)	$	74,186
Customer relationships	10	21,500		(5,913)		—		15,587
Trademarks and tradenames	10	17,200		(6,442)		(4,122)		6,636
Patents	8	6,511		(5,288)		—		1,223
		$	157,262	$	(51,180)	$	(8,450)	97,632
Foreign currency translation adjustments								(1,912)
Total intangible assets, net 1								$	95,720

1 Also includes $33.5 million of fully amortized intangible assets related to customer relationships.


	Weighted Average Amortization Period (in years)	Gross Carrying Amount as of December 31, 2021		Accumulated Amortization		Accumulated Impairment Loss		Net Carrying Value as of December 31, 2021
Existing technology	10	$	104,531	$	(22,495)	$	(4,328)	$	77,708
Customer relationships	11	55,000		(25,891)		(10,751)		18,358
Trademarks and tradenames	10	17,200		(4,547)		(4,179)		8,474
Patents	8	6,511		(4,495)		—		2,016
		$	183,242	$	(57,428)	$	(19,258)	106,556
Foreign currency translation adjustments								3,153
Total intangible assets, net								$	109,709

There were no triggering events in 2022 or 2021 that would cause impairments of our intangible long-lived assets.

The total estimated annual future amortization expense for these acquired intangible assets as of December 31, 2022 is as follows (in thousands):


Fiscal Year	Amortization
2023	$	16,501
2024	15,335
2025	14,959
2026	14,353
2027	11,992
Thereafter	24,492
Total	$	97,632

Amortization expense was $16.0 million, $16.6 million and $13.4 million for the year ended December 31, 2022, 2021 and 2020, respectively.

Goodwill and Intangible Assets - Change in the Carrying Value of Goodwill (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Goodwill [Roll Forward]
Beginning Balance	$ 418,547	$ 444,817
Additions from acquisition	8,729	3,646
Foreign currency translation adjustments	(19,725)	(29,916)
Ending Balance	407,551	418,547
Clear Aligner
Goodwill [Roll Forward]
Beginning Balance	112,208	112,691
Additions from acquisition	0	3,646
Foreign currency translation adjustments	(2,728)	(4,129)
Ending Balance	109,480	112,208
Systems and Services
Goodwill [Roll Forward]
Beginning Balance	306,339	332,126
Additions from acquisition	8,729	0
Foreign currency translation adjustments	(16,997)	(25,787)
Ending Balance	$ 298,071	$ 306,339

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2022
Accounting Policies [Abstract]
Basis of Presentation and Preparation	Basis of Presentation and PreparationThe consolidated financial statements include the accounts of Align and our wholly-owned subsidiaries after elimination of intercompany transactions and balances.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles (“GAAP”) in the United States of America (“U.S.”) requires our management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ materially from those estimates. On an ongoing basis, we evaluate our estimates, including those related to revenue recognition, useful lives of intangible assets and property and equipment, long-lived assets and goodwill, income taxes, contingent liabilities, the fair values of financial instruments, stock-based compensation and the valuation of investments in privately held companies among others. We base our estimates on historical experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities.
Fair Value of Financial instruments	Fair Value of Financial Instruments Fair value is an exit price, representing the amount that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. We use the GAAP fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. This hierarchy requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The three levels of inputs that may be used to measure fair value: Level 1 - Quoted (unadjusted) prices in active markets for identical assets or liabilities. Level 2 - Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the asset or liability. We obtain fair values for our Level 2 investments. Our custody bank and asset managers independently use professional pricing services to gather pricing data which may include quoted market prices for identical or comparable financial instruments, or inputs other than quoted prices that are observable either directly or indirectly, and we are ultimately responsible for these underlying estimates. Level 3 - Unobservable inputs to the valuation methodology that are supported by little or no market activity and that are significant to the measurement of the fair value of the assets or liabilities. Level 3 assets and liabilities include those whose fair value measurements are determined using pricing models, discounted cash flow methodologies or similar valuation techniques, as well as significant management judgment or estimation.
Cash and Cash Equivalents	Cash and Cash EquivalentsWe consider currency on hand, demand deposits, time deposits, and all highly liquid investments with an original maturity of three months or less at the date of purchase to be cash and cash equivalents. Cash and cash equivalents are held in various financial institutions in the U.S. and internationally.
Restricted Cash	Restricted Cash The restricted cash primarily consists of funds reserved for legal requirements. Restricted cash balances are primarily included in other assets within our Consolidated Balance Sheets.
Marketable Securities	Marketable Securities Our marketable securities consist of marketable debt securities which are classified as available-for-sale and are carried at fair value. Our fixed-income securities investment portfolio allows for investments with a maximum effective maturity of up to 40 months on any individual security. Marketable securities classified as current assets have maturities within one year from the balance sheet date. Unrealized gains or losses on such securities are included in accumulated other comprehensive income (loss), net (“AOCI”) in stockholders’ equity. Realized gains and losses from sales and maturities of all such securities are reported in earnings and computed using the specific identification cost method. All of our marketable securities are subject to a periodic impairment review. We evaluate if an allowance for credit loss is necessary by considering available information relevant to the collectibility of the security and information about credit rating changes, past events, current conditions, and reasonable and supportable forecasts. Any allowance for credit loss is recorded as a charge to other income (expense), net, in our Consolidated Statement of Operations. If we have an intent to sell, or if it is more likely than not that we will be required to sell the security in an unrealized loss position before recovery of its amortized cost basis, we will write down the security to its fair value and record the corresponding charge as a component of other income (expense), net in our Consolidated Statement of Operations.
Variable Interest Entities	Variable Interest EntitiesWe evaluate whether an entity in which we have made an investment is considered a variable interest entity (“VIE”). If we determine we are the primary beneficiary of a VIE, we would consolidate the VIE into our financial statements. In determining if we are the primary beneficiary, we evaluate whether we have the power to direct the activities that most significantly impact the VIE’s economic performance and the obligation to absorb losses or the right to receive benefits of the VIE that could potentially be significant to the VIE. Our evaluation includes identification of significant activities and an assessment of our ability to direct those activities based on governance provisions and arrangements to provide or receive product and process technology, product supply, operations services, equity funding, financing, and other applicable agreements and circumstances. Our assessments of whether we are the primary beneficiary of a VIE require significant assumptions and judgments. We have concluded that we are not the primary beneficiary of our VIE investments; therefore, we do not consolidate their results into our consolidated financial statements.
Investments in Privately Held Companies	Investments in Privately Held Companies Our investments in privately held companies in which we cannot exercise significant influence and do not own a majority equity interest or otherwise control are accounted for under the measurement alternative. Under the measurement alternative, the carrying value of our equity investment is adjusted to fair value for observable transactions for identical or similar investments of the same issuer. Investments in equity securities are reported on our Consolidated Balance Sheet as other assets, and we periodically evaluate them for impairment. We record any change in carrying value of our equity securities, in other income (expense), net in our Consolidated Statement of Operations. The carrying value of our equity investments in privately held companies without readily determinable fair values were not material as of December 31, 2022 or 2021 and the associated adjustments to the carrying values of the investments were not material during the year ended December 31, 2022, 2021 and 2020.
Derivative Financial Instruments	Derivative Financial InstrumentsWe enter into foreign currency forward contracts to minimize the short-term impact of foreign currency exchange rate fluctuations associated with certain assets and liabilities. These forward contracts are not designated as hedging instruments. The gains and losses on these forward contracts are intended to offset the gains and losses in the underlying foreign currency denominated monetary assets and liabilities being economically hedged. We do not enter into foreign currency forward contracts for trading or speculative purposes. The net gain or loss from the settlement of these foreign currency forward contracts is recorded in other income (expense), net in the Consolidated Statement of Operations.
Foreign Currency	Foreign CurrencyFor our international subsidiaries, we analyze on an annual basis or more often if necessary, if a significant change in facts and circumstances indicate that the functional currency has changed. For international subsidiaries where the local currency is the functional currency, adjustments from translating financial statements from the local currency to the U.S. dollar reporting currency are recorded as a separate component of AOCI in the stockholders’ equity section of the Consolidated Balance Sheet. This foreign currency translation adjustment reflects the translation of the balance sheet at period end exchange rates, and the income statement at the transaction date or average exchange rate in effect during the period. The foreign currency revaluation that are derived from monetary assets and liabilities stated in a currency other than functional currency are included in other income (expense), net.
Certain Risks and Uncertainties	Certain Risks and Uncertainties We are subject to risks including, but not limited to, global and regional economic market conditions, inflation, fluctuations in foreign currency exchange rates, changes in consumer confidence and demand, increased competition, dependence on key personnel, protection and litigation of proprietary technology, shifts in taxable income between tax jurisdictions and compliance with regulations of the U.S. Food and Drug Administration (“FDA”) and similar international agencies. Further, our operations globally have been impacted by the COVID-19 pandemic. Although its impact has been gradually declining, we continue to be exposed to risks and uncertainties posed by it which varies by geographic regions at different levels. The extent to which our business could be impacted in the future by the pandemic is highly uncertain and difficult to predict. Our cash and investments are held primarily by five financial institutions. Financial instruments which potentially expose us to concentrations of credit risk consist primarily of cash equivalents and marketable securities. We invest excess cash primarily in money market funds, corporate bonds, asset-backed securities, municipal bonds and U.S. government agency bonds and treasury bonds and periodically evaluate them for credit losses. Such credit losses have not been material to our financial statements. We purchase certain inventory from sole suppliers. Additionally, we rely on a limited number of hardware manufacturers. The inability of any supplier or manufacturer to fulfill our supply requirements could materially and adversely impact our future operating results.
Accounts Receivable, net	Accounts Receivable, net Trade accounts receivable are recorded at the invoiced amount. Accounts receivable, net includes allowances for doubtful accounts for any potentially uncollectible amounts. We periodically assess the adequacy of the allowance for doubtful accounts by reviewing the accounts receivable on a collective basis by considering factors such as aging of the receivables and customers’ expected ability to pay, and on an individual basis for specific customers with known disputes or collectability issues. In determining the amount of the allowance for doubtful accounts, we also evaluate the creditworthiness of customers, current market conditions and forecasts of future economic conditions to make any adjustments. Actual write-offs have not materially differed from the estimated allowances. No individual customer accounted for 10% or more of our accounts receivable at December 31, 2022 or 2021 or net revenues for the year ended December 31, 2022, 2021 or 2020. In 2022, we entered into factoring transactions on a non-recourse basis with financial institutions to sell certain of our non-U.S. accounts receivable. We account for these transactions as sales of accounts receivables and include the cash proceeds as a part of our cash flows from operations in the Consolidated Statements of Cash Flows. Total accounts receivable sold under the factoring arrangements was $37.0 million during the year ended December 31, 2022. Factoring fees on the sales of receivables were recorded in other income (expense), net in our Consolidated Statement of Operations and were not material.
Inventories	Inventories Inventories are valued at the lower of cost or net realizable value, with cost computed using standard cost which approximates actual cost on a first-in-first-out basis. Excess and obsolete inventories are determined primarily based on future demand forecasts, and write-downs of excess and obsolete inventories are recorded as a component of cost of net revenues.
Property, Plant and Equipment	Property, Plant and Equipment, net Property, plant and equipment, net are stated at historical cost less accumulated depreciation and amortization. Depreciation and amortization are computed using the straight-line method over the estimated useful lives of the assets. Construction in progress is related to the construction or development of property (including land) and equipment that have not yet been placed in service for their intended use. Upon sale or retirement, the asset’s cost and related accumulated depreciation are removed from the balance sheet and any related gains or losses are reflected in income from operations. Maintenance and repairs are expensed as incurred. Refer to Note 3 “Balance Sheet Components" of the Notes of Consolidated Financial Statements for details on estimated useful lives.
Leases - Lessee	Leases - Lessee We determine if an arrangement is a lease at inception. Leases with a term of 12 months or less are not recorded on the balance sheet. Right-of-use (“ROU”) assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. We use our incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments as the rate implicit in our leases is not readily determinable. We determine lease terms as the noncancellable period of the lease and may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. We have lease agreements with lease and non-lease components which are accounted for as a single lease component. Payments under our lease arrangements are primarily fixed; however, certain lease agreements contain variable payments which are expensed as incurred and not included in the operating lease ROU assets and liabilities.
Business Combinations Policy	Business Combinations We allocate the fair value of the purchase consideration to the assets acquired and liabilities assumed based on their estimated fair values at the acquisition date. When determining the fair value of assets acquired and liabilities assumed, management is required to make certain estimates and assumptions, especially with respect to intangible assets. The estimates and assumptions used in valuing intangible assets include, but are not limited to, the amount and timing of projected future cash flows including forecasted revenues, the discount rate used to determine the present value of these cash flows, and the determination of the assets’ life cycle. Amounts recorded in a business combination may change during the measurement period, which is a period not to exceed one year from the date of acquisition, as additional information about conditions existing at the acquisition date becomes available.
Goodwill and Finite-Lived Acquired Intangible Assets	Goodwill and Finite-Lived Acquired Intangible Assets Goodwill represents the excess of the purchase price paid over the fair value of tangible and identifiable intangible net assets acquired in business combinations and is allocated to the respective reporting units based on relative synergies generated. Our intangible assets primarily consist of intangible assets acquired as part of our acquisitions. These assets are amortized using the straight-line method over their estimated useful lives ranging from two to fifteen years reflecting the period in which the economic benefits of the assets are expected to be realized.
Impairment of Goodwill and Long-Lived Assets	Impairment of Goodwill and Long-Lived Assets Goodwill We evaluate goodwill for impairment at least annually on November 30th or more frequently if indicators are present, an event occurs or changes in circumstances suggest an impairment may exist and that it would more likely than not reduce the fair value of a reporting unit below its carrying amount. The allocation of goodwill to the respective reporting unit is based on relative synergies generated as a result of an acquisition. We perform an initial assessment of qualitative factors to determine whether the existence of events and circumstances leads to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. In performing the qualitative assessment, we identify and consider the significance of relevant key factors, events, and circumstances that affect the fair value of our reporting units. These factors include external factors such as macroeconomic, industry, and market conditions, as well as entity-specific factors, such as our actual and planned financial performance. We also give consideration to the difference between the reporting unit fair value and carrying value as of the most recent date a fair value measurement was performed. If, after assessing the totality of relevant events and circumstances, we determine that it is more likely than not that the fair value of the reporting unit exceeds its carrying value and there is no indication of impairment, no further testing is performed; however, if we conclude otherwise, then we will perform the quantitative impairment test which compares the estimated fair value of the reporting unit to its carrying value, including goodwill. If the carrying amount of the reporting unit is in excess of its fair value, an impairment loss would be recorded in the Consolidated Statement of Operations. Long-Lived Assets We evaluate long-lived assets (including finite-lived intangible assets) for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable. An asset or asset group is considered impaired if its carrying amount exceeds the future undiscounted net cash flows that the asset or asset group is expected to generate. Factors we consider important which could trigger an impairment review include significant negative industry or economic trends, significant loss of customers and changes in the competitive environment. If an asset or asset group is considered to be impaired, the impairment to be recognized is calculated as the amount by which the carrying amount of the asset or asset group exceeds its fair market value. Our estimates of future cash flows attributable to our long-lived assets require significant judgment based on our historical and anticipated results and are subject to many assumptions. The estimation of fair value utilizing a discounted cash flow approach includes numerous uncertainties which require our significant judgment when making assumptions of expected growth rates and the selection of discount rates, as well as assumptions regarding general economic and business conditions, and the structure that would yield the highest economic value, among other factors. Refer to Note 5 “Goodwill and Intangible Assets” of Notes to Consolidated Financial Statements for details on intangible long-lived assets.
Development Costs for Internal Use Software and Software to be Marketed	Development Costs for Internal Use Software Internally developed software includes enterprise-level business software that we customize to meet our specific operational needs. Such capitalized costs include external direct costs utilized in developing or obtaining the applications and payroll and payroll-related costs for employees, who are directly associated with the development of the applications. There were no significant internally developed software costs capitalized in 2022 or 2021. Development Costs for Software to be Marketed The costs to develop software that is marketed externally have not been capitalized as we believe our current software development process is essentially completed concurrent with the establishment of technological feasibility. As such, all related software development costs are expensed as incurred and included in research and development expense in our Consolidated Statement of Operations.
Product Warranty	Product Warranty We offer assurance warranties on our products which provide the customer assurance that the product will function as the parties intended because it complies with agreed-upon specifications; therefore, warranties are not treated as a separate revenue performance obligation and are accounted for as guarantees under GAAP. Clear Aligner We warrant our Invisalign products against material defects until the treatment plan is complete except in the case of retainers, which are warranted up to three months from expected first use. We accrue for warranty costs, which are primarily based on historical experience as to product failures as well as current information on replacement costs. Systems and Services We warrant our intraoral scanners for a period of one year, which includes materials and labor. We accrue for these warranty costs based on average historical repair costs. An extended warranty may be purchased for additional fees. We warrant our CAD/CAM software for a one year period to perform in accordance with agreed product specifications. As we have not historically incurred any material warranty costs, we do not accrue for these software warranties. Warranty costs are recorded in cost of net revenues upon shipment of products. We regularly review our warranty liability and update these balances based on historical warranty cost trends. Actual warranty costs incurred have not materially differed from those accrued; however future actual warranty costs could differ from the estimated amounts.
Revenue Recognition	Revenue Recognition Our revenues are derived primarily from the sale of aligners, scanners, and services from our Clear Aligner and Systems and Services segments. We enter into sales contracts that may consist of multiple distinct performance obligations where certain performance obligations of the sales contract are not delivered in one reporting period. We measure and allocate revenues according to ASC 606-10, “Revenues from Contracts with Customers.” We identify a performance obligation as distinct if both of the following criteria are met: the customer can benefit from the good or service either on its own or together with other resources that are readily available to the customer and the entity’s promise to transfer the good or service to the customer is separately identifiable from other promises in the contract. Determining the standalone selling price (“SSP”) in order to allocate consideration from the contract to the individual performance obligations is the result of various factors, such as changing trends and market conditions, historical prices, costs, and gross margins. While changes in the allocation of the SSP between performance obligations will not affect the amount of total revenues recognized for a particular contract, any material changes could impact the timing of revenue recognition, which would have a material effect on our financial position and result of operations. This is because the contract consideration is allocated to each performance obligation, delivered or undelivered, at the inception of the contract based on the SSP of each distinct performance obligation. Clear Aligner We enter into contracts (“treatment plan(s)”) that involve multiple future performance obligations. Invisalign Comprehensive, Invisalign First, Invisalign Moderate, Invisalign Go, Invisalign Go Plus, and Lite and Express Packages include optional additional aligners at no charge for a certain period of time ranging from six months to five years after initial shipment. Our treatment plans comprise the following performance obligations that also represent distinct deliverables: initial aligners, the option of additional aligners, case refinement, and replacement aligners. We take the practical expedient to consider shipping and handling costs as activities to fulfill the performance obligation. Where processing fees are charged, the consideration received from the fees are included in the total consideration. We allocate revenues for each treatment plan based on each unit’s standalone selling price. Management considers a variety of factors such as same or similar product historical sales, costs, and gross margin, which may vary over time depending upon the unique facts and circumstances related to each performance obligation in making these estimates. In addition to historical data, we take into consideration changing trends and market conditions. For treatment plans with multiple future options, we also consider usage rates, which is the number of times a customer is expected to order additional aligners. Our process for estimating usage rates requires significant judgment and evaluation of inputs, including historical usage data by region, country and channel. We recognize the revenues upon shipment, as the customers obtain physical possession and we have enforceable rights to payment. As we collect most consideration upfront, we consider whether a significant financing component exists; however, as the delivery of the performance obligations are at the customer’s discretion, we conclude that no significant financing component exists. Systems and Services We sell intraoral scanners and CAD/CAM services through both our direct sales force and distribution partners. The intraoral scanner sales price includes one year of warranty and unlimited scanning services. The customer may also select, for additional fees, extended warranty and unlimited scanning services for periods beyond the initial year. When intraoral scanners are sold with an unlimited scanning service agreement and/or extended warranty, we allocate revenues based on the respective SSP of the scanner and the subscription service. We estimate the SSP of each element, taking into account factors such as same or similar historical prices and discounting strategies. Revenues are then recognized over time as the monthly services are rendered and upon shipment of the scanner, as that is when we deem the customer to have obtained control. We also have a rental program, where scanners are leased to customers. The contracts for the program are treated as operating leases, and the revenue is recognized ratably over the lease term. CAD/CAM services, where sold separately, include the initial software license and maintenance and support. We allocate revenues based upon the respective SSPs of the software license and the maintenance and support. We estimate the SSP of each element using data such as historical prices. Revenues related to the software license are recognized upfront and revenues related to the maintenance and support are recognized over time. For both scanner and service sales, most consideration is collected upfront and in cases where there are payment plans, consideration is collected within one year and, therefore, there are no significant financing components. Volume Discounts In certain situations, we offer promotions in which the discount will increase depending upon the volume purchased over time. We concluded that in these situations, the promotions can represent either variable consideration or options, depending upon the specifics of the promotion. In the event the promotion contains an option, the option is considered a material right and, therefore, included in the accounting for the initial arrangement. We estimate the average anticipated discount over the lifetime of the promotion or contract, and apply that discount to each unit as it is sold. On a quarterly basis, we review our estimates and, if needed, updates are made and changes are applied prospectively. Accrued Sales Return Reserve We provide a reserve for sales returns based on historical sales returns as a percentage of revenues. Costs to Obtain a Contract We offer a variety of commission plans to our salesforce; each plan has multiple components. To match the costs to obtain a contract to the associated revenues, we evaluate the individual components and capitalize the eligible components, recognizing the costs over the treatment period. The costs to obtain contracts were $27.4 million and $31.1 million as of December 31, 2022 and 2021, respectively, and are included in other assets in our Consolidated Balance Sheets. We recognized amortization on our costs to obtain a contract of $20.8 million, $17.0 million, and $10.1 million during the year ended December 31, 2022, 2021, and 2020, respectively, which is included in selling, general and administrative expenses in our Consolidated Statements of Operations. Unfulfilled Performance Obligations for Clear Aligners and Scanners Our unfulfilled performance obligations, including deferred revenues and backlog, as of December 31, 2022 and the estimated revenues expected to be recognized in the future related to these performance obligations are $1,515.4 million. This includes performance obligations from the Clear Aligner segment, primarily the shipment of additional aligners, which are fulfilled over six months to five years. This also includes the performance obligations from the Systems and Services segment, primarily services and support, which are fulfilled over one to five years, and contracted deliveries of additional scanners. The estimate includes both product and service unfulfilled performance obligations and the time range reflects our best estimate of when we will transfer control to the customer and may change based on customer usage patterns, timing of shipments, readiness of customers' facilities for installation, and manufacturing availability. Contract Balances The timing of revenue recognition results in deferred revenues being recognized on our Consolidated Balance Sheet. For both aligners and scanners, we usually collect the total consideration owed prior to all performance obligations being performed with payment terms generally varying from net 30 to net 180 days. Contract liabilities are recorded as deferred revenue balances, which are generated based upon timing of invoices and recognition patterns, not payments. If the revenue recognition exceeds the billing, the exceeded amount is considered unbilled receivable and a contract asset. Conversely, if the billing occurs prior to the revenue recognition, the amount is considered deferred revenue and a contract liability. Shipping and Handling Costs Shipping and handling charges to customers as well as processing fees are included in net revenues, and the associated costs incurred are recorded in cost of net revenues.
Legal Proceedings and Litigations	Legal Proceedings and Litigations We are involved in legal proceedings on an ongoing basis. If we believe that a loss arising from such matters is probable and can be reasonably estimated, we accrue the estimated loss in our consolidated financial statements. If only a range of estimated losses can be determined, we accrue an amount within the range that, in our judgment, reflects the most likely outcome; if none of the estimates within that range is a better estimate than any other amount, we accrue the low end of the range.
Research and Development	Research and Development Research and development costs are expensed as incurred and includes the costs associated with the research and development of new products and enhancements to existing products. These costs primarily include personnel-related costs, including payroll and stock-based compensation, equipment, material and maintenance costs, outside consulting expenses, depreciation and amortization expense and allocations of corporate overhead expenses including facilities and information technology (“IT”).
Advertising Costs	Advertising Costs The cost of advertising and media is expensed as incurred. For the year ended December 31, 2022, 2021 and 2020, we incurred advertising costs of $222.0 million, $325.6 million and $161.0 million, respectively.
Stock-Based Compensation	Stock-Based Compensation We recognize stock-based compensation cost for shares expected to vest on a straight-line basis over the requisite service period of the award, net of estimated forfeitures. We use the Black-Scholes option pricing model to determine the fair value of employee stock purchase plan shares. We use a Monte Carlo simulation model to estimate the fair value of market-performance based restricted stock units which requires the input of assumptions, including expected term, stock price volatility and the risk-free rate of return. For restricted stock units which vest based on performance conditions, we use the stock price on the grant date to estimate the fair value and stock-based compensation cost is recorded based on expected attainment of performance targets. Forfeitures are estimated based on historical experience at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates.
Income Taxes	Income Taxes We make certain estimates and judgments in determining income tax expense for financial statement purposes. These estimates and judgments occur in the calculation of certain tax assets and liabilities, which arise from differences in the timing of recognition of revenues and expenses for tax and financial statement purposes. As part of the process of preparing our consolidated financial statements, we are required to estimate our income taxes in each of the jurisdictions in which we operate. This process involves us estimating our current tax exposure under the applicable tax laws and assessing temporary differences resulting from differing treatment of items for tax and accounting purposes. These differences result in deferred tax assets and liabilities which are included in our Consolidated Balance Sheets. We account for uncertainty in income taxes pursuant to authoritative guidance based on a two-step approach to recognize and measure uncertain tax positions taken or expected to be taken in a tax return. The first step is to determine if the weight of available evidence indicates that it is more likely than not that the tax position will be sustained on audit based on its technical merits, including resolution of any related appeals or litigation processes. The second step is to measure the tax benefit as the largest amount that is more than 50% likely to be realized upon ultimate settlement. We adjust reserves for our uncertain tax positions due to changing facts and circumstances, such as the closing of a tax audit or refinement of estimates due to new information. To the extent that the final outcome of these matters is different than the amounts recorded, such differences will impact our tax provision in our Consolidated Statement of Operations in the period in which such determination is made. We assess the likelihood that we will be able to realize our deferred tax assets. Should there be a change in our ability to realize our deferred tax assets, our tax provision would increase in the period in which we determine that it is more likely than not that we cannot realize our deferred tax assets. We consider all available evidence, both positive and negative, including historical levels of income, expectations and risks associated with estimates of future taxable income and ongoing prudent and feasible tax planning strategies in assessing the need for a valuation allowance. If it is more likely than not that we will not realize our deferred tax assets, we will increase our provision for taxes by recording a valuation allowance against the deferred tax assets that we estimate will not ultimately be realizable. During fiscal 2020, we completed an intra-entity transfer of certain intellectual property rights and fixed assets to our Swiss subsidiary, which resulted in the recognition of deferred tax assets and related tax benefits. Refer to Note 12 “Income Taxes” of Notes to Consolidated Financial Statements for more information. The establishment of deferred tax assets from the intra-entity transfer of intangible assets required us to make significant estimates and assumptions to determine the fair value of intellectual property rights transferred which include, but are not limited to, our expectations of growth rates in revenue, margins, future cash flows, and discount rates. The accuracy of these estimates could be affected by unforeseen events or actual results, and the sustainability of our future tax benefits is dependent upon the acceptance of these valuation estimates and assumptions by the taxing authorities. The U.S. Tax Cuts and Jobs Act includes provisions for certain foreign-sourced earnings referred to as Global Intangible Low-Taxed Income (“GILTI”) which imposes a tax on foreign income in excess of a deemed return on tangible assets of foreign corporations. We have made the election to record GILTI tax using the period cost method.
Common Stock Repurchase	Common Stock Repurchase We repurchase our own common stock from time to time under stock repurchase programs approved by our Board of Directors. We account for these repurchases under the accounting guidance for equity where we allocate the total repurchase value that is in excess over par value between additional paid-in capital and retained earnings. All shares repurchased are retired.
Recent Accounting Pronouncements	Recent Accounting Pronouncements (i) New Accounting Updates Recently Adopted In October 2021, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update 2021-08, “Business Combinations (Topic 805) Accounting for Contract Assets and Contract Liabilities from Contracts with Customers,” which requires contract assets and contract liabilities acquired in a business combination to be recognized and measured in accordance with ASC 606, Revenue from Contracts with Customers as if the acquirer had originated the contracts. The updated guidance is effective for fiscal years and interim periods within those years beginning after December 15, 2022 on a prospective basis and early adoption is permitted. We early adopted this standard during 2022 which did not have a material impact on our consolidated financial statements and related disclosures. (ii) Recent Accounting Pronouncements Not Yet Effective We continue to monitor new accounting pronouncements issued by the FASB and do not believe any of the recently issued accounting pronouncements will have a material impact on our consolidated financial statements or related disclosures.
Earnings per share	Basic net income per share is computed using the weighted average number of shares of common stock outstanding during the period. Diluted net income per share is computed using the weighted average number of shares of common stock, adjusted for any dilutive effect of potential common stock. Potential common stock, computed using the treasury stock method, includes RSUs, MSUs, PSUs and our ESPP.

