SHARE-BASED AWARDS AND STOCK OPTIONS (Tables)

6 Months Ended

Jun. 30, 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				Six Months Ended
	June 30, 2020		June 30, 2019		June 30, 2020		June 30, 2019
	(in thousands)
Share-based compensation expense	$	34,983	$	16,496	$	62,805	$	27,914
Income tax benefit	$	7,742	$	3,728	$	14,215	$	6,237

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 six months ended June 30, 2020:

	Shares		Weighted-Average Grant-Date Fair Value
	(in thousands)
Unvested at December 31, 2019	1,844			$149.96
Granted	572		192.40
Vested	(638	)	119.07
Forfeited	(38	)	168.98
Unvested at June 30, 2020	1,740			$174.85

Schedule of Stock Option Activity

The following table summarizes stock option activity for the six months ended June 30, 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	(484	)	61.77
Outstanding at June 30, 2020	1,394			$89.60	6.6	$115.3
Options vested and exercisable at June 30, 2020	996			$68.52	5.7	$100.7

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:

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