SHARE-BASED AWARDS AND STOCK OPTIONS (Tables)

3 Months Ended

Mar. 31, 2020

Share-based Payment Arrangement [Abstract]

Schedule of Allocation of Share-Based Compensation Costs by Plan

The following table summarizes share-based compensation expense and the related income tax benefit recognized for our share-based awards and stock options:

	Three Months Ended
	March 31, 2020		March 31, 2019
	(in thousands)
Share-based compensation expense	$	27,822	$	11,418
Income tax benefit	$	6,473	$	2,509

Schedule of Changes in Non-Vested Restricted Stock Awards Activity

The following table summarizes the changes in unvested restricted stock and performance awards for the three months ended March 31, 2020:

	Shares		Weighted-Average Grant-Date Fair Value
	(in thousands)
Unvested at December 31, 2019	1,844			$149.96
Granted	546		193.36
Vested	(553	)	116.66
Forfeited	(18	)	152.88
Unvested at March 31, 2020	1,819			$173.12

Schedule of Stock Option Activity

The following table summarizes stock option activity for the three months ended March 31, 2020: 

	Options		Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term	Aggregate Intrinsic Value
	(in thousands)				(years)	(in millions)
Outstanding at December 31, 2019	1,755			$74.06	6.5	$190.3
Granted	125		200.42
Forfeited	(2	)	113.48
Exercised	(383	)	64.38
Outstanding at March 31, 2020	1,495			$87.05	6.8	$85.5
Options vested and exercisable at March 31, 2020	1,097			$66.97	5.9	$84.8

Schedule of Stock Option Valuation Assumptions

Fair value was estimated on the date of grant using the Black-Scholes valuation model with the following weighted-average assumptions:

	Three Months Ended
	March 31, 2020	March 31, 2019
Risk-free interest rate	1.24%	2.49%
Expected volatility	30%	30%
Dividend yield	0.39%	0.04%
Expected term (years)	5	5