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SHARE-BASED COMPENSATION AND BENEFIT PLANS (Tables)

12 Months Ended

Dec. 31, 2023

Summary of Stock Option Activity

The following is a summary of stock option activity under the 2021 Plan and the 2014 Plan as of and for the year ended December 31, 2023:

		Options				Weighted- Average Exercise Price				Weighted- Average Remaining Contractual Term (in years)				Aggregate Intrinsic Value
Options outstanding at December 31, 2022			559,625			$	225.01
Granted			54,471				344.05
Exercised			(181,289	)			174.92
Forfeited			(21,942	)			263.84
Expired			—				—
Options outstanding at December 31, 2023			410,865			$	260.82				2.57			$	68,882
Options exercisable at December 31, 2023			86,340			$	202.25				1.54			$	19,532

Summary of Restricted Stock Activity

The following is a summary of restricted stock activity as of and for the year ended December 31, 2023:

		Shares				Weighted- Average Grant Date Fair Value
Restricted stock outstanding at December 31, 2022			2,589,261			$	112.53
Granted			180,617				302.71
Vested			(19,401	)			107.81
Forfeited			(13,796	)			243.17
Restricted stock outstanding at December 31, 2023			2,736,681			$	124.56

Valuation Assumptions Used for Stock Option Awards

The following table presents the weighted-average assumptions used for stock options granted:

Years Ended December 31,		2023				2022				2021
Expected term in years			4.25				4.25				4.25
Risk-free interest rate			4.11	%			3.04	%			0.79	%
Expected volatility			25.38	%			23.10	%			21.85	%
Expected dividend yield			3.15	%			2.84	%			2.97	%
Grant date fair value		$	67.32			$	46.60			$	34.79

Share-Based Compensation Expense

The following table provides information on share-based compensation expense:

Years Ended December 31,		2023				2022				2021
Stock options		$	3,603			$	3,856			$	2,908
Restricted stock			26,397				24,965				22,457
Share-based compensation expense		$	30,000			$	28,821			$	25,365

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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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