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SHARE-BASED AWARDS AND STOCK OPTIONS (Tables)

6 Months Ended

Jun. 30, 2023

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												Six Months Ended
			June 30, 2023						June 30, 2022						June 30, 2023						June 30, 2022
			(in thousands)
Share-based compensation expense			$	47,135					$	47,014					$	136,701					$	85,414
Income tax benefit			$	22,474					$	10,318					$	31,890					$	19,997

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 six months ended June 30, 2023:

			Shares						Weighted-Average Grant-Date Fair Value
			(in thousands)
Unvested at December 31, 2022			2,145						$159.04
Replacement awards			202						98.44
Granted			1,252						112.42
Vested			(940)						160.85
Forfeited			(86)						136.88
Unvested at June 30, 2023			2,573						$131.35

Schedule of Changes in Stock Option Activity

The following table summarizes stock option activity for the six months ended June 30, 2023: 

			Options						Weighted-Average Exercise Price						Weighted-Average Remaining Contractual Term						Aggregate Intrinsic Value
			(in thousands)												(years)						(in millions)
Outstanding at December 31, 2022			1,139						$111.75						5.4						$17.3
Replacement awards			142						98.44
Granted			233						110.83
Forfeited			(36)						109.92
Exercised			(17)						52.80
Outstanding at June 30, 2023			1,461						$109.07						3.7						$19.0
Options vested and exercisable at June 30, 2023			1,155						$110.39						2.4						$16.5

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:

			Six Months Ended
			June 30, 2023						June 30, 2022
Risk-free interest rate			3.84%						1.87%
Expected volatility			45%						40%
Dividend yield			0.81%						0.56%
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 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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