0001097149-24-000011 | 10-K | XBRL Viewer

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Stockholders' Equity - ESPP Activity (Details) - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Stockholders' Equity Note [Abstract]
Number of shares issued (in thousands)	114,000	86	131
Weighted average price (usd per share)	$ 234.19	$ 305.24	$ 195.44

Balance Sheet Components - Warranty Accrual Activity (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Movement in Standard Product Warranty Accrual [Roll Forward]
Balance at beginning of period	$ 17,873	$ 16,169
Charged to cost of revenues	18,248	16,429
Actual warranty expenditures	(13,695)	(14,725)
Balance at end of period	$ 22,426	$ 17,873

Balance Sheet Components

12 Months Ended

Dec. 31, 2023

Balance Sheet Related Disclosures [Abstract]

Balance Sheet Components

Inventories consist of the following (in thousands):


	December 31,
	2023		2022
Raw materials	$	145,492	$	172,758
Work in progress	91,259		96,558
Finished goods	60,151		69,436
Total inventories	$	296,902	$	338,752

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


	December 31,
	2023		2022
Value added tax receivables	$	143,728	$	140,484
Prepaid expenses	52,487		69,124
Other current assets	77,335		16,762
Total prepaid expenses and other current assets	$	273,550	$	226,370

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


		December 31,
	Generally Used Estimated Useful Life	2023		2022
Clinical and manufacturing equipment	Up to 13 years	$	703,805	$	583,776
Building	20 years	517,554		466,003
Leasehold improvements	Lease term 1	62,216		64,238
Computer software and hardware	3 years	125,633		120,544
Land	—	63,875		58,885
Furniture, fixtures and other	2-5 years	122,820		102,933
Construction in progress	—	245,722		285,202
Total		1,841,625		1,681,581
Less: Accumulated depreciation and impairment charges		(550,762)		(449,726)
Total property, plant and equipment, net		$	1,290,863	$	1,231,855

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

Depreciation was $126.0 million, $109.8 million and $92.1 million for the year ended December 31, 2023, 2022 and 2021, respectively.

Accrued liabilities consist of the following (in thousands):


	December 31,
	2023		2022
Accrued payroll and benefits	$	220,862	$	149,508
Accrued expenses	71,109		64,341
Accrued income taxes	38,103		74,323
Accrued sales and marketing expenses	34,035		36,407
Current operating lease liabilities	29,651		26,574
Accrued property, plant and equipment	23,618		19,922

Other accrued liabilities	108,402		83,299
Total accrued liabilities	$	525,780	$	454,374

Accrued warranty as of December 31, 2023 and 2022, which is included in the “Other accrued liabilities” category in the accrued liabilities table above, consists of the following activity (in thousands):


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
Charged to cost of net revenues	18,248
Actual warranty expenditures	(13,695)
Accrued warranty as of December 31, 2023	$	22,426

Deferred revenues consist of the following (in thousands):


	December 31,
	2023		2022
Deferred revenues - current	$	1,427,706	$	1,343,643
Deferred revenues - long-term 1	138,000		160,662

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

During the year ended December 31, 2023 and 2022, we recognized $3,862.3 million and $3,734.6 million of net revenues, respectively, of which $732.4 million and $635.3 million was included in the deferred revenues balance at December 31, 2022 and December 31, 2021, respectively.

Balance Sheet Components - Inventories (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Balance Sheet Related Disclosures [Abstract]
Raw materials	$ 145,492	$ 172,758
Finished goods	91,259	96,558
Work in progress	60,151	69,436
Total inventories	$ 296,902	$ 338,752

Segments and Geographical Information - Long-Lived Assets by Geographic Area (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived assets	$ 1,408,862	$ 1,350,735
Switzerland
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived assets	575,432	532,921
U.S.
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived assets	210,275	214,804
Other International
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived assets	$ 623,155	$ 603,010

Balance Sheet Components - Property and Equipment (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment, Net [Abstract]
Property and equipment	$ 1,841,625	$ 1,681,581
Less: Accumulated depreciation and impairment charges	(550,762)	(449,726)
Total property, plant and equipment, net	1,290,863	1,231,855
Depreciation	126,000	109,800	$ 92,100
Clinical and manufacturing equipment
Property, Plant and Equipment, Net [Abstract]
Property and equipment	$ 703,805	583,776
Building
Property, Plant and Equipment [Line Items]
Estimated useful life	20 years
Property, Plant and Equipment, Net [Abstract]
Property and equipment	$ 517,554	466,003
Leasehold improvements
Property, Plant and Equipment, Net [Abstract]
Property and equipment	$ 62,216	64,238
Computer software and hardware
Property, Plant and Equipment [Line Items]
Estimated useful life	3 years
Property, Plant and Equipment, Net [Abstract]
Property and equipment	$ 125,633	120,544
Land
Property, Plant and Equipment, Net [Abstract]
Property and equipment	63,875	58,885
Furniture, fixtures and other
Property, Plant and Equipment, Net [Abstract]
Property and equipment	122,820	102,933
Construction in progress
Property, Plant and Equipment, Net [Abstract]
Property and equipment	$ 245,722	$ 285,202
Minimum \| Furniture, fixtures and other
Property, Plant and Equipment [Line Items]
Estimated useful life	2 years
Maximum \| Clinical and manufacturing equipment
Property, Plant and Equipment [Line Items]
Estimated useful life	13 years
Maximum \| Furniture, fixtures and other
Property, Plant and Equipment [Line Items]
Estimated useful life	5 years

Net Income per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Numerator:
Net income	$ 445,053	$ 361,573	$ 772,020
Denominator:
Weighted-average common shares outstanding, basic (shares)	76,426	78,190	78,917
Dilutive effect of potential common stock (shares)	142	230	753
Total shares, diluted (shares)	76,568	78,420	79,670
Net income per share, basic (usd per share)	$ 5.82	$ 4.62	$ 9.78
Net income per share, diluted (usd per share)	$ 5.81	$ 4.61	$ 9.69
Anti-dilutive potential common shares (shares)	293	320	1

- 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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+ Details

Schedule II: Valuation and Qualifying Accounts and Reserves (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Allowance for doubtful accounts:
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	$ 10,343	$ 9,245	$ 10,239
Additions (Reductions) to Costs and Expenses	8,002	4,102	2,814
Write Offs	(3,452)	(3,004)	(3,808)
Balance at End of Period	14,893	10,343	9,245
Valuation allowance for deferred tax assets:
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	23,286	12,938	1,325
Additions (Reductions) to Costs and Expenses	(8,295)	10,348	11,613
Write Offs	0	0	0
Balance at End of Period	$ 14,991	$ 23,286	$ 12,938

Stockholders' Equity - Summary of Nonvested Shares (Detail) - Restricted Stock Units (RSUs) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Shares Underlying RSUs
Nonvested beginning balance (shares)	489,000
Granted (shares)	509,000
Vested and released (shares)	(201,358)
Forfeited (shares)	(61,000)
Nonvested ending balance (shares)	736,000	489,000
Nonvested, beginning balance (usd per share)	$ 427.23
Weighted average grant date fair value of awards granted (usd per share)	316.16	$ 469.12	$ 600.10
Vested and released (usd per share)	376.41
Forfeited (usd per share)	386.66
Nonvested, ending balance (usd per share)	$ 367.63	$ 427.23
Weighted Remaining Vesting Period (in years)
Unvested	1 year 4 months 24 days
Aggregate Intrinsic Value
Unvested	$ 201,789

Restructuring and Other Charges

12 Months Ended

Dec. 31, 2023

Restructuring and Related Activities [Abstract]

Restructuring and Other Charges

Restructuring Activities

During the fourth quarter of 2023, we initiated a restructuring plan to increase efficiencies across the organization which is expected to be completed in the first half of 2024. We incurred approximately $14.0 million in restructuring expenses, of which $0.7 million was recorded in Cost of net revenues and $13.3 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
Balance as of December 31, 2021	$	—	$	—	$	—
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
Restructuring charges	13,989		—		13,989
Cash payments	(12,606)		—		(12,606)

Balance as of December 31, 2023 1	$	5,299	$	—	$	5,299

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

Goodwill and Intangible Assets - Change in the Carrying Value of Goodwill (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Goodwill [Roll Forward]
Beginning Balance	$ 407,551	$ 418,547
Additions from acquisition		8,729
Foreign currency translation adjustments	11,979	(19,725)
Ending Balance	419,530	407,551
Clear Aligner
Goodwill [Roll Forward]
Beginning Balance	109,480	112,208
Additions from acquisition		0
Foreign currency translation adjustments	1,606	(2,728)
Ending Balance	111,086	109,480
Systems and Services
Goodwill [Roll Forward]
Beginning Balance	298,071	306,339
Additions from acquisition		8,729
Foreign currency translation adjustments	10,373	(16,997)
Ending Balance	$ 308,444	$ 298,071

- 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

Stockholders' Equity - Stock-Based Compensation (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 154,026	$ 133,367	$ 114,336
Cost of net revenues
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	7,462	6,438	5,633
Selling, general and administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	115,992	103,134	90,659
Research and development
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 30,572	$ 23,795	$ 18,044

Subsequent Events (Details) - Subsequent Event - Cubicure $ in Millions	Jan. 02, 2024 USD ($)
Subsequent Event [Line Items]
Ownership interest prior to acquisition	9.00%
Percentage acquired	91.00%
Total purchase consideration paid	$ 87

Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Operating lease cost	$ 44,614	$ 37,919	$ 33,241
Variable lease cost	16,013	22,084	11,134
Total lease cost	$ 60,627	$ 60,003	$ 44,375

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2023
Audit Information [Abstract]
Auditor Name	PricewaterhouseCoopers LLP
Auditor Location	San Jose, California
Auditor Firm ID	238

Goodwill and Intangible Assets - Total Estimated Annual Future Amortization Expense for the Acquired Intangible Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
2024	$ 15,335
2025	14,959
2026	14,353
2027	11,992
2028	10,890
Thereafter	13,602
Total	$ 81,131	$ 97,632

Restructuring and Other Charges (Tables)

12 Months Ended

Dec. 31, 2023

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
Balance as of December 31, 2021	$	—	$	—	$	—
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
Restructuring charges	13,989		—		13,989
Cash payments	(12,606)		—		(12,606)

Balance as of December 31, 2023 1	$	5,299	$	—	$	5,299

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

Income Taxes - Rollforward of Total Gross Unrecognized Tax Benefit (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Gross unrecognized tax benefits at January 1,	$ 141,560	$ 63,295	$ 46,320
Increases related to tax positions taken during the current year	8,616	84,249	27,710
Increases related to tax positions taken during a prior year	5,647	15,411	5,471
Decreases related to tax positions taken during a prior year	(533)	(2,647)	(5,804)
Decreases related to expiration of statute of limitations	(3,654)	(4,582)	(8,986)
Decreases related to settlement with tax authorities	(2,464)	(14,166)	(1,416)
Gross unrecognized tax benefits at December 31,	$ 149,172	$ 141,560	$ 63,295

Leases - Schedule of Operating Lease Liabilities (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Leases [Abstract]
2024	$ 33,838
2025	28,381
2026	22,449
2027	16,933
2028	12,746
Thereafter	25,901
Total lease payments	140,248
Less: Imputed interest	(13,629)
Total lease liabilities	$ 126,619

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

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,
	2023		2022		2021
Domestic	$	315,643	$	268,097	$	378,478
Foreign	325,561		330,960		633,945
Net income before provision for (benefit from) income taxes	$	641,204	$	599,057	$	1,012,423

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,
	2023		2022		2021
Federal
Current	$	134,332	$	188,050	$	157,383
Deferred	(16,805)		(55,579)		(25,598)
	117,527		132,471		131,785
State
Current	28,535		34,621		28,365
Deferred	(3,157)		(12,265)		(5,860)
	25,378		22,356		22,505
Foreign
Current	51,306		56,537		42,681
Deferred	1,940		26,120		43,432
	53,246		82,657		86,113
Provision for (benefit from) income taxes	$	196,151	$	237,484	$	240,403

Schedule of Effective Income Tax Rate Reconciliation

The differences between income taxes using the federal statutory income tax rate for the year ended December 31, 2023, 2022 and 2021 and our effective tax rates are as follows:


	Year Ended December 31,
	2023		2022		2021
U.S. federal statutory income tax rate	21.0	%	21.0	%	21.0	%
State income taxes, net of federal tax benefit	2.9		3.7		2.2
U.S. tax on foreign earnings	3.7		5.6		2.5
Impact of differences in foreign tax rates	1.4		3.3		(2.0)
Stock-based compensation	3.0		2.1		(0.3)


Settlement on audits	0.1		1.9		—

Change in valuation allowance	(1.3)		1.7		1.1
Other items not individually material	(0.2)		0.3		(0.8)
Effective tax rate	30.6	%	39.6	%	23.7	%

Schedule of Deferred Tax Assets and Liabilities

As of December 31, 2023 and 2022, the significant components of our deferred tax assets and liabilities are (in thousands):


	December 31,
	2023		2022
Deferred tax assets:
Net operating loss and capital loss carryforwards	$	1,389	$	15,380
Reserves and accruals	62,891		32,759
Stock-based compensation	25,054		19,469
Deferred revenue	142,082		117,039
Capitalized research & development	41,505		54,293
Amortizable tax basis in intangibles	1,325,236		1,350,434


Other	13,228		16,645
Deferred tax assets before valuation allowance	1,611,385		1,606,019
Valuation allowance	(14,991)		(23,286)
Total deferred tax assets	1,596,394		1,582,733

Deferred tax liabilities:
Depreciation and amortization	7,814		11,407
Acquisition-related intangibles	25,097		26,008
Other	3,570		3,438
Total deferred tax liabilities	36,481		40,853
Net deferred tax assets	1,559,913		1,541,880

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, 2023, 2022 and 2021, are as follows (in thousands):


	Year Ended December 31,
	2023		2022		2021
Gross unrecognized tax benefits at January 1,	$	141,560	$	63,295	$	46,320
Increases related to tax positions taken during the current year	8,616		84,249		27,710

Increases related to tax positions taken during a prior year	5,647		15,411		5,471
Decreases related to tax positions taken during a prior year	(533)		(2,647)		(5,804)
Decreases related to expiration of statute of limitations	(3,654)		(4,582)		(8,986)
Decreases related to settlement with tax authorities	(2,464)		(14,166)		(1,416)
Gross unrecognized tax benefits at December 31,	$	149,172	$	141,560	$	63,295

Balance Sheet Components - Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Balance Sheet Related Disclosures [Abstract]
Value added tax receivables	$ 143,728	$ 140,484
Prepaid expenses	52,487	69,124
Other current assets	77,335	16,762
Total prepaid expenses and other current assets	$ 273,550	$ 226,370

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, 2020

78,860

Beginning 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

Net change in unrealized gains (losses) from investments

(495)

Net change in foreign currency translation adjustment

(38,680)

Issuance of common stock relating to employee equity compensation plans (in shares)

^[1]

442

Issuance of common stock relating to employee equity compensation plans

^[1]

25,623

Tax withholdings related to net share settlements of equity awards

(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

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

Net change in unrealized gains (losses) from investments

(3,130)

Net change in foreign currency translation adjustment

(11,480)

Issuance of common stock relating to employee equity compensation plans (in shares)

^[1]

305

Issuance of common stock relating to employee equity compensation plans

^[1]

26,149

Tax withholdings related to net share settlements of equity awards

(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)

Stock-based compensation

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

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Net income

445,053

Net change in unrealized gains (losses) from investments

3,033

Net change in foreign currency translation adjustment

28,419

Issuance of common stock relating to employee equity compensation plans (in shares)

^[1]

335

Issuance of common stock relating to employee equity compensation plans

^[1]

26,595

Tax withholdings related to net share settlements of equity awards

(22,575)

Common stock repurchased and retired (shares)

(2,457)

Common stock repurchased and retired

(595,420)

$ (1)

(30,852)

(564,567)

Equity forward contract related to accelerated stock repurchase

(10,000)

Stock-based compensation

154,026

Ending Balance (in shares) at Dec. 31, 2023

75,075

Ending Balance at Dec. 31, 2023

$ 3,630,489

$ 7

$ 1,162,140

$ 21,168

$ 2,447,174

[1]	1 Includes tax withholding shares related to net share settlements of equity awards.

