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EMPLOYEE BENEFIT PLANS (Tables) | 12 Months Ended
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Dec. 31, 2019
Compensation Related Costs [Abstract] |
Schedule of option activity | Option activity was as follows:
| Number of Shares |  | Range of Exercise Price |  | Weighted- Average Exercise Price |  | Weighted- Average Remaining Contract Life (in years) |  | Aggregate Intrinsic Value (in thousands)
Outstanding at December 31, 2016 | 440,158 |  |  | $36.48 - $201.04 |  | $ | 132.08 |  |  |  |  |
Granted | 95,500 |  |  | $204.91 |  | $ | 204.91 |  |  |  |  |
Exercised | (81,815 | ) |  | $36.48 - $201.04 |  | $ | 83.07 |  |  |  |  |
Outstanding at December 31, 2017 | 453,843 |  |  | $36.73 - $204.91 |  | $ | 156.24 |  |  |  |  |
Granted | 82,500 |  |  | $342.13 |  | $ | 342.13 |  |  |  |  |
Exercised | (177,299 | ) |  | $36.73 - $204.91 |  | $ | 125.16 |  |  |  |  |
Canceled or expired | (14,768 | ) |  | $182.75 - $342.13 |  | $ | 261.20 |  |  |  |  |
Outstanding at December 31, 2018 | 344,276 |  |  |  |  | $ | 212.28 |  |  |  |  |
Granted | 48,300 |  |  | $398.15 |  | $ | 398.15 |  |  |  |  |
Exercised | (116,918 | ) |  | $54.51 - $342.13 |  | $ | 159.52 |  |  |  |  |
Outstanding at December 31, 2019 | 275,658 |  |  | $54.51 - $398.15 |  | $ | 267.23 |  |  | 6.98 |  | $ | 91,262 |
Exercisable at December 31, 2017 | 278,239 |  |  | $36.73 - $201.04 |  | $ | 130.91 |  |  |  |  |
Exercisable at December 31, 2018 | 185,405 |  |  | $54.51 - $204.91 |  | $ | 165.31 |  |  |  |  |
Exercisable at December 31, 2019 | 147,620 |  |  | $102.16 - $342.13 |  | $ | 210.96 |  |  | 5.84 |  | $ | 57,180 |
Fair value assumption for options granted | The Company estimated the fair value of each option granted on the date of grant using the Black-Scholes option-pricing model, using the assumptions in the following table:
| Year Ended December 31,
| 2019 |  | 2018 |  | 2017
Dividend yield | 0 | % |  | 0 | % |  | 0 | %
Expected volatility | 27 | % |  | 28 | % |  | 28 | %
Risk-free interest rate | 2 | % |  | 3 | % |  | 2 | %
Expected life (in years) | 5 |  |  | 5 |  |  | 5 |
This pricing model uses multiple simulations to evaluate the probability of achieving the market condition to calculate the fair value of the awards. Expense is only recorded for awards that are expected to vest, net of estimated forfeitures.The assumptions used to estimate the fair value of awards with both a performance and a market condition were as follows:
| Year Ended December 31,
| 2019 |  | 2018 |  | 2017
Dividend yield | 0 | % |  | 0 | % |  | 0 | %
Expected volatility | 27 | % |  | 28 | % |  | 28 | %
Risk-free interest rate | 2 | % |  | 2 | % |  | 2 | %
Expected life (in years) | 3 |  |  | 3 |  |  | 3 |
Weighted-average grant date fair value | $ | 398.15 |  |  | $ | 342.13 |  |  | $ | 218.59 |
Summarized information regarding options outstanding | The following table summarizes information regarding options outstanding at December 31, 2019:
|  | Options Outstanding |  | Options Exercisable
Range of Exercise Price |  | Number of Shares |  | Weighted-Average Remaining Contractual Life (in years) |  | Weighted- Average Exercise Price |  | Number of Shares |  | Weighted- Average Exercise Price
$102.16 - $142.45 |  | 3,522 |  |  | 3.19 |  | $ | 102.16 |  |  | 3,522 |  |  | $ | 102.16 |
$142.46 - $188.22 |  | 36,600 |  |  | 6.19 |  | $ | 182.75 |  |  | 36,600 |  |  | $ | 182.75 |
$188.23 - $197.37 |  | 32,200 |  |  | 5.17 |  | $ | 193.69 |  |  | 32,200 |  |  | $ | 193.69 |
$197.38 - $202.98 |  | 33,600 |  |  | 4.16 |  | $ | 201.04 |  |  | 33,600 |  |  | $ | 201.04 |
$202.99 - $273.52 |  | 52,135 |  |  | 7.16 |  | $ | 204.91 |  |  | 23,066 |  |  | $ | 204.91 |
$273.53 - $370.14 |  | 69,301 |  |  | 8.16 |  | $ | 342.13 |  |  | 18,632 |  |  | $ | 342.13 |
$370.15 - $398.15 |  | 48,300 |  |  | 9.10 |  | $ | 398.15 |  |  | — |  |  | $ | — |
|  | 275,658 |  |  |  |  | $ | 267.23 |  |  | 147,620 |  |  | $ | 210.96 |
Unvested restricted stock awards activity | The following table presents unvested restricted stock units activity for the year ended December 31, 2019:
| Number of Units |  | Weighted-Average Grant Date Fair Value per Share
Unvested restricted stock units at December 31, 2018 | 852 |  |  | $ | 228.86 |
Granted | 413 |  |  | $ | 459.41 |
Vested | (411 | ) |  | $ | 221.08 |
Canceled | — |  |  | $ | — |
Unvested restricted stock units at December 31, 2019 | 854 |  |  | $ | 344.10 |
The following tables presents the RSU activity for the year ended December 31, 2019:
| Number of Matching RSU Shares |  | Weighted-Average Grant Date Fair Value per Share
Unvested MSPP restricted stock units at December 31, 2018 | — |  |  | $ | — |
Granted | 7,441 |  |  | 469.13 |
Vested | — |  |  | — |
Canceled | (275 | ) |  | 469.13 |
Unvested MSPP restricted stock units at December 31, 2019 | 7,166 |  |  | $ | 469.13 |
The following table presents unvested restricted stock awards activity for the year ended December 31, 2019:
| Restricted Stock Awards — without Market Condition |  | Restricted Stock Awards — with Market Condition
| Number of Shares |  | Weighted-Average Grant Date Fair Value per Share |  | Number of Shares |  | Weighted-Average Grant Date Fair Value per Share
Unvested restricted stock awards at December 31, 2018 | 304,161 |  |  | $ | 272.95 |  |  | 76,320 |  |  | $ | 193.44 |
Granted | 115,722 |  |  | $ | 456.51 |  |  | 36,000 |  |  | $ | 429.63 |
Vested | (134,361 | ) |  | $ | 241.65 |  |  | (23,040 | ) |  | $ | 184.97 |
Canceled | (18,303 | ) |  | $ | 315.39 |  |  | — |  |  | $ | — |
Unvested restricted stock awards at December 31, 2019 | 267,219 |  |  | $ | 365.27 |  |  | 89,280 |  |  | $ | 290.87 |

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