Balance Sheet Components - Property and Equipment (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment, Net [Abstract]
Property and equipment	$ 1,681,581	$ 1,441,027
Less: Accumulated depreciation and impairment charges	(449,726)	(359,101)
Total property, plant and equipment, net	1,231,855	1,081,926
Depreciation	109,800	92,100	$ 80,100
Clinical and manufacturing equipment
Property, Plant and Equipment, Net [Abstract]
Property and equipment	$ 583,776	452,876
Building
Property, Plant and Equipment [Line Items]
Estimated useful life	20 years
Property, Plant and Equipment, Net [Abstract]
Property and equipment	$ 466,003	310,344
Leasehold improvements
Property, Plant and Equipment, Net [Abstract]
Property and equipment	$ 64,238	61,289
Computer software and hardware
Property, Plant and Equipment [Line Items]
Estimated useful life	3 years
Property, Plant and Equipment, Net [Abstract]
Property and equipment	$ 120,544	117,986
Land
Property, Plant and Equipment, Net [Abstract]
Property and equipment	58,885	58,869
Furniture, fixtures and other
Property, Plant and Equipment, Net [Abstract]
Property and equipment	102,933	71,977
Construction in progress
Property, Plant and Equipment, Net [Abstract]
Property and equipment	$ 285,202	$ 367,686
Maximum \| Clinical and manufacturing equipment
Property, Plant and Equipment [Line Items]
Estimated useful life	10 years
Maximum \| Furniture, fixtures and other
Property, Plant and Equipment [Line Items]
Estimated useful life	5 years
Minimum \| Furniture, fixtures and other
Property, Plant and Equipment [Line Items]
Estimated useful life	2 years

Net Income per Share

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Net Income per Share

Net Income per ShareBasic net income per share is computed using the weighted average number of shares of common stock outstanding during the period. Diluted net income per share is computed using the weighted average number of shares of common stock, adjusted for any dilutive effect of potential common stock. Potential common stock, computed using the treasury stock method, includes RSUs, MSUs, PSUs and our ESPP.

The following table sets forth the computation of basic and diluted net income per share attributable to common stock (in thousands, except per share amounts):


	Year Ended December 31,
	2022		2021		2020
Numerator:
Net income	$	361,573	$	772,020	$	1,775,888
Denominator:
Weighted average common shares outstanding, basic	78,190		78,917		78,760
Dilutive effect of potential common stock	230		753		470
Total shares, diluted	78,420		79,670		79,230

Net income per share, basic	$	4.62	$	9.78	$	22.55
Net income per share, diluted	$	4.61	$	9.69	$	22.41

Anti-dilutive potential common shares 1	320		1		280

1 Represents stock-based awards not included in the calculation of diluted net income per share as the effect would have been anti-dilutive.

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Accounts receivable, allowance for doubtful accounts and returns	$ 10,343	$ 9,245
Preferred stock, par value (usd per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (shares)	5,000,000	5,000,000
Preferred stock, issued (shares)	0	0
Common stock, par value (usd per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (shares)	200,000,000	200,000,000
Common stock, issued (shares)	77,267,000	78,710,000
Common stock, outstanding (shares)	77,267,000	78,710,000

Income Taxes - Differences Between Income Taxes Using Federal Statutory Income Tax Rate and Effective Tax Rate (Detail)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
U.S. federal statutory income tax rate	21.00%	21.00%	21.00%
State income taxes, net of federal tax benefit	3.70%	2.20%	1.50%
U.S. tax on foreign earnings	5.60%	2.50%	(1.20%)
Impact of differences in foreign tax rates	3.30%	(2.00%)	5.60%
Stock-based compensation	2.10%	(0.30%)	1.10%
Impact of intra-entity intellectual property rights transfer	0.00%	0.00%	(395.60%)
Settlement on audits	1.90%	0.00%	(1.40%)
Change in valuation allowance	1.70%	1.10%	0.10%
Other items not individually material	0.30%	(0.80%)	0.30%
Effective tax rate	39.60%	23.70%	(368.60%)

Income Taxes - Provision for (Benefit from) Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Federal
Current	$ 188,050	$ 157,383	$ 55,291
Deferred	(55,579)	(25,598)	(11,749)
Total federal income tax expense	132,471	131,785	43,542
State
Current	34,621	28,365	8,862
Deferred	(12,265)	(5,860)	(2,121)
Total state tax expense	22,356	22,505	6,741
Foreign
Current	56,537	42,681	29,399
Deferred	26,120	43,432	(1,476,621)
Total foreign tax expense	82,657	86,113	(1,447,222)
Provision for income taxes	$ 237,484	$ 240,403	$ (1,396,939)

Segments and Geographical Information

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Segments and Geographical Information

Segment Information

We report segment information based on the management approach. The management approach designates the internal reporting used by our Chief Operating Decision Maker for decision making and performance assessment as the basis for determining our reportable segments. The performance measures of our reportable segments include net revenues, gross profit and income from operations. Income from operations for each segment includes all geographic revenues, related cost of net revenues and operating expenses directly attributable to the segment. Certain operating expenses are attributable to operating segments and each allocation is measured differently based on the specific facts and circumstances of the costs being allocated. Costs not specifically allocated to segment income from operations generally include various corporate expenses such as stock-based compensation and costs related to IT, facilities, human resources, accounting and finance, legal and regulatory, other separately managed general and administrative costs outside the operating segments and restructuring costs. We group our operations into two reportable segments: Clear Aligner segment and Imaging Systems and CAD/CAM services (“Systems and Services”) segment.

Summarized financial information by segment is as follows (in thousands):


	Year Ended December 31,
	2022		2021		2020
Net revenues

Clear Aligner	$	3,072,585	$	3,247,080	$	2,101,459
Systems and Services	662,050		705,504		370,482



Total net revenues	$	3,734,635	$	3,952,584	$	2,471,941
Gross profit
Clear Aligner	$	2,228,170	$	2,474,373	$	1,532,130
Systems and Services	405,605		460,982		231,105
Total gross profit	$	2,633,775	$	2,935,355	$	1,763,235
Income from operations
Clear Aligner	$	1,134,420	$	1,325,866	$	768,045
Systems and Services	179,765		259,127		96,052
Unallocated corporate expenses	(671,590)		(608,593)		(476,926)
Total income from operations	$	642,595	$	976,400	$	387,171
Stock-based compensation
Clear Aligner	$	14,816	$	10,648	$	8,975
Systems and Services	994		705		734
Unallocated corporate expenses	117,557		102,983		88,718
Total stock-based compensation	$	133,367	$	114,336	$	98,427
Depreciation and amortization
Clear Aligner	$	57,888	$	50,723	$	41,371
Systems and Services	28,300		21,581		16,798
Unallocated corporate expenses	39,605		36,425		35,369
Total depreciation and amortization	$	125,793	$	108,729	$	93,538

The following table reconciles total segment income from operations in the table above to net income before provision for (benefit from) income taxes (in thousands):


	Year Ended December 31,
	2022		2021		2020
Total segment income from operations	$	1,314,185	$	1,584,993	$	864,097
Unallocated corporate expenses	(671,590)		(608,593)		(476,926)
Total income from operations	642,595		976,400		387,171
Interest income	5,367		3,103		3,125
Other income (expense), net	(48,905)		32,920		(11,347)
Net income before provision for (benefit from) income taxes	$	599,057	$	1,012,423	$	378,949

Geographical Information

Net revenues are presented below by geographic area (in thousands):


	Year Ended December 31,
	2022		2021		2020
Net revenues 1:
U.S.	$	1,660,045	$	1,724,296	$	1,099,564
Switzerland	1,216,094		1,353,229		809,080
Other International	858,496		875,059		563,297
Total net revenues	$	3,734,635	$	3,952,584	$	2,471,941

1 Net revenues are attributed to countries based on the location of where revenues are recognized by our legal entities.

Tangible long-lived assets, which includes Property, plant and equipment, net, and Operating lease right-of-use assets, net, are presented below by geographic area (in thousands):


	December 31,
	2022		2021
Long-lived assets 1:
Switzerland	$	532,921	$	444,205
U.S.	214,804		210,582
China	118,669		125,346
Other International	484,341		423,050
Total long-lived assets	$	1,350,735	$	1,203,183

1 Long-lived assets are attributed to countries based on the location of our entity that owns or leases the assets.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI https://asc.fasb.org/topic&trid=2134510

+ Details

Balance Sheet Components - Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Balance Sheet Related Disclosures [Abstract]
Value added tax receivables	$ 140,484	$ 93,610
Prepaid expenses	69,124	70,218
Other current assets	16,762	31,477
Total prepaid expenses and other current assets	$ 226,370	$ 195,305

Stockholders' Equity - Weighted-Average Assumptions Used in the Monte Carlo Simulation (Detail) - Market Performance Based Restricted Stock Units - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	3 years	3 years	3 years
Expected volatility	53.80%	56.30%	44.40%
Risk-free interest rate	1.70%	0.20%	1.40%
Expected dividends	0.00%	0.00%	0.00%
Weighted average fair value per share at grant date (usd per share)	$ 915.22	$ 1,102.09	$ 392.67

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

Net income before provision for (benefit from) income taxes consists of the following (in thousands):


	Year Ended December 31,
	2022		2021		2020
Domestic	$	268,097	$	378,478	$	173,099
Foreign	330,960		633,945		205,850
Net income before provision for (benefit from) income taxes	$	599,057	$	1,012,423	$	378,949

Schedule of Components of Income Tax Expense (Benefit)

The provision for (benefit from) income taxes consists of the following (in thousands):


	Year Ended December 31,
	2022		2021		2020
Federal
Current	$	188,050	$	157,383	$	55,291
Deferred	(55,579)		(25,598)		(11,749)
	132,471		131,785		43,542
State
Current	34,621		28,365		8,862
Deferred	(12,265)		(5,860)		(2,121)
	22,356		22,505		6,741
Foreign
Current	56,537		42,681		29,399
Deferred	26,120		43,432		(1,476,621)
	82,657		86,113		(1,447,222)
Provision for (benefit from) income taxes	$	237,484	$	240,403	$	(1,396,939)

Schedule of Effective Income Tax Rate Reconciliation

The differences between income taxes using the federal statutory income tax rate for 2022, 2021 and 2020 and our effective tax rates are as follows:


	Year Ended December 31,
	2022		2021		2020
U.S. federal statutory income tax rate	21.0	%	21.0	%	21.0	%
State income taxes, net of federal tax benefit	3.7		2.2		1.5
U.S. tax on foreign earnings	5.6		2.5		(1.2)
Impact of differences in foreign tax rates	3.3		(2.0)		5.6
Stock-based compensation	2.1		(0.3)		1.1

Impact of intra-entity intellectual property rights transfer	—		—		(395.6)
Settlement on audits	1.9		—		(1.4)

Change in valuation allowance	1.7		1.1		0.1
Other items not individually material	0.3		(0.8)		0.3
Effective tax rate	39.6	%	23.7	%	(368.6)	%

Schedule of Deferred Tax Assets and Liabilities

As of December 31, 2022 and 2021, the significant components of our deferred tax assets and liabilities are (in thousands):


	December 31,
	2022		2021
Deferred tax assets:
Net operating loss and capital loss carryforwards	$	15,380	$	11,069
Reserves and accruals	32,759		47,641
Stock-based compensation	19,469		13,576
Deferred revenue	117,039		83,514
Capitalized research & development	54,293		413
Amortizable tax basis in intangibles	1,350,434		1,392,471


Other	16,645		15,645
Deferred tax assets before valuation allowance	1,606,019		1,564,329
Valuation allowance	(23,286)		(12,938)
Total deferred tax assets	1,582,733		1,551,391

Deferred tax liabilities:
Depreciation and amortization	11,407		12,328
Acquisition-related intangibles	26,008		28,989
Other	3,438		6,931
Total deferred tax liabilities	40,853		48,248
Net deferred tax assets	1,541,880		1,503,143

Schedule of Unrecognized Tax Benefits Rollforward

The changes in the balance of gross unrecognized tax benefits, which exclude interest and penalties, for the year ended December 31, 2022, 2021 and 2020, are as follows (in thousands):


	Year Ended December 31,
	2022		2021		2020
Gross unrecognized tax benefits at January 1,	$	63,295	$	46,320	$	46,650
Increases related to tax positions taken during the current year	84,249		27,710		20,592

Increases related to tax positions taken during a prior year	15,411		5,471		10,201
Decreases related to tax positions taken during a prior year	(2,647)		(5,804)		(29,977)
Decreases related to expiration of statute of limitations	(4,582)		(8,986)		—
Decreases related to settlement with tax authorities	(14,166)		(1,416)		(1,146)
Gross unrecognized tax benefits at December 31,	$	141,560	$	63,295	$	46,320

Restructuring and Other Charges (Tables)

12 Months Ended

Dec. 31, 2022

Restructuring and Related Activities [Abstract]

