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SHARE-BASED AWARDS AND STOCK OPTIONS (Tables)

9 Months Ended

Sep. 30, 2021

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, 2021						September 30, 2020						September 30, 2021						September 30, 2020
			(in thousands)												(in thousands)
Share-based compensation expense			$	65,611					$	42,276					$	146,097					$	105,081
Income tax benefit			$	16,224					$	9,123					$	34,595					$	23,338

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, 2021:

			Shares						Weighted-Average Grant-Date Fair Value
			(in thousands)
Unvested at December 31, 2020			1,546						$176.71
Granted			1,437						193.59
Vested			(1,162)						153.99
Forfeited			(90)						180.76
Unvested at September 30, 2021			1,731						$183.74

Schedule of Stock Option Activity

The following table summarizes stock option activity for the nine months ended September 30, 2021: 

			Options						Weighted-Average Exercise Price						Weighted-Average Remaining Contractual Term						Aggregate Intrinsic Value
			(in thousands)												(years)						(in millions)
Outstanding at December 31, 2020			1,253						$93.66						6.3						$152.6
Granted			112						196.06
Forfeited			(1)						113.48
Exercised			(181)						69.08
Outstanding at September 30, 2021			1,183						$106.98						6.0						$69.4
Options vested and exercisable at September 30, 2021			908						$86.45						5.3						$66.4

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, 2021						September 30, 2020
Risk-free interest rate			0.59%						1.24%
Expected volatility			40%						30%
Dividend yield			0.44%						0.39%
Expected term (years)			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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Tabular disclosure of the changes in outstanding nonvested shares.

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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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