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SHARE-BASED AWARDS AND STOCK OPTIONS (Tables) | 9 Months Ended
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Sep. 30, 2020
Share-based Payment Arrangement [Abstract] |
Schedule of Allocation of Share-Based Compensation Costs by Plan | The following table summarizes share-based compensation expense and the related income tax benefit recognized for our share-based awards and stock options:
| Three Months Ended |  | Nine Months Ended
| September 30, 2020 |  | September 30, 2019 |  | September 30, 2020 |  | September 30, 2019
| (in thousands)
Share-based compensation expense | $ | 42,276 |  |  | $ | 27,877 |  |  | $ | 105,081 |  |  | $ | 55,791 |
Income tax benefit | $ | 9,123 |  |  | $ | 4,396 |  |  | $ | 23,338 |  |  | $ | 10,633 |
Schedule of Changes in Non-Vested Restricted Stock Awards Activity | The following table summarizes the changes in unvested restricted stock and performance awards for the nine months ended September 30, 2020:
| Shares |  | Weighted-Average Grant-Date Fair Value
| (in thousands) |  |
Unvested at December 31, 2019 | 1,844 |  |  | $149.96 |
Granted | 601 |  |  | 185.71 |
Vested | (652) |  |  | 119.62 |
Forfeited | (51) |  |  | 169.02 |
Unvested at September 30, 2020 | 1,742 |  |  | $173.10 |
Schedule of Stock Option Activity | The following table summarizes stock option activity for the nine months ended September 30, 2020:
| Options |  | Weighted-Average Exercise Price |  | Weighted-Average Remaining Contractual Term |  | Aggregate Intrinsic Value
| (in thousands) |  |  |  | (years) |  | (in millions)
Outstanding at December 31, 2019 | 1,755 |  |  | $74.06 |  |  | 6.5 |  | $190.3
Granted | 124 |  |  | 200.42 |  |  |  |  |
Forfeited | (2) |  |  | 113.48 |  |  |  |  |
Exercised | (506) |  |  | 60.18 |  |  |  |  |
Outstanding at September 30, 2020 | 1,371 |  |  | $90.64 |  |  | 6.4 |  | $122.0
Options vested and exercisable at September 30, 2020 | 974 |  |  | $69.50 |  |  | 5.6 |  | $105.3
Schedule of Stock Option Valuation Assumptions | Fair value was estimated on the date of grant using the Black-Scholes valuation model with the following weighted-average assumptions:
| Nine Months Ended
| September 30, 2020 |  | September 30, 2019
Risk-free interest rate | 1.24% |  | 1.72%
Expected volatility | 30% |  | 31%
Dividend yield | 0.39% |  | 0.04%
Expected term (years) | 5 |  | 5

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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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