Schedule of Activity Relating to the Restructuring Liabilities

Activity related to the restructuring liabilities associated with our restructuring initiatives consist of the following (in thousands):


	Severance and related costs		Impairment Charges		Total
Restructuring charges	$	8,723	$	1,453	$	10,176
Cash payments	(4,807)		—		(4,807)
Non-cash charges	—		(1,453)		(1,453)
Balance as of December 31, 2022 1	$	3,916	$	—	$	3,916

1 Included in “Accrued liabilities” within our Consolidated Balance Sheet.

Segments and Geographical Information - Long-Lived Assets by Geographic Area (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Total long-lived assets	$ 1,350,735	$ 1,203,183
Switzerland
Segment Reporting Information [Line Items]
Total long-lived assets	532,921	444,205
U.S.
Segment Reporting Information [Line Items]
Total long-lived assets	214,804	210,582
China
Segment Reporting Information [Line Items]
Total long-lived assets	118,669	125,346
Other International
Segment Reporting Information [Line Items]
Total long-lived assets	$ 484,341	$ 423,050

Financial Instruments - Cash, Cash Equivalents and Marketable Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Amortized Cost
Cash, cash equivalents and marketable securities	$ 1,045,191	$ 1,297,157
Gross Unrealized Gains
Cash, cash equivalents and marketable securities	2	9
Gross Unrealized Losses
Cash, cash equivalents and marketable securities	(3,631)	(504)
Fair Value
Cash and cash equivalents	942,050	1,099,370
Marketable securities, fair value	99,512	198,850
Cash, cash equivalents and marketable securities	1,041,562	1,296,662
Cash
Amortized Cost
Cash and cash equivalents	712,921	754,802
Fair Value
Cash and cash equivalents	712,921	754,802
Cash and Cash Equivalents
Fair Value
Cash, cash equivalents and marketable securities	942,050	1,099,370
Cash and Cash Equivalents \| Cash
Fair Value
Cash and cash equivalents	712,921	754,802
Marketable securities, short-term
Fair Value
Cash, cash equivalents and marketable securities	57,534	71,972
Marketable securities, long-term
Fair Value
Cash, cash equivalents and marketable securities	41,978	125,320
Money market funds
Amortized Cost
Cash and cash equivalents	229,129	343,012
Gross Unrealized Losses
Cash and cash equivalents		(2)
Fair Value
Cash and cash equivalents	229,129	343,010
Money market funds \| Cash and Cash Equivalents
Fair Value
Cash and cash equivalents	229,129	343,010
Corporate bonds
Amortized Cost
Marketable securities, amortized cost	69,390	115,507
Gross Unrealized Gains
Marketable securities	0	9
Gross Unrealized Losses
Marketable securities	(2,915)	(398)
Fair Value
Marketable securities, fair value	66,475	115,118
Corporate bonds \| Cash and Cash Equivalents
Fair Value
Marketable securities, fair value		1,042
Corporate bonds \| Marketable securities, short-term
Fair Value
Marketable securities, fair value	36,510	35,065
Corporate bonds \| Marketable securities, long-term
Fair Value
Marketable securities, fair value	29,965	79,011
U.S. government treasury bonds
Amortized Cost
Marketable securities, amortized cost	20,559	42,976
Gross Unrealized Gains
Marketable securities	0	0
Gross Unrealized Losses
Marketable securities	(549)	(48)
Fair Value
Marketable securities, fair value	20,010	42,928
U.S. government treasury bonds \| Marketable securities, short-term
Fair Value
Marketable securities, fair value	15,404	22,251
U.S. government treasury bonds \| Marketable securities, long-term
Fair Value
Marketable securities, fair value	4,606	20,677
Asset-backed securities
Amortized Cost
Marketable securities, amortized cost	4,514	32,031
Gross Unrealized Gains
Marketable securities	1	0
Gross Unrealized Losses
Marketable securities	(37)	(40)
Fair Value
Marketable securities, fair value	4,478	31,991
Asset-backed securities \| Marketable securities, short-term
Fair Value
Marketable securities, fair value	2,909	10,999
Asset-backed securities \| Marketable securities, long-term
Fair Value
Marketable securities, fair value	1,569	20,992
Municipal bonds
Amortized Cost
Marketable securities, amortized cost	3,447	7,628
Gross Unrealized Gains
Marketable securities	0	0
Gross Unrealized Losses
Marketable securities	(61)	(15)
Fair Value
Marketable securities, fair value	3,386	7,613
Municipal bonds \| Cash and Cash Equivalents
Fair Value
Marketable securities, fair value		516
Municipal bonds \| Marketable securities, short-term
Fair Value
Marketable securities, fair value	2,711	3,657
Municipal bonds \| Marketable securities, long-term
Fair Value
Marketable securities, fair value	675	3,440
U.S. government agency bonds
Amortized Cost
Marketable securities, amortized cost	5,231	1,201
Gross Unrealized Gains
Marketable securities	1	0
Gross Unrealized Losses
Marketable securities	(69)	(1)
Fair Value
Marketable securities, fair value	5,163	1,200
U.S. government agency bonds \| Marketable securities, long-term
Fair Value
Marketable securities, fair value	$ 5,163	$ 1,200

Common Stock Repurchase Programs

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

Common Stock Repurchase Programs

In May 2018, our Board of Directors authorized a plan to repurchase up to $600.0 million of our common stock (“May 2018 Repurchase Program”). As of December 31, 2021, the authorization under the May 2018 Repurchase Program was completed. In May 2021, our Board of Directors authorized a plan to repurchase up to $1.0 billion of our common stock (“May 2021 Repurchase Program”). As of December 31, 2022, we have $249.9 million available for repurchases under the May 2021 Repurchase Program.

Subsequent to the fourth quarter, in January 2023, our Board of Directors authorized a plan to repurchase up to $1.0 billion of our common stock.

Accelerated Share Repurchase Agreements (“ASRs”)

We entered into ASRs providing for the repurchase of our common stock based on the volume-weighted average price during the term of the agreement, less an agreed upon discount. Under the terms of the ASRs, the financial institution may be required to deliver additional shares of common stock at final settlement or, under certain circumstances, we may be required at our election, to either deliver shares or make a cash payment to the financial institution. The ASRs limit the number of shares we would be required to deliver.

The following table summarizes the information regarding repurchases of our common stock under ASRs:



Agreement Date	Repurchase Program	Amount Paid (in millions)		Completion Date	Total Shares Received	Average Price per Share

Q2 2021	May 2018	$	100.0	Q3 2021	171,322	$	583.70
Q2 2021	May 2021	$	100.0	Q3 2021	161,707	$	618.40
Q3 2021	May 2021	$	75.0	Q3 2021	109,239	$	686.91
Q4 2021	May 2021	$	100.0	Q4 2021	150,031	$	666.53
Q2 2022	May 2021	$	200.0	Q2 2022	756,502	$	264.37
Q4 2022	May 2021	$	200.0	N/A1	848,266	$	188.62

1 As of December 31, 2022, the contract was open and we recorded the remaining equity forward contract at a fair value of $40.0 million which was included within “Additional paid-in capital” in stockholders' equity in our Consolidated Balance Sheet. Subsequent to the fourth quarter, the ASR was completed and 0.1 million additional shares were received at an average price per share of $293.15.

Subsequent to the fourth quarter, on February 3, 2023, we entered into an ASR to repurchase $250.0 million of our common stock, completing our 2021 Repurchase Program. We paid $250.0 million and received an initial delivery of approximately 0.6 million shares based on current market prices. The final number of shares to be repurchased will be based on our volume-weighted average stock price under the terms of the ASR, less an agreed upon discount.

Open Market Common Stock Repurchases

During the year ended December 31, 2022, we repurchased on the open market approximately 0.1 million shares of our common stock at an average price of $522.61 per share, including commissions and fees, for an aggregate purchase price of $75.0 million.

Financial Instruments

12 Months Ended

Dec. 31, 2022

Investments, All Other Investments [Abstract]

Financial Instruments

Cash, Cash Equivalents and Marketable Securities

The following tables summarize our cash and cash equivalents, and marketable securities on our Consolidated Balance Sheet as of December 31, 2022 and 2021 (in thousands):


									Reported as:
December 31, 2022	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Cash and Cash Equivalents		Marketable securities, short-term		Marketable securities, long-term
Cash	$	712,921	$	—	$	—	$	712,921	$	712,921	$	—	$	—
Money market funds	229,129		—		—		229,129		229,129		—		—
Corporate bonds	69,390		—		(2,915)		66,475		—		36,510		29,965
U.S. government treasury bonds	20,559		—		(549)		20,010		—		15,404		4,606
Asset-backed securities	4,514		1		(37)		4,478		—		2,909		1,569
Municipal bonds	3,447		—		(61)		3,386		—		2,711		675
U.S. government agency bonds	5,231		1		(69)		5,163		—		—		5,163

Total	$	1,045,191	$	2	$	(3,631)	$	1,041,562	$	942,050	$	57,534	$	41,978


									Reported as:
December 31, 2021	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Cash and Cash Equivalents		Marketable securities, short-term		Marketable securities, long-term
Cash	$	754,802	$	—	$	—	$	754,802	$	754,802	$	—	$	—
Money market funds	343,012		—		(2)		343,010		343,010		—		—
Corporate bonds	115,507		9		(398)		115,118		1,042		35,065		79,011
U.S. government treasury bonds	42,976		—		(48)		42,928		—		22,251		20,677
Asset-backed securities	32,031		—		(40)		31,991		—		10,999		20,992
Municipal bonds	7,628		—		(15)		7,613		516		3,657		3,440
U.S. government agency bonds	1,201		—		(1)		1,200		—		—		1,200

Total	$	1,297,157	$	9	$	(504)	$	1,296,662	$	1,099,370	$	71,972	$	125,320

The following table summarizes the fair value of our available-for-sale marketable securities classified by contractual maturity as of December 31, 2022 and 2021 (in thousands):


	December 31,
	2022		2021
Due in 1 year or less	$	51,037	$	59,737
Due in 1 year through 5 years	48,475		139,113
Total	$	99,512	$	198,850

The securities that we invest in are generally deemed to be low risk based on their credit ratings from the major rating agencies. The longer the duration of these securities, the more susceptible they are to changes in market interest rates and bond yields. As interest rates increase, those securities purchased at a lower yield show a mark-to-market unrealized loss. Our unrealized losses as of December 31, 2022 and 2021 are primarily due to changes in interest rates and credit spreads.

The following table summarizes the gross unrealized losses as of December 31, 2022, aggregated by investment category and length of time that individual securities have been in a continuous loss position (in thousands):


	As of December 31, 2022
	Less than 12 months				12 Months of Greater				Total
December 31, 2022	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss			Fair Value		Unrealized Loss
Corporate bonds	$	10,639	$	(440)	$	54,634	$	(2,475)		$	65,273	$	(2,915)
U.S. government treasury bonds	5,262		(177)		14,748		(372)			20,010		(549)
Asset-backed securities	2,636		(17)		1,275		(20)			3,911		(37)
Municipal bonds	—		—		2,412		(61)			2,412		(61)
U.S. government agency bonds	3,017		(5)		1,136		(64)			4,153		(69)

Total	$	21,554	$	(639)	$	74,205	$	(2,992)		$	95,759	$	(3,631)

As of December 31, 2021, all gross unrealized losses had been in an unrealized loss position for less than 12 months.

Investment in SmileDirectClub, LLC (“SDC”)

After tendering of our SDC equity interest in 2019, on July 3, 2019, we filed a demand for arbitration regarding SDC’s calculation of the “capital account” balance. On March 12, 2021, the arbitrator ruled in our favor and against SDC and issued an award of $43.4 million along with interest. The gain of $43.4 million was recognized as a part of our other income (expense), net in our Consolidated Statement of Operation during the year ended December 31, 2021.

Fair Value Measurements

The following tables summarize our financial assets measured at fair value as of December 31, 2022 and 2021 (in thousands):


Description	Balance as of December 31, 2022		Level 1		Level 2
Cash equivalents:
Money market funds	$	229,129	$	229,129	$	—


Short-term investments:
U.S. government treasury bonds	15,404		15,404		—
Corporate bonds	36,510		—		36,510
Municipal bonds	2,711		—		2,711

Asset-backed securities	2,909		—		2,909
Long-term investments:
U.S. government treasury bonds	4,606		4,606		—
Corporate bonds	29,965		—		29,965
Municipal bonds	675		—		675
U.S. government agency bonds	5,163		—		5,163
Asset-backed securities	1,569		—		1,569




	$	328,641	$	249,139	$	79,502


Description	Balance as of December 31, 2021		Level 1		Level 2
Cash equivalents:
Money market funds	$	343,010	$	343,010	$	—
Corporate bonds	1,042		—		1,042
Municipal bonds	516		—		516
Short-term investments:
U.S. government treasury bonds	22,251		22,251		—
Corporate bonds	35,065		—		35,065
Municipal bonds	3,657		—		3,657
Asset-backed securities	10,999		—		10,999
Long-term investments:
U.S. government treasury bonds	20,677		20,677		—
Corporate bonds	79,011		—		79,011
Municipal bonds	3,440		—		3,440
U.S. government agency bonds	1,200		—		1,200
Asset-backed securities	20,992		—		20,992
Prepaid expenses and other current assets:
Israeli funds	3,841		—		3,841


	$	545,701	$	385,938	$	159,763

Derivatives Not Designated as Hedging Instruments

Recurring foreign currency forward contracts

We enter into foreign currency forward contracts to minimize the short-term impact of foreign currency exchange rate fluctuations on certain trade and intercompany receivables and payables. These forward contracts are classified within Level 2 of the fair value hierarchy. As a result of the settlement of foreign currency forward contracts, the net gain recognized during the year ended December 31, 2022 was not material and we recognized a net gain of $18.8 million and a net loss of $22.1 million, during the year ended December 31, 2021 and 2020, respectively. As of December 31, 2022 and 2021, the fair value of foreign exchange forward contracts outstanding was not material.

The following tables presents the gross notional value of all our foreign exchange forward contracts outstanding as of December 31, 2022 and 2021 (in thousands):


	December 31, 2022
	Local Currency Amount	Notional Contract Amount (USD)
Euro	€186,900	$	200,010
Polish Zloty	PLN365,988	83,307
Canadian Dollar	C$109,000	80,514
Chinese Yuan	¥471,000	68,223
British Pound	£41,200	49,677
Japanese Yen	¥6,200,000	47,196
Israeli Shekel	ILS110,030	31,383
Swiss Franc	CHF25,000	27,165
Brazilian Real	R$141,200	26,839
Mexican Peso	M$230,000	11,746
New Zealand Dollar	NZ$6,000	3,806
Australian Dollar	A$4,000	2,721
Czech Koruna	Kč56,000	2,469
New Taiwan Dollar	NT$60,000	1,959
		$	637,015


	December 31, 2021
	Local Currency Amount	Notional Contract Amount (USD)
Euro	€165,110	$	186,358
Canadian Dollar	C$99,800	78,018
Chinese Yuan	¥494,500	77,358
Polish Zloty	PLN219,800	54,014
Brazilian Real	R$286,500	50,894
Japanese Yen	¥5,548,700	48,206
British Pound	£34,740	46,881
Israeli Shekel	ILS54,110	17,416
Mexican Peso	M$311,500	15,133
Swiss Franc	CHF9,950	10,883
Australian Dollar	A$6,900	5,009
		$	590,170

Other foreign currency forward contract

Prior to the closing of the exocad acquisition on April 1, 2020, we entered into a Euro foreign currency forward contract with a notional contract amount of €376.0 million. Relating to this forward contract, in 2020, we recognized a loss of $10.2 million within other income (expense), net in our Consolidated Statement of Operations.

Stockholders' Equity

12 Months Ended

Dec. 31, 2022

Stockholders' Equity Note [Abstract]

Stockholders' Equity

Stockholders’ Equity

Common Stock

The holders of common stock are entitled to receive dividends whenever funds are legally available and when and if declared by the Board of Directors. We have never declared or paid dividends on our common stock.

Stock-Based Compensation Plans

Our 2005 Incentive Plan, as amended, provides for the granting of incentive stock options, non-statutory stock options, restricted stock, stock appreciation rights, performance units and performance shares to employees, non-employee directors and consultants. Shares granted on or after May 16, 2013 as an award of restricted stock, restricted stock units, performance shares or performance units (“full value awards”) are counted against the authorized share reserve as one and nine-tenths (1 9/10) shares for every one (1) share subject to the award, and any shares canceled that were counted as one and nine-tenths against the plan reserve will be returned at the same ratio.

As of December 31, 2022, the 2005 Incentive Plan, as amended, has a total reserve of 27,783,379 shares for issuance of which 3,760,672 shares are available for issuance. We issue new shares from our pool of authorized but unissued shares to satisfy the exercise and vesting obligations of our stock-based compensation plans.

Summary of Stock-Based Compensation Expense

The stock-based compensation related to our stock-based awards and employee stock purchase plan for the year ended December 31, 2022, 2021 and 2020 is as follows (in thousands):


	Year Ended December 31,
	2022		2021		2020
Cost of net revenues	$	6,438	$	5,633	$	4,719
Selling, general and administrative	103,134		90,659		78,500

Research and development	23,795		18,044		15,208
Total stock-based compensation	$	133,367	$	114,336	$	98,427

The income tax benefit related to stock-based compensation was $14.9 million, $13.8 million and $11.9 million for the year ended December 31, 2022, 2021 and 2020, respectively.

Restricted Stock Units (“RSUs”)

The fair value of RSUs is based on our closing stock price on the date of grant. RSUs granted generally vest over a period of four years. A summary for the year ended December 31, 2022 is as follows:


	Number of Shares Underlying RSUs (in thousands)	Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in thousands)








Unvested as of December 31, 2021	492	$	369.17
Granted	248	469.12
Vested and released	(200)	333.76
Forfeited	(51)	437.05
Unvested as of December 31, 2022	489	$	427.23	1.2	$	103,138

The aggregate intrinsic value in the table above represents the total pre-tax intrinsic value (calculated by multiplying our closing stock price on the last trading day of 2022 by the number of unvested RSUs) that would have been received by the unit holders had all RSUs been vested and released as of the last trading day of 2022. This amount will fluctuate based on the fair market value of our stock. During 2022, of the 199,832 shares vested and released, 59,115 shares were withheld for employee statutory tax obligations, resulting in a net issuance of 140,717 shares.

The total fair value of RSUs vested as of their respective vesting dates during 2022, 2021 and 2020 was $93.7 million, $158.8 million and $89.6 million, respectively. The weighted average grant date fair value of RSUs granted during 2022, 2021 and 2020 was $469.12, $600.10 and $267.24, respectively. As of December 31, 2022, we expect to recognize $133.4 million of total unamortized compensation costs, net of estimated forfeitures, related to RSUs over a weighted average period of 2.2 years.

Market-Performance Based Restricted Stock Units (“MSUs”)

We grant MSUs to members of senior management. Each MSU represents the right to one share of our common stock. The actual number of MSUs which will be eligible to vest will be based on the performance of our stock price relative to the performance of a stock market index over the vesting period. MSUs vest over a period of three years and the maximum number eligible to vest in the future is 250% of the MSUs initially granted.

The following table summarizes the MSU performance activity for the year ended December 31, 2022:


	Number of Shares Underlying MSUs (in thousands)	Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in thousands)




Unvested as of December 31, 2021	174	$	551.57
Granted 1	101	607.96
Vested and released	(128)	396.10
Forfeited	(3)	744.39
Unvested as of December 31, 2022	144	$	725.73	1.0	$	30,384

1 Includes MSUs vested during the period above 100% of the grant as actual shares released is based on our stock performance over the vesting period

The aggregate intrinsic value in the table above represents the total pre-tax intrinsic value (calculated by multiplying our closing stock price on the last trading day of 2022 by the number of unvested MSUs) that would have been received by the unit holders had all MSUs been vested and released as of the last trading day of 2022. This amount will fluctuate based on the fair market value of our stock. During 2022, of the 128,259 shares vested and released, 49,524 shares were withheld for employee statutory tax obligations, resulting in a net issuance of 78,735 shares.

The total fair value of MSUs vested as of their respective vesting dates during 2022, 2021 and 2020 was $64.0 million, $135.6 million and $47.1 million, respectively. As of December 31, 2022, we expect to recognize $40.1 million of total unamortized compensation costs, net of estimated forfeitures, related to MSUs over a weighted average period of 1.0 year.

The fair value of MSUs is estimated at the grant date using a Monte Carlo simulation that includes factors for market conditions. The weighted average assumptions used in the Monte Carlo simulation were as follows:


	Year Ended December 31,
	2022			2021			2020
Expected term (in years)	3.0			3.0			3.0
Expected volatility	53.8		%	56.3		%	44.4		%
Risk-free interest rate	1.7		%	0.2		%	1.4		%
Expected dividends	—			—			—
Weighted average fair value per share at grant date	$	915.22		$	1,102.09		$	392.67

Restricted Stock Units with Performance Conditions (“PSUs”)

In the fourth quarter of 2022, we granted PSUs to certain employees which are eligible to vest based on the achievement of project-based milestones over a term of 2.2 years. Total PSUs granted were 4,728 and the weighted average grant date fair value for the PSUs was $201.63.

