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Stock-Based Compensation
 9 Months Ended
Sep. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation Stock-Based Compensation
The following table summarizes the expense recognized within general and administrative expenses in the Unaudited Consolidated Statements of Income related to stock-based compensation for the three and nine months ended September 30, 2025 and 2024 (in thousands):
 
 Three Months Ended September 30,Nine Months Ended September 30,
 2025202420252024
Stock options$9,783 $4,696 $22,052 $15,938 
Restricted stock17,810 23,810 52,774 64,655 
Stock-based compensation$27,593 $28,506 $74,826 $80,593 
The tax benefits recorded on stock-based compensation, inclusive of the tax benefits upon the exercises of options and vesting of restricted stock were $32.2 million and $33.1 million for the nine months ended September 30, 2025 and 2024, respectively.
The following table summarizes the Company’s total unrecognized compensation cost related to outstanding stock awards as of September 30, 2025 (cost in thousands):
Unrecognized
Compensation
Cost
Weighted Average
Period of Expense
Recognition Remaining
(in Years)
Stock options$59,617 1.88
Restricted stock52,816 0.83
Total$112,433 
Stock Options
The following summarizes the changes in the number of shares of stock options outstanding for the nine months ended September 30, 2025 (shares and aggregate intrinsic value in thousands):
SharesWeighted
Average
Exercise
Price		Options
Exercisable
at End of
Period		Weighted
Average
Exercise
Price of
Exercisable
Options		Weighted
Average Fair
Value of
Options
Granted 
During the Period		Aggregate
Intrinsic
Value
Outstanding at December 31, 20242,484 $191.97 1,760 $171.95 $364,092 
Granted598 325.28 $84.88 
Exercised(407)153.55 $84,334 
Forfeited(50)235.21 
Outstanding at September 30, 20252,625 $227.48 1,559 $185.71 $183,110 
Expected to vest as of September 30, 2025
1,066 $288.61 
The aggregate intrinsic value of stock options exercisable at September 30, 2025 was $159.6 million. The weighted average remaining contractual term of options exercisable at September 30, 2025 was 3.0 years.
Restricted Stock
The following table summarizes the changes in the number of shares of restricted stock awards and restricted stock units outstanding for the nine months ended September 30, 2025 (shares in thousands):
 
SharesWeighted
Average
Grant Date
Fair Value
Outstanding at December 31, 2024460 $260.23 
Granted240 322.94 
Issued(314)257.33 
Cancelled(49)272.12 
Outstanding at September 30, 2025337 $305.85