Financial Instruments - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Foreign Exchange Forward
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net gain (loss) on derivative	$ (15.9)	$ 0.0	$ 18.8

Schedule II: Valuation and Qualifying Accounts and Reserves

12 Months Ended

Dec. 31, 2023

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, 2021	$	10,239	$	2,814	$	(3,808)	$	9,245
Year Ended December 31, 2022	$	9,245	$	4,102	$	(3,004)	$	10,343
Year Ended December 31, 2023	$	10,343	$	8,002	$	(3,452)	$	14,893
Valuation allowance for deferred tax assets:
Year Ended December 31, 2021	$	1,325	$	11,613	$	—	$	12,938
Year Ended December 31, 2022	$	12,938	$	10,348	$	—	$	23,286
Year Ended December 31, 2023	$	23,286	$	(8,295)	$	—	$	14,991

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 445,053	$ 361,573	$ 772,020
Adjustments to reconcile net income to net cash provided by operating activities:
Deferred taxes	(18,642)	(39,495)	15,455
Depreciation and amortization	142,401	125,793	108,729
Stock-based compensation	154,026	133,367	114,336
Non-cash operating lease cost	33,107	30,520	26,807
Impairments on equity investments	4,990	0	0
Arbitration award gain	0	0	(43,403)
Other non-cash operating activities	32,733	41,288	24,363
Changes in assets and liabilities, net of effects of acquisitions:
Accounts receivable	(104,614)	21,549	(262,066)
Inventories	30,169	(130,097)	(112,450)
Prepaid expenses and other assets	(51,013)	(65,514)	(124,626)
Accounts payable	(7,703)	(36,523)	19,747
Accrued and other long-term liabilities	46,327	(121,942)	158,543
Long-term income tax payable	(7,772)	6,327	12,449
Deferred revenues	86,714	241,886	462,640
Net cash provided by operating activities	785,776	568,732	1,172,544
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisitions, net of cash acquired	0	(12,304)	(8,002)
Purchase of property, plant and equipment	(177,716)	(291,900)	(401,098)
Purchase of marketable securities	(2,910)	(28,002)	(200,928)
Proceeds from maturities of marketable securities	55,170	23,785	498
Proceeds from sales of marketable securities	6,234	97,316	3,114
Repayment on unsecured promissory note	0	0	4,594
Proceeds from arbitration award	0	0	43,403
Purchase of equity investments	(76,999)	0	0
Other investing activities	278	(2,211)	(5,011)
Net cash used in investing activities	(195,943)	(213,316)	(563,430)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common stock	26,595	26,149	25,623
Common stock repurchases	(592,360)	(435,036)	(375,038)
Activity for equity forward contracts related to accelerated stock repurchase agreements, net	(10,000)	(40,000)	0
Payroll taxes paid upon the vesting of equity awards	(22,575)	(52,799)	(108,917)
Net cash used in financing activities	(598,340)	(501,686)	(458,332)
Effect of foreign exchange rate changes on cash, cash equivalents, and restricted cash	4,671	(11,514)	(12,117)
Net (decrease) increase in cash, cash equivalents, and restricted cash	(3,836)	(157,784)	138,665
Cash, cash equivalents, and restricted cash at beginning of year	942,355	1,100,139	961,474
Cash, cash equivalents, and restricted cash at end of year	$ 938,519	$ 942,355	$ 1,100,139

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 445,053	$ 361,573	$ 772,020
Other comprehensive income (loss):
Net change in foreign currency translation adjustment	28,419	(11,480)	(38,680)
Change in unrealized gains (losses) on investments, net of tax	3,033	(3,130)	(495)
Other comprehensive income (loss)	31,452	(14,610)	(39,175)
Comprehensive income	$ 476,505	$ 346,963	$ 732,845

- Definition

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

+ References

+ Details

Income Taxes - Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deferred tax assets:
Net operating loss and capital loss carryforwards	$ 1,389	$ 15,380
Reserves and accruals	62,891	32,759
Stock-based compensation	25,054	19,469
Deferred revenue	142,082	117,039
Capitalized research & development	41,505	54,293
Amortizable tax basis in intangibles	1,325,236	1,350,434
Other	13,228	16,645
Deferred tax assets before valuation allowance	1,611,385	1,606,019
Valuation allowance	(14,991)	(23,286)
Total deferred tax assets	1,596,394	1,582,733
Deferred tax liabilities:
Depreciation and amortization	7,814	11,407
Acquisition-related intangibles	25,097	26,008
Other	3,570	3,438
Total deferred tax liabilities	36,481	40,853
Net deferred tax assets	$ 1,559,913	$ 1,541,880

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 31, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Summary of Significant Accounting Policies	12 Months Ended
Summary of Significant Accounting Policies	Dec. 31, 2023
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”), ViveraTM retainers for retention, iTeroTM intraoral scanners and services for dentistry, and exocadTM 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, consumers, orthodontists, 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 accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America, (“GAAP”) and 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 GAAP requires management to make estimates and assumptions that affect the amounts reported in our 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, plant and equipment, goodwill, income taxes, contingent liabilities, deferred revenues, 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. In September 2023, we completed an assessment of the useful lives of certain manufacturing equipment used in cutting, forming, assembling and scanning. We adjusted the estimated useful life from ten (10) years to thirteen (13) years. This change in accounting estimate was effective beginning September 2023. These updated useful lives were applied to applicable assets in service as of the date of change and will be applied prospectively as assets are placed in service. Based on the carrying amount of the assets recorded in our property, plant and equipment, net balance prior to the change, the effect of this change in estimate for fiscal year 2023 was a reduction in depreciation expense of approximately $5.4 million and an increase in net income of $3.7 million, or $0.05 per share basic and diluted, for the year ended December 31, 2023. 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. 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 cash 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 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 balance consists 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 marketable 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 collectability 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 assessment of whether we are the primary beneficiary of a VIE require management to exercise significant judgement and utilize assumptions. 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 as an investment in equity securities. We have elected to account for all investments in equity securities in accordance with the measurement alternative. Under the measurement alternative, we record the value of our investments in equity securities at cost, minus impairment, if any. Additionally, we adjust the carrying value of our investments equity securities to fair value for observable transactions for identical or similar investments of the same issuer. On April 24, 2023, we entered into a Subscription Agreement (the "Subscription Agreement") with Heartland Dental Holding Corporation (“Heartland”) who is an affiliate of KKR Core Holding Company LLC, which is an investment vehicle managed or advised by, or otherwise affiliated with, Kohlberg Kravis Roberts & Co. L.P. Heartland is a dental support organization (“DSO”) that provides nonclinical administrative and support services to supported dental professional corporations (“PCs”). Pursuant to the Subscription Agreement we acquired less than a 5% equity interest through the purchase of Class A Common Stock for $75 million. In connection with the Subscription Agreement, we entered into a Stockholders’ Agreement, by and among us, Heartland Dental Topco, LLC (“Topco”) and funds and accounts managed by affiliates of KKR & Co. Inc. (“KKR”), and a Side Letter, by and among us, Heartland, Topco and KKR (the "Side Letter"). Subject to certain restrictions set forth in the Side Letter, we agreed to provisions applicable to Heartland’s stockholders, including certain drag-along and voting obligations. We are not the primary beneficiary of nor are we able to exercise significant influence over Heartland. As such, we are accounting for our investment in Heartland as an investment in equity securities. Similar to our other investments in equity securities, Heartland is accounted for under the measurement alternative. Based on review of our investment in Heartland, we determined that no adjustments to the carrying value were necessary; therefore, it is properly reflected on our Consolidated Balance Sheet in other assets at $75 million. Investments in equity securities are reported on our Consolidated Balance Sheet as other assets. 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 investments in equity securities, exclusive of Heartland, were not material as of December 31, 2023 or 2022 and the associated adjustments to the carrying values of the investments were not material during the year ended December 31, 2023, 2022 and 2021. Our investments in privately held companies in which we can exercise significant influence are accounted for as equity method investments. We have elected to account for our equity method investments under the fair value option. The carrying value of our equity method investments are reported on our Consolidated Balance Sheet as other assets and are not material as of December 31, 2023 or 2022. On September 6, 2023, we entered into a definitive agreement to acquire privately held Cubicure GmbH (“Cubicure”). The purchase price for the transaction will be approximately $87 million subject to customary closing adjustments and adjustments for Align’s existing ownership of capital stock of Cubicure. The acquisition closed on January 2, 2024. Refer to Note 17 “Subsequent Events" of the Notes to Consolidated Financial Statements for further details. 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 of the subsidiary 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 to change in foreign currency translation adjustment, net of tax in our Consolidated Statements of Comprehensive Income. 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. Foreign currency remeasurement gains and losses that are derived from monetary assets and liabilities stated in a currency other than the international subsidiaries functional currency are included in other income (expense), net. For the year ended December 31, 2023, 2022 and 2021, we had foreign currency translation net gains (losses) of $(7.0) million, $(43.8) million and $(13.3) 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, particularly in prior years, have been impacted by the COVID-19 pandemic. 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 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 and giving consideration to various factors including the aging of the receivables and a customers’ expected ability to pay. For specific customer accounts receivable balances, we consider known disputes and past 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, net balance at December 31, 2023 or 2022 nor net revenues for the year ended December 31, 2023, 2022 or 2021. For the year ended December 31, 2023 and 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 financial assets 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 factoring arrangements was $51.2 million and $37.0 million during the year ended December 31, 2023, and 2022, respectively. Factoring fees incurred on the sales of accounts receivable were recorded in other income (expense), net in our Consolidated Statements 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. Depreciation expense is 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 are not ready for their intended use and have not yet been placed in service. 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 or contains 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. A ROU asset and lease liability is recognized on the lease commencement date. The lease liability is determined 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. The ROU asset consists of the initial lease liability adjusted for lease incentives received and any initial direct costs incurred. The lease term represents the noncancellable period of the lease and may include options to extend 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 ROU asset and lease liability balances. The short-term portion of our lease liabilities is recorded in accrued liabilities on our Consolidated Balance Sheets. 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 determining the fair value of 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 Goodwill represents the excess of the purchase price paid over the fair value of tangible and identifiable intangible net assets acquired in a business combination and is allocated to the respective reporting units based on relative synergies generated. Finite-Lived Intangible Assets Our intangible assets primarily consist of intangible assets acquired as part of a business combination. These assets are amortized using the straight-line method over their estimated useful lives ranging from eight to ten years reflecting the period in which the economic benefits of the assets are expected to be realized. Impairment of Goodwill and Long-Lived Assets and Finite-Lived Intangible Assets Goodwill We evaluate goodwill for impairment at least annually on November 30th or more frequently if indicators of impairment are identified between annual testing dates. 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 has been reduced below its carrying amount. In performing this 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 not more likely than not that the fair value of the reporting unit is less than its carrying value, no further testing is performed; however, if we conclude otherwise, then we will perform a 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 exceeds its fair value, an impairment loss would be recorded in our Consolidated Statements of Operations for the amount of the excess. Management is required to exercise significant judgement when identifying the relevant assumptions and estimates used in determining the fair value and carrying value of our reporting units. Long-Lived Assets and Finite-Lived Intangible Assets We evaluate long-lived assets (including ROU assets) and finite-lived intangible assets, for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset (asset group) may not be recoverable. Factors we consider important which could trigger a quantitative impairment test include but are not limited to significant negative industry or economic trends, significant adverse changes in our competitive environment and a significant loss of customers. If an impairment indicator is identified, we perform a quantitative impairment analysis in which we compare the carrying value of an asset (asset group) to the future undiscounted cash flows the asset (asset group) is expected to generate. An asset (asset group) is considered impaired if its carrying amount exceeds the undiscounted cash flows. If an asset (asset group) is deemed to be impaired, the impairment to be recognized is calculated as the amount by which the carrying amount of the asset (asset group) exceeds its fair value. Our estimates of future cash flows attributable to our assets (asset groups) require significant judgment based on our historical and anticipated results and are subject to many assumptions. 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. Capitalized internally developed software costs were not material as of December 31, 2023 or 2022. 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 intended because it complies with agreed-upon specifications; therefore, our warranties are not treated as a separate revenue performance obligation in accordance with the revenue standard but rather are accounted for as guarantees. 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 product failure rates as well as current information on replacement cost. 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 an additional fee. Sales of extended warranties are accounted for as a separate performance obligation and recorded as revenue. 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 reportable 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 historical prices, changing trends and market conditions, 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 Phase 1, Invisalign First Comprehensive Phase 2, Invisalign Adult, Invisalign Standard, 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. 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 consideration 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 capitalized costs to obtain contracts were $25.1 million and $27.4 million as of December 31, 2023 and 2022, respectively, and are included in other assets in our Consolidated Balance Sheets. We recognized amortization on our costs to obtain a contract of $12.5 million, $20.8 million, and $17.0 million during the year ended December 31, 2023, 2022, and 2021, 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, and the estimated revenues expected to be recognized in the future related to these performance obligations are $1,578.3 million and $1,515.4 million as of December 31, 2023 and 2022, respectively. This includes performance obligations from the Clear Aligner reportable segment, primarily the shipment of additional aligners, which are fulfilled over six months to five years. This also includes performance obligations from our Systems and Services reportable 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 satisfied with payment terms generally varying from net 30 to net 180 days. Contract liabilities are recorded as deferred revenue, which is generated based upon the timing of invoices and recognition patterns, not payments. If the revenue recognition exceeds the billing, the excess amount is considered an unbilled receivable or 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 Litigation 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. 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. Research and Development Research and development costs are expensed as incurred and include 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, 2023, 2022 and 2021, we incurred advertising costs of $201.2 million, $222.0 million and $325.6 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 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. 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 of 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 On November 27, 2023, the FASB issued ASU 2023-07, “Improvements to Reportable Segment Disclosures.” The amendments in this update improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. For public business entities, the provisions of ASU 2023-07 are effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. Companies must apply the guidance retrospectively to all prior periods presented in the financial statements. The Company is evaluating the effect of this pronouncement on its annual consolidated financial statements. On December 14, 2023, the FASB issued ASU 2023-09, “Improvements to Income Tax Disclosures.” The amendments in this ASU require a public entity to disclose in tabular format, using both percentages and reporting currency amounts, specific categories in the rate reconciliation and to provide additional information for reconciling items that meet a quantitative threshold. The amendments in this ASU also require taxes paid (net of refunds received) to be disaggregated by federal, state, and foreign taxes and further disaggregated for specific jurisdictions to the extent the related amounts exceed a quantitative threshold. For public business entities, the provisions of ASU 2023-09 are effective for fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company is evaluating the effect of this pronouncement on its annual consolidated financial statements.

