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SHARE-BASED AWARDS AND OPTIONS (Tables)

12 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement [Abstract]

Schedule of Share-based Compensation Expense

The following table summarizes share-based compensation expense and the related income tax benefit recognized for our share-based awards and stock options:

			Years Ended December 31,
			2020						2019						2018
			(in thousands)
Share-based compensation expense			$	148,792					$	89,634					$	57,826
Income tax benefit			$	33,530					$	20,519					$	13,038

Schedule of Changes in Unvested Restricted Stock Awards and Performance Units

The following table summarizes the changes in unvested restricted stock awards and performance units for the years ended December 31, 2020, 2019 and 2018:

						Shares						Weighted-Average Grant-Date Fair Value
						(in thousands)
Unvested at December 31, 2017						1,226						$78.29
Granted						650						109.85
Vested						(722)						60.08
Forfeited						(70)						91.47
Unvested at December 31, 2018						1,084						108.51
Replacement Awards						894						163.74
Granted						784						142.26
Vested						(781)						105.04
Forfeited						(137)						124.30
Unvested at December 31, 2019						1,844						149.96
Granted						607						191.20
Vested						(835)						128.91
Forfeited						(70)						168.40
Unvested at December 31, 2020						1,546						$176.71

Schedule of Changes in Stock Option Activity

The following table summarizes changes in stock option activity for the years ended December 31, 2020, 2019 and 2018: 

			Options						Weighted-Average Exercise Price						Weighted-Average Remaining Contractual Term						Aggregate Intrinsic Value
			(in thousands)												(years)						(in millions)
Outstanding at December 31, 2017			723						$47.79						6.4						$37.9
Granted			103						114.70
Forfeited			(22)						100.38
Exercised			(206)						42.65												16.5
Outstanding at December 31, 2018			598						59.16						6.2						27.3
Replacement Awards			1,336						68.96
Granted			109						128.22
Forfeited			(23)						110.13
Exercised			(265)						33.99												28.8
Outstanding at December 31, 2019			1,755						74.06						6.5						190.3
Granted			124						200.42
Forfeited			(3)						112.85
Exercised			(623)						59.78												85.8
Outstanding at December 31, 2020			1,253						$93.66						6.3						$152.6
Options vested and exercisable at December 31, 2020			859						$71.15						5.4						$123.9

Schedule of Fair Valuation Assumptions

Fair value was estimated on the date of grant using the Black-Scholes valuation model with the following weighted-average assumptions:

			Years Ended December 31,
			2020						2019						2018
Risk-free interest rate			1.24		%				1.72		%				2.60		%
Expected volatility			30		%				31		%				29		%
Dividend yield			0.39		%				0.04		%				0.04		%
Expected term (years)			5						5						5

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Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit.

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