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SHARE-BASED AWARDS AND STOCK OPTIONS (Tables)

9 Months Ended

Sep. 30, 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												Nine Months Ended
			September 30, 2022						September 30, 2021						September 30, 2022						September 30, 2021
			(in thousands)
Share-based compensation expense			$	37,052					$	65,611					$	122,465					$	146,097
Income tax benefit			$	10,318					$	16,224					$	26,816					$	34,595

Schedule of Changes in Unvested Restricted Stock Awards and Performance Awards

The following table summarizes the changes in unvested restricted stock and performance awards for the nine months ended September 30, 2022:

			Shares						Weighted-Average Grant-Date Fair Value
			(in thousands)
Unvested at December 31, 2021			1,640						$184.90
Granted			1,492						137.61
Vested			(754)						170.87
Forfeited			(201)						165.70
Unvested at September 30, 2022			2,177						$159.09

Schedule of Changes in Stock Option Activity

The following table summarizes stock option activity for the nine months ended September 30, 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
Forfeited			(36)						162.48
Exercised			(66)						66.87
Outstanding at September 30, 2022			1,224						$111.60						5.2						$22.6
Options vested and exercisable at September 30, 2022			991						$99.67						4.4						$22.6

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:

			Nine Months Ended
			September 30, 2022						September 30, 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 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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