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SHARE-BASED AWARDS AND STOCK OPTIONS (Tables)

3 Months Ended

Mar. 31, 2022

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:

			Three Months Ended
			March 31, 2022						March 31, 2021
			(in thousands)
Share-based compensation expense			$	38,399					$	37,165
Income tax benefit			$	9,679					$	8,399

Schedule of Changes in Unvested Restricted Stock Awards and Performance Units

The following table summarizes the changes in unvested restricted stock and performance awards for the three months ended March 31, 2022:

			Shares						Weighted-Average Grant-Date Fair Value
			(in thousands)
Unvested at December 31, 2021			1,640						$184.90
Granted			1,428						138.21
Vested			(535)						174.51
Forfeited			(22)						167.59
Unvested at March 31, 2022			2,511						$160.68

Schedule of Changes in Stock Option Activity

The following table summarizes stock option activity for the three months ended March 31, 2022: 

			Options						Weighted-Average Exercise Price						Weighted-Average Remaining Contractual Term						Aggregate Intrinsic Value
			(in thousands)												(years)						(in millions)
Outstanding at December 31, 2021			1,172						$107.44						5.8						$47.4
Granted			154						136.02
Exercised			(4)						16.89
Outstanding at March 31, 2022			1,322						$111.06						5.9						$48.5
Options vested and exercisable at March 31, 2022			1,053						$97.96						5.1						$48.4

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:

			Three Months Ended
			March 31, 2022						March 31, 2021
Risk-free interest rate			1.87%						0.59%
Expected volatility			40%						40%
Dividend yield			0.56%						0.44%
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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