Employee Stock Purchase Plan (“ESPP”)

In May 2010, our stockholders approved the 2010 Employee Stock Purchase Plan (the “2010 Purchase Plan”) which consists of consecutive overlapping twenty-four month offering periods with four six-month purchase periods in each offering period. Employees purchase shares at 85% of the lower of the fair market value of the common stock at either the beginning of the offering period or the end of the purchase period. The 2010 Purchase Plan will continue until terminated by either the Board of Directors or its administrator. The 2010 Purchase Plan also allows for purchase rights to employees outside the U.S. and Canada with six-month offering periods and purchase periods. In May 2021, the 2010 Purchase Plan was amended and restated to increase the maximum number of shares available for purchase to 4,400,000 shares.

The following table summarizes the ESPP shares issued:


	Year Ended December 31,
	2022		2021		2020
Number of shares issued (in thousands)	86		131		116
Weighted average price	$	305.24	$	195.44	$	175.69

As of December 31, 2022, 2,108,898 shares remain available for future issuance.

The fair value of the option component of the 2010 Purchase Plan shares was estimated at the grant date using the Black-Scholes option pricing model with the following weighted average assumptions:


	Year Ended December 31,
	2022			2021			2020
Expected term (in years)	1.5			1.1			1.0
Expected volatility	50.2		%	52.7		%	55.0		%
Risk-free interest rate	1.8		%	0.1		%	0.9		%
Expected dividends	—			—			—
Weighted average fair value at grant date	$	159.44		$	246.84		$	96.94

We recognized stock-based compensation related to our employee stock purchase plan of $23.5 million, $12.2 million and $10.5 million for the year ended December 31, 2022, 2021 and 2020, respectively. As of December 31, 2022, we expect to recognize $14.8 million of total unamortized compensation costs related to future employee stock purchases over a weighted average period of 0.9 year.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Section S99
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-Subparagraph (SX 210.3-04)
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 505
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Goodwill and Intangible Assets - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill impairment	$ 0	$ 0
Amortization of Intangible Assets	$ 16,000,000	$ 16,600,000	$ 13,400,000

Net Income per Share (Tables)

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Schedule of Earnings Per Share Basic And Diluted

The following table sets forth the computation of basic and diluted net income per share attributable to common stock (in thousands, except per share amounts):


	Year Ended December 31,
	2022		2021		2020
Numerator:
Net income	$	361,573	$	772,020	$	1,775,888
Denominator:
Weighted average common shares outstanding, basic	78,190		78,917		78,760
Dilutive effect of potential common stock	230		753		470
Total shares, diluted	78,420		79,670		79,230

Net income per share, basic	$	4.62	$	9.78	$	22.55
Net income per share, diluted	$	4.61	$	9.69	$	22.41

Anti-dilutive potential common shares 1	320		1		280

1 Represents stock-based awards not included in the calculation of diluted net income per share as the effect would have been anti-dilutive.

Supplemental Cash Flow Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Supplemental Cash Flow Information [Abstract]
Taxes paid	$ 231,884	$ 203,309	$ 76,332
Non-cash investing and financing activities:
Acquisition of property, plant and equipment in accounts payable and accrued liabilities	35,767	64,135	37,267
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	31,015	29,769	26,022
Right-of-use assets obtained in exchange for lease obligations:
Right-of-use assets obtained in exchange for lease obligations, operating leases	$ 34,144	$ 68,463	$ 47,981

Segments and Geographical Information - Segment Reconciliation and Net Revenues by Geographic Area (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting Information [Line Items]
Operating Income (Loss)	$ 642,595	$ 976,400	$ 387,171
Interest income	5,367	3,103	3,125
Other income (expense), net	(48,905)	32,920	(11,347)
Net income before provision for (benefit from) income taxes	599,057	1,012,423	378,949
Net revenues	3,734,635	3,952,584	2,471,941
U.S.
Segment Reporting Information [Line Items]
Net revenues	1,660,045	1,724,296	1,099,564
Switzerland
Segment Reporting Information [Line Items]
Net revenues	1,216,094	1,353,229	809,080
Other International
Segment Reporting Information [Line Items]
Net revenues	858,496	875,059	563,297
Operating Segments
Segment Reporting Information [Line Items]
Operating Income (Loss)	1,314,185	1,584,993	864,097
Unallocated corporate expense
Segment Reporting Information [Line Items]
Operating Income (Loss)	$ (671,590)	$ (608,593)	$ (476,926)

Segments and Geographical Information - Segments Information - (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting Information [Line Items]
Net revenues	$ 3,734,635	$ 3,952,584	$ 2,471,941
Gross profit	2,633,775	2,935,355	1,763,235
Operating Income (Loss)	642,595	976,400	387,171
Stock-based compensation	133,367	114,336	98,427
Depreciation and amortization	125,793	108,729	93,538
Operating Segments
Segment Reporting Information [Line Items]
Operating Income (Loss)	1,314,185	1,584,993	864,097
Unallocated corporate expense
Segment Reporting Information [Line Items]
Operating Income (Loss)	(671,590)	(608,593)	(476,926)
Stock-based compensation	117,557	102,983	88,718
Depreciation and amortization	39,605	36,425	35,369
Clear Aligner
Segment Reporting Information [Line Items]
Net revenues	3,072,585	3,247,080	2,101,459
Gross profit	2,228,170	2,474,373	1,532,130
Clear Aligner \| Operating Segments
Segment Reporting Information [Line Items]
Operating Income (Loss)	1,134,420	1,325,866	768,045
Stock-based compensation	14,816	10,648	8,975
Depreciation and amortization	57,888	50,723	41,371
Systems and Services
Segment Reporting Information [Line Items]
Net revenues	662,050	705,504	370,482
Gross profit	405,605	460,982	231,105
Systems and Services \| Operating Segments
Segment Reporting Information [Line Items]
Operating Income (Loss)	179,765	259,127	96,052
Stock-based compensation	994	705	734
Depreciation and amortization	$ 28,300	$ 21,581	$ 16,798

Segments and Geographical Information (Tables)

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

Summarized financial information by segment is as follows (in thousands):


	Year Ended December 31,
	2022		2021		2020
Net revenues

Clear Aligner	$	3,072,585	$	3,247,080	$	2,101,459
Systems and Services	662,050		705,504		370,482



Total net revenues	$	3,734,635	$	3,952,584	$	2,471,941
Gross profit
Clear Aligner	$	2,228,170	$	2,474,373	$	1,532,130
Systems and Services	405,605		460,982		231,105
Total gross profit	$	2,633,775	$	2,935,355	$	1,763,235
Income from operations
Clear Aligner	$	1,134,420	$	1,325,866	$	768,045
Systems and Services	179,765		259,127		96,052
Unallocated corporate expenses	(671,590)		(608,593)		(476,926)
Total income from operations	$	642,595	$	976,400	$	387,171
Stock-based compensation
Clear Aligner	$	14,816	$	10,648	$	8,975
Systems and Services	994		705		734
Unallocated corporate expenses	117,557		102,983		88,718
Total stock-based compensation	$	133,367	$	114,336	$	98,427
Depreciation and amortization
Clear Aligner	$	57,888	$	50,723	$	41,371
Systems and Services	28,300		21,581		16,798
Unallocated corporate expenses	39,605		36,425		35,369
Total depreciation and amortization	$	125,793	$	108,729	$	93,538

The following table reconciles total segment income from operations in the table above to net income before provision for (benefit from) income taxes (in thousands):


	Year Ended December 31,
	2022		2021		2020
Total segment income from operations	$	1,314,185	$	1,584,993	$	864,097
Unallocated corporate expenses	(671,590)		(608,593)		(476,926)
Total income from operations	642,595		976,400		387,171
Interest income	5,367		3,103		3,125
Other income (expense), net	(48,905)		32,920		(11,347)
Net income before provision for (benefit from) income taxes	$	599,057	$	1,012,423	$	378,949

Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas

Net revenues are presented below by geographic area (in thousands):


	Year Ended December 31,
	2022		2021		2020
Net revenues 1:
U.S.	$	1,660,045	$	1,724,296	$	1,099,564
Switzerland	1,216,094		1,353,229		809,080
Other International	858,496		875,059		563,297
Total net revenues	$	3,734,635	$	3,952,584	$	2,471,941

1 Net revenues are attributed to countries based on the location of where revenues are recognized by our legal entities.

Tangible long-lived assets, which includes Property, plant and equipment, net, and Operating lease right-of-use assets, net, are presented below by geographic area (in thousands):


	December 31,
	2022		2021
Long-lived assets 1:
Switzerland	$	532,921	$	444,205
U.S.	214,804		210,582
China	118,669		125,346
Other International	484,341		423,050
Total long-lived assets	$	1,350,735	$	1,203,183

1 Long-lived assets are attributed to countries based on the location of our entity that owns or leases the assets.

Common Stock Repurchase Programs - Accelerated Share Repurchase Agreements (Details) - USD ($) $ / shares in Units, $ in Thousands		2 Months Ended	3 Months Ended					6 Months Ended	12 Months Ended
	Feb. 03, 2023	Feb. 27, 2023	Dec. 31, 2022	Jun. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Sep. 30, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share Repurchases [Line Items]
Amount paid									$ 435,036	$ 375,038	$ 0
Equity forward contract related to accelerated stock repurchase									$ 40,000
May 2018 Repurchase Program \| Q3 2021
Share Repurchases [Line Items]
Amount paid							$ 100,000
Common stock repurchased and retired (shares)								171,322
Cost per share (in dollars per share)								$ 583.70
May 2021 Repurchase Program
Share Repurchases [Line Items]
Common stock repurchased and retired (shares)									100,000
Cost per share (in dollars per share)									$ 522.61
May 2021 Repurchase Program \| Subsequent Event
Share Repurchases [Line Items]
Amount paid	$ 250,000
Common stock repurchased and retired (shares)	600,000
May 2021 Repurchase Program \| Q3 2021, Tranche One
Share Repurchases [Line Items]
Amount paid							$ 100,000
Common stock repurchased and retired (shares)								161,707
Cost per share (in dollars per share)								$ 618.40
May 2021 Repurchase Program \| Q3 2021, Tranche Two
Share Repurchases [Line Items]
Amount paid						$ 75,000
Common stock repurchased and retired (shares)						109,239
Cost per share (in dollars per share)						$ 686.91
May 2021 Repurchase Program \| Q4 2021
Share Repurchases [Line Items]
Amount paid					$ 100,000
Common stock repurchased and retired (shares)					150,031
Cost per share (in dollars per share)					$ 666.53
May 2021 Repurchase Program \| Q2 2022
Share Repurchases [Line Items]
Amount paid				$ 200,000
Common stock repurchased and retired (shares)				756,502
Cost per share (in dollars per share)				$ 264.37
May 2021 Repurchase Program \| Q4 2022
Share Repurchases [Line Items]
Amount paid			$ 200,000
Common stock repurchased and retired (shares)			848,266
Cost per share (in dollars per share)			$ 188.62
May 2021 Repurchase Program \| Q4 2022 \| Subsequent Event
Share Repurchases [Line Items]
Common stock repurchased and retired (shares)		100,000
Cost per share (in dollars per share)		$ 293.15

Employee Benefit Plans - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Foreign Plan
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]
Employer contributions amount	$ 54.5	$ 42.3	$ 28.9
401k Plan
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]
Employer matching contribution as percentage of employee's salary deferral contributions	50.00%
Employer matching contribution as percentage of employee's eligible compensation	6.00%
401k Plan \| U.S.
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]
Employer contributions amount	$ 10.0	$ 8.5	$ 6.9

Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The change in the carrying value of goodwill for the year ended December 31, 2022 and 2021, categorized by reportable segments, is as follows (in thousands):


	Clear Aligner		Systems and Services		Total
Balance as of December 31, 2020	$	112,691	$	332,126	$	444,817
Additions from acquisition	3,646		—		3,646
Foreign currency translation adjustments	(4,129)		(25,787)		(29,916)
Balance as of December 31, 2021	112,208		306,339		418,547
Additions from acquisition	—		8,729		8,729
Foreign currency translation adjustments	(2,728)		(16,997)		(19,725)
Balance as of December 31, 2022	$	109,480	$	298,071	$	407,551

Schedule of Amortized Intangible Assets

Acquired intangible long-lived assets were as follows, excluding intangibles that were fully amortized (in thousands):


	Weighted Average Amortization Period (in years)	Gross Carrying Amount as of December 31, 2022		Accumulated Amortization		Accumulated Impairment Loss		Net Carrying Value as of December 31, 2022
Existing technology	10	$	112,051	$	(33,537)	$	(4,328)	$	74,186
Customer relationships	10	21,500		(5,913)		—		15,587
Trademarks and tradenames	10	17,200		(6,442)		(4,122)		6,636
Patents	8	6,511		(5,288)		—		1,223
		$	157,262	$	(51,180)	$	(8,450)	97,632
Foreign currency translation adjustments								(1,912)
Total intangible assets, net 1								$	95,720

1 Also includes $33.5 million of fully amortized intangible assets related to customer relationships.


	Weighted Average Amortization Period (in years)	Gross Carrying Amount as of December 31, 2021		Accumulated Amortization		Accumulated Impairment Loss		Net Carrying Value as of December 31, 2021
Existing technology	10	$	104,531	$	(22,495)	$	(4,328)	$	77,708
Customer relationships	11	55,000		(25,891)		(10,751)		18,358
Trademarks and tradenames	10	17,200		(4,547)		(4,179)		8,474
Patents	8	6,511		(4,495)		—		2,016
		$	183,242	$	(57,428)	$	(19,258)	106,556
Foreign currency translation adjustments								3,153
Total intangible assets, net								$	109,709

Schedule of Future Amortization for Finite-Lived Intangible Assets

The total estimated annual future amortization expense for these acquired intangible assets as of December 31, 2022 is as follows (in thousands):


Fiscal Year	Amortization
2023	$	16,501
2024	15,335
2025	14,959
2026	14,353
2027	11,992
Thereafter	24,492
Total	$	97,632

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (h)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (g)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1A
-URI https://asc.fasb.org/extlink&oid=121556970&loc=SL108378252-109267

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13854-109267

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 55
-Paragraph 24
-URI https://asc.fasb.org/extlink&oid=122137925&loc=d3e14258-109268

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

+ Details

Income Taxes - Rollforward of Total Gross Unrecognized Tax Benefit (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized tax benefit as of beginning of period	$ 63,295	$ 46,320	$ 46,650
Tax positions related to current year, additions for uncertain tax positions	84,249	27,710	20,592
Tax positions related to prior year, Additions for uncertain tax positions	15,411	5,471	10,201
Tax positions related to prior year, Decreases for uncertain tax positions	(2,647)	(5,804)	(29,977)
Tax positions related to prior year, Reductions due to lapse of applicable statute of limitations	(4,582)	(8,986)	0
Tax positions related to prior year, Settlements with tax authorities	(14,166)	(1,416)	(1,146)
Unrecognized tax benefit as of end of period	$ 141,560	$ 63,295	$ 46,320

Leases - Additional information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Lessee, Lease, Description [Line Items]
Operating leases that have not yet commenced	$ 14.3
Operating lease income	$ 12.3	$ 0.0	$ 0.0
Operating lease income, location not disclosed	operating lease income	operating lease income
Minimum
Lessee, Lease, Description [Line Items]
Term of operating leases not yet commenced	3 years
Maximum
Lessee, Lease, Description [Line Items]
Term of operating leases not yet commenced	6 years

Leases

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Leases

Lessee Information

We have operating leases for our digital treatment planning and office facilities, retail spaces, vehicles and office equipment. The components of lease expenses consist of following (in thousands):


	Year Ended December 31,
Lease Cost	2022		2021		2020
Operating lease cost 1	$	37,919	$	33,241	$	27,825
Variable lease cost 2	22,084		11,134		1,429
Total lease cost	$	60,003	$	44,375	$	29,254

1 Includes expense associated with short term leases of less than 12 months which is not material

2 Includes payments related to agreements with embedded leases that are not otherwise reflected on the balance sheet. These costs are primarily associated with our manufacturing supply arrangements and fluctuate based on factory output and material price changes.

The following table provides a summary of our operating lease terms and discount rates:


	December 31,
Remaining Lease Term and Discount Rate	2022		2021

Weighted average remaining lease term (in years)	7.2		7.8


Weighted average discount rate	3.5	%	3.2	%

As of December 31, 2022, the future payments related to our operating lease liabilities are as follows (in thousands):


Fiscal Year Ending December 31,	Operating Leases
2023	$	30,596
2024	24,606
2025	19,480
2026	16,511
2027	13,363
Thereafter	39,449
Total lease payments	144,005
Less: Imputed interest	(17,097)
Total lease liabilities	$	126,908

As of December 31, 2022, we had additional leases that have not yet commenced with future lease payments of $14.3 million. These leases will commence during 2023 with non-cancelable lease terms of three to six years.

Lessor Information

We lease iTero intraoral scanners to customers which are classified as operating leases. Our portfolio of leased iTero scanners included in Property, plant and equipment, net are as follows:


	December 31,
	2022		2021
Scanners under operating leases, gross	$	22,914	$	10,927
Less: accumulated depreciation	(3,919)		(785)
Scanners under operating leases, net	$	18,995	$	10,142

As of December 31, 2022, the future lease payments due to us are as follows (in thousands):


Fiscal Year Ending December 31,	Operating Leases
2023	$	15,714
2024	13,967
2025	6,202



Total lease payments	$	35,883

For the year ended December 31, 2022, operating lease income was $12.3 million and for the years ended December 31, 2021 and 2020, operating lease income was not material.

Leases

Lessee Information

We have operating leases for our digital treatment planning and office facilities, retail spaces, vehicles and office equipment. The components of lease expenses consist of following (in thousands):


	Year Ended December 31,
Lease Cost	2022		2021		2020
Operating lease cost 1	$	37,919	$	33,241	$	27,825
Variable lease cost 2	22,084		11,134		1,429
Total lease cost	$	60,003	$	44,375	$	29,254

1 Includes expense associated with short term leases of less than 12 months which is not material

The following table provides a summary of our operating lease terms and discount rates:


	December 31,
Remaining Lease Term and Discount Rate	2022		2021

Weighted average remaining lease term (in years)	7.2		7.8


Weighted average discount rate	3.5	%	3.2	%

As of December 31, 2022, the future payments related to our operating lease liabilities are as follows (in thousands):


Fiscal Year Ending December 31,	Operating Leases
2023	$	30,596
2024	24,606
2025	19,480
2026	16,511
2027	13,363
Thereafter	39,449
Total lease payments	144,005
Less: Imputed interest	(17,097)
Total lease liabilities	$	126,908

Lessor Information

We lease iTero intraoral scanners to customers which are classified as operating leases. Our portfolio of leased iTero scanners included in Property, plant and equipment, net are as follows:


	December 31,
	2022		2021
Scanners under operating leases, gross	$	22,914	$	10,927
Less: accumulated depreciation	(3,919)		(785)
Scanners under operating leases, net	$	18,995	$	10,142

As of December 31, 2022, the future lease payments due to us are as follows (in thousands):


Fiscal Year Ending December 31,	Operating Leases
2023	$	15,714
2024	13,967
2025	6,202



Total lease payments	$	35,883

For the year ended December 31, 2022, operating lease income was $12.3 million and for the years ended December 31, 2021 and 2020, operating lease income was not material.

