SHARE-BASED AWARDS AND STOCK OPTIONS (Tables)

6 Months Ended

Jun. 30, 2022

Share-Based Payment Arrangement [Abstract]

Schedule of Share-based Compensation Expense

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, 2022		June 30, 2021		June 30, 2022		June 30, 2021
	(in thousands)
Share-based compensation expense	$	47,014	$	43,325	$	85,414	$	80,490
Income tax benefit	$	10,318	$	9,972	$	19,997	$	18,371

Schedule of Changes in Unvested Restricted Stock Awards and Performance Units

The following table summarizes the changes in unvested restricted stock and performance awards for the six months ended June 30, 2022:

	Shares	Weighted-Average Grant-Date Fair Value
	(in thousands)
Unvested at December 31, 2021	1,640	$184.90
Granted	1,450	138.20
Vested	(556)	173.19
Forfeited	(79)	162.21
Unvested at June 30, 2022	2,455	$160.65

Schedule of Changes in Stock Option Activity

The following table summarizes stock option activity for the six months ended June 30, 2022: 

	Options	Weighted-Average Exercise Price	Weighted-Average Remaining Contractual Term	Aggregate Intrinsic Value
	(in thousands)		(years)	(in millions)
Outstanding at December 31, 2021	1,172	$107.44	5.8	$47.4
Granted	154	136.02
Exercised	(61)	69.15
Outstanding at June 30, 2022	1,265	$112.76	5.9	$24.5
Options vested and exercisable at June 30, 2022	996	$99.38	5.1	$24.5

Schedule of Fair 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, 2022	June 30, 2021
Risk-free interest rate	1.87%	0.59%
Expected volatility	40%	40%
Dividend yield	0.56%	0.44%
Expected term (years)	5	5