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STOCK-BASED COMPENSATION (Tables)
 3 Months Ended
Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Summary of Stock Option Activity Under the Stock Plans
A summary of stock option activity under the Stock Plans is as follows:
Option SharesWeighted Average Exercise PriceWeighted Average Remaining Contractual Term (Years)Aggregate Intrinsic Value (1)
(Aggregate intrinsic value in thousands)
Outstanding, January 1, 20241,286,173 $47.67 3.8
Exercised(133,097)16.03 
Forfeited(14,409)94.95 
Outstanding, March 31, 20241,138,667 $50.77 3.9$31,533 
Vested and expected to vest, March 31, 2024
1,138,667 $50.77 3.9$31,533 
Exercisable, March 31, 20241,138,667 $50.77 3.9$31,533 
______________
(1)The total intrinsic value of options exercised, net of shares withheld for taxes, during the three months ended March 31, 2024 and 2023 was $2.9 million and $4.8 million, respectively, determined as of the date of exercise.
Summary of Restricted Stock and Restricted Stock Unit Activity Under the Stock Plans
A summary of restricted stock and RSU activity during the three months ended March 31, 2024 is as follows:
Restricted SharesWeighted Average Grant Date Fair Value (1)
Outstanding, January 1, 20246,272,763 $73.39 
Granted3,673,677 57.64 
Released (2)(1,731,848)81.17 
Forfeited(179,074)63.48 
Outstanding, March 31, 20248,035,518 $64.60 
______________
(1)The weighted average grant date fair value of the RSUs granted during the three months ended March 31, 2023 was $60.25.
(2)The fair value of RSUs vested and converted to shares of the Company’s common stock was $140.2 million and $121.2 million during the three months ended March 31, 2024 and 2023, respectively.
Share-based Payment Arrangement, Performance Shares, Activity
A summary of PSU activity during the three months ended March 31, 2024 is as follows:
Performance Share Units (1)Weighted Average Grant Date Fair Value (2)
Outstanding, January 1, 20241,597,801 $92.73 
Granted854,749 63.13 
Released (3)(63,809)140.20 
Forfeited(182,714)134.17 
Outstanding, March 31, 20242,206,027 $76.46 
______________
(1)The PSUs listed above assumes attainment of maximum payout rates as set forth in the performance criteria. Applying actual or expected payout rates, the number of outstanding PSUs as of March 31, 2024 was 1,097,448.
(2)The weighted average grant date fair value of the PSUs granted during the three months ended March 31, 2023 was $79.17.
(3)The fair value of PSUs vested and converted to shares of the Company’s common stock was $8.9 million and $1.0 million for the three months ended March 31, 2024 and 2023, respectively.