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SHARE-BASED COMPENSATION (Tables) | 12 Months Ended
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Dec. 31, 2023
Share-Based Payment Arrangement [Abstract] |
Schedule of Share-based Compensation Costs and Related Tax Benefits | 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,
|  | 2023 |  | 2022 |  | 2021
Share-based compensation expense included in cost of revenue |  | $ | 5,643 |  |  | $ | 4,638 |  |  | $ | 4,044 |
Share-based compensation expense included in operating expenses |  | 54,096 |  |  | 45,132 |  |  | 33,711 |
Total share-based compensation expense included in consolidated statements of income |  | 59,739 |  |  | 49,770 |  |  | 37,755 |
Income tax benefit resulting from share-based compensation expense |  | (5,487) |  |  | (4,658) |  |  | (4,734) |
Net share-based compensation expense included in consolidated statements of income, excluding tax benefit from settlement of share-based awards |  | 54,252 |  |  | 45,112 |  |  | 33,021 |
Income tax benefit resulting from settlement of share-based awards |  | (13,703) |  |  | (12,522) |  |  | (32,474) |
Net expense related to share-based compensation arrangements included in consolidated statements of income |  | $ | 40,549 |  |  | $ | 32,590 |  |  | $ | 547 |
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,
|  | 2023 |  | 2022 |  | 2021
Expected stock price volatility |  | 32 | % |  | 30 | % |  | 30 | %
Expected term, in years |  | 6.7 |  | 6.4 |  | 6.2
Risk-free interest rate |  | 3.7 | % |  | 2.1 | % |  | 0.7 | %
Weighted average fair value of options granted |  | $ | 201.48 |  |  | $ | 166.30 |  |  | $ | 169.15 |
Schedule of Stock Option Activity | A summary of the status of options granted under our share-based compensation plans at December 31, 2023, 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, 2022 |  | 1,701 |  | $ | 219.90 |  |  |  |  |
Granted |  | 142 |  | $ | 503.50 |  |  |  |  |
Exercised |  | (215) |  | $ | 147.69 |  |  |  |  |
Forfeited |  | (26) |  | $ | 432.43 |  |  |  |  |
Expired |  | (6) |  | $ | 545.55 |  |  |  |  |
Outstanding as of December 31, 2023 |  | 1,596 |  | $ | 250.14 |  |  | 4.8 |  | $ | 487,487 |
Fully vested as of December 31, 2023 |  | 1,209 |  | $ | 186.45 |  |  | 3.9 |  | $ | 446,109 |
Fully vested and expected to vest as of December 31, 2023 (1) |  | 1,581 |  | $ | 247.85 |  |  | 4.8 |  | $ | 486,636 |
(1) Includes options that are vested as of December 31, 2023, and outstanding options that are expected to vest in the future, net of estimated forfeitures.
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, 2023, 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, 2022 |  | 148 |  | $ | 391.55 |
Granted |  | 63 |  |
Vested |  | (62) |  |
Forfeited |  | (8) |  |
Nonvested as of December 31, 2023 |  | 141 |  | $ | 459.11 |
Expected to vest as of December 31, 2023 (1) |  | 134 |  | $ | 457.51 |
(1) Outstanding units that are expected to vest in the future, net of estimated forfeitures.

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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 -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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