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Stock Plans (Tables)
12 Months Ended
Dec. 31, 2021
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of stock options activity

 

 

Number of Shares

 

  Weighted Average Exercise Price

 

Weighted Average Remaining Contractual Term (years)

 

  Aggregate Intrinsic Value (thousands)

Balance at December 31, 2020 (1,497,567 shares exercisable)

 

4,091,293

 

 

$

94.88

 

 

 

 

 

Granted

 

532,979

 

 

$

116.55

 

 

 

 

 

Exercised

 

(296,363

)

 

$

26.41

 

 

 

 

 

Forfeited/Canceled

 

(17,831

)

 

$

119.80

 

 

 

 

 

Expired

 

(877

)

 

$  

16.39

 

 

 

 

Balance at December 31, 2021

 

4,309,201

 

 

$

102.19

 

 

7.2

 

$

97,425

 

Exercisable at December 31, 2021

 

1,466,983

 

 

$

78.19

 

 

4.5

 

$

65,770

 

Vested and expected to vest at December 31, 2021

 

1,963,940

 

 

$

90.29

 

 

5.5

 

$

68,162

 

Schedule of the fair value using the Black-Scholes-Merton option-pricing model

 

 

Year ended December 31,

 

 

2021

 

2020 

 

2019 

Volatility

 

39.3

%

 

35.6

%

 

29.3

%

Risk-free interest rate - weighted average

 

1.2

%

 

0.6

%

 

2.1

%

Risk-free interest rate - range

 

0.5% to 1.21

%  

 

0.31% to 1.17

%  

 

(a)

 

Dividend yield

 

%

 

%

 

%

Assumed forfeitures

 

8.0

%

 

8.0

%

 

8.0

%

Expected lives

 

4.6 years

 

 

7.1 years

 

 

5.2 years

 

Weighted-average fair value (per share)

 

$

39.99

 

 

$

48.21

 

 

$

43.96

 

 

(a) At the date of grant, the risk fee rate for stock options awarded in 2019 was 1.7%.

Schedule of restricted stock activity

 

 

    Number of Shares

 

Weighted Average Grant Date Fair Value Per Share

Nonvested at December 31, 2020

 

485,510

 

 

$

126.62

 

Granted

 

191,184

 

 

$

117.35

 

Vested

 

(107,700

)

 

$

115.85

 

Forfeited

 

(33,890

)

 

$

98.18

 

Nonvested at December 31, 2021

 

535,104

 

 

$

127.96