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SHARE-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Summary of weighted average assumptions used for options granted

The following weighted average assumptions were used for options granted:

			Years Ended December 31,
			2022						2021						2020
Expected life (in years)			5.0						5.0						5.0
Expected volatility			28.3		%				26.1		%				27.0		%
Risk-free interest rate			3.3		%				1.0		%				0.4		%
Expected forfeiture rate			—		%				—		%				—		%

Summarizes restricted stock unit and performance share activity

The following table summarizes restricted stock unit and performance stock unit activity during the periods presented (shares in thousands):

			Number of Shares						Weighted Average Grant Date Fair Value per Share
Unvested at December 31, 2021			600						$	355.43
Granted			240						374.16
Conversion of Unvested Restricted Stock Awards			—						—
Vested			(246)						316.10
Forfeited			(26)						392.35
Unvested at December 31, 2022			568						$	376.07

Summary of stock option activity

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, 2021			1,620						206.06
Granted			90						349.05
Exercised			(186)						141.54
Forfeited			(13)						292.50
Outstanding at December 31, 2022			1,511						$	221.38					5						$	175,246
Exercisable at December 31, 2022			1,249						$	195.54					5						$	167,620

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

			2022						2021						2020
Weighted average grant-date fair value of stock options granted			$	108.99					$	113.18					$	98.69
Total intrinsic value of stock options exercised			$	43,160					$	215,062					$	292,394

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 consolidated statements of income:

			Years Ended December 31,
			2022						2021						2020
Subscriptions, maintenance and professional services			$	27,486					$	23,705					$	18,125
Sales and marketing expense			8,800						8,834						7,904
General and administrative expense			66,699						72,187						41,336
Total share-based compensation expense			102,985						104,726						67,365
Total tax benefit			(27,599)						(63,456)						(66,241)
Net decrease in net income			$	75,386					$	41,270					$	1,124

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Tabular disclosure of share-based payment arrangement.

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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.

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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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