Goodwill and Intangible Assets - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill impairment	$ 0	$ 0
Amortization of intangible assets	$ 16,400,000	$ 16,000,000	$ 16,600,000

Legal Proceedings	12 Months Ended
Legal Proceedings	Dec. 31, 2023
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. 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 treble monetary damages, interest, costs, attorneys’ fees, 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. On December 18, 2023, the court certified a class of persons or entities that purchased Invisalign directly from Align between January 1, 2019 and March 31, 2022. We filed a petition with the Ninth Circuit seeking to appeal the certification ruling. The court denied Plaintiffs’ motion to certify a class of purchasers of scanners. On February 21, 2024, the court granted Align’s motion for summary judgment on all claims brought by the plaintiffs. 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 treble monetary damages, interest, costs, attorneys’ fees, and injunctive relief relating to our alleged market activities in alleged clear aligner and intraoral scanner markets based on Section 2 of the Sherman Act. Plaintiffs have filed several amended complaints adding new plaintiffs, various state law claims, and allegations based on Section 1 of the Sherman Act. On November 29, 2023, the court certified a class of indirect purchasers of Invisalign between July 1, 2018 and December 31, 2023 and a class of indirect purchasers of Invisalign seeking injunctive relief. We filed a petition with the Ninth Circuit seeking to appeal this ruling under Rule 23(f) of the Federal Rules of Civil Procedure. On February 21, 2024, the court granted Align’s motion for summary judgment on the claims related to Section 2 allegations. A jury trial is scheduled to begin in this matter on January 21, 2025 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 denied SDC's allegations in the counterclaims. 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 of $63 million in damages. On May 18, 2023, the arbitrator issued a final award on SDC’s second counterclaim, finding that Align did not breach the Supply Agreement. The final award subsumed the interim award on our claims and SDC’s first counterclaim and concluded the Supply Agreement arbitration proceedings. On March 6, 2023, Align filed a petition to confirm the arbitrator’s interim award in the Superior Court for Santa Clara County. On May 30, 2023, Align filed a petition to confirm the final award in the Superior Court of Santa Clara County. On August 21, 2023, the Superior Court issued an order confirming the Interim and Final Awards. On September 8, 2023, the Superior Court entered judgment in Align’s favor for $63 million in damages. On September 29, 2023, SDC and certain affiliates filed bankruptcy petitions under chapter 11 of title 11 of the United States Code in the United States Bankruptcy Court for the Southern District of Texas. On January 26, 2024, SDC’s bankruptcy cases were converted from cases under chapter 11 of the Bankruptcy Code to cases under chapter 7 of the Bankruptcy Code. In conjunction therewith, Allison D. Byman was appointed as the chapter 7 trustee in SDC’s bankruptcy cases. The extent to which Align will be able to collect any or all of its $63 million judgment through SDC’s bankruptcy proceedings is unknown. 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.

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation and Preparation	Basis of Presentation and Preparation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America, (“GAAP”) and 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 GAAP requires management to make estimates and assumptions that affect the amounts reported in our 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, plant and equipment, goodwill, income taxes, contingent liabilities, deferred revenues, 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. In September 2023, we completed an assessment of the useful lives of certain manufacturing equipment used in cutting, forming, assembling and scanning. We adjusted the estimated useful life from ten (10) years to thirteen (13) years. This change in accounting estimate was effective beginning September 2023. These updated useful lives were applied to applicable assets in service as of the date of change and will be applied prospectively as assets are placed in service. Based on the carrying amount of the assets recorded in our property, plant and equipment, net balance prior to the change, the effect of this change in estimate for fiscal year 2023 was a reduction in depreciation expense of approximately $5.4 million and an increase in net income of $3.7 million, or $0.05 per share basic and diluted, for the year ended December 31, 2023.
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. 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 Equivalents We consider cash 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 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 balance consists 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 marketable 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 collectability 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 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 assessment of whether we are the primary beneficiary of a VIE require management to exercise significant judgement and utilize assumptions. 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	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 as an investment in equity securities. We have elected to account for all investments in equity securities in accordance with the measurement alternative. Under the measurement alternative, we record the value of our investments in equity securities at cost, minus impairment, if any. Additionally, we adjust the carrying value of our investments equity securities to fair value for observable transactions for identical or similar investments of the same issuer. On April 24, 2023, we entered into a Subscription Agreement (the "Subscription Agreement") with Heartland Dental Holding Corporation (“Heartland”) who is an affiliate of KKR Core Holding Company LLC, which is an investment vehicle managed or advised by, or otherwise affiliated with, Kohlberg Kravis Roberts & Co. L.P. Heartland is a dental support organization (“DSO”) that provides nonclinical administrative and support services to supported dental professional corporations (“PCs”). Pursuant to the Subscription Agreement we acquired less than a 5% equity interest through the purchase of Class A Common Stock for $75 million. In connection with the Subscription Agreement, we entered into a Stockholders’ Agreement, by and among us, Heartland Dental Topco, LLC (“Topco”) and funds and accounts managed by affiliates of KKR & Co. Inc. (“KKR”), and a Side Letter, by and among us, Heartland, Topco and KKR (the "Side Letter"). Subject to certain restrictions set forth in the Side Letter, we agreed to provisions applicable to Heartland’s stockholders, including certain drag-along and voting obligations. We are not the primary beneficiary of nor are we able to exercise significant influence over Heartland. As such, we are accounting for our investment in Heartland as an investment in equity securities. Similar to our other investments in equity securities, Heartland is accounted for under the measurement alternative. Based on review of our investment in Heartland, we determined that no adjustments to the carrying value were necessary; therefore, it is properly reflected on our Consolidated Balance Sheet in other assets at $75 million. Investments in equity securities are reported on our Consolidated Balance Sheet as other assets. 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 investments in equity securities, exclusive of Heartland, were not material as of December 31, 2023 or 2022 and the associated adjustments to the carrying values of the investments were not material during the year ended December 31, 2023, 2022 and 2021. Our investments in privately held companies in which we can exercise significant influence are accounted for as equity method investments. We have elected to account for our equity method investments under the fair value option. The carrying value of our equity method investments are reported on our Consolidated Balance Sheet as other assets and are not material as of December 31, 2023 or 2022. On September 6, 2023, we entered into a definitive agreement to acquire privately held Cubicure GmbH (“Cubicure”). The purchase price for the transaction will be approximately $87 million subject to customary closing adjustments and adjustments for Align’s existing ownership of capital stock of Cubicure. The acquisition closed on January 2, 2024. Refer to Note 17 “Subsequent Events" of the Notes to Consolidated Financial Statements for further details. 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.
Derivative Financial Instruments	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	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 of the subsidiary 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 to change in foreign currency translation adjustment, net of tax in our Consolidated Statements of Comprehensive Income. 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. Foreign currency remeasurement gains and losses that are derived from monetary assets and liabilities stated in a currency other than the international subsidiaries 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, particularly in prior years, have been impacted by the COVID-19 pandemic. 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 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 and giving consideration to various factors including the aging of the receivables and a customers’ expected ability to pay. For specific customer accounts receivable balances, we consider known disputes and past 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, net balance at December 31, 2023 or 2022 nor net revenues for the year ended December 31, 2023, 2022 or 2021. For the year ended December 31, 2023 and 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 financial assets 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 factoring arrangements was $51.2 million and $37.0 million during the year ended December 31, 2023, and 2022, respectively. Factoring fees incurred on the sales of accounts receivable were recorded in other income (expense), net in our Consolidated Statements 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, net	Property, Plant and Equipment, net Property, plant and equipment, net are stated at historical cost less accumulated depreciation. Depreciation expense is 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 are not ready for their intended use and have not yet been placed in service. 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 or contains 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. A ROU asset and lease liability is recognized on the lease commencement date. The lease liability is determined 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. The ROU asset consists of the initial lease liability adjusted for lease incentives received and any initial direct costs incurred. The lease term represents the noncancellable period of the lease and may include options to extend 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 ROU asset and lease liability balances. The short-term portion of our lease liabilities is recorded in accrued liabilities on our Consolidated Balance Sheets.
Business Combinations	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 determining the fair value of 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 Intangible Assets	Goodwill Goodwill represents the excess of the purchase price paid over the fair value of tangible and identifiable intangible net assets acquired in a business combination and is allocated to the respective reporting units based on relative synergies generated. Finite-Lived Intangible Assets Our intangible assets primarily consist of intangible assets acquired as part of a business combination. These assets are amortized using the straight-line method over their estimated useful lives ranging from eight to ten years reflecting the period in which the economic benefits of the assets are expected to be realized.
Impairment of Goodwill and Long-Lived Assets and Finite-Lived Intangible Assets	Impairment of Goodwill and Long-Lived Assets and Finite-Lived Intangible Assets Goodwill We evaluate goodwill for impairment at least annually on November 30th or more frequently if indicators of impairment are identified between annual testing dates. 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 has been reduced below its carrying amount. In performing this 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 not more likely than not that the fair value of the reporting unit is less than its carrying value, no further testing is performed; however, if we conclude otherwise, then we will perform a 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 exceeds its fair value, an impairment loss would be recorded in our Consolidated Statements of Operations for the amount of the excess. Management is required to exercise significant judgement when identifying the relevant assumptions and estimates used in determining the fair value and carrying value of our reporting units. Long-Lived Assets and Finite-Lived Intangible Assets We evaluate long-lived assets (including ROU assets) and finite-lived intangible assets, for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset (asset group) may not be recoverable. Factors we consider important which could trigger a quantitative impairment test include but are not limited to significant negative industry or economic trends, significant adverse changes in our competitive environment and a significant loss of customers. If an impairment indicator is identified, we perform a quantitative impairment analysis in which we compare the carrying value of an asset (asset group) to the future undiscounted cash flows the asset (asset group) is expected to generate. An asset (asset group) is considered impaired if its carrying amount exceeds the undiscounted cash flows. If an asset (asset group) is deemed to be impaired, the impairment to be recognized is calculated as the amount by which the carrying amount of the asset (asset group) exceeds its fair value. Our estimates of future cash flows attributable to our assets (asset groups) require significant judgment based on our historical and anticipated results and are subject to many assumptions.
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. Capitalized internally developed software costs were not material as of December 31, 2023 or 2022. 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 intended because it complies with agreed-upon specifications; therefore, our warranties are not treated as a separate revenue performance obligation in accordance with the revenue standard but rather are accounted for as guarantees. 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 product failure rates as well as current information on replacement cost. 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 an additional fee. Sales of extended warranties are accounted for as a separate performance obligation and recorded as revenue. 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 reportable 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 historical prices, changing trends and market conditions, 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 Phase 1, Invisalign First Comprehensive Phase 2, Invisalign Adult, Invisalign Standard, 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. 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 consideration 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 capitalized costs to obtain contracts were $25.1 million and $27.4 million as of December 31, 2023 and 2022, respectively, and are included in other assets in our Consolidated Balance Sheets. We recognized amortization on our costs to obtain a contract of $12.5 million, $20.8 million, and $17.0 million during the year ended December 31, 2023, 2022, and 2021, 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, and the estimated revenues expected to be recognized in the future related to these performance obligations are $1,578.3 million and $1,515.4 million as of December 31, 2023 and 2022, respectively. This includes performance obligations from the Clear Aligner reportable segment, primarily the shipment of additional aligners, which are fulfilled over six months to five years. This also includes performance obligations from our Systems and Services reportable 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 satisfied with payment terms generally varying from net 30 to net 180 days. Contract liabilities are recorded as deferred revenue, which is generated based upon the timing of invoices and recognition patterns, not payments. If the revenue recognition exceeds the billing, the excess amount is considered an unbilled receivable or 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 Litigation	Legal Proceedings and Litigation 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 include 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, 2023, 2022 and 2021, we incurred advertising costs of $201.2 million, $222.0 million and $325.6 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 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.
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 of 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 On November 27, 2023, the FASB issued ASU 2023-07, “Improvements to Reportable Segment Disclosures.” The amendments in this update improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. For public business entities, the provisions of ASU 2023-07 are effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. Companies must apply the guidance retrospectively to all prior periods presented in the financial statements. The Company is evaluating the effect of this pronouncement on its annual consolidated financial statements. On December 14, 2023, the FASB issued ASU 2023-09, “Improvements to Income Tax Disclosures.” The amendments in this ASU require a public entity to disclose in tabular format, using both percentages and reporting currency amounts, specific categories in the rate reconciliation and to provide additional information for reconciling items that meet a quantitative threshold. The amendments in this ASU also require taxes paid (net of refunds received) to be disaggregated by federal, state, and foreign taxes and further disaggregated for specific jurisdictions to the extent the related amounts exceed a quantitative threshold. For public business entities, the provisions of ASU 2023-09 are effective for fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company is evaluating the effect of this pronouncement on its annual consolidated financial statements.
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.

