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STOCK-BASED COMPENSATION (Tables)
3 Months Ended
Mar. 31, 2021
STOCK-BASED COMPENSATION  
Schedule of weighted-average assumptions used to estimate the fair value of options granted

Three-Months Ended March 31,

    

2021

    

2020

    

Dividend yield

0.0

%  

0.0

%

Expected volatility

28.9

%  

30.5

%

Risk-free interest rate

0.8

%  

0.7

%

Expected term

5.8

years

5.8

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, 2021

 

13,973

$

44.93

 

5.7

$

664,432

Granted 01/01/21 - 03/31/21

 

1,015

$

88.95

Exercised

 

(157)

$

43.04

Cancelled or forfeited

 

(5)

$

60.28

Outstanding at March 31, 2021

 

14,826

$

47.96

 

5.8

$

639,489

Vested and expected to vest in the future at March 31, 2021

 

14,463

$

47.44

 

5.7

$

631,268

Exercisable at March 31, 2021

 

9,883

$

40.24

 

4.7

$

502,521

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, 2021

947

$

60.52

Granted 01/01/21 - 03/31/211

304

$

86.28

Vested

(335)

$

62.43

Forfeited/cancelled

(1)

$

62.39

Non-vested at March 31, 2021

915

$

68.37

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 depending on the achievement of pre-established performance goals.