SHARE-BASED AWARDS AND STOCK OPTIONS (Tables)

9 Months Ended

Sep. 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				Nine Months Ended
	September 30, 2020		September 30, 2019		September 30, 2020		September 30, 2019
	(in thousands)
Share-based compensation expense	$	42,276	$	27,877	$	105,081	$	55,791
Income tax benefit	$	9,123	$	4,396	$	23,338	$	10,633

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 nine months ended September 30, 2020:

	Shares	Weighted-Average Grant-Date Fair Value
	(in thousands)
Unvested at December 31, 2019	1,844	$149.96
Granted	601	185.71
Vested	(652)	119.62
Forfeited	(51)	169.02
Unvested at September 30, 2020	1,742	$173.10

Schedule of Stock Option Activity

The following table summarizes stock option activity for the nine months ended September 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	124	200.42
Forfeited	(2)	113.48
Exercised	(506)	60.18
Outstanding at September 30, 2020	1,371	$90.64	6.4	$122.0
Options vested and exercisable at September 30, 2020	974	$69.50	5.6	$105.3

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:

	Nine Months Ended
	September 30, 2020	September 30, 2019
Risk-free interest rate	1.24%	1.72%
Expected volatility	30%	31%
Dividend yield	0.39%	0.04%
Expected term (years)	5	5