Common Stock Repurchase Programs - Accelerated Share Repurchase Agreements (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended				12 Months Ended
	Jan. 30, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022	Jun. 30, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share Repurchases [Line Items]
Amount paid						$ 592,360	$ 435,036	$ 375,038
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)				984,714
Cost per share (in dollars per share)				$ 203.10
May 2021 Repurchase Program \| Q1 2023
Share Repurchases [Line Items]
Amount paid			$ 250,000
Common stock repurchased and retired (shares)			805,908
Cost per share (in dollars per share)			$ 310.21
January 2023 Repurchase Program \| Q4 2023
Share Repurchases [Line Items]
Amount paid		$ 250,000
Common stock repurchased and retired (shares)		1,049,538
Cost per share (in dollars per share)		$ 190.56
Equity forward contract, percent		20.00%				20.00%
Equity forward contract		$ 50,000				$ 50,000
Initial delivery amount		$ 200,000
Initial delivery (in shares)		1,050,000.00
January 2023 Repurchase Program \| Q4 2023 \| Subsequent Event
Share Repurchases [Line Items]
Common stock repurchased and retired (shares)	36,796
Cost per share (in dollars per share)	$ 230.13

Common Stock Repurchase Programs (Tables)

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

Accelerated Stock Repurchases

The following table summarizes the information regarding repurchases of our common stock under ASRs for the year ended December 31, 2023 and 2022:



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

Q2 2022	May 2021	$	200.0	Q2 2022	756,502	$	264.37
Q4 2022	May 2021	$	200.0	Q1 2023	984,714	$	203.10
Q1 2023	May 2021	$	250.0	Q1 2023	805,908	$	310.21
Q4 2023	January 2023	$	250.0	N/A1	1,049,538	$	190.56

1 As of December 31, 2023, this ASR contract was open. Approximately 20% or $50 million of the Amount Paid was recorded as an equity forward contract within “Additional paid-in capital” in our Statement of Stockholders Equity. The Average price per share in the table is based on $200 million and 1.05 million shares initially delivered. On January 30, 2024 this ASR contract was settled and an additional 36,796 shares were delivered and retired. The average purchase price per share for the completed contract was $230.13 per share.

Income Taxes - Provision for (Benefit from) Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Federal
Current	$ 134,332	$ 188,050	$ 157,383
Deferred	(16,805)	(55,579)	(25,598)
Total federal income tax expense	117,527	132,471	131,785
State
Current	28,535	34,621	28,365
Deferred	(3,157)	(12,265)	(5,860)
Total state tax expense	25,378	22,356	22,505
Foreign
Current	51,306	56,537	42,681
Deferred	1,940	26,120	43,432
Total foreign tax expense	53,246	82,657	86,113
Provision for income taxes	$ 196,151	$ 237,484	$ 240,403

Common Stock Repurchase Programs

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

Common Stock Repurchase Programs

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, 2023, the authorization under the May 2021 Repurchase program was completed. In January 2023, our Board of Directors authorized a new plan to repurchase to $1.0 billion of our common stock (“January 2023 Repurchase Program”). As of December 31, 2023, we have $650.0 million available for repurchases under the January 2023 Repurchase Program.

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 each ASR, 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 for the year ended December 31, 2023 and 2022:



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

Q2 2022	May 2021	$	200.0	Q2 2022	756,502	$	264.37
Q4 2022	May 2021	$	200.0	Q1 2023	984,714	$	203.10
Q1 2023	May 2021	$	250.0	Q1 2023	805,908	$	310.21
Q4 2023	January 2023	$	250.0	N/A1	1,049,538	$	190.56

Open Market Common Stock Repurchases

During the year ended December 31, 2023, we repurchased on the open market approximately 0.5 million shares of our common stock at an average price of $214.81 per share, including commissions and fees, for an aggregate purchase price of approximately $100.0 million.

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.

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net income	$ 445,053	$ 361,573	$ 772,020

- Definition

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

+ References

+ Details

Supplemental Cash Flow Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Supplemental Cash Flow Information [Abstract]
Taxes paid	$ 294,569	$ 231,884	$ 203,309
Non-cash investing and financing activities:
Acquisition of property, plant and equipment in accounts payable and accrued liabilities	32,280	35,767	64,135
Final settlement of prior year stock repurchase forward contract	40,000	0	0
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	33,714	31,015	29,769
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$ 27,901	$ 34,144	$ 68,463

Commitments and Contingencies (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2023	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Tax matter assessment	$ 27
Estimated potential exposure		$ 100

Segments and Geographical Information

12 Months Ended

Dec. 31, 2023

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 reportable segment. Certain operating expenses are not directly attributable to a reportable segment and must be allocated. Each allocation is measured differently based on the nature of the cost being allocated. Certain other operating expense are not specifically allocated to segment income from operations and 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 reportable 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,
	2023		2022		2021
Net revenues

Clear Aligner	$	3,199,329	$	3,072,585	$	3,247,080
Systems and Services	662,931		662,050		705,504



Total net revenues	$	3,862,260	$	3,734,635	$	3,952,584
Gross profit
Clear Aligner	$	2,288,038	$	2,228,170	$	2,474,373
Systems and Services	418,825		405,605		460,982
Total gross profit	$	2,706,863	$	2,633,775	$	2,935,355
Income from operations
Clear Aligner	$	1,182,257	$	1,134,420	$	1,325,866
Systems and Services	191,355		179,765		259,127
Unallocated corporate expenses	(730,274)		(671,590)		(608,593)
Total income from operations	$	643,338	$	642,595	$	976,400
Stock-based compensation
Clear Aligner	$	13,963	$	14,816	$	10,648
Systems and Services	1,293		994		705
Unallocated corporate expenses	138,770		117,557		102,983
Total stock-based compensation	$	154,026	$	133,367	$	114,336
Depreciation and amortization
Clear Aligner	$	64,781	$	57,888	$	50,723
Systems and Services	31,518		28,300		21,581
Unallocated corporate expenses	46,102		39,605		36,425
Total depreciation and amortization	$	142,401	$	125,793	$	108,729

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,
	2023		2022		2021
Total segment income from operations	$	1,373,612	$	1,314,185	$	1,584,993
Unallocated corporate expenses	(730,274)		(671,590)		(608,593)
Total income from operations	643,338		642,595		976,400
Interest income	17,258		5,367		3,103
Other income (expense), net	(19,392)		(48,905)		32,920
Net income before provision for (benefit from) income taxes	$	641,204	$	599,057	$	1,012,423

Our Chief Operating Decision Maker does not regularly review total assets at the reportable segment level; however, we have provided geographical information related to our long-lived assets below.

Geographical Information

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


	Year Ended December 31,
	2023		2022		2021
Net revenues 1:
U.S.	$	1,665,925	$	1,660,045	$	1,724,296
Switzerland	1,168,320		1,216,094		1,353,229
Other International	1,028,015		858,496		875,059
Total net revenues	$	3,862,260	$	3,734,635	$	3,952,584

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

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,
	2023		2022
Long-lived assets 1:
Switzerland	$	575,432	$	532,921
U.S.	210,275		214,804
Other International	623,155		603,010
Total long-lived assets	$	1,408,862	$	1,350,735

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
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (d)
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Paragraph 42
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

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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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+ Details

Common Stock Repurchase Programs - Additional Information (Detail) - USD ($) $ / shares in Units, shares in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Jan. 31, 2023	May 31, 2021
Share Repurchases [Line Items]
Common stock repurchased and retired	$ 595,420,000	$ 435,036,000	$ 375,038,000
May 2021 Repurchase Program
Share Repurchases [Line Items]
Repurchase of common stock, authorized					$ 1,000,000,000
January 2023 Repurchase Program
Share Repurchases [Line Items]
Repurchase of common stock, authorized				$ 1,000,000,000
Authorized repurchase amount remaining	$ 650,000,000
Open Market Repurchases
Share Repurchases [Line Items]
Common stock repurchased and retired (shares)	0.5	0.1
Cost per share (in dollars per share)	$ 214.81	$ 522.61
Common stock repurchased and retired	$ 100,000,000	$ 75,000,000

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Tax Matter During the quarter ended September 30, 2023, the Company received a notice and initial assessment, in the amount of approximately $27 million, from His Majesty’s Revenue and Customs (“HMRC”) for unpaid value added tax (“VAT”) related to certain clear aligner sales made during the period of June 2022 through May 2023. We are required to pay this initial assessment prior to contesting or litigating the assessment in administrative and judicial proceedings. The Company has historically asserted and continues to assert that doctor prescribed clear aligners sold by dentists for the orthodontic treatment of patient malocclusions are exempt from VAT, that the Company has reasonably relied upon statements and guidance by HMRC and that the Company’s interpretation of United Kingdom legislation is appropriate. However, it is not possible at this stage to accurately evaluate the likelihood of an unfavorable outcome of any legal challenges brought by the Company against HMRC disputing this initial assessment and any assessments for other past periods, if any. Accordingly, the Company has determined that a potential loss related to unpaid VAT is not probable. As such, we have not recorded a contingent loss for the initial assessment in our Condensed Consolidated Statements of Operations for the year ended December 31, 2023. The Company acknowledges that this matter poses risks of litigation and the ultimate resolution of this matter could result in an unfavorable ruling, which consequently could lead to a significant loss to the Company. As of December 31, 2023, if an unfavorable ruling is issued, we estimate a potential exposure up to approximately $100 million, excluding interest and penalties. 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, 2023, we did not have any material indemnification claims that were probable or reasonably possible.

Restructuring and Other Charges - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	$ 13,989	$ 10,176
Cost of net revenues
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	700
Restructuring and other charges
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	$ 13,300

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Summary of Significant Accounting Policies - Additional Information (Detail) $ / shares in Units, $ in Thousands						12 Months Ended
	Jan. 02, 2024 USD ($)	Sep. 08, 2023 USD ($)	Apr. 24, 2023 USD ($)	Oct. 27, 2022 USD ($)	Mar. 12, 2021 USD ($)	Dec. 31, 2023 USD ($) segment $ / shares	Dec. 31, 2022 USD ($) $ / shares	Dec. 31, 2021 USD ($) $ / shares	Sep. 30, 2023	Jun. 30, 2023
Significant Accounting Policies [Line Items]
Number of operating segments \| segment						2
Depreciation						$ (126,000)	$ (109,800)	$ (92,100)
Fixed-income securities investment portfolio, maximum effective maturity						40 months
Foreign currency net gains (losses)						$ (7,000)	(43,800)	(13,300)
Accounts receivable sold under factoring arrangements						51,200	37,000
Costs to obtain contracts						25,100	27,400
Amortization of costs to obtain contracts						12,500	20,800	17,000
Revenue remaining performance obligation						1,578,300	1,515,400
Amount awarded		$ 63,000		$ 63,000	$ 43,400
Settlement gain						0	0	43,403
Advertising cost						201,200	222,000	325,600
Purchase of equity investment						76,999	0	0
Net income						$ 445,053	$ 361,573	$ 772,020
Basic (usd per share) \| $ / shares						$ 5.82	$ 4.62	$ 9.78
Diluted (usd per share) \| $ / shares						$ 5.81	$ 4.61	$ 9.69
Cubicure \| Subsequent Event
Significant Accounting Policies [Line Items]
Purchase price	$ 87,000
Heartland
Significant Accounting Policies [Line Items]
Equity interest			5.00%
Purchase of equity investment			$ 75,000
Investments in equity securities						$ 75,000
Service Life
Significant Accounting Policies [Line Items]
Depreciation						5,400
Net income						$ 3,700
Basic (usd per share) \| $ / shares						$ 0.05
Diluted (usd per share) \| $ / shares						$ 0.05
Service Life \| Clinical and manufacturing equipment
Significant Accounting Policies [Line Items]
Estimated useful life									13 years	10 years
Clear Aligner
Significant Accounting Policies [Line Items]
Warranty period						3 months
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]: 2024-01-01
Significant Accounting Policies [Line Items]
Expected timing						6 months
Invisalign \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01
Significant Accounting Policies [Line Items]
Expected timing						5 years
Systems and Services \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Significant Accounting Policies [Line Items]
Expected timing						1 year
Systems and Services \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Significant Accounting Policies [Line Items]
Expected timing						5 years
Minimum
Significant Accounting Policies [Line Items]
Estimated useful lives of intangibles						8 years
Maximum
Significant Accounting Policies [Line Items]
Estimated useful lives of intangibles						10 years
Maximum \| Clinical and manufacturing equipment
Significant Accounting Policies [Line Items]
Estimated useful life						13 years

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Accounts receivable, allowance for doubtful accounts and returns	$ 14,893	$ 10,343
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)	75,075,000	77,267,000
Common stock, outstanding (shares)	75,075,000	77,267,000

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 937,438	$ 942,050
Marketable securities, short-term	35,304	57,534
Accounts receivable, net of allowance for doubtful accounts of $14,893 and $10,343, respectively	903,424	859,685
Inventories	296,902	338,752
Prepaid expenses and other current assets	273,550	226,370
Total current assets	2,446,618	2,424,391
Marketable securities, long-term	8,022	41,978
Property, plant and equipment, net	1,290,863	1,231,855
Operating lease right-of-use assets, net	117,999	118,880
Goodwill	419,530	407,551
Intangible assets, net	82,118	95,720
Deferred tax assets	1,590,045	1,571,746
Other assets	128,682	55,826
Total assets	6,083,877	5,947,947
Current liabilities:
Accounts payable	113,125	127,870
Accrued liabilities	525,780	454,374
Deferred revenues	1,427,706	1,343,643
Total current liabilities	2,066,611	1,925,887
Income tax payable	116,744	124,393
Operating lease liabilities	96,968	100,334
Other long-term liabilities	173,065	195,975
Total liabilities	2,453,388	2,346,589
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; 75,075 and 77,267 issued and outstanding, respectively)	7	8
Additional paid-in capital	1,162,140	1,044,946
Accumulated other comprehensive income (loss), net	21,168	(10,284)
Retained earnings	2,447,174	2,566,688
Total stockholders’ equity	3,630,489	3,601,358
Total liabilities and stockholders’ equity	$ 6,083,877	$ 5,947,947

Balance Sheet Components - Deferred Revenues (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Balance Sheet Related Disclosures [Abstract]
Deferred revenues, current	$ 1,427,706	$ 1,343,643
Deferred revenues, long-term	138,000	160,662
Net revenues	3,862,260	3,734,635	$ 3,952,584
Revenue recognized, included in the deferred revenues in prior period	$ 732,400	$ 635,300

- 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
-Topic 924
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 32
-Subparagraph (b)
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 22
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

+ Details

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
Net revenues	$ 3,862,260	$ 3,734,635	$ 3,952,584
Cost of net revenues	1,155,397	1,100,860	1,017,229
Gross profit	2,706,863	2,633,775	2,935,355
Operating expenses:
Selling, general and administrative	1,703,379	1,674,469	1,708,640
Research and development	346,830	305,258	250,315
Restructuring and other charges	13,316	11,453	0
Total operating expenses	2,063,525	1,991,180	1,958,955
Income from operations	643,338	642,595	976,400
Interest income	17,258	5,367	3,103
Other income (expense), net	(19,392)	(48,905)	32,920
Total interest income and other income (expense), net	(2,134)	(43,538)	36,023
Net income before provision for income taxes	641,204	599,057	1,012,423
Provision for income taxes	196,151	237,484	240,403
Net income	$ 445,053	$ 361,573	$ 772,020
Net income per share:
Basic (usd per share)	$ 5.82	$ 4.62	$ 9.78
Diluted (usd per share)	$ 5.81	$ 4.61	$ 9.69
Shares used in computing net income per share:
Basic (shares)	76,426	78,190	78,917
Diluted (shares)	76,568	78,420	79,670

Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2023

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, 2023 and 2022, categorized by reportable segment, is as follows (in thousands):


	Clear Aligner		Systems and Services		Total
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

Foreign currency translation adjustments	1,606		10,373		11,979
Balance as of December 31, 2023	$	111,086	$	308,444	$	419,530

We completed our annual goodwill impairment assessments in 2023 and 2022 and determined there were no impairments.

