XML 51 R36.htm IDEA: XBRL DOCUMENT
v3.22.4

Share-Based Compensation (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract] |
Schedule of selected financial impact of share-based compensation | The following is a summary of share-based compensation costs and related tax benefits recorded in our consolidated statements of income:
(in thousands) |  | For the Years Ended December 31,
|  | 2022 |  | 2021 |  | 2020
Share-based compensation expense included in cost of revenue |  | $ | 4,638 |  |  | $ | 4,044 |  |  | $ | 3,415 |
Share-based compensation expense included in operating expenses |  | 45,132 |  |  | 33,711 |  |  | 27,536 |
Total share-based compensation expense included in consolidated statements of income |  | 49,770 |  |  | 37,755 |  |  | 30,951 |
Income tax benefit resulting from share-based compensation expense |  | (4,658) |  |  | (4,734) |  |  | (3,965) |
Net share-based compensation expense included in consolidated statements of income, excluding tax benefit from settlement of share-based awards |  | 45,112 |  |  | 33,021 |  |  | 26,986 |
Income tax benefit resulting from settlement of share-based awards |  | (12,522) |  |  | (32,474) |  |  | (38,981) |
Net expense (benefit) related to share-based compensation arrangements included in consolidated statements of income |  | $ | 32,590 |  |  | $ | 547 |  |  | $ | (11,995) |
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 Years Ended December 31,
|  | 2022 |  | 2021 |  | 2020
Expected stock price volatility |  | 30 | % |  | 30 | % |  | 27 | %
Expected term, in years |  | 6.4 |  | 6.2 |  | 6.0
Risk-free interest rate |  | 2.1 | % |  | 0.7 | % |  | 1.4 | %
Weighted average fair value of options granted |  | $ | 166.30 |  |  | $ | 169.15 |  |  | $ | 84.92 |
Schedule of stock option activity | A summary of the status of options granted under our share-based compensation plans at December 31, 2022, and changes during the year then ended, are presented in the table below:
|  | Number of Options (000) |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Term |  | Aggregate Intrinsic Value ($000)
Outstanding as of December 31, 2021 |  | 1,757 |  |  | $ | 188.47 |  |  |  |  |
Granted |  | 158 |  |  | $ | 494.75 |  |  |  |  |
Exercised |  | (173) |  |  | $ | 118.96 |  |  |  |  |
Forfeited |  | (39) |  |  | $ | 347.18 |  |  |  |  |
Expired |  | (2) |  |  | $ | 544.08 |  |  |  |  |
Outstanding as of December 31, 2022 |  | 1,701 |  |  | $ | 219.90 |  |  | 5.3 |  | $ | 352,274 |
Fully vested as of December 31, 2022 |  | 1,202 |  |  | $ | 156.37 |  |  | 4.3 |  | $ | 307,580 |
Fully vested and expected to vest as of December 31, 2022 |  | 1,684 |  |  | $ | 217.85 |  |  | 5.2 |  | $ | 351,359 |
Schedule of restricted stock unit activity | A summary of the status of RSUs and PBRSUs granted under our share-based compensation plans at December 31, 2022, and changes during the period then ended, are presented in the table below:
|  | Number of Units (000) |  | Weighted Average Grant-Date Fair Value
Nonvested as of December 31, 2021 |  | 165 |  |  | $ | 306.18 |
Granted |  | 59 |  |  |
Vested |  | (66) |  |  |
Forfeited |  | (10) |  |  |
Nonvested as of December 31, 2022 |  | 148 |  |  | $ | 391.55 |
Expected to vest as of December 31, 2022 |  | 141 |  |  | $ | 389.24 |

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + 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 (h)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. + 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 (c)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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 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 (d) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration