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SHARE-BASED COMPENSATION (Tables) | 6 Months Ended
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Jun. 30, 2024
Share-Based Payment Arrangement [Abstract] |
Summary of Additional Information Related to Share-based Compensation | The following table provides details of the significant inputs used in the Monte Carlo simulation model:
| Six months ended June 30, | 2024 | 2023 (1) |  | 2023 (2) |  | 2023 (3)
| Expected volatility | 26.00% | 36.24% |  | 29.30% |  | 30.05%
| Expected term (in years) | 3.0 | 3.0 |  | 1.0 |  | 3.0
| Expected dividend yield | n/a | n/a |  | n/a |  | n/a
| Risk-free interest rate | 4.06% | 3.79% |  | 4.61% |  | 3.39%
n/a - not applicable (1) Performance restricted stock units granted in the ordinary course of business (2) Performance restricted stock units granted in the three months ended March 31, 2023 in relation to senior leadership transition (3) Performance restricted stock units granted in the three months ended June 30, 2023 in relation to senior leadership transition The following table provides additional information related to share-based compensation:
| Six months ended June 30, | 2024 |  | 2023 |
| Share-based compensation expense | $ | 23,273 |  |  | $ | 28,240 |  |
| Tax benefits associated with share-based compensation expense | $ | 4,448 |  |  | $ | 4,840 |  |
| Fair value of restricted stock units vested(1) | $ | 43,706 |  |  | $ | 53,614 |  |
| Unrecognized share-based compensation expense | $ | 82,312 |  |  | $ | 96,649 |  |
| Expected weighted average period associated with the recognition of unrecognized share-based compensation expense | 2.6 years |  | 2.7 years |
(1) Fair value is based on the closing price of the Company's common shares on the vest date.
Summary of Share-Settled Restricted Stock Units | The following table provides an activity summary of the Company's share-settled restricted stock units for the six months ended June 30, 2024:
|  | Share-Settled Performance Restricted Stock Units |  | Share-Settled Service Restricted Stock Units |
|  | Number of restricted stock units |  | Weighted average grant date fair value |  | Number of restricted stock units |  | Weighted average grant date fair value |
| Non-vested restricted stock units - beginning of period | 144 |  |  | $ | 65.69 |  |  | 1,855 |  |  | $ | 55.21 |  |
| Granted | 104 |  |  | 65.77 |  |  | 718 |  |  | 59.48 |  |
| Vested | — |  |  | — |  |  | (719) |  |  | 54.78 |  |
| Forfeited | — |  |  | — |  |  | (106) |  |  | 55.65 |  |
| Non-vested restricted stock units - end of period | 248 |  |  | $ | 65.73 |  |  | 1,748 |  |  | $ | 57.12 |  |

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- Definition Tabular disclosure of share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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- Definition 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. + References No definition available. + Details
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