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STOCK-BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2023

STOCK-BASED COMPENSATION

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

​

​	​	​	​	​	​
​	​	Three-Months Ended March 31,			​
​		2023		2022	​
Dividend yield	​	0.0	%	0.0	%
Expected volatility	​	27.6	%	27.7	%
Risk-free interest rate	​	3.7	%	2.1	%
Expected term	​	6.3 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, 2023		29,710	​	$	26.38		5.0	​	$	724,651
Granted 01/01/23 - 03/31/23		3,962	​	$	50.82	​	​	​	​	​
Exercised		(3,129)	​	$	11.62	​	​	​	​	​
Cancelled or forfeited		(73)	​	$	37.39	​	​	​	​	​
Outstanding at March 31, 2023		30,470	​	$	31.04		5.8	​	$	699,802
Vested and expected to vest in the future at March 31, 2023	​	29,381	​	$	30.58	​	5.6	​	$	688,532
Exercisable at March 31, 2023		19,309	​	$	24.79		4.0	​	$	564,190

​

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

​

​	​	​	​	​	​
​	​	​	​	Weighted
​	​	Number of	​	Average
​	​	Shares (in	​	Grant-Date
​		thousands)		Fair Value
Non-vested at January 1, 2023	​	2,026	​	$	36.27
Granted 01/01/23 - 03/31/231	​	523	​	$	48.49
Vested	​	(576)	​	$	32.87
Forfeited/cancelled	​	(4)	​	$	32.80
Non-vested at March 31, 2023	​	1,969	​	$	40.52

​

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.

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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.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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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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