Finite-Lived Intangible Assets

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


	Weighted Average Amortization Period (in years)	Gross Carrying Amount as of December 31, 2023		Accumulated Amortization		Accumulated Impairment Loss		Net Carrying Value as of December 31, 2023
Existing technology	10	$	112,051	$	(45,331)	$	(4,328)	$	62,392
Customer relationships	10	21,500		(8,063)		—		13,437
Trademarks and tradenames	10	16,600		(7,605)		(4,122)		4,873
Patents	8	6,511		(6,082)		—		429
		$	156,662	$	(67,081)	$	(8,450)	81,131
Foreign currency translation adjustments								987
Total intangible assets, net 1								$	82,118

1 Also includes $34.3 million of fully amortized intangible assets related to customer relationships.


	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.

For the year ended December 31, 2023 and 2022, we did not identify any impairment triggering events that would indicate that the carrying value of our finite-lived intangible assets was not recoverable.

The total estimated annual future amortization expense for these acquired intangible assets as of December 31, 2023 is as follows (in thousands):


Fiscal Year	Amortization
2024	$	15,335
2025	14,959
2026	14,353
2027	11,992
2028	10,890
Thereafter	13,602
Total	$	81,131

Amortization expense was $16.4 million, $16.0 million and $16.6 million for the year ended December 31, 2023, 2022 and 2021, respectively.

Net Income per Share

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Net Income 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.

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,
	2023		2022		2021
Numerator:
Net income	$	445,053	$	361,573	$	772,020
Denominator:
Weighted average common shares outstanding, basic	76,426		78,190		78,917
Dilutive effect of potential common stock	142		230		753
Total shares, diluted	76,568		78,420		79,670

Net income per share, basic	$	5.82	$	4.62	$	9.78
Net income per share, diluted	$	5.81	$	4.61	$	9.69

Anti-dilutive potential common shares 1	293		320		1

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

Legal Proceedings (Details) $ in Millions				1 Months Ended
Legal Proceedings (Details) $ in Millions	Sep. 08, 2023 USD ($)	Oct. 27, 2022 USD ($)	Mar. 12, 2021 USD ($)	Jan. 31, 2019 claim
Commitments and Contingencies Disclosure [Abstract]
Loss contingency, new claims filed \| claim				3
Amount awarded \| $	$ 63.0	$ 63.0	$ 43.4

Cover - USD ($) $ in Billions	12 Months Ended
Cover - USD ($) $ in Billions	Dec. 31, 2023	Feb. 22, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
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
Document Financial Statement Error Correction	false
Entity Shell Company	false
Entity Public Float			$ 13.7
Entity Common Stock, Shares Outstanding (shares)		75,104,132
Amendment Flag	false
Document Fiscal Year Focus	2023
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 2024 Annual Stockholders’ Meeting to be filed pursuant to Regulation 14A within 120 days after the registrant’s fiscal year end of December 31, 2023 are incorporated by reference into Part III of this Annual Report on Form 10-K.

Goodwill and Intangible Assets - Intangible Assets (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 156,662	$ 157,262
Accumulated Amortization	(67,081)	(51,180)
Accumulated Impairment Loss	(8,450)	(8,450)
Total	81,131	97,632
Foreign currency translation adjustments	987	(1,912)
Total	82,118	$ 95,720
Intangible assets, fully amortized	$ 34,300
Existing technology
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives of intangibles	10 years	10 years
Gross Carrying Amount	$ 112,051	$ 112,051
Accumulated Amortization	(45,331)	(33,537)
Accumulated Impairment Loss	(4,328)	(4,328)
Total	$ 62,392	$ 74,186
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives of intangibles	10 years	10 years
Gross Carrying Amount	$ 21,500	$ 21,500
Accumulated Amortization	(8,063)	(5,913)
Accumulated Impairment Loss	0	0
Total	$ 13,437	15,587
Intangible assets, fully amortized		$ 33,500
Trademarks and tradenames
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives of intangibles	10 years	10 years
Gross Carrying Amount	$ 16,600	$ 17,200
Accumulated Amortization	(7,605)	(6,442)
Accumulated Impairment Loss	(4,122)	(4,122)
Total	$ 4,873	$ 6,636
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	(6,082)	(5,288)
Accumulated Impairment Loss	0	0
Total	$ 429	$ 1,223

Stockholders' Equity - Additional Information (Detail) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2023 USD ($) $ / shares shares	Dec. 31, 2023 USD ($) purchase_period $ / shares shares	Dec. 31, 2022 USD ($) $ / shares	Dec. 31, 2021 USD ($) $ / shares	May 31, 2021 shares
Stockholders Equity Note [Line Items]
Stock-based compensation, income tax benefit \| $		$ 17,100	$ 14,900	$ 13,800
Stock-based compensation expense \| $		$ 154,026	133,367	114,336
Restricted Stock Units (RSUs)
Stockholders Equity Note [Line Items]
Vesting period		4 years
Restricted stock units, shares vested and released (shares)		201,358
Restricted stock units, shares withheld for tax payments		61,267
Restricted stock units, net issuance (in shares)		140,091
Vested in period, Fair value \| $		$ 63,000	$ 93,700	$ 158,800
Weighted average grant date fair value of awards granted (usd per share) \| $ / shares		$ 316.16	$ 469.12	$ 600.10
Total unamortized compensation cost \| $	$ 174,300	$ 174,300
Weighted average period of total unamortized cost		2 years 7 months 6 days
Awards granted (in shares)		509,000
Market Performance Based Restricted Stock Units
Stockholders Equity Note [Line Items]
Vesting period		3 years
Restricted stock units, shares vested and released (shares)		24,578
Restricted stock units, shares withheld for tax payments		10,480
Restricted stock units, net issuance (in shares)		14,098
Vested in period, Fair value \| $		$ 7,800	$ 64,000	$ 135,600
Weighted average grant date fair value of awards granted (usd per share) \| $ / shares		$ 629.53
Total unamortized compensation cost \| $	$ 47,500	$ 47,500
Weighted average period of total unamortized cost		1 year 4 months 24 days
Percentage of market-performance based restricted stock units eligible to vest over the vesting period		250.00%
Awards granted (in shares)		82,000
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)	32,168,895	32,168,895
Number of shares available for grant (shares)	4,796,559	4,796,559
Employee Stock Purchase Plan
Stockholders Equity Note [Line Items]
Number of shares available for grant (shares)	1,995,453	1,995,453
Total unamortized compensation cost \| $	$ 6,800	$ 6,800
Weighted average period of total unamortized cost		7 months 6 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 \| $		$ 20,500	$ 23,500	$ 12,200

Financial Instruments - Contractual Maturity of Marketable Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Investments, All Other Investments [Abstract]
Due in 1 year or less	$ 34,617	$ 51,037
Due in 1 year through 5 years	8,709	48,475
Total	$ 43,326	$ 99,512

Income Taxes - Domestic and Foreign Components of Income (loss) Before Provision for Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Domestic	$ 315,643	$ 268,097	$ 378,478
Foreign	325,561	330,960	633,945
Net income before provision for income taxes	$ 641,204	$ 599,057	$ 1,012,423

- 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
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(11))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479557/942-235-S99-1

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 25
-Paragraph 1
-SubTopic 20
-Topic 940
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481913/940-20-25-1

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

+ Details

Segments and Geographical Information - Segments Information - (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Net revenues	$ 3,862,260	$ 3,734,635	$ 3,952,584
Gross profit	2,706,863	2,633,775	2,935,355
Income from operations	643,338	642,595	976,400
Stock-based compensation	154,026	133,367	114,336
Depreciation and amortization	142,401	125,793	108,729
Operating Segments
Segment Reporting Information [Line Items]
Income from operations	1,373,612	1,314,185	1,584,993
Unallocated corporate expense
Segment Reporting Information [Line Items]
Income from operations	(730,274)	(671,590)	(608,593)
Stock-based compensation	138,770	117,557	102,983
Depreciation and amortization	46,102	39,605	36,425
Clear Aligner
Segment Reporting Information [Line Items]
Net revenues	3,199,329	3,072,585	3,247,080
Gross profit	2,288,038	2,228,170	2,474,373
Clear Aligner \| Operating Segments
Segment Reporting Information [Line Items]
Income from operations	1,182,257	1,134,420	1,325,866
Stock-based compensation	13,963	14,816	10,648
Depreciation and amortization	64,781	57,888	50,723
Systems and Services
Segment Reporting Information [Line Items]
Net revenues	662,931	662,050	705,504
Gross profit	418,825	405,605	460,982
Systems and Services \| Operating Segments
Segment Reporting Information [Line Items]
Income from operations	191,355	179,765	259,127
Stock-based compensation	1,293	994	705
Depreciation and amortization	$ 31,518	$ 28,300	$ 21,581

Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2023

Investments, All Other Investments [Abstract]

Cash and Cash Equivalents

The following tables summarize our cash and cash equivalents, and marketable securities recorded in our Consolidated Balance Sheets as of December 31, 2023 and 2022 (in thousands):


									Reported as:
December 31, 2023	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Cash and cash equivalents		Marketable securities, short-term		Marketable securities, long-term
Cash	$	887,682	$	—	$	—	$	887,682	$	887,682	$	—	$	—
Money market funds	49,756		—		—		49,756		49,756		—		—
Corporate bonds	31,943		5		(676)		31,272		—		28,704		2,568
U.S. government treasury bonds	4,855		—		(99)		4,756		—		—		4,756
Asset-backed securities	1,416		2		(1)		1,417		—		719		698
Municipal bonds	702		—		(2)		700		—		700		—
U.S. government agency bonds	5,215		—		(34)		5,181		—		5,181		—

Total	$	981,569	$	7	$	(812)	$	980,764	$	937,438	$	35,304	$	8,022


									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

Marketable Securities

The following tables summarize our cash and cash equivalents, and marketable securities recorded in our Consolidated Balance Sheets as of December 31, 2023 and 2022 (in thousands):


									Reported as:
December 31, 2023	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Cash and cash equivalents		Marketable securities, short-term		Marketable securities, long-term
Cash	$	887,682	$	—	$	—	$	887,682	$	887,682	$	—	$	—
Money market funds	49,756		—		—		49,756		49,756		—		—
Corporate bonds	31,943		5		(676)		31,272		—		28,704		2,568
U.S. government treasury bonds	4,855		—		(99)		4,756		—		—		4,756
Asset-backed securities	1,416		2		(1)		1,417		—		719		698
Municipal bonds	702		—		(2)		700		—		700		—
U.S. government agency bonds	5,215		—		(34)		5,181		—		5,181		—

Total	$	981,569	$	7	$	(812)	$	980,764	$	937,438	$	35,304	$	8,022


									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

Contractual Maturity of Marketable Securities

The following tables summarizes the fair value of our available-for-sale marketable securities classified by contractual maturity as of December 31, 2023 and 2022 (in thousands):


	December 31,
	2023		2022
Due in 1 year or less	$	34,617	$	51,037
Due in 1 year through 5 years	8,709		48,475
Total	$	43,326	$	99,512

Unrealized Losses for Investments in a Continuous Unrealized Loss Position

The following tables summarize the gross unrealized losses as of December 31, 2023 and 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, 2023
	Less than 12 months				12 Months or Greater				Total
December 31, 2023	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss			Fair Value		Unrealized Loss
Corporate bonds	$	—	$	—	$	27,939	$	(676)		$	27,939	$	(676)
U.S. government treasury bonds	2,044		(11)		2,712		(88)			4,756		(99)
Asset-backed securities	1,018		(1)		83		—			1,101		(1)
Municipal bonds	—		—		700		(2)			700		(2)
U.S. government agency bonds	4,003		(11)		1,178		(23)			5,181		(34)

Total	$	7,065	$	(23)	$	32,612	$	(789)		$	39,677	$	(812)

Financial Assets Measured At Fair Value On A Recurring Basis

The following tables summarize our financial assets measured at fair value and categorized by fair value hierarchy as of December 31, 2023 and 2022 (in thousands):


Description	Balance as of December 31, 2023		Level 1		Level 2
Cash equivalents:
Money market funds	$	49,756	$	49,756	$	—


Short-term investments:

Corporate bonds	28,704		—		28,704
Municipal bonds	700		—		700
U.S. government agency bonds	5,181		—		5,181
Asset-backed securities	719		—		719
Long-term investments:
U.S. government treasury bonds	4,756		—		4,756
Corporate bonds	2,568		—		2,568


Asset-backed securities	698		—		698




	$	93,082	$	49,756	$	43,326


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

Schedule of Notional Amounts of Outstanding Derivative Positions

The following tables present the gross notional value of all our foreign exchange forward contracts outstanding as of December 31, 2023 and 2022 (in thousands):


	December 31, 2023
	Local Currency Amount	Notional Contract Amount (USD)
Euro	€337,780	$	373,705
Canadian Dollar	C$108,900	82,166
Polish Zloty	PLN276,900	70,393
British Pound	£45,590	58,005
Chinese Yuan	¥244,500	34,361
Swiss Franc	CHF28,600	34,132
Japanese Yen	¥3,577,000	25,347
Israeli Shekel	ILS78,700	21,800
Brazilian Real	R$80,500	16,563
Mexican Peso	M$230,000	13,593
New Zealand Dollar	NZ$6,600	4,161
Australian Dollar	A$4,300	2,921
New Taiwan Dollar	NT$89,000	2,919
Czech Koruna	Kč60,200	2,687
Korean Won	₩2,200,000	1,709
		$	744,462


	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

Segments and Geographical Information (Tables)

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

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


	Year Ended December 31,
	2023		2022		2021
Net revenues

Clear Aligner	$	3,199,329	$	3,072,585	$	3,247,080
Systems and Services	662,931		662,050		705,504



Total net revenues	$	3,862,260	$	3,734,635	$	3,952,584
Gross profit
Clear Aligner	$	2,288,038	$	2,228,170	$	2,474,373
Systems and Services	418,825		405,605		460,982
Total gross profit	$	2,706,863	$	2,633,775	$	2,935,355
Income from operations
Clear Aligner	$	1,182,257	$	1,134,420	$	1,325,866
Systems and Services	191,355		179,765		259,127
Unallocated corporate expenses	(730,274)		(671,590)		(608,593)
Total income from operations	$	643,338	$	642,595	$	976,400
Stock-based compensation
Clear Aligner	$	13,963	$	14,816	$	10,648
Systems and Services	1,293		994		705
Unallocated corporate expenses	138,770		117,557		102,983
Total stock-based compensation	$	154,026	$	133,367	$	114,336
Depreciation and amortization
Clear Aligner	$	64,781	$	57,888	$	50,723
Systems and Services	31,518		28,300		21,581
Unallocated corporate expenses	46,102		39,605		36,425
Total depreciation and amortization	$	142,401	$	125,793	$	108,729

