Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2022

Share-based Payment Arrangement [Abstract]

Schedule of Stock-Based Compensation Expense

Stock-based compensation expense under the Company’s plans was as follows:

		Three Months Ended
		March 31,
		2022		2021
	(in thousands)
Stock-based compensation expense		$	21,690	$	14,013
Tax effect on stock-based compensation expense		(5,531)		(3,573)
Net effect on income		$	16,159	$	10,440

Schedule of Option Activity under the Company's Plans

The following table summarizes option activity under the Company’s plans:

				Weighted-Average
		Weighted-		Remaining
		Average		Contractual Life	Aggregate
	Options	Exercise Price		(Years)	Intrinsic Value
					(in thousands)
Outstanding as of December 31, 2021	365,241	$	38.61	3.3	$	14,878
Exercised	(38,681)	17.02
Forfeited	(260)	74.83
Outstanding as of March 31, 2022	326,300	41.14		3.4	10,869
Options exercisable	321,779	$	40.66	3.3	$	10,869

Schedule of the Activity for Unvested Restricted Stock Units and Awards Granted under the Company's Plans

The following is a summary of the activity for unvested restricted stock units and performance stock units granted under the Company’s plans:

	RSUs			PSUs
	Number of Shares	Weighted- Average Grant Date Fair Value per Share		Number of Shares	Weighted- Average Grant Date Fair Value per Share
Outstanding as of December 31, 2021	1,507,424	$	71.50	359,184	$	73.64
Granted	1,266,891	74.76		75,025	82.96
Vested	(458,869)	69.91		(55,450)	67.46
Forfeited	(51,484)	72.04		(1,359)	75.67
Outstanding as of March 31, 2022	2,263,962	73.63		377,400	76.39