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STOCK-BASED COMPENSATION (Tables)
3 Months Ended
Mar. 31, 2020
STOCK-BASED COMPENSATION  
Schedule of weighted-average assumptions used to estimate the fair value of options granted

    

Three-Months Ended March 31,

    

2020

    

2019

    

Dividend yield

 

0.0

%

0.0

%

Expected volatility

 

30.5

%

30.2

%

Risk-free interest rate

 

0.7

%

2.4

%

Expected term

 

5.8

years

6.0

years

Summary of activities with respect to its stock option plans

Weighted-

 

Weighted-

Average

 

Average

Remaining

 

Number of

Exercise

Contractual

Shares (in

Price Per

Term (In

Aggregate

Options

    

thousands)

    

Share

    

years)

    

Intrinsic Value

Outstanding at January 1, 2020

 

14,941

$

42.88

 

6.3

$

308,884

Granted 01/01/20 - 03/31/20

 

1,027

$

62.45

Exercised

 

(372)

$

37.52

Cancelled or forfeited

 

(33)

$

52.50

Outstanding at March 31, 2020

 

15,563

$

44.28

 

6.4

$

204,418

Vested and expected to vest in the future at March 31, 2020

 

14,755

$

43.58

 

6.2

$

202,679

Exercisable at March 31, 2020

 

9,301

$

36.98

 

5.2

$

182,359

Summary of activities with respect to non-vested restricted stock units

    

    

    

Weighted

Number of

Average

Shares (in

Grant-Date

thousands)

Fair Value

Non-vested at January 1, 2020

 

825

$

57.62

Granted 01/01/20 - 03/31/201

 

392

$

62.39

Vested

 

(271)

$

55.53

Forfeited/cancelled

 

(1)

$

59.67

Non-vested at March 31, 2020

 

945

$

60.21

1The grant activity for performance share units is recorded based on the target performance level earning 100% of target performance share units. The actual number of performance share units earned could range from 0% to 200% of target dependent on the pre-established performance goals.