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,
	2023		2022		2021
Total segment income from operations	$	1,373,612	$	1,314,185	$	1,584,993
Unallocated corporate expenses	(730,274)		(671,590)		(608,593)
Total income from operations	643,338		642,595		976,400
Interest income	17,258		5,367		3,103
Other income (expense), net	(19,392)		(48,905)		32,920
Net income before provision for (benefit from) income taxes	$	641,204	$	599,057	$	1,012,423

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,
	2023		2022		2021
Net revenues 1:
U.S.	$	1,665,925	$	1,660,045	$	1,724,296
Switzerland	1,168,320		1,216,094		1,353,229
Other International	1,028,015		858,496		875,059
Total net revenues	$	3,862,260	$	3,734,635	$	3,952,584

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

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,
	2023		2022
Long-lived assets 1:
Switzerland	$	575,432	$	532,921
U.S.	210,275		214,804
Other International	623,155		603,010
Total long-lived assets	$	1,408,862	$	1,350,735

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

Financial Instruments - Fair Value Measured On A Recurring Basis (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Marketable securities, short-term	$ 35,304	$ 57,534
Marketable securities, long-term	8,022	41,978
Assets measured at fair value	93,082	328,641
Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Assets measured at fair value	49,756	249,139
Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Assets measured at fair value	43,326	79,502
Money market funds \| Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Cash equivalents	49,756	229,129
Money market funds \| Fair Value, Measurements, Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Cash equivalents	49,756	229,129
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]
Marketable securities, short-term	28,704	36,510
Marketable securities, long-term	2,568	29,965
Corporate bonds \| 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
Corporate bonds \| Fair Value, Measurements, Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Marketable securities, short-term	28,704	36,510
Marketable securities, long-term	2,568	29,965
Municipal bonds \| Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Marketable securities, short-term	700	2,711
Marketable securities, long-term		675
Municipal bonds \| 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
Municipal bonds \| Fair Value, Measurements, Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Marketable securities, short-term	700	2,711
Marketable securities, long-term		675
U.S. government agency bonds \| Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Marketable securities, short-term	5,181
Marketable securities, long-term		5,163
U.S. government agency bonds \| Fair Value, Measurements, Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Marketable securities, short-term	0
Marketable securities, long-term		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, short-term	5,181
Marketable securities, long-term		5,163
Asset-backed securities \| Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Marketable securities, short-term	719	2,909
Marketable securities, long-term	698	1,569
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	719	2,909
Marketable securities, long-term	698	1,569
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
Marketable securities, long-term	4,756	4,606
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
Marketable securities, long-term	0	4,606
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
Marketable securities, long-term	$ 4,756	$ 0

Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2023

Stock-based Compensation Expense

Stock-based compensation related to our stock-based awards and employee stock purchase plan for the year ended December 31, 2023, 2022 and 2021 is as follows (in thousands):


	Year Ended December 31,
	2023		2022		2021
Cost of net revenues	$	7,462	$	6,438	$	5,633
Selling, general and administrative	115,992		103,134		90,659

Research and development	30,572		23,795		18,044
Total stock-based compensation	$	154,026	$	133,367	$	114,336

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,
	2023			2022			2021
Expected term (in years)	3.0			3.0			3.0
Expected volatility	59.1		%	53.8		%	56.3		%
Risk-free interest rate	4.3		%	1.7		%	0.2		%
Expected dividends	—			—			—
Weighted average fair value per share at grant date	$	629.53		$	915.22		$	1,102.09

Schedule of ESPP share activity

The following table summarizes the ESPP shares issued:


	Year Ended December 31,
	2023		2022		2021
Number of shares issued (in thousands)	114		86		131
Weighted average price	$	234.19	$	305.24	$	195.44

Schedule of Weighted Average Assumptions

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,
	2023			2022			2021
Expected term (in years)	1.2			1.5			1.1
Expected volatility	56.4		%	50.2		%	52.7		%
Risk-free interest rate	4.9		%	1.8		%	0.1		%
Expected dividends	—			—			—
Weighted average fair value at grant date	$	132.94		$	159.44		$	246.84

Restricted Stock Units (RSUs)

Summary of Nonvested Shares

A summary for the year ended December 31, 2023 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, 2022	489	$	427.23
Granted	509	316.16
Vested and released	(201)	376.41
Forfeited	(61)	386.66
Unvested as of December 31, 2023	736	$	367.63	1.4	$	201,789

Market Performance Based Restricted Stock Units

Summary of Nonvested Shares

The following table summarizes MSU activity for the year ended December 31, 2023:


	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, 2022	144	$	725.73
Granted	82	629.53
Vested and released	(25)	392.67
Forfeited	(43)	423.87
Unvested as of December 31, 2023	158	$	811.06	1.4	$	43,197

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, £ 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, 2023 USD ($)	Dec. 31, 2023 EUR (€)	Dec. 31, 2023 CAD ($)	Dec. 31, 2023 PLN (zł)	Dec. 31, 2023 GBP (£)	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 CHF (SFr)	Dec. 31, 2023 JPY (¥)	Dec. 31, 2023 ILS (₪)	Dec. 31, 2023 BRL (R$)	Dec. 31, 2023 MXN ($)	Dec. 31, 2023 NZD ($)	Dec. 31, 2023 AUD ($)	Dec. 31, 2023 TWD ($)	Dec. 31, 2023 CZK (Kč)	Dec. 31, 2023 KPW (₩)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 EUR (€)	Dec. 31, 2022 CAD ($)	Dec. 31, 2022 PLN (zł)	Dec. 31, 2022 GBP (£)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 CHF (SFr)	Dec. 31, 2022 JPY (¥)	Dec. 31, 2022 ILS (₪)	Dec. 31, 2022 BRL (R$)	Dec. 31, 2022 MXN ($)	Dec. 31, 2022 NZD ($)	Dec. 31, 2022 AUD ($)	Dec. 31, 2022 TWD ($)	Dec. 31, 2022 CZK (Kč)
Derivative [Line Items]
Notional amount	$ 744,462																$ 637,015
Euro
Derivative [Line Items]
Notional amount	373,705	€ 337,780															200,010	€ 186,900
Canadian Dollar
Derivative [Line Items]
Notional amount	82,166		$ 108,900														80,514		$ 109,000
Polish Zloty
Derivative [Line Items]
Notional amount	70,393			zł 276,900													83,307			zł 365,988
British Pound
Derivative [Line Items]
Notional amount	58,005				£ 45,590												49,677				£ 41,200
Chinese Yuan
Derivative [Line Items]
Notional amount	34,361					¥ 244,500											68,223					¥ 471,000
Swiss Franc
Derivative [Line Items]
Notional amount	34,132						SFr 28,600										27,165						SFr 25,000
Japanese Yen
Derivative [Line Items]
Notional amount	25,347							¥ 3,577,000									47,196							¥ 6,200,000
Israeli Shekel
Derivative [Line Items]
Notional amount	21,800								₪ 78,700								31,383								₪ 110,030
Brazilian Real
Derivative [Line Items]
Notional amount	16,563									R$ 80,500							26,839									R$ 141,200
Mexican Peso
Derivative [Line Items]
Notional amount	13,593										$ 230,000						11,746										$ 230,000
New Zealand Dollar
Derivative [Line Items]
Notional amount	4,161											$ 6,600					3,806											$ 6,000
Australian Dollar
Derivative [Line Items]
Notional amount	2,921												$ 4,300				2,721												$ 4,000
New Taiwan Dollar
Derivative [Line Items]
Notional amount	2,919													$ 89,000			1,959													$ 60,000
Czech Koruna
Derivative [Line Items]
Notional amount	2,687														Kč 60,200		$ 2,469														Kč 56,000
Korean Won
Derivative [Line Items]
Notional amount	$ 1,709															₩ 2,200,000

Leases - Property, Plant and Equipment Under Operating Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Scanners under operating leases, gross	$ 27,145	$ 22,914
Less: accumulated depreciation	(9,815)	(3,919)
Scanners under operating leases, net	$ 17,330	$ 18,995

Stockholders' Equity

12 Months Ended

Dec. 31, 2023

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 Company’s Board of Directors. We have not historically 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, 2023, the 2005 Incentive Plan, as amended, has a total reserve of 32,168,895 shares for issuance of which 4,796,559 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

Stock-based compensation related to our stock-based awards and employee stock purchase plan for the year ended December 31, 2023, 2022 and 2021 is as follows (in thousands):


	Year Ended December 31,
	2023		2022		2021
Cost of net revenues	$	7,462	$	6,438	$	5,633
Selling, general and administrative	115,992		103,134		90,659

Research and development	30,572		23,795		18,044
Total stock-based compensation	$	154,026	$	133,367	$	114,336

The income tax benefit related to stock-based compensation was $17.1 million, $14.9 million and $13.8 million for the year ended December 31, 2023, 2022 and 2021, 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, 2023 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, 2022	489	$	427.23
Granted	509	316.16
Vested and released	(201)	376.41
Forfeited	(61)	386.66
Unvested as of December 31, 2023	736	$	367.63	1.4	$	201,789

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 fiscal year 2023 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 fiscal year 2023. This amount will fluctuate based on the fair market value of our stock. During 2023, of the 201,358 shares vested and released, 61,267 shares were withheld for employee statutory tax obligations, resulting in a net issuance of 140,091 shares.

The total fair value of RSUs vested as of their respective vesting dates during 2023, 2022 and 2021 was $63.0 million, $93.7 million and $158.8 million, respectively. The weighted average grant date fair value of RSUs granted during 2023, 2022 and 2021 was $316.16, $469.12 and $600.10, respectively. As of December 31, 2023, we expect to recognize $174.3 million of total unamortized compensation costs, net of estimated forfeitures, related to RSUs over a weighted average period of 2.6 years.

Market 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 MSU activity for the year ended December 31, 2023:


	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, 2022	144	$	725.73
Granted	82	629.53
Vested and released	(25)	392.67
Forfeited	(43)	423.87
Unvested as of December 31, 2023	158	$	811.06	1.4	$	43,197

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 2023 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 2023. This amount will fluctuate based on the fair

market value of our stock. During 2023, of the 24,578 shares vested and released, 10,480 shares were withheld for employee statutory tax obligations, resulting in a net issuance of 14,098 shares.

The total fair value of MSUs vested as of their respective vesting dates during 2023, 2022 and 2021 was $7.8 million, $64.0 million and $135.6 million, respectively. As of December 31, 2023, we expect to recognize $47.5 million of total unamortized compensation costs, net of estimated forfeitures, related to MSUs over a weighted average period of 1.4 years.

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,
	2023			2022			2021
Expected term (in years)	3.0			3.0			3.0
Expected volatility	59.1		%	53.8		%	56.3		%
Risk-free interest rate	4.3		%	1.7		%	0.2		%
Expected dividends	—			—			—
Weighted average fair value per share at grant date	$	629.53		$	915.22		$	1,102.09

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 (grant date) 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,
	2023		2022		2021
Number of shares issued (in thousands)	114		86		131
Weighted average price	$	234.19	$	305.24	$	195.44

As of December 31, 2023, 1,995,453 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,
	2023			2022			2021
Expected term (in years)	1.2			1.5			1.1
Expected volatility	56.4		%	50.2		%	52.7		%
Risk-free interest rate	4.9		%	1.8		%	0.1		%
Expected dividends	—			—			—
Weighted average fair value at grant date	$	132.94		$	159.44		$	246.84

We recognized stock-based compensation related to our employee stock purchase plan of $20.5 million, $23.5 million and $12.2 million for the year ended December 31, 2023, 2022 and 2021, respectively. As of December 31, 2023, we expect to recognize $6.8 million of total unamortized compensation costs related to future employee stock purchases over a weighted average period of 0.6 years.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481004/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
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-URI https://asc.fasb.org//1943274/2147480237/815-40-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (SX 210.3-04)
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
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-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (g)
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-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (a)
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-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Section 50
-Paragraph 14
-Subparagraph (c)
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-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Section 50
-Paragraph 18
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

+ Details

Balance Sheet Components (Tables)

12 Months Ended

Dec. 31, 2023

Balance Sheet Related Disclosures [Abstract]

Schedule of Inventories

Inventories consist of the following (in thousands):


	December 31,
	2023		2022
Raw materials	$	145,492	$	172,758
Work in progress	91,259		96,558
Finished goods	60,151		69,436
Total inventories	$	296,902	$	338,752

Schedule of Prepaid Expenses and Other Current Assets

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


	December 31,
	2023		2022
Value added tax receivables	$	143,728	$	140,484
Prepaid expenses	52,487		69,124
Other current assets	77,335		16,762
Total prepaid expenses and other current assets	$	273,550	$	226,370

Property, Plant and Equipment

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


		December 31,
	Generally Used Estimated Useful Life	2023		2022
Clinical and manufacturing equipment	Up to 13 years	$	703,805	$	583,776
Building	20 years	517,554		466,003
Leasehold improvements	Lease term 1	62,216		64,238
Computer software and hardware	3 years	125,633		120,544
Land	—	63,875		58,885
Furniture, fixtures and other	2-5 years	122,820		102,933
Construction in progress	—	245,722		285,202
Total		1,841,625		1,681,581
Less: Accumulated depreciation and impairment charges		(550,762)		(449,726)
Total property, plant and equipment, net		$	1,290,863	$	1,231,855

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,
	2023		2022
Accrued payroll and benefits	$	220,862	$	149,508
Accrued expenses	71,109		64,341
Accrued income taxes	38,103		74,323
Accrued sales and marketing expenses	34,035		36,407
Current operating lease liabilities	29,651		26,574
Accrued property, plant and equipment	23,618		19,922

Other accrued liabilities	108,402		83,299
Total accrued liabilities	$	525,780	$	454,374

Warranty accrual


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
Charged to cost of net revenues	18,248
Actual warranty expenditures	(13,695)
Accrued warranty as of December 31, 2023	$	22,426

Deferred Revenues

Deferred revenues consist of the following (in thousands):


	December 31,
	2023		2022
Deferred revenues - current	$	1,427,706	$	1,343,643
Deferred revenues - long-term 1	138,000		160,662

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

Leases - Summary of Operating Lease Terms and Discount Rates (Details)	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Weighted average remaining lease term (in years)	6 years 2 months 12 days	7 years 2 months 12 days
Weighted average discount rate	3.70%	3.50%