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Income (Loss), Net	Retained Earnings
Beginning Balance (in shares) at Dec. 31, 2019		78,433
Beginning Balance at Dec. 31, 2019	$ 1,346,169	$ 8	$ 906,937	$ (688)	$ 439,912
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,775,888				1,775,888
Net change in unrealized gains (losses) from investments	(194)			(194)
Net change in foreign currency translation adjustment	44,383			44,383
Issuance of common stock relating to employee equity compensation plans (in shares)		427
Issuance of common stock relating to employee equity compensation plans	20,314		20,314
Tax withholdings related to net share settlements of equity awards	(51,122)		(51,122)
Stock-based compensation	98,427		98,427
Ending Balance (in shares) at Dec. 31, 2020		78,860
Ending Balance at Dec. 31, 2020	3,233,865	$ 8	974,556	43,501	2,215,800
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	772,020				772,020
Net change in unrealized gains (losses) from investments	(495)			(495)
Net change in foreign currency translation adjustment	(38,680)			(38,680)
Issuance of common stock relating to employee equity compensation plans (in shares)		442
Issuance of common stock relating to employee equity compensation plans	25,623		25,623
Tax withholdings related to net share settlements of equity awards	(108,917)		(108,917)
Common stock repurchased and retired (shares)		(592)
Common stock repurchased and retired	(375,038)		(6,592)		(368,446)
Stock-based compensation	114,336		114,336
Ending Balance (in shares) at Dec. 31, 2021		78,710
Ending Balance at Dec. 31, 2021	3,622,714	$ 8	999,006	4,326	2,619,374
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	361,573				361,573
Net change in unrealized gains (losses) from investments	(3,130)			(3,130)
Net change in foreign currency translation adjustment	(11,480)			(11,480)
Issuance of common stock relating to employee equity compensation plans (in shares)		305
Issuance of common stock relating to employee equity compensation plans	26,149		26,149
Tax withholdings related to net share settlements of equity awards	(52,799)		(52,799)
Common stock repurchased and retired (shares)		(1,748)
Common stock repurchased and retired	(435,036)		(20,777)		(414,259)
Equity forward contract related to accelerated stock repurchase	(40,000)		(40,000)
Stock-based compensation	133,367		133,367
Ending Balance (in shares) at Dec. 31, 2022		77,267
Ending Balance at Dec. 31, 2022	$ 3,601,358	$ 8	$ 1,044,946	$ (10,284)	$ 2,566,688

Summary of Significant Accounting Policies - Additional Information (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) segment	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Significant Accounting Policies [Line Items]
Number of operating segments \| segment	2
Fixed-income securities investment portfolio, maximum effective maturity	40 months
Foreign currency net gains (losses)	$ (43.8)	$ (13.3)	$ 6.8
Accounts receivable sold under factoring arrangements	37.0
Revenue remaining performance obligation	1,515.4
Costs to obtain contracts	27.4	31.1
Amortization of costs to obtain contracts	20.8	17.0	10.1
Advertising cost	$ 222.0	$ 325.6	$ 161.0
Intraoral Scanners
Significant Accounting Policies [Line Items]
Warranty period	1 year
CAD/CAM Software
Significant Accounting Policies [Line Items]
Warranty period	1 year
Invisalign \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Significant Accounting Policies [Line Items]
Expected timing (up to two years for Invisalign Go)	6 months
Invisalign \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Significant Accounting Policies [Line Items]
Expected timing (up to two years for Invisalign Go)	5 years
Systems and Services \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Significant Accounting Policies [Line Items]
Expected timing (up to two years for Invisalign Go)	1 year
Systems and Services \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Significant Accounting Policies [Line Items]
Expected timing (up to two years for Invisalign Go)	5 years
Minimum
Significant Accounting Policies [Line Items]
Estimated useful lives of intangibles	2 years
Maximum
Significant Accounting Policies [Line Items]
Estimated useful lives of intangibles	15 years

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Statement [Abstract]
Net revenues	$ 3,734,635	$ 3,952,584	$ 2,471,941
Cost of net revenues	1,100,860	1,017,229	708,706
Gross profit	2,633,775	2,935,355	1,763,235
Operating expenses:
Selling, general and administrative	1,674,469	1,708,640	1,200,757
Research and development	305,258	250,315	175,307
Restructuring and other charges	11,453	0	0
Total operating expenses	1,991,180	1,958,955	1,376,064
Income from operations	642,595	976,400	387,171
Interest income	5,367	3,103	3,125
Other income (expense), net	(48,905)	32,920	(11,347)
Interest Income and Other Income (Expense), Net	(43,538)	36,023	(8,222)
Net income before provision for (benefit from) income taxes	599,057	1,012,423	378,949
Provision for (benefit from) income taxes	237,484	240,403	(1,396,939)
Net income	$ 361,573	$ 772,020	$ 1,775,888
Net income per share:
Basic (usd per share)	$ 4.62	$ 9.78	$ 22.55
Diluted (usd per share)	$ 4.61	$ 9.69	$ 22.41
Shares used in computing net income per share:
Basic (shares)	78,190	78,917	78,760
Diluted (shares)	78,420	79,670	79,230

Supplemental Cash Flow Information

12 Months Ended

Dec. 31, 2022

Supplemental Cash Flow Information [Abstract]

Supplemental Cash Flow Information

The supplemental cash flow information consists of the following (in thousands):


	Year Ended December 31,
	2022		2021		2020
Taxes paid	$	231,884	$	203,309	$	76,332
Non-cash investing and financing activities:
Acquisition of property, plant and equipment in accounts payable and accrued liabilities	$	35,767	$	64,135	$	37,267
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	31,015	$	29,769	$	26,022
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	34,144	$	68,463	$	47,981

Financial Instruments - Unrealized Losses for Investments in a Continuous Unrealized Loss Position (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Debt Securities, Available-for-Sale, Unrealized Loss Position [Line Items]
Less than 12 months, fair value	$ 21,554
12 months or greater, fair value	74,205
Fair value	95,759
Less than 12 months, unrealized loss	(639)
12 months or greater, unrealized loss	(2,992)
Unrealized loss	(3,631)
Corporate bonds
Debt Securities, Available-for-Sale, Unrealized Loss Position [Line Items]
Less than 12 months, fair value	10,639
12 months or greater, fair value	54,634
Fair value	65,273
Less than 12 months, unrealized loss	(440)
12 months or greater, unrealized loss	(2,475)
Unrealized loss	(2,915)
U.S. government treasury bonds
Debt Securities, Available-for-Sale, Unrealized Loss Position [Line Items]
Less than 12 months, fair value	5,262
12 months or greater, fair value	14,748
Fair value	20,010
Less than 12 months, unrealized loss	(177)
12 months or greater, unrealized loss	(372)
Unrealized loss	(549)
Asset-backed securities
Debt Securities, Available-for-Sale, Unrealized Loss Position [Line Items]
Less than 12 months, fair value	2,636
12 months or greater, fair value	1,275
Fair value	3,911
Less than 12 months, unrealized loss	(17)
12 months or greater, unrealized loss	(20)
Unrealized loss	(37)
Municipal bonds
Debt Securities, Available-for-Sale, Unrealized Loss Position [Line Items]
Less than 12 months, fair value	0
12 months or greater, fair value	2,412
Fair value	2,412
Less than 12 months, unrealized loss	0
12 months or greater, unrealized loss	(61)
Unrealized loss	(61)
U.S. government agency bonds
Debt Securities, Available-for-Sale, Unrealized Loss Position [Line Items]
Less than 12 months, fair value	3,017
12 months or greater, fair value	1,136
Fair value	4,153
Less than 12 months, unrealized loss	(5)
12 months or greater, unrealized loss	(64)
Unrealized loss	$ (69)

Summary of Significant Accounting Policies	12 Months Ended
Summary of Significant Accounting Policies	Dec. 31, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Business Description Align Technology, Inc. (“We”, “Our”, “Align”) is a global medical device company primarily engaged in the design, manufacture and marketing of Invisalign® clear aligners for the treatment of malocclusions, or the misalignment of teeth, by orthodontists and general dental practitioners (“GPs”), Vivera® retainers for retention, iTero® intraoral scanners and services for dentistry, and exocad® computer-aided design and computer-aided manufacturing (“CAD/CAM”) software for dental laboratories and dental practitioners. Our vision and strategy is to revolutionize orthodontic and restorative dentistry through digital treatment planning and implementation using our Align Digital PlatformTM, an integrated suite of proprietary technologies and services designed to deliver a seamless, end-to-end solution for patients and consumers, orthodontists and GPs and lab partners. We strive to achieve our vision and strategy through key objectives made possible with the proprietary technologies and services of the Align Digital Platform to establish: clear aligners as the principal solution for the treatment of malocclusions with the Invisalign System as the treatment solution of choice by orthodontists, GPs and patients globally, our intraoral scanners as the preferred scanning technology for digital dental scans, and our exocad CAD/CAM software as the dental restorative solution of choice for dental labs. Our corporate headquarters is located in Tempe, Arizona and we have offices worldwide. Our Americas regional headquarters is located in Raleigh, North Carolina; our European, Middle East and Africa (“EMEA”) regional headquarters is located in Rotkreuz, Switzerland; and our Asia Pacific (“APAC”) regional headquarters is located in Singapore. We have two operating segments: (1) Clear Aligner, known as the Invisalign system, and (2) Imaging Systems and CAD/CAM services (“Systems and Services”), known as the iTero intraoral scanner and CAD/CAM services. Basis of Presentation and Preparation The consolidated financial statements include the accounts of Align and our wholly-owned subsidiaries after elimination of intercompany transactions and balances. Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles (“GAAP”) in the United States of America (“U.S.”) requires our management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ materially from those estimates. On an ongoing basis, we evaluate our estimates, including those related to revenue recognition, useful lives of intangible assets and property and equipment, long-lived assets and goodwill, income taxes, contingent liabilities, the fair values of financial instruments, stock-based compensation and the valuation of investments in privately held companies among others. We base our estimates on historical experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Fair Value of Financial Instruments Fair value is an exit price, representing the amount that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. We use the GAAP fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. This hierarchy requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The three levels of inputs that may be used to measure fair value: Level 1 - Quoted (unadjusted) prices in active markets for identical assets or liabilities. Level 2 - Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the asset or liability. We obtain fair values for our Level 2 investments. Our custody bank and asset managers independently use professional pricing services to gather pricing data which may include quoted market prices for identical or comparable financial instruments, or inputs other than quoted prices that are observable either directly or indirectly, and we are ultimately responsible for these underlying estimates. Level 3 - Unobservable inputs to the valuation methodology that are supported by little or no market activity and that are significant to the measurement of the fair value of the assets or liabilities. Level 3 assets and liabilities include those whose fair value measurements are determined using pricing models, discounted cash flow methodologies or similar valuation techniques, as well as significant management judgment or estimation. Cash and Cash Equivalents We consider currency on hand, demand deposits, time deposits, and all highly liquid investments with an original maturity of three months or less at the date of purchase to be cash and cash equivalents. Cash and cash equivalents are held in various financial institutions in the U.S. and internationally. Restricted Cash The restricted cash primarily consists of funds reserved for legal requirements. Restricted cash balances are primarily included in other assets within our Consolidated Balance Sheets. Marketable Securities Our marketable securities consist of marketable debt securities which are classified as available-for-sale and are carried at fair value. Our fixed-income securities investment portfolio allows for investments with a maximum effective maturity of up to 40 months on any individual security. Marketable securities classified as current assets have maturities within one year from the balance sheet date. Unrealized gains or losses on such securities are included in accumulated other comprehensive income (loss), net (“AOCI”) in stockholders’ equity. Realized gains and losses from sales and maturities of all such securities are reported in earnings and computed using the specific identification cost method. All of our marketable securities are subject to a periodic impairment review. We evaluate if an allowance for credit loss is necessary by considering available information relevant to the collectibility of the security and information about credit rating changes, past events, current conditions, and reasonable and supportable forecasts. Any allowance for credit loss is recorded as a charge to other income (expense), net, in our Consolidated Statement of Operations. If we have an intent to sell, or if it is more likely than not that we will be required to sell the security in an unrealized loss position before recovery of its amortized cost basis, we will write down the security to its fair value and record the corresponding charge as a component of other income (expense), net in our Consolidated Statement of Operations. Variable Interest Entities We evaluate whether an entity in which we have made an investment is considered a variable interest entity (“VIE”). If we determine we are the primary beneficiary of a VIE, we would consolidate the VIE into our financial statements. In determining if we are the primary beneficiary, we evaluate whether we have the power to direct the activities that most significantly impact the VIE’s economic performance and the obligation to absorb losses or the right to receive benefits of the VIE that could potentially be significant to the VIE. Our evaluation includes identification of significant activities and an assessment of our ability to direct those activities based on governance provisions and arrangements to provide or receive product and process technology, product supply, operations services, equity funding, financing, and other applicable agreements and circumstances. Our assessments of whether we are the primary beneficiary of a VIE require significant assumptions and judgments. We have concluded that we are not the primary beneficiary of our VIE investments; therefore, we do not consolidate their results into our consolidated financial statements. Investments in Privately Held Companies Our investments in privately held companies in which we cannot exercise significant influence and do not own a majority equity interest or otherwise control are accounted for under the measurement alternative. Under the measurement alternative, the carrying value of our equity investment is adjusted to fair value for observable transactions for identical or similar investments of the same issuer. Investments in equity securities are reported on our Consolidated Balance Sheet as other assets, and we periodically evaluate them for impairment. We record any change in carrying value of our equity securities, in other income (expense), net in our Consolidated Statement of Operations. The carrying value of our equity investments in privately held companies without readily determinable fair values were not material as of December 31, 2022 or 2021 and the associated adjustments to the carrying values of the investments were not material during the year ended December 31, 2022, 2021 and 2020. Derivative Financial Instruments We enter into foreign currency forward contracts to minimize the short-term impact of foreign currency exchange rate fluctuations associated with certain assets and liabilities. These forward contracts are not designated as hedging instruments. The gains and losses on these forward contracts are intended to offset the gains and losses in the underlying foreign currency denominated monetary assets and liabilities being economically hedged. We do not enter into foreign currency forward contracts for trading or speculative purposes. The net gain or loss from the settlement of these foreign currency forward contracts is recorded in other income (expense), net in the Consolidated Statement of Operations. Foreign Currency For our international subsidiaries, we analyze on an annual basis or more often if necessary, if a significant change in facts and circumstances indicate that the functional currency has changed. For international subsidiaries where the local currency is the functional currency, adjustments from translating financial statements from the local currency to the U.S. dollar reporting currency are recorded as a separate component of AOCI in the stockholders’ equity section of the Consolidated Balance Sheet. This foreign currency translation adjustment reflects the translation of the balance sheet at period end exchange rates, and the income statement at the transaction date or average exchange rate in effect during the period. The foreign currency revaluation that are derived from monetary assets and liabilities stated in a currency other than functional currency are included in other income (expense), net. For the year ended December 31, 2022, 2021 and 2020, we had foreign currency net gains (losses) of $(43.8) million, $(13.3) million and $6.8 million, respectively. Certain Risks and Uncertainties We are subject to risks including, but not limited to, global and regional economic market conditions, inflation, fluctuations in foreign currency exchange rates, changes in consumer confidence and demand, increased competition, dependence on key personnel, protection and litigation of proprietary technology, shifts in taxable income between tax jurisdictions and compliance with regulations of the U.S. Food and Drug Administration (“FDA”) and similar international agencies. Further, our operations globally have been impacted by the COVID-19 pandemic. Although its impact has been gradually declining, we continue to be exposed to risks and uncertainties posed by it which varies by geographic regions at different levels. The extent to which our business could be impacted in the future by the pandemic is highly uncertain and difficult to predict. Our cash and investments are held primarily by five financial institutions. Financial instruments which potentially expose us to concentrations of credit risk consist primarily of cash equivalents and marketable securities. We invest excess cash primarily in money market funds, corporate bonds, asset-backed securities, municipal bonds and U.S. government agency bonds and treasury bonds and periodically evaluate them for credit losses. Such credit losses have not been material to our financial statements. We purchase certain inventory from sole suppliers. Additionally, we rely on a limited number of hardware manufacturers. The inability of any supplier or manufacturer to fulfill our supply requirements could materially and adversely impact our future operating results. Accounts Receivable, net Trade accounts receivable are recorded at the invoiced amount. Accounts receivable, net includes allowances for doubtful accounts for any potentially uncollectible amounts. We periodically assess the adequacy of the allowance for doubtful accounts by reviewing the accounts receivable on a collective basis by considering factors such as aging of the receivables and customers’ expected ability to pay, and on an individual basis for specific customers with known disputes or collectability issues. In determining the amount of the allowance for doubtful accounts, we also evaluate the creditworthiness of customers, current market conditions and forecasts of future economic conditions to make any adjustments. Actual write-offs have not materially differed from the estimated allowances. No individual customer accounted for 10% or more of our accounts receivable at December 31, 2022 or 2021 or net revenues for the year ended December 31, 2022, 2021 or 2020. In 2022, we entered into factoring transactions on a non-recourse basis with financial institutions to sell certain of our non-U.S. accounts receivable. We account for these transactions as sales of accounts receivables and include the cash proceeds as a part of our cash flows from operations in the Consolidated Statements of Cash Flows. Total accounts receivable sold under the factoring arrangements was $37.0 million during the year ended December 31, 2022. Factoring fees on the sales of receivables were recorded in other income (expense), net in our Consolidated Statement of Operations and were not material. Inventories Inventories are valued at the lower of cost or net realizable value, with cost computed using standard cost which approximates actual cost on a first-in-first-out basis. Excess and obsolete inventories are determined primarily based on future demand forecasts, and write-downs of excess and obsolete inventories are recorded as a component of cost of net revenues. Property, Plant and Equipment, net Property, plant and equipment, net are stated at historical cost less accumulated depreciation and amortization. Depreciation and amortization are computed using the straight-line method over the estimated useful lives of the assets. Construction in progress is related to the construction or development of property (including land) and equipment that have not yet been placed in service for their intended use. Upon sale or retirement, the asset’s cost and related accumulated depreciation are removed from the balance sheet and any related gains or losses are reflected in income from operations. Maintenance and repairs are expensed as incurred. Refer to Note 3 “Balance Sheet Components" of the Notes of Consolidated Financial Statements for details on estimated useful lives. Leases - Lessee We determine if an arrangement is a lease at inception. Leases with a term of 12 months or less are not recorded on the balance sheet. Right-of-use (“ROU”) assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. We use our incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments as the rate implicit in our leases is not readily determinable. We determine lease terms as the noncancellable period of the lease and may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. We have lease agreements with lease and non-lease components which are accounted for as a single lease component. Payments under our lease arrangements are primarily fixed; however, certain lease agreements contain variable payments which are expensed as incurred and not included in the operating lease ROU assets and liabilities. Business Combinations We allocate the fair value of the purchase consideration to the assets acquired and liabilities assumed based on their estimated fair values at the acquisition date. When determining the fair value of assets acquired and liabilities assumed, management is required to make certain estimates and assumptions, especially with respect to intangible assets. The estimates and assumptions used in valuing intangible assets include, but are not limited to, the amount and timing of projected future cash flows including forecasted revenues, the discount rate used to determine the present value of these cash flows, and the determination of the assets’ life cycle. Amounts recorded in a business combination may change during the measurement period, which is a period not to exceed one year from the date of acquisition, as additional information about conditions existing at the acquisition date becomes available. Goodwill and Finite-Lived Acquired Intangible Assets Goodwill represents the excess of the purchase price paid over the fair value of tangible and identifiable intangible net assets acquired in business combinations and is allocated to the respective reporting units based on relative synergies generated. Our intangible assets primarily consist of intangible assets acquired as part of our acquisitions. These assets are amortized using the straight-line method over their estimated useful lives ranging from two to fifteen years reflecting the period in which the economic benefits of the assets are expected to be realized. Impairment of Goodwill and Long-Lived Assets Goodwill We evaluate goodwill for impairment at least annually on November 30th or more frequently if indicators are present, an event occurs or changes in circumstances suggest an impairment may exist and that it would more likely than not reduce the fair value of a reporting unit below its carrying amount. The allocation of goodwill to the respective reporting unit is based on relative synergies generated as a result of an acquisition. We perform an initial assessment of qualitative factors to determine whether the existence of events and circumstances leads to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. In performing the qualitative assessment, we identify and consider the significance of relevant key factors, events, and circumstances that affect the fair value of our reporting units. These factors include external factors such as macroeconomic, industry, and market conditions, as well as entity-specific factors, such as our actual and planned financial performance. We also give consideration to the difference between the reporting unit fair value and carrying value as of the most recent date a fair value measurement was performed. If, after assessing the totality of relevant events and circumstances, we determine that it is more likely than not that the fair value of the reporting unit exceeds its carrying value and there is no indication of impairment, no further testing is performed; however, if we conclude otherwise, then we will perform the quantitative impairment test which compares the estimated fair value of the reporting unit to its carrying value, including goodwill. If the carrying amount of the reporting unit is in excess of its fair value, an impairment loss would be recorded in the Consolidated Statement of Operations. Long-Lived Assets We evaluate long-lived assets (including finite-lived intangible assets) for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable. An asset or asset group is considered impaired if its carrying amount exceeds the future undiscounted net cash flows that the asset or asset group is expected to generate. Factors we consider important which could trigger an impairment review include significant negative industry or economic trends, significant loss of customers and changes in the competitive environment. If an asset or asset group is considered to be impaired, the impairment to be recognized is calculated as the amount by which the carrying amount of the asset or asset group exceeds its fair market value. Our estimates of future cash flows attributable to our long-lived assets require significant judgment based on our historical and anticipated results and are subject to many assumptions. The estimation of fair value utilizing a discounted cash flow approach includes numerous uncertainties which require our significant judgment when making assumptions of expected growth rates and the selection of discount rates, as well as assumptions regarding general economic and business conditions, and the structure that would yield the highest economic value, among other factors. Refer to Note 5 “Goodwill and Intangible Assets” of Notes to Consolidated Financial Statements for details on intangible long-lived assets. Development Costs for Internal Use Software Internally developed software includes enterprise-level business software that we customize to meet our specific operational needs. Such capitalized costs include external direct costs utilized in developing or obtaining the applications and payroll and payroll-related costs for employees, who are directly associated with the development of the applications. There were no significant internally developed software costs capitalized in 2022 or 2021. Development Costs for Software to be Marketed The costs to develop software that is marketed externally have not been capitalized as we believe our current software development process is essentially completed concurrent with the establishment of technological feasibility. As such, all related software development costs are expensed as incurred and included in research and development expense in our Consolidated Statement of Operations. Product Warranty We offer assurance warranties on our products which provide the customer assurance that the product will function as the parties intended because it complies with agreed-upon specifications; therefore, warranties are not treated as a separate revenue performance obligation and are accounted for as guarantees under GAAP. Clear Aligner We warrant our Invisalign products against material defects until the treatment plan is complete except in the case of retainers, which are warranted up to three months from expected first use. We accrue for warranty costs, which are primarily based on historical experience as to product failures as well as current information on replacement costs. Systems and Services We warrant our intraoral scanners for a period of one year, which includes materials and labor. We accrue for these warranty costs based on average historical repair costs. An extended warranty may be purchased for additional fees. We warrant our CAD/CAM software for a one year period to perform in accordance with agreed product specifications. As we have not historically incurred any material warranty costs, we do not accrue for these software warranties. Warranty costs are recorded in cost of net revenues upon shipment of products. We regularly review our warranty liability and update these balances based on historical warranty cost trends. Actual warranty costs incurred have not materially differed from those accrued; however future actual warranty costs could differ from the estimated amounts. Revenue Recognition Our revenues are derived primarily from the sale of aligners, scanners, and services from our Clear Aligner and Systems and Services segments. We enter into sales contracts that may consist of multiple distinct performance obligations where certain performance obligations of the sales contract are not delivered in one reporting period. We measure and allocate revenues according to ASC 606-10, “Revenues from Contracts with Customers.” We identify a performance obligation as distinct if both of the following criteria are met: the customer can benefit from the good or service either on its own or together with other resources that are readily available to the customer and the entity’s promise to transfer the good or service to the customer is separately identifiable from other promises in the contract. Determining the standalone selling price (“SSP”) in order to allocate consideration from the contract to the individual performance obligations is the result of various factors, such as changing trends and market conditions, historical prices, costs, and gross margins. While changes in the allocation of the SSP between performance obligations will not affect the amount of total revenues recognized for a particular contract, any material changes could impact the timing of revenue recognition, which would have a material effect on our financial position and result of operations. This is because the contract consideration is allocated to each performance obligation, delivered or undelivered, at the inception of the contract based on the SSP of each distinct performance obligation. Clear Aligner We enter into contracts (“treatment plan(s)”) that involve multiple future performance obligations. Invisalign Comprehensive, Invisalign First, Invisalign Moderate, Invisalign Go, Invisalign Go Plus, and Lite and Express Packages include optional additional aligners at no charge for a certain period of time ranging from six months to five years after initial shipment. Our treatment plans comprise the following performance obligations that also represent distinct deliverables: initial aligners, the option of additional aligners, case refinement, and replacement aligners. We take the practical expedient to consider shipping and handling costs as activities to fulfill the performance obligation. Where processing fees are charged, the consideration received from the fees are included in the total consideration. We allocate revenues for each treatment plan based on each unit’s standalone selling price. Management considers a variety of factors such as same or similar product historical sales, costs, and gross margin, which may vary over time depending upon the unique facts and circumstances related to each performance obligation in making these estimates. In addition to historical data, we take into consideration changing trends and market conditions. For treatment plans with multiple future options, we also consider usage rates, which is the number of times a customer is expected to order additional aligners. Our process for estimating usage rates requires significant judgment and evaluation of inputs, including historical usage data by region, country and channel. We recognize the revenues upon shipment, as the customers obtain physical possession and we have enforceable rights to payment. As we collect most consideration upfront, we consider whether a significant financing component exists; however, as the delivery of the performance obligations are at the customer’s discretion, we conclude that no significant financing component exists. Systems and Services We sell intraoral scanners and CAD/CAM services through both our direct sales force and distribution partners. The intraoral scanner sales price includes one year of warranty and unlimited scanning services. The customer may also select, for additional fees, extended warranty and unlimited scanning services for periods beyond the initial year. When intraoral scanners are sold with an unlimited scanning service agreement and/or extended warranty, we allocate revenues based on the respective SSP of the scanner and the subscription service. We estimate the SSP of each element, taking into account factors such as same or similar historical prices and discounting strategies. Revenues are then recognized over time as the monthly services are rendered and upon shipment of the scanner, as that is when we deem the customer to have obtained control. We also have a rental program, where scanners are leased to customers. The contracts for the program are treated as operating leases, and the revenue is recognized ratably over the lease term. CAD/CAM services, where sold separately, include the initial software license and maintenance and support. We allocate revenues based upon the respective SSPs of the software license and the maintenance and support. We estimate the SSP of each element using data such as historical prices. Revenues related to the software license are recognized upfront and revenues related to the maintenance and support are recognized over time. For both scanner and service sales, most consideration is collected upfront and in cases where there are payment plans, consideration is collected within one year and, therefore, there are no significant financing components. Volume Discounts In certain situations, we offer promotions in which the discount will increase depending upon the volume purchased over time. We concluded that in these situations, the promotions can represent either variable consideration or options, depending upon the specifics of the promotion. In the event the promotion contains an option, the option is considered a material right and, therefore, included in the accounting for the initial arrangement. We estimate the average anticipated discount over the lifetime of the promotion or contract, and apply that discount to each unit as it is sold. On a quarterly basis, we review our estimates and, if needed, updates are made and changes are applied prospectively. Accrued Sales Return Reserve We provide a reserve for sales returns based on historical sales returns as a percentage of revenues. Costs to Obtain a Contract We offer a variety of commission plans to our salesforce; each plan has multiple components. To match the costs to obtain a contract to the associated revenues, we evaluate the individual components and capitalize the eligible components, recognizing the costs over the treatment period. The costs to obtain contracts were $27.4 million and $31.1 million as of December 31, 2022 and 2021, respectively, and are included in other assets in our Consolidated Balance Sheets. We recognized amortization on our costs to obtain a contract of $20.8 million, $17.0 million, and $10.1 million during the year ended December 31, 2022, 2021, and 2020, respectively, which is included in selling, general and administrative expenses in our Consolidated Statements of Operations. Unfulfilled Performance Obligations for Clear Aligners and Scanners Our unfulfilled performance obligations, including deferred revenues and backlog, as of December 31, 2022 and the estimated revenues expected to be recognized in the future related to these performance obligations are $1,515.4 million. This includes performance obligations from the Clear Aligner segment, primarily the shipment of additional aligners, which are fulfilled over six months to five years. This also includes the performance obligations from the Systems and Services segment, primarily services and support, which are fulfilled over one to five years, and contracted deliveries of additional scanners. The estimate includes both product and service unfulfilled performance obligations and the time range reflects our best estimate of when we will transfer control to the customer and may change based on customer usage patterns, timing of shipments, readiness of customers' facilities for installation, and manufacturing availability. Contract Balances The timing of revenue recognition results in deferred revenues being recognized on our Consolidated Balance Sheet. For both aligners and scanners, we usually collect the total consideration owed prior to all performance obligations being performed with payment terms generally varying from net 30 to net 180 days. Contract liabilities are recorded as deferred revenue balances, which are generated based upon timing of invoices and recognition patterns, not payments. If the revenue recognition exceeds the billing, the exceeded amount is considered unbilled receivable and a contract asset. Conversely, if the billing occurs prior to the revenue recognition, the amount is considered deferred revenue and a contract liability. Shipping and Handling Costs Shipping and handling charges to customers as well as processing fees are included in net revenues, and the associated costs incurred are recorded in cost of net revenues. Legal Proceedings and Litigations We are involved in legal proceedings on an ongoing basis. If we believe that a loss arising from such matters is probable and can be reasonably estimated, we accrue the estimated loss in our consolidated financial statements. If only a range of estimated losses can be determined, we accrue an amount within the range that, in our judgment, reflects the most likely outcome; if none of the estimates within that range is a better estimate than any other amount, we accrue the low end of the range. Research and Development Research and development costs are expensed as incurred and includes the costs associated with the research and development of new products and enhancements to existing products. These costs primarily include personnel-related costs, including payroll and stock-based compensation, equipment, material and maintenance costs, outside consulting expenses, depreciation and amortization expense and allocations of corporate overhead expenses including facilities and information technology (“IT”). Advertising Costs The cost of advertising and media is expensed as incurred. For the year ended December 31, 2022, 2021 and 2020, we incurred advertising costs of $222.0 million, $325.6 million and $161.0 million, respectively. Stock-Based Compensation We recognize stock-based compensation cost for shares expected to vest on a straight-line basis over the requisite service period of the award, net of estimated forfeitures. We use the Black-Scholes option pricing model to determine the fair value of employee stock purchase plan shares. We use a Monte Carlo simulation model to estimate the fair value of market-performance based restricted stock units which requires the input of assumptions, including expected term, stock price volatility and the risk-free rate of return. For restricted stock units which vest based on performance conditions, we use the stock price on the grant date to estimate the fair value and stock-based compensation cost is recorded based on expected attainment of performance targets. Forfeitures are estimated based on historical experience at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. Income Taxes We make certain estimates and judgments in determining income tax expense for financial statement purposes. These estimates and judgments occur in the calculation of certain tax assets and liabilities, which arise from differences in the timing of recognition of revenues and expenses for tax and financial statement purposes. As part of the process of preparing our consolidated financial statements, we are required to estimate our income taxes in each of the jurisdictions in which we operate. This process involves us estimating our current tax exposure under the applicable tax laws and assessing temporary differences resulting from differing treatment of items for tax and accounting purposes. These differences result in deferred tax assets and liabilities which are included in our Consolidated Balance Sheets. We account for uncertainty in income taxes pursuant to authoritative guidance based on a two-step approach to recognize and measure uncertain tax positions taken or expected to be taken in a tax return. The first step is to determine if the weight of available evidence indicates that it is more likely than not that the tax position will be sustained on audit based on its technical merits, including resolution of any related appeals or litigation processes. The second step is to measure the tax benefit as the largest amount that is more than 50% likely to be realized upon ultimate settlement. We adjust reserves for our uncertain tax positions due to changing facts and circumstances, such as the closing of a tax audit or refinement of estimates due to new information. To the extent that the final outcome of these matters is different than the amounts recorded, such differences will impact our tax provision in our Consolidated Statement of Operations in the period in which such determination is made. We assess the likelihood that we will be able to realize our deferred tax assets. Should there be a change in our ability to realize our deferred tax assets, our tax provision would increase in the period in which we determine that it is more likely than not that we cannot realize our deferred tax assets. We consider all available evidence, both positive and negative, including historical levels of income, expectations and risks associated with estimates of future taxable income and ongoing prudent and feasible tax planning strategies in assessing the need for a valuation allowance. If it is more likely than not that we will not realize our deferred tax assets, we will increase our provision for taxes by recording a valuation allowance against the deferred tax assets that we estimate will not ultimately be realizable. During fiscal 2020, we completed an intra-entity transfer of certain intellectual property rights and fixed assets to our Swiss subsidiary, which resulted in the recognition of deferred tax assets and related tax benefits. Refer to Note 12 “Income Taxes” of Notes to Consolidated Financial Statements for more information. The establishment of deferred tax assets from the intra-entity transfer of intangible assets required us to make significant estimates and assumptions to determine the fair value of intellectual property rights transferred which include, but are not limited to, our expectations of growth rates in revenue, margins, future cash flows, and discount rates. The accuracy of these estimates could be affected by unforeseen events or actual results, and the sustainability of our future tax benefits is dependent upon the acceptance of these valuation estimates and assumptions by the taxing authorities. The U.S. Tax Cuts and Jobs Act includes provisions for certain foreign-sourced earnings referred to as Global Intangible Low-Taxed Income (“GILTI”) which imposes a tax on foreign income in excess of a deemed return on tangible assets of foreign corporations. We have made the election to record GILTI tax using the period cost method. Common Stock Repurchase We repurchase our own common stock from time to time under stock repurchase programs approved by our Board of Directors. We account for these repurchases under the accounting guidance for equity where we allocate the total repurchase value that is in excess over par value between additional paid-in capital and retained earnings. All shares repurchased are retired. Recent Accounting Pronouncements (i) New Accounting Updates Recently Adopted In October 2021, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update 2021-08, “Business Combinations (Topic 805) Accounting for Contract Assets and Contract Liabilities from Contracts with Customers,” which requires contract assets and contract liabilities acquired in a business combination to be recognized and measured in accordance with ASC 606, Revenue from Contracts with Customers as if the acquirer had originated the contracts. The updated guidance is effective for fiscal years and interim periods within those years beginning after December 15, 2022 on a prospective basis and early adoption is permitted. We early adopted this standard during 2022 which did not have a material impact on our consolidated financial statements and related disclosures. (ii) Recent Accounting Pronouncements Not Yet Effective We continue to monitor new accounting pronouncements issued by the FASB and do not believe any of the recently issued accounting pronouncements will have a material impact on our consolidated financial statements or related disclosures.

