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STOCK-BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2025

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 Shares						Weighted Average Exercise Price						Weighted Average Remaining Contractual Term (Years)						Aggregate Intrinsic Value (1)
(Aggregate intrinsic value in thousands)
Outstanding, January 1, 2025						982,742						$	53.60					3.1
Exercised						(84,278)						22.31
Forfeited						(6,482)						96.09
Outstanding, March 31, 2025						891,982						$	56.24					3.1						$	8,241
Vested and expected to vest, March 31, 2025						891,982						$	56.24					3.1						$	8,241
Exercisable, March 31, 2025						891,982						$	56.24					3.1						$	8,241

______________

(1)The total intrinsic value of options exercised, net of shares withheld for taxes, during the three months ended March 31, 2025 and 2024 was $2.2 million and $2.9 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 is as follows:

						Restricted Shares						Weighted Average Grant Date Fair Value (1)
Outstanding, January 1, 2025						7,244,796						$	63.18
Granted						3,454,747						51.22
Released (2)						(2,078,888)						70.59
Forfeited						(211,147)						58.51
Outstanding, March 31, 2025						8,409,508						$	56.35

______________

(1)The weighted average grant date fair value of the RSUs granted during the three months ended March 31, 2024 was $57.64.

(2)The fair value of RSUs vested and converted to shares of the Company’s common stock was $147.3 million and $140.2 million during the three months ended March 31, 2025 and 2024, respectively.

Share-based Payment Arrangement, Performance Shares, Activity

A summary of PSU activity is as follows:

						Performance Share Units (1)						Weighted Average Grant Date Fair Value (2)
Outstanding, January 1, 2025						2,021,208						$	75.86
Granted						1,262,507						59.44
Released (3)						(152,565)						88.24
Forfeited						(494,093)						85.30
Outstanding, March 31, 2025						2,637,057						$	65.22

______________

(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, 2025 was 1,131,919.

(2)The weighted average grant date fair value of the PSUs granted during the three months ended March 31, 2024 was $63.13.

(3)The fair value of PSUs vested and converted to shares of the Company’s common stock was $13.5 million and $8.9 million for the three months ended March 31, 2025 and 2024, respectively.

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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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-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-SubTopic 10
-Topic 718
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-SubTopic 10
-Topic 718
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Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year.

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Tabular disclosure of number and weighted-average grant date fair value for nonvested performance shares.

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-Name Accounting Standards Codification
-Section 50
-Subparagraph (c)
-Paragraph 2
-SubTopic 10
-Topic 718
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