Income Taxes - Differences Between Income Taxes Using Federal Statutory Income Tax Rate and Effective Tax Rate (Detail)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
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	2.90%	3.70%	2.20%
U.S. tax on foreign earnings	3.70%	5.60%	2.50%
Impact of differences in foreign tax rates	1.40%	3.30%	(2.00%)
Stock-based compensation	3.00%	2.10%	(0.30%)
Settlement on audits	0.10%	1.90%	0.00%
Change in valuation allowance	(1.30%)	1.70%	1.10%
Other items not individually material	(0.20%)	0.30%	(0.80%)
Effective tax rate	30.60%	39.60%	23.70%

Credit Facility	12 Months Ended
Credit Facility	Dec. 31, 2023
Debt Disclosure [Abstract]
Credit Facility	Credit Facility We 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, 2023, 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://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
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+ Details

Stockholders' Equity - Weighted-Average Assumptions Used in the Monte Carlo Simulation (Detail) - Market Performance Based Restricted Stock Units - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	3 years	3 years	3 years
Expected volatility	59.10%	53.80%	56.30%
Risk-free interest rate	4.30%	1.70%	0.20%
Expected dividends	0.00%	0.00%	0.00%
Weighted average fair value per share at grant date (usd per share)	$ 629.53	$ 915.22	$ 1,102.09

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Paragraph 1D
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+ Details

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2023
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Cubicure GmbH Acquisition The Company had a pre-existing ownership interest of approximately nine percent in privately-held Cubicure GmbH (“Cubicure”), a pioneer in direct 3D printing solutions for polymer additive manufacturing that develops, produces, and distributes innovative materials, equipment, and processes for novel 3D printing solutions. On January 2, 2024, we acquired the remaining ninety-one percent of Cubicure’s outstanding equity interest for approximately $87 million subject to final closing adjustments and adjustments for Align’s existing ownership of capital stock of Cubicure. The purchase price was funded with cash on hand. The acquisition of Cubicure will support and scale our strategic innovation roadmap and strengthen the Align Digital Platform. Cubicure will also extend and scale Align’s printing, materials, and manufacturing capabilities for our 3D printed product portfolio. We are currently evaluating the purchase price allocation. It is not practicable to disclose the preliminary purchase price allocation, given the short period of time between the acquisition date and the issuance of these consolidated financial statements.

Leases - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Lessee, Lease, Description [Line Items]
Operating leases that have not yet commenced	$ 13.3
Operating lease income	$ 16.6	$ 12.3	$ 0.0
Operating lease income, location	Net revenues	Net revenues	Net revenues
Minimum
Lessee, Lease, Description [Line Items]
Term of operating leases not yet commenced	2 years
Maximum
Lessee, Lease, Description [Line Items]
Term of operating leases not yet commenced	5 years

Net Income per Share (Tables)

12 Months Ended

Dec. 31, 2023

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,
	2023		2022		2021
Numerator:
Net income	$	445,053	$	361,573	$	772,020
Denominator:
Weighted average common shares outstanding, basic	76,426		78,190		78,917
Dilutive effect of potential common stock	142		230		753
Total shares, diluted	76,568		78,420		79,670

Net income per share, basic	$	5.82	$	4.62	$	9.78
Net income per share, diluted	$	5.81	$	4.61	$	9.69

Anti-dilutive potential common shares 1	293		320		1

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

Financial Instruments - Unrealized Losses for Investments in a Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Debt Securities, Available-for-Sale, Unrealized Loss Position [Line Items]
Less than 12 months, fair value	$ 7,065	$ 21,554
12 months or greater, fair value	32,612	74,205
Fair value	39,677	95,759
Less than 12 months, unrealized loss	(23)	(639)
12 months or greater, unrealized loss	(789)	(2,992)
Unrealized loss	(812)	(3,631)
Corporate bonds
Debt Securities, Available-for-Sale, Unrealized Loss Position [Line Items]
Less than 12 months, fair value	0	10,639
12 months or greater, fair value	27,939	54,634
Fair value	27,939	65,273
Less than 12 months, unrealized loss	0	(440)
12 months or greater, unrealized loss	(676)	(2,475)
Unrealized loss	(676)	(2,915)
U.S. government treasury bonds
Debt Securities, Available-for-Sale, Unrealized Loss Position [Line Items]
Less than 12 months, fair value	2,044	5,262
12 months or greater, fair value	2,712	14,748
Fair value	4,756	20,010
Less than 12 months, unrealized loss	(11)	(177)
12 months or greater, unrealized loss	(88)	(372)
Unrealized loss	(99)	(549)
Asset-backed securities
Debt Securities, Available-for-Sale, Unrealized Loss Position [Line Items]
Less than 12 months, fair value	1,018	2,636
12 months or greater, fair value	83	1,275
Fair value	1,101	3,911
Less than 12 months, unrealized loss	(1)	(17)
12 months or greater, unrealized loss	0	(20)
Unrealized loss	(1)	(37)
Municipal bonds
Debt Securities, Available-for-Sale, Unrealized Loss Position [Line Items]
Less than 12 months, fair value	0	0
12 months or greater, fair value	700	2,412
Fair value	700	2,412
Less than 12 months, unrealized loss	0	0
12 months or greater, unrealized loss	(2)	(61)
Unrealized loss	(2)	(61)
U.S. government agency bonds
Debt Securities, Available-for-Sale, Unrealized Loss Position [Line Items]
Less than 12 months, fair value	4,003	3,017
12 months or greater, fair value	1,178	1,136
Fair value	5,181	4,153
Less than 12 months, unrealized loss	(11)	(5)
12 months or greater, unrealized loss	(23)	(64)
Unrealized loss	$ (34)	$ (69)

Supplemental Cash Flow Information (Tables)

12 Months Ended

Dec. 31, 2023

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,
	2023		2022		2021
Taxes paid	$	294,569	$	231,884	$	203,309
Non-cash investing and financing activities:
Acquisition of property, plant and equipment in accounts payable and accrued liabilities	$	32,280	$	35,767	$	64,135
Final settlement of prior year stock repurchase forward contract	$	40,000	$	—	$	—
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	33,714	$	31,015	$	29,769
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	27,901	$	34,144	$	68,463

Stockholders' Equity - Weighted Average Assumptions (Detail) - Employee Stock Purchase Plan - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	1 year 2 months 12 days	1 year 6 months	1 year 1 month 6 days
Expected volatility	56.40%	50.20%	52.70%
Risk-free interest rate	4.90%	1.80%	0.10%
Expected dividends	0.00%	0.00%	0.00%
Weighted average fair value at grant date (usd per share)	$ 132.94	$ 159.44	$ 246.84

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Taxes [Line Items]
Deferred tax assets, valuation allowance	$ 14,991	$ 23,286
Decrease in valuation allowance	8,300
Unrecognized tax benefits	149,172	$ 141,560	$ 63,295	$ 46,320
Unrecognized tax benefits that would impact effective tax rate	140,000
Foreign Country
Income Taxes [Line Items]
Net operating loss carryforwards	$ 3,700

Credit Facility (Details) - 2020 Credit Facility	Dec. 31, 2023 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

Leases

12 Months Ended

Dec. 31, 2023

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	2023		2022		2021
Operating lease cost 1	$	44,614	$	37,919	$	33,241
Variable lease cost 2	16,013		22,084		11,134
Total lease cost	$	60,627	$	60,003	$	44,375

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	2023		2022

Weighted average remaining lease term (in years)	6.2		7.2


Weighted average discount rate	3.7	%	3.5	%

As of December 31, 2023, the future payments related to our operating lease liabilities are as follows (in thousands):


Fiscal Year Ending December 31,	Operating Leases
2024	$	33,838
2025	28,381
2026	22,449
2027	16,933
2028	12,746
Thereafter	25,901
Total lease payments	140,248
Less: Imputed interest	(13,629)
Total lease liabilities	$	126,619

As of December 31, 2023, we had additional leases that have not yet commenced with future lease payments of $13.3 million. These leases will commence during 2024 with non-cancelable lease terms of two to five 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,
	2023		2022
Scanners under operating leases, gross	$	27,145	$	22,914
Less: accumulated depreciation	(9,815)		(3,919)
Scanners under operating leases, net	$	17,330	$	18,995

As of December 31, 2023, the future lease payments due to us are as follows (in thousands):


Fiscal Year Ending December 31,	Operating Leases
2024	$	22,737
2025	18,170
2026	8,908



Total lease payments	$	49,815

For the year ended December 31, 2023 and 2022, operating lease income was $16.6 million and $12.3 million, respectively and for the year ended December 31, 2021, operating lease income was not material. Operating lease income is recorded in net revenues in our Consolidated Statements of Operations.

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	2023		2022		2021
Operating lease cost 1	$	44,614	$	37,919	$	33,241
Variable lease cost 2	16,013		22,084		11,134
Total lease cost	$	60,627	$	60,003	$	44,375

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	2023		2022

Weighted average remaining lease term (in years)	6.2		7.2


Weighted average discount rate	3.7	%	3.5	%

As of December 31, 2023, the future payments related to our operating lease liabilities are as follows (in thousands):


Fiscal Year Ending December 31,	Operating Leases
2024	$	33,838
2025	28,381
2026	22,449
2027	16,933
2028	12,746
Thereafter	25,901
Total lease payments	140,248
Less: Imputed interest	(13,629)
Total lease liabilities	$	126,619

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,
	2023		2022
Scanners under operating leases, gross	$	27,145	$	22,914
Less: accumulated depreciation	(9,815)		(3,919)
Scanners under operating leases, net	$	17,330	$	18,995

As of December 31, 2023, the future lease payments due to us are as follows (in thousands):


Fiscal Year Ending December 31,	Operating Leases
2024	$	22,737
2025	18,170
2026	8,908



Total lease payments	$	49,815

Segments and Geographical Information - Segment Reconciliation and Net Revenues by Geographic Area (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Income from operations	$ 643,338	$ 642,595	$ 976,400
Interest income	17,258	5,367	3,103
Other income (expense), net	(19,392)	(48,905)	32,920
Net income before provision for income taxes	641,204	599,057	1,012,423
Net revenues	3,862,260	3,734,635	3,952,584
U.S.
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	1,665,925	1,660,045	1,724,296
Switzerland
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	1,168,320	1,216,094	1,353,229
Other International
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	1,028,015	858,496	875,059
Operating Segments
Revenues from External Customers and Long-Lived Assets [Line Items]
Income from operations	1,373,612	1,314,185	1,584,993
Unallocated corporate expense
Revenues from External Customers and Long-Lived Assets [Line Items]
Income from operations	$ (730,274)	$ (671,590)	$ (608,593)

Income Taxes

12 Months Ended

Dec. 31, 2023

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,
	2023		2022		2021
Domestic	$	315,643	$	268,097	$	378,478
Foreign	325,561		330,960		633,945
Net income before provision for (benefit from) income taxes	$	641,204	$	599,057	$	1,012,423

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


	Year Ended December 31,
	2023		2022		2021
Federal
Current	$	134,332	$	188,050	$	157,383
Deferred	(16,805)		(55,579)		(25,598)
	117,527		132,471		131,785
State
Current	28,535		34,621		28,365
Deferred	(3,157)		(12,265)		(5,860)
	25,378		22,356		22,505
Foreign
Current	51,306		56,537		42,681
Deferred	1,940		26,120		43,432
	53,246		82,657		86,113
Provision for (benefit from) income taxes	$	196,151	$	237,484	$	240,403

The differences between income taxes using the federal statutory income tax rate for the year ended December 31, 2023, 2022 and 2021 and our effective tax rates are as follows:


	Year Ended December 31,
	2023		2022		2021
U.S. federal statutory income tax rate	21.0	%	21.0	%	21.0	%
State income taxes, net of federal tax benefit	2.9		3.7		2.2
U.S. tax on foreign earnings	3.7		5.6		2.5
Impact of differences in foreign tax rates	1.4		3.3		(2.0)
Stock-based compensation	3.0		2.1		(0.3)


Settlement on audits	0.1		1.9		—

Change in valuation allowance	(1.3)		1.7		1.1
Other items not individually material	(0.2)		0.3		(0.8)
Effective tax rate	30.6	%	39.6	%	23.7	%

We intend to reinvest our foreign subsidiary earnings indefinitely outside of the U.S. and do not expect to incur significant additional costs upon repatriation of these foreign earnings.

As of December 31, 2023 and 2022, the significant components of our deferred tax assets and liabilities are (in thousands):


	December 31,
	2023		2022
Deferred tax assets:
Net operating loss and capital loss carryforwards	$	1,389	$	15,380
Reserves and accruals	62,891		32,759
Stock-based compensation	25,054		19,469
Deferred revenue	142,082		117,039
Capitalized research & development	41,505		54,293
Amortizable tax basis in intangibles	1,325,236		1,350,434


Other	13,228		16,645
Deferred tax assets before valuation allowance	1,611,385		1,606,019
Valuation allowance	(14,991)		(23,286)
Total deferred tax assets	1,596,394		1,582,733

Deferred tax liabilities:
Depreciation and amortization	7,814		11,407
Acquisition-related intangibles	25,097		26,008
Other	3,570		3,438
Total deferred tax liabilities	36,481		40,853
Net deferred tax assets	1,559,913		1,541,880

The available positive evidence at December 31, 2023 included historical operating profits and a projection of future income sufficient to realize most of our remaining deferred tax assets. As of December 31, 2023, it was considered more likely than not that our deferred tax assets would be realized with the exception of certain interest expense carryovers, capital loss carryovers and unrealized translation losses as we are unable to forecast sufficient future profits to realize these deferred tax assets. The total valuation allowance as of December 31, 2023 was $15.0 million. During the year ended December 31, 2023, the valuation allowance decreased by $8.3 million primarily due to the deferred tax assets on certain interest expense, net operating loss carryovers, and unrealized translation losses from our German subsidiaries.

As of December 31, 2023, we have foreign net operating loss carryforwards of approximately $3.7 million, attributed mainly to losses in China, Russia, and Germany. The losses in Germany can be carried forward indefinitely. The operating loss carryforwards in China and Russia, if not utilized, will expire beginning 2028 and 2033, respectively.

The changes in the balance of gross unrecognized tax benefits, which exclude interest and penalties, for the year ended December 31, 2023, 2022 and 2021, are as follows (in thousands):


	Year Ended December 31,
	2023		2022		2021
Gross unrecognized tax benefits at January 1,	$	141,560	$	63,295	$	46,320
Increases related to tax positions taken during the current year	8,616		84,249		27,710

Increases related to tax positions taken during a prior year	5,647		15,411		5,471
Decreases related to tax positions taken during a prior year	(533)		(2,647)		(5,804)
Decreases related to expiration of statute of limitations	(3,654)		(4,582)		(8,986)
Decreases related to settlement with tax authorities	(2,464)		(14,166)		(1,416)
Gross unrecognized tax benefits at December 31,	$	149,172	$	141,560	$	63,295

The total amount of gross unrecognized tax benefits as of December 31, 2023 was $149.2 million, of which $140.0 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 2019, respectively. With few exceptions, we are no longer subject to examination by other foreign tax authorities for years before 2016.

