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Share-Based Compensation (Tables) | 3 Months Ended
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Mar. 31, 2021
Share-based Payment Arrangement [Abstract] |
Schedule of weighted averages of the assumptions used in estimating the fair value of stock option awards | The weighted averages of the valuation assumptions used to determine the fair value of each option award on the date of grant and the weighted average estimated fair values were as follows:
| For the Three Months Ended March 31,
| 2021 |  | 2020
Share price at grant | $ | 544.08 |  |  | $ | 288.78 |
Share price at exercise | $ | 548.15 |  |  | $ | 288.78 |
Expected stock price volatility | 31 | % |  | 27 | %
Expected term, in years | 6.2 |  | 6.0
Risk-free interest rate | 0.7 | % |  | 1.5 | %
Weighted average fair value of options granted | $ | 168.35 |  |  | $ | 84.21 |

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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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