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EMPLOYEE BENEFIT PLANS (Tables)

12 Months Ended

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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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.

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Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms.

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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.

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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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