STOCK-BASED AWARDS (Tables)

3 Months Ended

Mar. 31, 2022

STOCK-BASED AWARDS [Abstract]

Summary of Stock Option Activity

Stock option activity during the three months ended March 31, 2022 is summarized as follows:

	Option ‎Shares (thousands)	Weighted ‎average ‎exercise ‎price		Weighted ‎average ‎remaining ‎contractual ‎life (years)	Aggregate ‎intrinsic ‎value ‎(thousands)
Outstanding at December 31, 2021	9,462	$	48.01
Granted	1,339		64.24
Exercised	(184)		44.57
Forfeited	(138)		56.51
Outstanding at March 31, 2022	10,479	$	50.05	7.1	$	251,187
Exercisable at March 31, 2022	5,260	$	41.60	5.9	$	169,290
Expected to vest at March 31, 2022	5,219	$	58.57	8.4	$	81,897

Fair Value of Options Using Black Scholes Option Pricing Model

The fair value of the options was estimated on the date of the grant using a Black-Scholes option pricing model with the following assumptions:

	Three Months Ended
	March 31,
	2022			2021
Risk-free interest rate	1.46%	-	1.95%	0.40%	-	0.81%
Expected term (years)	4.8			4.8
Expected volatility		34.0%			34.0%
Expected dividend yield		—%			—%

Summary of Restricted Stock Unit Activity

	Restricted Stock ‎Units (thousands)	Weighted ‎average ‎grant date fair value ‎per share		Weighted ‎average ‎remaining ‎contractual ‎life (years)
Outstanding at December 31, 2021	29	$	72.54
Granted	2		70.94
Vested	—		—
Forfeited	—		—
Outstanding at March 31, 2022	31	$	72.40	8.5

Stock-based Compensation Schedule

	Three Months Ended
	March 31,
(In thousands)	2022		2021
Stock-based compensation expense	$	8,152	$	7,698
Net stock-based compensation capitalized into inventory		201		185
Total stock-based compensation cost	$	8,353	$	7,883