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Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Summary of Weighted Average Assumptions Used for Options Granted

The following weighted average assumptions were used for options granted:

	Years Ended December 31,
	2018			2017			2016
Expected life (in years)	6.0			6.0			6.0
Expected volatility	26.7	%		28.1	%		29.3	%
Risk-free interest rate	2.7	%		2.0	%		1.8	%
Expected forfeiture rate	—	%		—	%		—	%

Summarizes Restricted Stock Unit and Performance Share Activity

The following table summarizes restricted stock unit and performance stock unit activity during fiscal year 2018 (shares in thousands):

		Number of Shares			Weighted Average Grant Date Fair Value per Share
Unvested at January 1, 2018		—			$	—
Granted		336			$	221.29
Vested		—			$	—
Forfeited		(2	)		$	229.75
Unvested at December 31, 2018		334			$	221.25

Stock Option Activity

Other information pertaining to option activity was as follows during the twelve months ended December 31:

	2018				2017				2016
Weighted average grant-date fair value of stock options granted	$	66.52			$	55.56			$	46.89
Total intrinsic value of stock options exercised	176,716				137,699				103,703

Options granted, exercised, forfeited and expired are summarized as follows:

	Number of Shares			Weighted Average Exercise Price				Weighted Average Remaining Contractual Life (Years)		Aggregate Intrinsic Value
Outstanding at December 31, 2015	5,164			$	64.43
Granted	846			147.25
Exercised	(827	)		28.43
Forfeited	(27	)		95.33
Outstanding at December 31, 2016	5,156			83.64
Granted	824			176.26
Exercised	(1,113	)		44.80
Forfeited	(50	)		134.83
Outstanding at December 31, 2017	4,817			107.91
Granted	432			208.21
Exercised	(1,126	)		66.53
Forfeited	(31	)		158.80
Outstanding at December 31, 2018	4,092			129.51				7		$	240,069
Exercisable at December 31, 2018	2,357			100.41				6		$	201,349

Summary of Share-Based Compensation Expense Related to Share-Based Awards

The following table summarizes share-based compensation expense related to share-based awards which is recorded in the statements of comprehensive income:

	Years Ended December 31,
	2018				2017				2016
Cost of software services, maintenance and subscriptions	$	13,588			$	9,415			$	6,548
Selling, general and administrative expenses	39,152				27,933				23,199
Total share-based compensation expenses	52,740				37,348				29,747
Tax benefit	(32,487		)		(40,624		)		(30,059		)
Net decrease (increase) in net income	$	20,253			$	(3,276	)		$	(312	)

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Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

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Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed.

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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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