Leases - Components of lease expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Operating lease cost	$ 37,919	$ 33,241	$ 27,825
Variable lease cost 2	22,084	11,134	1,429
Total lease cost	$ 60,003	$ 44,375	$ 29,254

Cover - USD ($) $ in Billions	12 Months Ended
Cover - USD ($) $ in Billions	Dec. 31, 2022	Feb. 20, 2023	Jun. 30, 2022
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	000-32259
Entity Registrant Name	ALIGN TECHNOLOGY, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	94-3267295
Entity Address, Address Line One	410 North Scottsdale Road, Suite 1300
Entity Address, State or Province	AZ
Entity Address, City or Town	Tempe
Entity Address, Postal Zip Code	85288
City Area Code	(602)
Local Phone Number	742-2000
Title of 12(b) Security	Common Stock, $0.0001 par value
Trading Symbol	ALGN
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 13.3
Entity Common Stock, Shares Outstanding (shares)		76,610,319
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Entity Central Index Key	0001097149
Documents Incorporated by Reference	Portions of the registrant’s definitive Proxy Statement relating to its 2023 Annual Stockholders’ Meeting to be filed pursuant to Regulation 14A within 120 days after the registrant’s fiscal year end of December 31, 2022 are incorporated by reference into Part III of this Annual Report on Form 10-K.

Leases - Lease payments due (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Leases [Abstract]
2023	$ 15,714
2024	13,967
2025	6,202
Total lease payments	$ 35,883

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 942,050	$ 1,099,370
Marketable securities, short-term	57,534	71,972
Accounts receivable, net of allowance for doubtful accounts of $10,343 and $9,245, respectively	859,685	897,198
Inventories	338,752	230,230
Prepaid expenses and other current assets	226,370	195,305
Total current assets	2,424,391	2,494,075
Marketable securities, long-term	41,978	125,320
Property, plant and equipment, net	1,231,855	1,081,926
Operating lease right-of-use assets, net	118,880	121,257
Goodwill	407,551	418,547
Intangible assets, net	95,720	109,709
Deferred tax assets	1,571,746	1,533,767
Other assets	55,826	57,509
Total assets	5,947,947	5,942,110
Current liabilities:
Accounts payable	127,870	163,886
Accrued liabilities	454,374	607,315
Deferred revenues	1,343,643	1,152,870
Total current liabilities	1,925,887	1,924,071
Accrued Income Taxes, Noncurrent	124,393	118,072
Operating lease liabilities	100,334	102,656
Other long-term liabilities	195,975	174,597
Total liabilities	2,346,589	2,319,396
Commitments and contingencies (Notes 7 and 8)
Stockholders’ equity:
Preferred stock, $0.0001 par value (5,000 shares authorized; none issued)	0	0
Common stock, $0.0001 par value (200,000 shares authorized; 77,267 and 78,710 issued and outstanding, respectively)	8	8
Additional paid-in capital	1,044,946	999,006
Accumulated other comprehensive income (loss), net	(10,284)	4,326
Retained earnings	2,566,688	2,619,374
Total stockholders’ equity	3,601,358	3,622,714
Total liabilities and stockholders’ equity	$ 5,947,947	$ 5,942,110

Balance Sheet Components - Inventories (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Balance Sheet Related Disclosures [Abstract]
Raw materials	$ 172,758	$ 123,234
Finished goods	96,558	51,706
Work in progress	69,436	55,290
Total inventories	$ 338,752	$ 230,230

Restructuring and Other Charges

12 Months Ended

Dec. 31, 2022

Restructuring and Related Activities [Abstract]

Restructuring and Other Charges

Restructuring Activities

During the fourth quarter of 2022, we initiated a restructuring plan to increase efficiencies across the organization which is expected to be completed in the first half of 2023. We incurred approximately $10.2 million in restructuring expenses, of which $2.9 million was recorded in Cost of net revenues and $7.3 million was recorded in Restructuring and other charges.

Activity related to the restructuring liabilities associated with our restructuring initiatives consist of the following (in thousands):


	Severance and related costs		Impairment Charges		Total
Restructuring charges	$	8,723	$	1,453	$	10,176
Cash payments	(4,807)		—		(4,807)
Non-cash charges	—		(1,453)		(1,453)
Balance as of December 31, 2022 1	$	3,916	$	—	$	3,916

1 Included in “Accrued liabilities” within our Consolidated Balance Sheet.

Other Charges

In addition to the restructuring charges, during the fourth quarter of 2022, we also incurred certain lease termination costs of $2.3 million and asset impairments of $1.8 million which were also recorded in Restructuring and other charges.

Leases - Property, plant and equipment under operating leases (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Scanners under operating leases, gross	$ 22,914	$ 10,927
Less: accumulated depreciation	(3,919)	(785)
Scanners under operating leases, net	$ 18,995	$ 10,142

Stockholders' Equity - ESPP Activity (Details) - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Stockholders' Equity Note [Abstract]
Number of shares issued (in thousands)	86	131	116
Weighted average price (usd per share)	$ 305.24	$ 195.44	$ 175.69

Goodwill and Intangible Assets - Total Estimated Annual Future Amortization Expense for the Acquired Intangible Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
2023	$ 16,501
2024	15,335
2025	14,959
2026	14,353
2027	11,992
Thereafter	24,492
Total	$ 97,632	$ 106,556

Net Income per Share - Computation of Basic and Diluted Net Profit Per Share Attributable to Common Stock (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Numerator:
Net income	$ 361,573	$ 772,020	$ 1,775,888
Denominator:
Weighted-average common shares outstanding, basic (shares)	78,190	78,917	78,760
Dilutive effect of potential common stock (shares)	230	753	470
Total shares, diluted (shares)	78,420	79,670	79,230
Net income per share, basic (usd per share)	$ 4.62	$ 9.78	$ 22.55
Net income per share, diluted (usd per share)	$ 4.61	$ 9.69	$ 22.41
Anti-dilutive potential common shares (shares)	320	1	280

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

+ Details

Legal Proceedings (Details)	Jan. 31, 2019 claim
Shareholder Derivative Lawsuit
Contingencies [Line Items]
Loss contingency, number of claims	3

Goodwill and Intangible Assets - Intangible Assets (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 157,262	$ 183,242
Accumulated Amortization	(51,180)	(57,428)
Accumulated Impairment Loss	(8,450)	(19,258)
Total	97,632	106,556
Foreign currency translation adjustments	(1,912)	3,153
Total	95,720	$ 109,709
Intangible assets, fully amortized	$ 33,500
Existing technology
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives of intangibles	10 years	10 years
Gross Carrying Amount	$ 112,051	$ 104,531
Accumulated Amortization	(33,537)	(22,495)
Accumulated Impairment Loss	(4,328)	(4,328)
Total	$ 74,186	$ 77,708
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives of intangibles	10 years	11 years
Gross Carrying Amount	$ 21,500	$ 55,000
Accumulated Amortization	(5,913)	(25,891)
Accumulated Impairment Loss	0	(10,751)
Total	$ 15,587	$ 18,358
Trademarks and tradenames
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives of intangibles	10 years	10 years
Gross Carrying Amount	$ 17,200	$ 17,200
Accumulated Amortization	(6,442)	(4,547)
Accumulated Impairment Loss	(4,122)	(4,179)
Total	$ 6,636	$ 8,474
Patents
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives of intangibles	8 years	8 years
Gross Carrying Amount	$ 6,511	$ 6,511
Accumulated Amortization	(5,288)	(4,495)
Accumulated Impairment Loss	0	0
Total	$ 1,223	$ 2,016

