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STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2020

STOCK-BASED COMPENSATION

Schedule of weighted-average assumptions used to estimate the fair value of options granted

​

​	​	​	​	​	​	​	​	​
​	​		2020		2019		2018
Dividend yield	​	​	0.0	%	0.0	%	0.0	%
Expected volatility	​	​	30.4	%	30.2	%	34.7	%
Risk-free interest rate	​	​	0.70	%	2.37	%	2.81	%
Expected term	​	​	5.8 Years	​	6.0 Years	​	6.0 Years	​

Summary of activities with respect to its stock option plans

​

​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	Weighted-	​	​	​
​	​	​	​	Weighted-		​	Average	​	​	​
​	​	​	​	Average		​	Remaining	​	​	​
​	​	Number of	​	Exercise		​	Contractual	​	Aggregate
​	​	Shares (in	​	Price Per		​	Term (In	​	Intrinsic
Options		thousands)		Share			years)		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	​	​	​	​	​
Granted 04/01/20 - 06/30/20		—	​	$	—	​	​	​	​	​
Granted 07/01/20 - 09/30/20		—	​	$	—	​	​	​	​	​
Granted 10/01/20 - 12/31/20		12	​	$	77.92	​	​	​	​	​
Exercised		(1,916)	​	$	38.06	​	​	​	​	​
Cancelled or forfeited		(91)	​	$	54.41	​	​	​	​	​
Outstanding at December 31, 2020		13,973	​	$	44.93		5.7	​	$	664,432
Vested and expected to vest in the future at December 31, 2020		13,463	​	$	44.43		5.7	​	$	646,907
Exercisable at December 31, 2020		8,323	​	$	37.36		4.5	​	$	458,734

Summary of information about stock options outstanding and exercisable

​

​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	Options Outstanding						​	Options Exercisable
​	​	​	​	​	​	​	​	Weighted	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	Average	​	Weighted		​	Number	​	Weighted
​	​	​	​	​	​	Number	​	Remaining	​	Average		​	Exercisable	​	Average
Range of Exercise					​	Outstanding (In	​	Contractual	​	Exercise		​	(In	​	Exercise
Prices ($)						Thousands)		Term (Years)		Price ($)			Thousands)		Price ($)
$	11.35	-	$	17.99		1,483		2.3		$	17.58		1,483		$	17.58
$	18.64	-	$	23.35		1,613		3.1		$	23.05		1,613		$	23.05
$	36.05	-	$	36.05		9		4.0		$	36.05		9		$	36.05
$	37.10	-	$	43.64		1,033		5.6		$	42.75		681		$	42.33
$	43.99	-	$	43.99		1,641		5.2		$	43.99		1,185		$	43.99
$	44.73	-	$	45.16		1,581		4.5		$	45.10		1,494		$	45.11
$	45.55	-	$	51.50		1,478		6.4		$	47.61		826		$	46.46
$	53.24	-	$	57.95		335		7.7		$	55.79		65		$	54.82
$	58.73	-	$	58.73		2,230		7.2		$	58.73		680		$	58.73
$	58.77	-	$	77.92		2,570		8.6		$	60.93		287		$	59.86
​	​	​	​	​		13,973		5.7		$	44.93		8,323		$	37.36

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
Granted 04/01/20 - 06/30/20	​	17	​	$	71.72
Granted 07/01/20 - 09/30/20	​	1	​	$	71.76
Granted 10/01/20 - 12/31/20	​	5	​	$	78.04
Vested	​	(287)	​	$	55.65
Forfeited/cancelled	​	(6)	​	$	64.72
Non-vested at December 31, 2020	​	947	​	$	60.52

Schedule of employee and non-employee share-based compensation expense

​

​	​	​	​	​	​	​	​	​	​
​		2020			2019			2018
Operating expenses		$	70,289		$	63,356		$	57,111
Total employee and non-employee share-based compensation expense included in income, before income tax	​	​	70,289	​	​	63,356	​	​	57,111
Less: Amount of income tax benefit recognized in earnings	​	​	(15,499)	​	​	(36,326)	​	​	(14,892)
Amount charged against net income		$	54,790		$	27,030		$	42,219

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Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

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Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms.

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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

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Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year.

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