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OPTIONS AND AWARDS (Tables) | 6 Months Ended
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Jun. 30, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule of Assumptions for Stock Options Granted | The Company used the following assumptions for stock options granted during the three months ended June 30, 2024 and 2023:
Grant Year |  | Options Granted |  | Weighted Average Risk-Free Rate |  | Expected Life |  | Weighted Average Volatility |  |  |  | Weighted Average Dividend Yield |  |
2024 |  | 173 |  | 4.4% |  | 6.1 years |  | 40.6% |  |  |  | 0.2% |  |
2023 |  | 191 |  | 3.7% |  | 6.3 years |  | 41.4% |  |  |  | 0.3% |  |
The Company used the following assumptions for stock options granted during the six months ended June 30, 2024 and 2023:
Grant Year |  | Options Granted |  | Weighted Average Risk-Free Rate |  | Expected Life |  | Weighted Average Volatility |  | Weighted Average Dividend Yield
2024 |  | 354 |  | 4.4% |  | 6.1 years |  | 40.8% |  | 0.2%
2023 |  | 413 |  | 3.9% |  | 6.3 years |  | 41.5% |  | 0.3%
Schedule of Exercise Price and Fair Value Displayed at Grant Date for Stock Option Grants | For the six months ended June 30, 2024 and 2023, the following represents the exercise price and fair value displayed at grant date for stock option grants:
Grant Year |  | Granted |  | Weighted Average Exercise Price |  | Weighted Average Fair Value of Options
2024 |  | 354 |  | $ | 120.98 |  |  | $ | 55.39 |
2023 |  | 413 |  | $ | 90.31 |  |  | $ | 41.46 |
Schedule of Employee Stock Option Roll Forward | The following table represents the employee stock option activity during the six months ended June 30, 2024:
| Number of Options Outstanding |  | Weighted Average Exercise Price |  | Number of Options Vested |  | Weighted Average Exercise Price of Options Vested
January 1, 2024 | 3,991 |  |  | $ | 62.65 |  |  | 1,887 |  |  | $ | 39.58 |
Granted | 354 |  |  | 120.98 |  |  |  |  |
Forfeited | (42) |  |  | 82.22 |  |  |  |  |
Exercised | (336) |  |  | 30.75 |  |  |  |  |
June 30, 2024 | 3,967 |  |  | $ | 70.34 |  |  | 1,881 |  |  | $ | 46.34 |
Schedule of Aggregate Intrinsic Value of Options | The aggregate intrinsic value of options outstanding, vested, expected to vest and exercised as of June 30, 2024 and December 31, 2023 is as follows:
Options |  | June 30, 2024 |  | December 31, 2023 |  |
Outstanding |  | $ | 211,650 |  |  | $ | 197,819 |  |  |
Vested |  | 145,531 |  |  | 137,048 |  |  |
Expected to vest |  | 61,779 |  |  | 56,759 |  |  |
Schedule of Nonvested Restricted Stock Awards | A summary of the status of the Company's non-vested restricted stock awards as of June 30, 2024 and changes during the six months ended June 30, 2024 is presented below:
| Non-Vested Restricted Awards |  | Weighted Average Grant Date Fair Value
Nonvested at January 1, 2024 | 431 |  |  | $ | 78.91 |
Granted | 137 |  |  | 119.44 |
Vested | (147) |  |  | 88.54 |
Forfeited | (11) |  |  | 80.17 |
Nonvested at June 30, 2024 | 410 |  |  | $ | 88.91 |
Schedule of Stock-Based Compensation Expense | Stock-based compensation expense recognized for the Company's equity incentive plans and long-term incentive plan for the three and six months ended June 30, 2024 and 2023 was as follows:
| Three Months Ended June 30, |  | Six Months Ended June 30, |  |
| 2024 |  | 2023 |  | 2024 |  | 2023 |  |
Stock-based compensation expense related to stock options | $ | 5,518 |  |  | $ | 4,963 |  |  | $ | 10,506 |  |  | $ | 8,388 |  |  |
Stock-based compensation expense related to restricted stock awards | 2,936 |  |  | 3,481 |  |  | 5,663 |  |  | 6,209 |  |  |
Stock-based compensation expense related to restricted stock awards to non-employee directors | 524 |  |  | 437 |  |  | 1,040 |  |  | 857 |  |  |
TOTAL | $ | 8,978 |  |  | $ | 8,881 |  |  | $ | 17,209 |  |  | $ | 15,454 |  |  |

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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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