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Stock Plans (Tables)
12 Months Ended
Dec. 31, 2023
Stock Plans  
Schedule of stock options activity

 

 

Number of Shares

 

  Weighted Average Exercise Price

 

Weighted Average Remaining Contractual Term (years)

 

  Aggregate Intrinsic Value (millions)

Balance at December 31, 2022 (1,466,983 shares exercisable)

 

4,703,405

 

 

$

103.51

 

 

 

 

 

Granted

 

595,777

 

 

$

91.66

 

 

 

 

 

Exercised

 

(152,209

)

 

$

90.92

 

 

 

 

 

Forfeited/Canceled

 

(27,981

)

 

$

116.58

 

 

 

 

 

Expired

 

 

$  


 

 

 

 

Balance at December 31, 2023

 

5,118,992

 

 

$

103.66

 

 

6.6

 

$

39.5

 

Exercisable at December 31, 2023

 

2,211,566

 

 

$

103.03

 

 

4.9

 

$

24.6

 

Vested and expected to vest at December 31, 2023

 

4,170,033

 

 

$

99.90

 

 

6.4

 

$

33.6

 

Schedule of the fair value using the Black-Scholes-Merton option-pricing model or Monte Carlo simulation model

 

 

Year ended December 31,

 

 

2023

 

2022 

 

2021 

Volatility

 

42.5

%

 

42.4

%

 

39.3

%

Risk-free interest rate - weighted average

 

4.23

%

 

3.97

%

 

1.2

%

Risk-free interest rate - range

 

 4.23

%  

 

3.97% to 3.45

%  

 

0.50% to 1.21

%

Dividend yield

 

%

 

%

 

%

Assumed forfeitures

 

8.0

%

 

8.0

%

 

8.0

%

Expected lives

 

5.0 years

 

 

4.6 years

 

 

4.6 years

 

Weighted-average fair value (per option)

 

$

39.43

 

 

$

37.15

 

 

$

39.99

 

Schedule of restricted stock activity

 

 

    Number of Shares

 

Weighted Average Grant Date Fair Value Per Share

Nonvested at December 31, 2022

 

676,435

 

 

$

115.36

 

Granted

 

267,678

 

 

$

92.76

 

Vested

 

(146,716

)

 

$

123.78

 

Forfeited

 

(30,695

)

 

$

145.87

 

Nonvested at December 31, 2023

 

766,702

 

 

$

104.65