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, 2023, 2022 and 2021 as well as accrued as of December 31, 2023 and 2022 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
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Supplemental Cash Flow Information

12 Months Ended

Dec. 31, 2023

Supplemental Cash Flow Information [Abstract]

Supplemental Cash Flow Information

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


	Year Ended December 31,
	2023		2022		2021
Taxes paid	$	294,569	$	231,884	$	203,309
Non-cash investing and financing activities:
Acquisition of property, plant and equipment in accounts payable and accrued liabilities	$	32,280	$	35,767	$	64,135
Final settlement of prior year stock repurchase forward contract	$	40,000	$	—	$	—
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	33,714	$	31,015	$	29,769
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	27,901	$	34,144	$	68,463

Restructuring and Other Charges - Restructuring Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Restructuring Reserve [Roll Forward]
Balance	$ 3,916	$ 0
Restructuring charges	13,989	10,176
Cash payments	(12,606)	(4,807)
Non-cash charges		(1,453)
Balance	5,299	3,916
Severance and related costs
Restructuring Reserve [Roll Forward]
Balance	3,916	0
Restructuring charges	13,989	8,723
Cash payments	(12,606)	(4,807)
Non-cash charges		0
Balance	5,299	3,916
Impairment Charges
Restructuring Reserve [Roll Forward]
Balance	0	0
Restructuring charges	0	1,453
Cash payments	0	0
Non-cash charges		(1,453)
Balance	$ 0	$ 0

Stockholders' Equity - Summary of MSU Performance (Detail) - Market Performance Based Restricted Stock Units - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023
Number of Shares
Nonvested beginning balance (shares)	144,000
Granted (shares)	82,000
Vested and released (shares)	(24,578)
Forfeited (shares)	(43,000)
Nonvested ending balance (shares)	158,000
Nonvested, beginning balance (usd per share)	$ 725.73
Weighted average grant date fair value of awards granted (usd per share)	629.53
Vested and released (usd per share)	392.67
Forfeited (usd per share)	423.87
Nonvested, ending balance (usd per share)	$ 811.06
Weighted Average Remaining Contractual Term
Unvested	1 year 4 months 24 days
Aggregate Intrinsic Value
Unvested	$ 43,197

Employee Benefit Plans (Detail) - USD ($) $ in Millions	12 Months Ended
Employee Benefit Plans (Detail) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Foreign Plan
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]
Employer contributions amount	$ 55.1	$ 54.5	$ 42.3
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	$ 9.5	$ 10.0	$ 8.5

Financial Instruments - Cash, Cash Equivalents and Marketable Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Amortized Cost
Cash, cash equivalents and marketable securities	$ 981,569	$ 1,045,191
Gross Unrealized Gains
Cash, cash equivalents and marketable securities	7	2
Gross Unrealized Losses
Cash, cash equivalents and marketable securities	(812)	(3,631)
Fair Value
Cash and cash equivalents	937,438	942,050
Marketable securities, fair value	43,326	99,512
Cash, cash equivalents and marketable securities	980,764	1,041,562
Cash
Amortized Cost
Cash and cash equivalents	887,682	712,921
Fair Value
Cash and cash equivalents	887,682	712,921
Cash and cash equivalents
Fair Value
Cash, cash equivalents and marketable securities	937,438	942,050
Cash and cash equivalents \| Cash
Fair Value
Cash and cash equivalents	887,682	712,921
Marketable securities, short-term
Fair Value
Cash, cash equivalents and marketable securities	35,304	57,534
Marketable securities, long-term
Fair Value
Cash, cash equivalents and marketable securities	8,022	41,978
Money market funds
Amortized Cost
Cash and cash equivalents	49,756	229,129
Gross Unrealized Losses
Cash and cash equivalents		0
Fair Value
Cash and cash equivalents	49,756	229,129
Money market funds \| Cash and cash equivalents
Fair Value
Cash and cash equivalents	49,756	229,129
Corporate bonds
Amortized Cost
Marketable securities, amortized cost	31,943	69,390
Gross Unrealized Gains
Marketable securities	5	0
Gross Unrealized Losses
Marketable securities	(676)	(2,915)
Fair Value
Marketable securities, fair value	31,272	66,475
Corporate bonds \| Marketable securities, short-term
Fair Value
Marketable securities, fair value	28,704	36,510
Corporate bonds \| Marketable securities, long-term
Fair Value
Marketable securities, fair value	2,568	29,965
U.S. government treasury bonds
Amortized Cost
Marketable securities, amortized cost	4,855	20,559
Gross Unrealized Gains
Marketable securities	0	0
Gross Unrealized Losses
Marketable securities	(99)	(549)
Fair Value
Marketable securities, fair value	4,756	20,010
U.S. government treasury bonds \| Marketable securities, short-term
Fair Value
Marketable securities, fair value		15,404
U.S. government treasury bonds \| Marketable securities, long-term
Fair Value
Marketable securities, fair value	4,756	4,606
Asset-backed securities
Amortized Cost
Marketable securities, amortized cost	1,416	4,514
Gross Unrealized Gains
Marketable securities	2	1
Gross Unrealized Losses
Marketable securities	(1)	(37)
Fair Value
Marketable securities, fair value	1,417	4,478
Asset-backed securities \| Marketable securities, short-term
Fair Value
Marketable securities, fair value	719	2,909
Asset-backed securities \| Marketable securities, long-term
Fair Value
Marketable securities, fair value	698	1,569
Municipal bonds
Amortized Cost
Marketable securities, amortized cost	702	3,447
Gross Unrealized Gains
Marketable securities	0	0
Gross Unrealized Losses
Marketable securities	(2)	(61)
Fair Value
Marketable securities, fair value	700	3,386
Municipal bonds \| Marketable securities, short-term
Fair Value
Marketable securities, fair value	700	2,711
Municipal bonds \| Marketable securities, long-term
Fair Value
Marketable securities, fair value		675
U.S. government agency bonds
Amortized Cost
Marketable securities, amortized cost	5,215	5,231
Gross Unrealized Gains
Marketable securities	0	1
Gross Unrealized Losses
Marketable securities	(34)	(69)
Fair Value
Marketable securities, fair value	5,181	5,163
U.S. government agency bonds \| Marketable securities, short-term
Fair Value
Marketable securities, fair value	$ 5,181
U.S. government agency bonds \| Marketable securities, long-term
Fair Value
Marketable securities, fair value		$ 5,163

Financial Instruments

12 Months Ended

Dec. 31, 2023

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 recorded in our Consolidated Balance Sheets as of December 31, 2023 and 2022 (in thousands):


									Reported as:
December 31, 2023	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Cash and cash equivalents		Marketable securities, short-term		Marketable securities, long-term
Cash	$	887,682	$	—	$	—	$	887,682	$	887,682	$	—	$	—
Money market funds	49,756		—		—		49,756		49,756		—		—
Corporate bonds	31,943		5		(676)		31,272		—		28,704		2,568
U.S. government treasury bonds	4,855		—		(99)		4,756		—		—		4,756
Asset-backed securities	1,416		2		(1)		1,417		—		719		698
Municipal bonds	702		—		(2)		700		—		700		—
U.S. government agency bonds	5,215		—		(34)		5,181		—		5,181		—

Total	$	981,569	$	7	$	(812)	$	980,764	$	937,438	$	35,304	$	8,022


									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

The following tables summarizes the fair value of our available-for-sale marketable securities classified by contractual maturity as of December 31, 2023 and 2022 (in thousands):


	December 31,
	2023		2022
Due in 1 year or less	$	34,617	$	51,037
Due in 1 year through 5 years	8,709		48,475
Total	$	43,326	$	99,512

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, 2023 and 2022 are primarily due to changes in interest rates and credit spreads.


	As of December 31, 2023
	Less than 12 months				12 Months or Greater				Total
December 31, 2023	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss			Fair Value		Unrealized Loss
Corporate bonds	$	—	$	—	$	27,939	$	(676)		$	27,939	$	(676)
U.S. government treasury bonds	2,044		(11)		2,712		(88)			4,756		(99)
Asset-backed securities	1,018		(1)		83		—			1,101		(1)
Municipal bonds	—		—		700		(2)			700		(2)
U.S. government agency bonds	4,003		(11)		1,178		(23)			5,181		(34)

Total	$	7,065	$	(23)	$	32,612	$	(789)		$	39,677	$	(812)


	As of December 31, 2022
	Less than 12 months				12 Months or 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)

Fair Value Measurements

The following tables summarize our financial assets measured at fair value and categorized by fair value hierarchy as of December 31, 2023 and 2022 (in thousands):


Description	Balance as of December 31, 2023		Level 1		Level 2
Cash equivalents:
Money market funds	$	49,756	$	49,756	$	—


Short-term investments:

Corporate bonds	28,704		—		28,704
Municipal bonds	700		—		700
U.S. government agency bonds	5,181		—		5,181
Asset-backed securities	719		—		719
Long-term investments:
U.S. government treasury bonds	4,756		—		4,756
Corporate bonds	2,568		—		2,568


Asset-backed securities	698		—		698




	$	93,082	$	49,756	$	43,326


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

We had no financial assets that were categorized as level 3 in the fair value hierarchy for the year ended December 31, 2023 or 2022.

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 assets and liabilities. These forward contracts are classified within Level 2 of the fair value hierarchy. As a result of the settlement of foreign currency forward contracts, we recognized a net loss of $15.9 million during the year ended December 31, 2023. The net gain recognized during the year ended 2022 was not material and we recognized a net gain of $18.8 million during the year ended December 31, 2021. As of December 31, 2023 and 2022, the fair value of foreign exchange forward contracts outstanding was not material.

The following tables present the gross notional value of all our foreign exchange forward contracts outstanding as of December 31, 2023 and 2022 (in thousands):


	December 31, 2023
	Local Currency Amount	Notional Contract Amount (USD)
Euro	€337,780	$	373,705
Canadian Dollar	C$108,900	82,166
Polish Zloty	PLN276,900	70,393
British Pound	£45,590	58,005
Chinese Yuan	¥244,500	34,361
Swiss Franc	CHF28,600	34,132
Japanese Yen	¥3,577,000	25,347
Israeli Shekel	ILS78,700	21,800
Brazilian Real	R$80,500	16,563
Mexican Peso	M$230,000	13,593
New Zealand Dollar	NZ$6,600	4,161
Australian Dollar	A$4,300	2,921
New Taiwan Dollar	NT$89,000	2,919
Czech Koruna	Kč60,200	2,687
Korean Won	₩2,200,000	1,709
		$	744,462


	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

Balance Sheet Components - Accrued Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Balance Sheet Related Disclosures [Abstract]
Accrued payroll and benefits	$ 220,862	$ 149,508
Accrued expenses	71,109	64,341
Accrued income taxes	38,103	74,323
Accrued sales and marketing expenses	34,035	36,407
Current operating lease liabilities	29,651	26,574
Accrued property, plant and equipment	23,618	19,922
Other accrued liabilities	108,402	83,299
Total accrued liabilities	$ 525,780	$ 454,374
Current operating lease liabilities location	Total accrued liabilities	Total accrued liabilities

Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The change in the carrying value of goodwill for the year ended December 31, 2023 and 2022, categorized by reportable segment, is as follows (in thousands):


	Clear Aligner		Systems and Services		Total
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

Foreign currency translation adjustments	1,606		10,373		11,979
Balance as of December 31, 2023	$	111,086	$	308,444	$	419,530

Schedule of Amortized Intangible Assets

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


	Weighted Average Amortization Period (in years)	Gross Carrying Amount as of December 31, 2023		Accumulated Amortization		Accumulated Impairment Loss		Net Carrying Value as of December 31, 2023
Existing technology	10	$	112,051	$	(45,331)	$	(4,328)	$	62,392
Customer relationships	10	21,500		(8,063)		—		13,437
Trademarks and tradenames	10	16,600		(7,605)		(4,122)		4,873
Patents	8	6,511		(6,082)		—		429
		$	156,662	$	(67,081)	$	(8,450)	81,131
Foreign currency translation adjustments								987
Total intangible assets, net 1								$	82,118

1 Also includes $34.3 million of fully amortized intangible assets related to customer relationships.


	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.

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, 2023 is as follows (in thousands):


Fiscal Year	Amortization
2024	$	15,335
2025	14,959
2026	14,353
2027	11,992
2028	10,890
Thereafter	13,602
Total	$	81,131

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-2

+ Details

Leases - Lease Payments Due (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Leases [Abstract]
2024	$ 22,737
2025	18,170
2026	8,908
Total lease payments	$ 49,815

Segments and Geographical Information - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2023 segment
Segment Reporting [Abstract]
Number of reportable segments	2

Employee Benefit Plans	12 Months Ended
Employee Benefit Plans	Dec. 31, 2023
Compensation Related Costs [Abstract]
Employee Benefit Plans	Employee Benefit Plans We 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 $9.5 million, $10.0 million and $8.5 million to the 401(k) plan during the year ended December 31, 2023, 2022 and 2021, respectively. We also have defined contribution retirement plans outside of the U.S. to which we contributed $55.1 million, $54.5 million and $42.3 million during the year ended December 31, 2023, 2022 and 2021, respectively.

Leases (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Components of Lease Expense

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


	Year Ended December 31,
Lease Cost	2023		2022		2021
Operating lease cost 1	$	44,614	$	37,919	$	33,241
Variable lease cost 2	16,013		22,084		11,134
Total lease cost	$	60,627	$	60,003	$	44,375

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	2023		2022

Weighted average remaining lease term (in years)	6.2		7.2


Weighted average discount rate	3.7	%	3.5	%

Schedule of Operating Lease Liabilities

As of December 31, 2023, the future payments related to our operating lease liabilities are as follows (in thousands):


Fiscal Year Ending December 31,	Operating Leases
2024	$	33,838
2025	28,381
2026	22,449
2027	16,933
2028	12,746
Thereafter	25,901
Total lease payments	140,248
Less: Imputed interest	(13,629)
Total lease liabilities	$	126,619

Schedule of Property, Plant and Equipment Under Operating Leases

Our portfolio of leased iTero scanners included in Property, plant and equipment, net are as follows:


	December 31,
	2023		2022
Scanners under operating leases, gross	$	27,145	$	22,914
Less: accumulated depreciation	(9,815)		(3,919)
Scanners under operating leases, net	$	17,330	$	18,995

Schedule of Lease Payments Due

As of December 31, 2023, the future lease payments due to us are as follows (in thousands):


Fiscal Year Ending December 31,	Operating Leases
2024	$	22,737
2025	18,170
2026	8,908



Total lease payments	$	49,815