Financial Instruments - Derivative Financial Instruments (Details) - Level 2 - Prepaid expenses and other current assets: - Foreign Exchange Forward € in Thousands, ₪ in Thousands, ¥ in Thousands, ¥ in Thousands, £ in Thousands, zł in Thousands, SFr in Thousands, R$ in Thousands, Kč in Thousands, $ in Thousands, $ in Thousands, $ in Thousands, $ in Thousands, $ in Thousands, $ in Thousands	Dec. 31, 2022 USD ($)	Dec. 31, 2022 EUR (€)	Dec. 31, 2022 PLN (zł)	Dec. 31, 2022 CAD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 GBP (£)	Dec. 31, 2022 JPY (¥)	Dec. 31, 2022 ILS (₪)	Dec. 31, 2022 CHF (SFr)	Dec. 31, 2022 BRL (R$)	Dec. 31, 2022 MXN ($)	Dec. 31, 2022 NZD ($)	Dec. 31, 2022 AUD ($)	Dec. 31, 2022 CZK (Kč)	Dec. 31, 2022 TWD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2021 EUR (€)	Dec. 31, 2021 PLN (zł)	Dec. 31, 2021 CAD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2021 GBP (£)	Dec. 31, 2021 JPY (¥)	Dec. 31, 2021 ILS (₪)	Dec. 31, 2021 CHF (SFr)	Dec. 31, 2021 BRL (R$)	Dec. 31, 2021 MXN ($)	Dec. 31, 2021 AUD ($)
Derivative [Line Items]
Notional amount	$ 637,015															$ 590,170
Euro
Derivative [Line Items]
Notional amount	200,010	€ 186,900														186,358	€ 165,110
Polish Zloty
Derivative [Line Items]
Notional amount	83,307		zł 365,988													54,014		zł 219,800
Canadian Dollar
Derivative [Line Items]
Notional amount	80,514			$ 109,000												78,018			$ 99,800
Chinese Yuan
Derivative [Line Items]
Notional amount	68,223				¥ 471,000											77,358				¥ 494,500
British Pound
Derivative [Line Items]
Notional amount	49,677					£ 41,200										46,881					£ 34,740
Japanese Yen
Derivative [Line Items]
Notional amount	47,196						¥ 6,200,000									48,206						¥ 5,548,700
Israeli Shekel
Derivative [Line Items]
Notional amount	31,383							₪ 110,030								17,416							₪ 54,110
Swiss Franc
Derivative [Line Items]
Notional amount	27,165								SFr 25,000							10,883								SFr 9,950
Brazilian Real
Derivative [Line Items]
Notional amount	26,839									R$ 141,200						50,894									R$ 286,500
Mexican Peso
Derivative [Line Items]
Notional amount	11,746										$ 230,000					15,133										$ 311,500
New Zealand Dollar
Derivative [Line Items]
Notional amount	3,806											$ 6,000
Australian Dollar
Derivative [Line Items]
Notional amount	2,721												$ 4,000			$ 5,009											$ 6,900
Czech Koruna
Derivative [Line Items]
Notional amount	2,469													Kč 56,000
Taiwan, New Dollars
Derivative [Line Items]
Notional amount	$ 1,959														$ 60,000

Supplemental Cash Flow Information (Tables)

12 Months Ended

Dec. 31, 2022

Supplemental Cash Flow Information [Abstract]

Schedule of Cash Flow, Supplemental Disclosures

The supplemental cash flow information consists of the following (in thousands):


	Year Ended December 31,
	2022		2021		2020
Taxes paid	$	231,884	$	203,309	$	76,332
Non-cash investing and financing activities:
Acquisition of property, plant and equipment in accounts payable and accrued liabilities	$	35,767	$	64,135	$	37,267
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	31,015	$	29,769	$	26,022
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	34,144	$	68,463	$	47,981

Credit Facility	12 Months Ended
Credit Facility	Dec. 31, 2022
Debt Disclosure [Abstract]
Credit Facility	Credit FacilityWe have a credit facility that provides for a $300.0 million unsecured revolving line of credit, along with a $50.0 million letter of credit. On December 23, 2022, we amended certain provisions in our credit facility which included extending the maturity date on the facility to December 23, 2027 and replacing the interest rate from the existing LIBOR with SOFR (“2022 Credit Facility”). The 2022 Credit Facility requires us to comply with specific financial conditions and performance requirements. Loans under the 2022 Credit Facility bear interest, at our option, at either a rate based on the SOFR for the applicable interest period or a base rate, in each case plus a margin. As of December 31, 2022, we had no outstanding borrowings under the 2022 Credit Facility and were in compliance with the conditions and performance requirements in all material respects.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-URI https://asc.fasb.org/topic&trid=2208564

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (h)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (g)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1E
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495348-112611

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (i)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

+ Details

Credit Facility (Details) - 2020 Credit Facility	Dec. 31, 2022 USD ($)
Line of Credit Facility [Line Items]
Line of credit, available borrowings	$ 300,000,000
Outstanding borrowings	0
Letter of Credit
Line of Credit Facility [Line Items]
Line of credit, available borrowings	$ 50,000,000

- Definition

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

Segments and Geographical Information - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2022 segment
Segment Reporting [Abstract]
Number of reportable segments	2

Common Stock Repurchase Programs - Additional Information (Detail) - USD ($) $ / shares in Units, shares in Millions		12 Months Ended
	Feb. 03, 2023	Dec. 31, 2022	Dec. 31, 2021	Jan. 31, 2023	May 31, 2021	May 31, 2018
Share Repurchases [Line Items]
Common stock repurchased and retired		$ 435,036,000	$ 375,038,000
May 2018 Repurchase Program
Share Repurchases [Line Items]
Repurchase of common stock, authorized						$ 600,000,000
May 2021 Repurchase Program
Share Repurchases [Line Items]
Repurchase of common stock, authorized					$ 1,000,000,000
Authorized repurchase amount remaining		$ 249,900,000
Common stock repurchased and retired (shares)		0.1
Cost per share (in dollars per share)		$ 522.61
Common stock repurchased and retired		$ 75,000,000
May 2021 Repurchase Program \| Subsequent Event
Share Repurchases [Line Items]
Common stock repurchased and retired (shares)	0.6
January 2023 Repurchase Program \| Subsequent Event
Share Repurchases [Line Items]
Repurchase of common stock, authorized				$ 1,000,000,000

Restructuring and Other Charges - Additional Information (Details) $ in Thousands	3 Months Ended
	Dec. 31, 2022 USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	$ 10,176
Lease termination costs	2,300
Asset impairment charges	1,800
Cost of net revenues
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	2,900
Restructuring and other charges
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	$ 7,300

Leases (Tables)

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Components of lease expense

The components of lease expenses consist of following (in thousands):


	Year Ended December 31,
Lease Cost	2022		2021		2020
Operating lease cost 1	$	37,919	$	33,241	$	27,825
Variable lease cost 2	22,084		11,134		1,429
Total lease cost	$	60,003	$	44,375	$	29,254

1 Includes expense associated with short term leases of less than 12 months which is not material

Summary of operating lease terms and discount rates

The following table provides a summary of our operating lease terms and discount rates:


	December 31,
Remaining Lease Term and Discount Rate	2022		2021

Weighted average remaining lease term (in years)	7.2		7.8


Weighted average discount rate	3.5	%	3.2	%

Schedule of operating lease liabilities

As of December 31, 2022, the future payments related to our operating lease liabilities are as follows (in thousands):


Fiscal Year Ending December 31,	Operating Leases
2023	$	30,596
2024	24,606
2025	19,480
2026	16,511
2027	13,363
Thereafter	39,449
Total lease payments	144,005
Less: Imputed interest	(17,097)
Total lease liabilities	$	126,908

Schedule of property, plant and equipment under operating leases

We lease iTero intraoral scanners to customers which are classified as operating leases. Our portfolio of leased iTero scanners included in Property, plant and equipment, net are as follows:


	December 31,
	2022		2021
Scanners under operating leases, gross	$	22,914	$	10,927
Less: accumulated depreciation	(3,919)		(785)
Scanners under operating leases, net	$	18,995	$	10,142

Schedule of lease payments due

As of December 31, 2022, the future lease payments due to us are as follows (in thousands):


Fiscal Year Ending December 31,	Operating Leases
2023	$	15,714
2024	13,967
2025	6,202



Total lease payments	$	35,883

Financial Instruments - Narrative (Details) $ in Thousands		12 Months Ended
Financial Instruments - Narrative (Details) $ in Thousands	Mar. 12, 2021 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Apr. 01, 2020 EUR (€)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amount awarded	$ 43,400
Settlement gain		$ 0	$ 43,403	$ 0
Foreign Exchange Forward
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net gain (loss) on derivative		$ 0	$ 18,800	(22,100)
Forward Contracts \| exocad Acquisition
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net gain (loss) on derivative				$ (10,200)
Notional amount \| €					€ 376,000,000

Leases - Schedule of operating lease liabilities (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Leases [Abstract]
2023	$ 30,596
2024	24,606
2025	19,480
2026	16,511
2027	13,363
Thereafter	39,449
Total lease payments	144,005
Less: Imputed interest	(17,097)
Total lease liabilities	$ 126,908

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 361,573	$ 772,020	$ 1,775,888
Adjustments to reconcile net income to net cash provided by operating activities:
Deferred taxes	(39,495)	15,455	(1,491,577)
Depreciation and amortization	125,793	108,729	93,538
Stock-based compensation	133,367	114,336	98,427
Non-cash operating lease cost	30,520	26,807	22,467
Arbitration award gain	0	(43,403)	0
Other non-cash operating activities	41,288	24,363	33,743
Changes in assets and liabilities, net of effects of acquisitions:
Accounts receivable	21,549	(262,066)	(139,777)
Inventories	(130,097)	(112,450)	(29,110)
Prepaid expenses and other assets	(65,514)	(124,626)	(21,130)
Accounts payable	(36,523)	19,747	52,206
Accrued and other long-term liabilities	(121,942)	158,543	42,168
Long-term income tax payable	6,327	12,449	(2,802)
Deferred revenues	241,886	462,640	228,133
Net cash provided by operating activities	568,732	1,172,544	662,174
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisitions, net of cash acquired	(12,304)	(8,002)	(420,788)
Purchase of property, plant and equipment	(291,900)	(401,098)	(154,916)
Purchase of marketable securities	(28,002)	(200,928)	(5,341)
Proceeds from maturities of marketable securities	23,785	498	42,641
Proceeds from sales of marketable securities	97,316	3,114	278,817
Repayment on unsecured promissory note	0	4,594	26,925
Proceeds from arbitration award	0	43,403	0
Other investing activities	(2,211)	(5,011)	1,156
Net cash used in investing activities	(213,316)	(563,430)	(231,506)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common stock	26,149	25,623	20,314
Common stock repurchases	(435,036)	(375,038)	0
Payment for equity forward contract related to accelerated stock repurchase agreement	(40,000)	0	0
Payroll taxes paid upon the vesting of equity awards	(52,799)	(108,917)	(51,122)
Net cash used in financing activities	(501,686)	(458,332)	(30,808)
Effect of foreign exchange rate changes on cash, cash equivalents, and restricted cash	(11,514)	(12,117)	10,480
Net (decrease) increase in cash, cash equivalents, and restricted cash	(157,784)	138,665	410,340
Cash, cash equivalents, and restricted cash at beginning of year	1,100,139	961,474	551,134
Cash, cash equivalents, and restricted cash at end of the period	$ 942,355	$ 1,100,139	$ 961,474

Schedule II: Valuation and Qualifying Accounts and Reserves (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Allowance for doubtful accounts:
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	$ 9,245	$ 10,239	$ 6,756
Additions (Reductions) to Costs and Expenses	4,102	2,814	12,073
Write Offs	(3,004)	(3,808)	(8,590)
Balance at End of Period	10,343	9,245	10,239
Valuation allowance for deferred tax assets:
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	12,938	1,325	1,086
Additions (Reductions) to Costs and Expenses	10,348	11,613	239
Write Offs	0	0	0
Balance at End of Period	$ 23,286	$ 12,938	$ 1,325

Stockholders' Equity - Weighted Average Assumptions Used for the Fair Value of the Option Component of the Purchase Plan Shares Estimated at Grant Date Using Black-Scholes Option Pricing Model (Detail) - Employee Stock Purchase Plan - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	1 year 6 months	1 year 1 month 6 days	1 year
Expected volatility	50.20%	52.70%	55.00%
Risk-free interest rate	1.80%	0.10%	0.90%
Expected dividends	0.00%	0.00%	0.00%
Weighted average fair value at grant date (usd per share)	$ 159.44	$ 246.84	$ 96.94

Balance Sheet Components (Tables)

12 Months Ended

Dec. 31, 2022

Balance Sheet Related Disclosures [Abstract]

Schedule of Inventories

Inventories consist of the following (in thousands):


	December 31,
	2022		2021
Raw materials	$	172,758	$	123,234
Work in progress	96,558		51,706
Finished goods	69,436		55,290
Total inventories	$	338,752	$	230,230

Schedule of Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consist of the following (in thousands):


	December 31,
	2022		2021
Value added tax receivables	$	140,484	$	93,610
Prepaid expenses	69,124		70,218
Other current assets	16,762		31,477
Total prepaid expenses and other current assets	$	226,370	$	195,305

Property, Plant and Equipment

Property, plant and equipment consist of the following (in thousands):


		December 31,
	Generally Used Estimated Useful Life	2022		2021
Clinical and manufacturing equipment	Up to 10 years	$	583,776	$	452,876
Building	20 years	466,003		310,344
Leasehold improvements	Lease term 1	64,238		61,289
Computer software and hardware	3 years	120,544		117,986
Land	—	58,885		58,869
Furniture, fixtures and other	2-5 years	102,933		71,977
Construction in progress	—	285,202		367,686
Total		1,681,581		1,441,027
Less: Accumulated depreciation and impairment charges		(449,726)		(359,101)
Total property, plant and equipment, net		$	1,231,855	$	1,081,926

1 Shorter of the remaining lease term or the estimated useful lives of the assets

Schedule of Accrued Liabilities

Accrued liabilities consist of the following (in thousands):


	December 31,
	2022		2021
Accrued payroll and benefits	$	149,508	$	288,355
Accrued income taxes	74,323		33,838
Accrued expenses	64,341		67,169
Accrued sales and marketing expenses	36,407		41,387
Current operating lease liabilities	26,574		22,719
Accrued property, plant and equipment	19,922		46,561

Other accrued liabilities	83,299		107,286
Total accrued liabilities	$	454,374	$	607,315

Warranty accrual


Accrued warranty as of December 31, 2020	$	12,615
Charged to cost of net revenues	18,213

Actual warranty expenditures	(14,659)
Accrued warranty as of December 31, 2021	16,169
Charged to cost of net revenues	16,429
Actual warranty expenditures	(14,725)
Accrued warranty as of December 31, 2022	$	17,873

Deferred Revenues

Deferred revenues consist of the following (in thousands):


	December 31,
	2022		2021
Deferred revenues - current	$	1,343,643	$	1,152,870
Deferred revenues - long-term 1	160,662		136,684

1 Included in Other long-term liabilities within our Consolidated Balance Sheet

Income Taxes - Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Deferred tax assets:
Net operating loss and capital loss carryforwards	$ 15,380	$ 11,069
Reserves and accruals	32,759	47,641
Stock-based compensation	19,469	13,576
Deferred revenue	117,039	83,514
Capitalized research & development	54,293	413
Amortizable tax basis in intangibles	1,350,434	1,392,471
Other	16,645	15,645
Total deferred tax assets, gross	1,606,019	1,564,329
Valuation allowance	(23,286)	(12,938)
Total deferred tax assets	1,582,733	1,551,391
Deferred tax liabilities:
Depreciation and amortization	11,407	12,328
Acquisition-related intangibles	26,008	28,989
Other	3,438	6,931
Total deferred tax liabilities, gross	40,853	48,248
Net deferred tax assets	$ 1,541,880	$ 1,503,143

Balance Sheet Components - Warranty Accrual Activity (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Movement in Standard Product Warranty Accrual [Roll Forward]
Balance at beginning of period	$ 16,169	$ 12,615
Charged to cost of revenues	16,429	18,213
Actual warranty expenditures	(14,725)	(14,659)
Balance at end of period	$ 17,873	$ 16,169

Common Stock Repurchase Programs (Tables)

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

Accelerated Stock Repurchases

The following table summarizes the information regarding repurchases of our common stock under ASRs:



Agreement Date	Repurchase Program	Amount Paid (in millions)		Completion Date	Total Shares Received	Average Price per Share

Q2 2021	May 2018	$	100.0	Q3 2021	171,322	$	583.70
Q2 2021	May 2021	$	100.0	Q3 2021	161,707	$	618.40
Q3 2021	May 2021	$	75.0	Q3 2021	109,239	$	686.91
Q4 2021	May 2021	$	100.0	Q4 2021	150,031	$	666.53
Q2 2022	May 2021	$	200.0	Q2 2022	756,502	$	264.37
Q4 2022	May 2021	$	200.0	N/A1	848,266	$	188.62

Stockholders' Equity - Summary of MSU Performance (Detail) - Market Performance Based Restricted Stock Units - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022
Number of Shares
Nonvested beginning balance (shares)	174,000
Granted (shares)	101,000
Vested and released (shares)	(128,259)
Forfeited (shares)	(3,000)
Nonvested ending balance (shares)	144,000
Nonvested, beginning balance (usd per share)	$ 551.57
Weighted average grant date fair value of awards granted (usd per share)	607.96
Vested and released (usd per share)	396.10
Forfeited (usd per share)	744.39
Nonvested, ending balance (usd per share)	$ 725.73
Weighted Average Remaining Contractual Term
Unvested	1 year
Aggregate Intrinsic Value
Unvested	$ 30,384

Employee Benefit Plans	12 Months Ended
Employee Benefit Plans	Dec. 31, 2022
Compensation Related Costs [Abstract]
Employee Benefit Plans	Employee Benefit PlansWe have defined contribution retirement plan under Section 401(k) of the Internal Revenue Code for our U.S. employees which covers substantially all U.S. employees who meet minimum age and service requirements and allows participants to defer a portion of their annual compensation on a pre-tax basis. We match 50% of our employee’s salary deferral contributions up to 6% of the employee’s eligible compensation. We contributed approximately $10.0 million, $8.5 million and $6.9 million to the 401(k) plan during the year ended December 31, 2022, 2021 and 2020, respectively. We also have defined contribution retirement plans outside of the U.S. to which we contributed $54.5 million, $42.3 million and $28.9 million during the year ended December 31, 2022, 2021 and 2020, respectively.

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2022
Audit Information [Abstract]
Auditor Name	PricewaterhouseCoopers LLP
Auditor Location	San Jose, California
Auditor Firm ID	238

Stockholders' Equity - Stock-Based Compensation (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 133,367	$ 114,336	$ 98,427
Cost of net revenues
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	6,438	5,633	4,719
Selling, general and administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	103,134	90,659	78,500
Research and development
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 23,795	$ 18,044	$ 15,208

Income Taxes - Domestic and Foreign Components of Income (loss) Before Provision for Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Domestic	$ 268,097	$ 378,478	$ 173,099
Foreign	330,960	633,945	205,850
Net income before provision for (benefit from) income taxes	$ 599,057	$ 1,012,423	$ 378,949

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2022

Stock-based Compensation Expense

The stock-based compensation related to our stock-based awards and employee stock purchase plan for the year ended December 31, 2022, 2021 and 2020 is as follows (in thousands):


	Year Ended December 31,
	2022		2021		2020
Cost of net revenues	$	6,438	$	5,633	$	4,719
Selling, general and administrative	103,134		90,659		78,500

Research and development	23,795		18,044		15,208
Total stock-based compensation	$	133,367	$	114,336	$	98,427

Fair value assumptions using the Monte Carlo simulation

The weighted average assumptions used in the Monte Carlo simulation were as follows:


	Year Ended December 31,
	2022			2021			2020
Expected term (in years)	3.0			3.0			3.0
Expected volatility	53.8		%	56.3		%	44.4		%
Risk-free interest rate	1.7		%	0.2		%	1.4		%
Expected dividends	—			—			—
Weighted average fair value per share at grant date	$	915.22		$	1,102.09		$	392.67

Schedule of ESPP share activity

The following table summarizes the ESPP shares issued:


	Year Ended December 31,
	2022		2021		2020
Number of shares issued (in thousands)	86		131		116
Weighted average price	$	305.24	$	195.44	$	175.69

Weighted Average Assumptions Used for the Fair Value of Options Component of Purchase Plan Granted Estimated at Grant Date

The fair value of the option component of the 2010 Purchase Plan shares was estimated at the grant date using the Black-Scholes option pricing model with the following weighted average assumptions:


	Year Ended December 31,
	2022			2021			2020
Expected term (in years)	1.5			1.1			1.0
Expected volatility	50.2		%	52.7		%	55.0		%
Risk-free interest rate	1.8		%	0.1		%	0.9		%
Expected dividends	—			—			—
Weighted average fair value at grant date	$	159.44		$	246.84		$	96.94

Restricted Stock Units (RSUs)

Summary of Nonvested Shares

A summary for the year ended December 31, 2022 is as follows:


	Number of Shares Underlying RSUs (in thousands)	Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in thousands)








Unvested as of December 31, 2021	492	$	369.17
Granted	248	469.12
Vested and released	(200)	333.76
Forfeited	(51)	437.05
Unvested as of December 31, 2022	489	$	427.23	1.2	$	103,138

Market Performance Based Restricted Stock Units

Summary of Nonvested Shares

The following table summarizes the MSU performance activity for the year ended December 31, 2022:


	Number of Shares Underlying MSUs (in thousands)	Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in thousands)




Unvested as of December 31, 2021	174	$	551.57
Granted 1	101	607.96
Vested and released	(128)	396.10
Forfeited	(3)	744.39
Unvested as of December 31, 2022	144	$	725.73	1.0	$	30,384

