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Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2024
Stock-Based Compensation [Abstract] |
Schedule of Assumptions Used to Estimate Fair Value of Stock Options |
|  |  |  |  | For the year ended December 31,
|  |  |  |  | 2023 |  | 2022
Risk free interest rate |  |  |  |  |  | 3.96% |  |  | 2.53%
Dividend yield |  |  |  |  |  | 1.50% |  |  | 0.9%
Expected volatility |  |  |  |  |  | 30.0% |  |  | 27.2%
Expected lives |  |  |  |  |  | 4.4 years |  |  | 4.3 years
Summary of Stock Option Activity |
|  |  |  | Weighted- |  | Weighted-Average |  |  |
|  |  |  | Average |  | Remaining |  |  |
|  | Number |  | Exercise Price |  | Contractual |  | Aggregate
|  | of Shares |  | Per Share |  | Life (in years) |  | Intrinsic Value
Outstanding at December 31, 2021 |  | 1,899 |  | $ | 157.76 |  |  |  |  |
Granted |  | 10 |  | $ | 328.99 |  |  |  |  |
Exercised |  | (233) |  | $ | 141.41 |  |  |  |  |
Forfeited/canceled |  | (3) |  | $ | 179.16 |  |  |  |  |
Outstanding at December 31, 2022 |  | 1,673 |  | $ | 161.02 |  |  |  |  |
Granted |  | 20 |  | $ | 224.24 |  |  |  |  |
Exercised |  | (339) |  | $ | 132.70 |  |  |  |  |
Forfeited/canceled |  | (14) |  | $ | 238.10 |  |  |  |  |
Outstanding at December 31, 2023 |  | 1,340 |  | $ | 168.32 |  |  |  |  |
Exercised |  | (250) |  | $ | 140.18 |  |  |  |  |
Forfeited/canceled |  | (2) |  | $ | 197.91 |  |  |  |  |
Outstanding at December 31, 2024 |  | 1,088 |  | $ | 174.74 |  | 1.1 |  | $ | 33,420
Exercisable at December 31, 2024 |  | 1,066 |  | $ | 173.12 |  | 1.0 |  | $ | 33,420
Unvested at December 31, 2024 |  | 22 |  | $ | 252.81 |  | 8.1 |  | $ | —
Additional Information Regarding Options Outstanding And Exercisable |
|  | Options Outstanding |  | Options Exercisable
|  |  |  | Weighted-Average |  | Weighted- |  |  |  | Weighted-
|  |  |  | Remaining |  | Average |  |  |  | Average
Range |  | Outstanding |  | Contractual Life |  | Exercise Price |  | Exercisable |  | Exercise Price
|  | (in thousands) |  | (in years) |  |  |  |  | (in thousands) |  |  |
$140.01 - $180.00 |  | 422 |  | 0.2 |  | $ | 156.52 |  | 422 |  | $ | 156.52
$180.01 - $230.00 |  | 654 |  | 1.6 |  | $ | 183.93 |  | 638 |  | $ | 182.92
$230.01 - $330.00 |  | 12 |  | 6.5 |  | $ | 320.14 |  | 6 |  | $ | 310.59
|  | 1,088 |  |  |  |  |  |  | 1,066 |  |  |
Summary of Activity of Options Outstanding not yet Vested |
|  |  |  | Weighted-
|  |  |  | Average
|  | Number |  | Fair Value
|  | of Shares |  | Per Share
|  | (in thousands) |  |  |
Unvested as of December 31, 2023 |  | 28 |  | $ | 65.61
Vested |  | (6) |  | $ | 66.73
Unvested as of December 31, 2024 |  | 22 |  | $ | 65.31
Summary of Restricted Stock Unit and Performance Based Restricted Stock Unit Activity |
|  | RSUs |  | PSUs (1)
|  |  |  | Weighted-Average |  |  |  | Weighted-Average
|  | Number of |  | Grant Date Fair |  | Number of |  | Grant Date Fair
|  | Shares |  | Value per Share |  | Shares |  | Value per Share
|  | (in thousands) |  |  |  |  | (in thousands) |  |  |
Outstanding at December 31, 2023 |  | 267 |  | $ | 269.08 |  | 368 |  | $ | 298.46
Granted |  | 272 |  | $ | 216.39 |  | 59 |  | $ | 291.51
PSU adjustment (2) |  | — |  | $ | — |  | 11 |  | $ | 236.63
Vested |  | (121) |  | $ | 269.29 |  | (155) |  | $ | 236.32
Forfeited/canceled |  | (25) |  | $ | 236.33 |  | (8) |  | $ | 315.38
Outstanding at December 31, 2024 |  | 393 |  | $ | 234.50 |  | 275 |  | $ | 314.52
(1)PSUs represent the target number of shares granted that are issuable at the end of the three year performance period. Fair value for a portion of the PSUs was calculated using a Monte Carlo simulation model. (2)PSU adjustment represents the net PSUs awarded above or below their target grants resulting from the achievement of performance targets established at the grant date.
Schedule of Non-Cash Compensation Expense |
|  |  | For the year ended December 31,
|  | 2024 |  | 2023 |  | 2022
|  | (in thousands)
Cost of revenues |  | $ | 2,737 |  | $ | 2,869 |  | $ | 2,490
Selling, general and administrative |  |  | 71,637 |  |  | 85,050 |  |  | 97,419
Total cost of non-cash compensation included |  |  |  |  |  |  |  |  |
in income before provision for income taxes |  | $ | 74,374 |  | $ | 87,919 |  | $ | 99,909

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