1 Includes MSUs vested during the period above 100% of the grant as actual shares released is based on our stock performance over the vesting period

Commitments and Contingencies (Details) - Purchase Agreement - USD ($) $ in Millions	Dec. 31, 2022	Dec. 09, 2022	Jun. 24, 2021	Oct. 30, 2020
Supplier One
Other Commitments [Line Items]
Purchase commitment	$ 23.8			$ 95.2
Supplier Two
Other Commitments [Line Items]
Purchase commitment	85.8
Supplier Three
Other Commitments [Line Items]
Purchase commitment			$ 348.0
Supplier Four
Other Commitments [Line Items]
Purchase commitment	$ 60.0
Supplier Five
Other Commitments [Line Items]
Purchase commitment		$ 145.0

Balance Sheet Components - Accrued Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Balance Sheet Related Disclosures [Abstract]
Accrued payroll and benefits	$ 149,508	$ 288,355
Accrued income taxes	74,323	33,838
Accrued expenses	64,341	67,169
Accrued sales and marketing expenses	36,407	41,387
Current operating lease liabilities	26,574	22,719
Accrued property, plant and equipment	19,922	46,561
Other accrued liabilities	83,299	107,286
Total accrued liabilities	$ 454,374	$ 607,315
Current operating lease liabilities location	Total accrued liabilities	Total accrued liabilities

Income Taxes

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Income Taxes

Net income before provision for (benefit from) income taxes consists of the following (in thousands):


	Year Ended December 31,
	2022		2021		2020
Domestic	$	268,097	$	378,478	$	173,099
Foreign	330,960		633,945		205,850
Net income before provision for (benefit from) income taxes	$	599,057	$	1,012,423	$	378,949

The provision for (benefit from) income taxes consists of the following (in thousands):


	Year Ended December 31,
	2022		2021		2020
Federal
Current	$	188,050	$	157,383	$	55,291
Deferred	(55,579)		(25,598)		(11,749)
	132,471		131,785		43,542
State
Current	34,621		28,365		8,862
Deferred	(12,265)		(5,860)		(2,121)
	22,356		22,505		6,741
Foreign
Current	56,537		42,681		29,399
Deferred	26,120		43,432		(1,476,621)
	82,657		86,113		(1,447,222)
Provision for (benefit from) income taxes	$	237,484	$	240,403	$	(1,396,939)

The differences between income taxes using the federal statutory income tax rate for 2022, 2021 and 2020 and our effective tax rates are as follows:


	Year Ended December 31,
	2022		2021		2020
U.S. federal statutory income tax rate	21.0	%	21.0	%	21.0	%
State income taxes, net of federal tax benefit	3.7		2.2		1.5
U.S. tax on foreign earnings	5.6		2.5		(1.2)
Impact of differences in foreign tax rates	3.3		(2.0)		5.6
Stock-based compensation	2.1		(0.3)		1.1

Impact of intra-entity intellectual property rights transfer	—		—		(395.6)
Settlement on audits	1.9		—		(1.4)

Change in valuation allowance	1.7		1.1		0.1
Other items not individually material	0.3		(0.8)		0.3
Effective tax rate	39.6	%	23.7	%	(368.6)	%

We intend to continue reinvesting our foreign subsidiary earnings indefinitely and do not expect any additional costs that we may incur upon repatriation of these foreign earnings to be significant.

During the year ended December 31, 2020, we completed an intra-entity transfer of certain intellectual property rights and fixed assets to our new Swiss subsidiary, where our EMEA regional headquarters is located beginning January 1, 2020. The transfer of intellectual property rights did not result in a taxable gain; however, it did result in a step-up of the Swiss tax deductible basis in the transferred assets, and accordingly, created a temporary difference between the book basis and the tax basis of such intellectual property rights. Consequently, this transaction resulted in the recognition of a deferred tax asset and related one-time tax benefit of approximately $1,493.5 million during the year ended December 31, 2020, which is the net impact of the deferred tax asset recognized as a result of the additional Swiss tax deductible basis in the transferred assets and certain costs related to the transfer of fixed assets and inventory.

As of December 31, 2022 and 2021, the significant components of our deferred tax assets and liabilities are (in thousands):


	December 31,
	2022		2021
Deferred tax assets:
Net operating loss and capital loss carryforwards	$	15,380	$	11,069
Reserves and accruals	32,759		47,641
Stock-based compensation	19,469		13,576
Deferred revenue	117,039		83,514
Capitalized research & development	54,293		413
Amortizable tax basis in intangibles	1,350,434		1,392,471


Other	16,645		15,645
Deferred tax assets before valuation allowance	1,606,019		1,564,329
Valuation allowance	(23,286)		(12,938)
Total deferred tax assets	1,582,733		1,551,391

Deferred tax liabilities:
Depreciation and amortization	11,407		12,328
Acquisition-related intangibles	26,008		28,989
Other	3,438		6,931
Total deferred tax liabilities	40,853		48,248
Net deferred tax assets	1,541,880		1,503,143

The available positive evidence at December 31, 2022 included historical operating profits and a projection of future income sufficient to realize most of our remaining deferred tax assets. As of December 31, 2022, it was considered more likely

than not that our deferred tax assets would be realized with the exception of certain net operating loss, capital loss carryovers and unrealized translation losses as we are unable to forecast sufficient future profits to realize the deferred tax assets. The total valuation allowance as of December 31, 2022 was $23.3 million. During the year ended December 31, 2022, the valuation allowance increased by $10.3 million primarily due to deferred tax assets related to unrealized translation losses and net operating loss from one of our German subsidiaries and the deferred tax assets from our Russian commercial entity are not more likely than not to be realized.

As of December 31, 2022, we have foreign net operating loss carryforwards of approximately $48.2 million, attributed mainly to losses in China, Italy and Germany. The losses in Italy and Germany can be carried forward indefinitely. The operating loss carryforwards in China, if not utilized, will expire beginning 2026.

The changes in the balance of gross unrecognized tax benefits, which exclude interest and penalties, for the year ended December 31, 2022, 2021 and 2020, are as follows (in thousands):


	Year Ended December 31,
	2022		2021		2020
Gross unrecognized tax benefits at January 1,	$	63,295	$	46,320	$	46,650
Increases related to tax positions taken during the current year	84,249		27,710		20,592

Increases related to tax positions taken during a prior year	15,411		5,471		10,201
Decreases related to tax positions taken during a prior year	(2,647)		(5,804)		(29,977)
Decreases related to expiration of statute of limitations	(4,582)		(8,986)		—
Decreases related to settlement with tax authorities	(14,166)		(1,416)		(1,146)
Gross unrecognized tax benefits at December 31,	$	141,560	$	63,295	$	46,320

The total amount of gross unrecognized tax benefits as of December 31, 2022 was $141.6 million, of which $134.3 million would impact our effective tax rate if recognized.

We file U.S. federal, U.S. state, and non-U.S. income tax returns. Our major tax jurisdictions include U.S. federal, the State of California and Switzerland. For U.S. federal and state tax returns, we are no longer subject to tax examinations for years before 2017 and 2015, respectively. Our Israeli subsidiary was under tax audit for years 2016 through 2019. During the fourth quarter of 2022, we settled the audit with the Israel Tax Authority in connection with a 2016 transaction to which our Israeli subsidiary was a party. As a result, we are no longer subject to tax examinations for years through 2021 in Israel. With few exceptions, we are no longer subject to examination by other foreign tax authorities for years before 2015.

We have elected to recognize interest and penalties related to unrecognized tax benefits as a component of income taxes. Interest and penalties included in tax expense for the year ended December 31, 2022, 2021 and 2020 as well as accrued as of December 31, 2022 and 2021 were not material. While we defend income tax audits in various jurisdictions and the results of such audits may differ materially from the amounts accrued for each year, we cannot currently ascertain the bases on which any given audit will be ultimately resolved. Accordingly, we are unable to estimate the range of possible adjustments to our balance of gross unrecognized tax benefits in the next 12 months.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Financial Instruments - Fair Value Measured On A Recurring Basis (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Marketable securities, short-term	$ 57,534	$ 71,972
Marketable securities, long-term	41,978	125,320
Assets measured at fair value	328,641	545,701
Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Assets measured at fair value	249,139	385,938
Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Assets measured at fair value	79,502	159,763
Money market funds \| Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Cash equivalents	229,129	343,010
Money market funds \| Fair Value, Measurements, Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Cash equivalents	229,129	343,010
Money market funds \| Fair Value, Measurements, Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Cash equivalents	0	0
Corporate bonds \| Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Cash equivalents		1,042
Marketable securities, short-term	36,510	35,065
Marketable securities, long-term	29,965	79,011
Corporate bonds \| Fair Value, Measurements, Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Cash equivalents		0
Marketable securities, short-term	0	0
Marketable securities, long-term	0	0
Corporate bonds \| Fair Value, Measurements, Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Cash equivalents		1,042
Marketable securities, short-term	36,510	35,065
Marketable securities, long-term	29,965	79,011
Municipal bonds \| Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Cash equivalents		516
Marketable securities, short-term	2,711	3,657
Marketable securities, long-term	675	3,440
Municipal bonds \| Fair Value, Measurements, Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Cash equivalents		0
Marketable securities, short-term	0	0
Marketable securities, long-term	0	0
Municipal bonds \| Fair Value, Measurements, Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Cash equivalents		516
Marketable securities, short-term	2,711	3,657
Marketable securities, long-term	675	3,440
U.S. government treasury bonds \| Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Marketable securities, short-term	15,404	22,251
Marketable securities, long-term	4,606	20,677
U.S. government treasury bonds \| Fair Value, Measurements, Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Marketable securities, short-term	15,404	22,251
Marketable securities, long-term	4,606	20,677
U.S. government treasury bonds \| Fair Value, Measurements, Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Marketable securities, short-term	0	0
Marketable securities, long-term	0	0
Asset-backed securities \| Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Marketable securities, short-term	2,909	10,999
Marketable securities, long-term	1,569	20,992
Asset-backed securities \| Fair Value, Measurements, Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Marketable securities, short-term	0	0
Marketable securities, long-term	0	0
Asset-backed securities \| Fair Value, Measurements, Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Marketable securities, short-term	2,909	10,999
Marketable securities, long-term	1,569	20,992
U.S. government agency bonds \| Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Marketable securities, long-term	5,163	1,200
U.S. government agency bonds \| Fair Value, Measurements, Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Marketable securities, long-term	0	0
U.S. government agency bonds \| Fair Value, Measurements, Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Marketable securities, long-term	$ 5,163	1,200
Israeli funds \| Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Israeli funds		3,841
Israeli funds \| Fair Value, Measurements, Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Israeli funds		0
Israeli funds \| Fair Value, Measurements, Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Israeli funds		$ 3,841

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2019
Income Taxes [Line Items]
Increase in deferred tax assets, intra-entity transfer of intellectual property rights and fixed assets		$ 1,493,500
Deferred tax assets, valuation allowance	$ 23,286		$ 12,938
Increase in valuation allowance	10,300
Unrecognized tax benefits	141,560	$ 46,320	$ 63,295	$ 46,650
Unrecognized tax benefits that would impact effective tax rate	134,300
Foreign Country
Income Taxes [Line Items]
Net operating loss carryforwards	$ 48,200

Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2022

Investments, All Other Investments [Abstract]

Cash and Cash Equivalents

The following tables summarize our cash and cash equivalents, and marketable securities on our Consolidated Balance Sheet as of December 31, 2022 and 2021 (in thousands):


									Reported as:
December 31, 2022	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Cash and Cash Equivalents		Marketable securities, short-term		Marketable securities, long-term
Cash	$	712,921	$	—	$	—	$	712,921	$	712,921	$	—	$	—
Money market funds	229,129		—		—		229,129		229,129		—		—
Corporate bonds	69,390		—		(2,915)		66,475		—		36,510		29,965
U.S. government treasury bonds	20,559		—		(549)		20,010		—		15,404		4,606
Asset-backed securities	4,514		1		(37)		4,478		—		2,909		1,569
Municipal bonds	3,447		—		(61)		3,386		—		2,711		675
U.S. government agency bonds	5,231		1		(69)		5,163		—		—		5,163

Total	$	1,045,191	$	2	$	(3,631)	$	1,041,562	$	942,050	$	57,534	$	41,978


									Reported as:
December 31, 2021	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Cash and Cash Equivalents		Marketable securities, short-term		Marketable securities, long-term
Cash	$	754,802	$	—	$	—	$	754,802	$	754,802	$	—	$	—
Money market funds	343,012		—		(2)		343,010		343,010		—		—
Corporate bonds	115,507		9		(398)		115,118		1,042		35,065		79,011
U.S. government treasury bonds	42,976		—		(48)		42,928		—		22,251		20,677
Asset-backed securities	32,031		—		(40)		31,991		—		10,999		20,992
Municipal bonds	7,628		—		(15)		7,613		516		3,657		3,440
U.S. government agency bonds	1,201		—		(1)		1,200		—		—		1,200

Total	$	1,297,157	$	9	$	(504)	$	1,296,662	$	1,099,370	$	71,972	$	125,320

Marketable Securities

The following tables summarize our cash and cash equivalents, and marketable securities on our Consolidated Balance Sheet as of December 31, 2022 and 2021 (in thousands):


									Reported as:
December 31, 2022	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Cash and Cash Equivalents		Marketable securities, short-term		Marketable securities, long-term
Cash	$	712,921	$	—	$	—	$	712,921	$	712,921	$	—	$	—
Money market funds	229,129		—		—		229,129		229,129		—		—
Corporate bonds	69,390		—		(2,915)		66,475		—		36,510		29,965
U.S. government treasury bonds	20,559		—		(549)		20,010		—		15,404		4,606
Asset-backed securities	4,514		1		(37)		4,478		—		2,909		1,569
Municipal bonds	3,447		—		(61)		3,386		—		2,711		675
U.S. government agency bonds	5,231		1		(69)		5,163		—		—		5,163

Total	$	1,045,191	$	2	$	(3,631)	$	1,041,562	$	942,050	$	57,534	$	41,978


									Reported as:
December 31, 2021	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Cash and Cash Equivalents		Marketable securities, short-term		Marketable securities, long-term
Cash	$	754,802	$	—	$	—	$	754,802	$	754,802	$	—	$	—
Money market funds	343,012		—		(2)		343,010		343,010		—		—
Corporate bonds	115,507		9		(398)		115,118		1,042		35,065		79,011
U.S. government treasury bonds	42,976		—		(48)		42,928		—		22,251		20,677
Asset-backed securities	32,031		—		(40)		31,991		—		10,999		20,992
Municipal bonds	7,628		—		(15)		7,613		516		3,657		3,440
U.S. government agency bonds	1,201		—		(1)		1,200		—		—		1,200

Total	$	1,297,157	$	9	$	(504)	$	1,296,662	$	1,099,370	$	71,972	$	125,320

Contractual Maturity of Marketable Securities

The following table summarizes the fair value of our available-for-sale marketable securities classified by contractual maturity as of December 31, 2022 and 2021 (in thousands):


	December 31,
	2022		2021
Due in 1 year or less	$	51,037	$	59,737
Due in 1 year through 5 years	48,475		139,113
Total	$	99,512	$	198,850

Unrealized Losses for Investments in a Continuous Unrealized Loss Position


	As of December 31, 2022
	Less than 12 months				12 Months of Greater				Total
December 31, 2022	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss			Fair Value		Unrealized Loss
Corporate bonds	$	10,639	$	(440)	$	54,634	$	(2,475)		$	65,273	$	(2,915)
U.S. government treasury bonds	5,262		(177)		14,748		(372)			20,010		(549)
Asset-backed securities	2,636		(17)		1,275		(20)			3,911		(37)
Municipal bonds	—		—		2,412		(61)			2,412		(61)
U.S. government agency bonds	3,017		(5)		1,136		(64)			4,153		(69)

Total	$	21,554	$	(639)	$	74,205	$	(2,992)		$	95,759	$	(3,631)

Financial Assets Measured At Fair Value On A Recurring Basis

The following tables summarize our financial assets measured at fair value as of December 31, 2022 and 2021 (in thousands):


Description	Balance as of December 31, 2022		Level 1		Level 2
Cash equivalents:
Money market funds	$	229,129	$	229,129	$	—


Short-term investments:
U.S. government treasury bonds	15,404		15,404		—
Corporate bonds	36,510		—		36,510
Municipal bonds	2,711		—		2,711

Asset-backed securities	2,909		—		2,909
Long-term investments:
U.S. government treasury bonds	4,606		4,606		—
Corporate bonds	29,965		—		29,965
Municipal bonds	675		—		675
U.S. government agency bonds	5,163		—		5,163
Asset-backed securities	1,569		—		1,569




	$	328,641	$	249,139	$	79,502


Description	Balance as of December 31, 2021		Level 1		Level 2
Cash equivalents:
Money market funds	$	343,010	$	343,010	$	—
Corporate bonds	1,042		—		1,042
Municipal bonds	516		—		516
Short-term investments:
U.S. government treasury bonds	22,251		22,251		—
Corporate bonds	35,065		—		35,065
Municipal bonds	3,657		—		3,657
Asset-backed securities	10,999		—		10,999
Long-term investments:
U.S. government treasury bonds	20,677		20,677		—
Corporate bonds	79,011		—		79,011
Municipal bonds	3,440		—		3,440
U.S. government agency bonds	1,200		—		1,200
Asset-backed securities	20,992		—		20,992
Prepaid expenses and other current assets:
Israeli funds	3,841		—		3,841


	$	545,701	$	385,938	$	159,763

Schedule of Notional Amounts of Outstanding Derivative Positions

The following tables presents the gross notional value of all our foreign exchange forward contracts outstanding as of December 31, 2022 and 2021 (in thousands):


	December 31, 2022
	Local Currency Amount	Notional Contract Amount (USD)
Euro	€186,900	$	200,010
Polish Zloty	PLN365,988	83,307
Canadian Dollar	C$109,000	80,514
Chinese Yuan	¥471,000	68,223
British Pound	£41,200	49,677
Japanese Yen	¥6,200,000	47,196
Israeli Shekel	ILS110,030	31,383
Swiss Franc	CHF25,000	27,165
Brazilian Real	R$141,200	26,839
Mexican Peso	M$230,000	11,746
New Zealand Dollar	NZ$6,000	3,806
Australian Dollar	A$4,000	2,721
Czech Koruna	Kč56,000	2,469
New Taiwan Dollar	NT$60,000	1,959
		$	637,015


	December 31, 2021
	Local Currency Amount	Notional Contract Amount (USD)
Euro	€165,110	$	186,358
Canadian Dollar	C$99,800	78,018
Chinese Yuan	¥494,500	77,358
Polish Zloty	PLN219,800	54,014
Brazilian Real	R$286,500	50,894
Japanese Yen	¥5,548,700	48,206
British Pound	£34,740	46,881
Israeli Shekel	ILS54,110	17,416
Mexican Peso	M$311,500	15,133
Swiss Franc	CHF9,950	10,883
Australian Dollar	A$6,900	5,009
		$	590,170

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 361,573	$ 772,020	$ 1,775,888
Other comprehensive income (loss):
Net change in foreign currency translation adjustment	(11,480)	(38,680)	44,383
Change in unrealized gains (losses) on investments, net of tax	(3,130)	(495)	(194)
Other comprehensive income (loss)	(14,610)	(39,175)	44,189
Comprehensive income	$ 346,963	$ 732,845	$ 1,820,077

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Stockholders' Equity - Summary of Nonvested Shares (Detail) - Restricted Stock Units (RSUs) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Shares Underlying RSUs
Nonvested beginning balance (shares)	492,000
Granted (shares)	248,000
Vested and released (shares)	(199,832)
Forfeited (shares)	(51,000)
Nonvested ending balance (shares)	489,000	492,000
Nonvested, beginning balance (usd per share)	$ 369.17
Weighted average grant date fair value of awards granted (usd per share)	469.12	$ 600.10	$ 267.24
Vested and released (usd per share)	333.76
Forfeited (usd per share)	437.05
Nonvested, ending balance (usd per share)	$ 427.23	$ 369.17
Weighted Remaining Vesting Period (in years)
Unvested as of December 31, 2019	1 year 2 months 12 days
Aggregate Intrinsic Value
Unvested	$ 103,138

Balance Sheet Components - Deferred Revenues (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Balance Sheet Related Disclosures [Abstract]
Deferred revenues, current	$ 1,343,643	$ 1,152,870
Deferred revenues, long-term	160,662	136,684
Net revenues	3,734,635	3,952,584	$ 2,471,941
Revenue recognized, included in the deferred revenues in prior period	$ 635,300	$ 481,100

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
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-Publisher FASB
-Name Accounting Standards Codification
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-Publisher FASB
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-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130545-203045

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+ Details

Financial Instruments - Contractual Maturity of Marketable Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Investments, All Other Investments [Abstract]
Due in 1 year or less	$ 51,037	$ 59,737
Due in 1 year through 5 years	48,475	139,113
Total	$ 99,512	$ 198,850

Leases - Summary of operating lease terms and discount rates (Details)	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Weighted average remaining lease term (in years)	7 years 2 months 12 days	7 years 9 months 18 days
Weighted average discount rate	3.50%	3.20%