STOCK-BASED COMPENSATION (Tables)

9 Months Ended

Sep. 30, 2024

STOCK-BASED COMPENSATION

Schedule of weighted-average assumptions used to estimate the fair value of options granted

	Three-Months Ended September 30,				Nine-Months Ended September 30,
	2024		2023		2024		2023
Dividend yield	0.0	%	0.0	%	0.0	%	0.0	%
Expected volatility	26.9	%	27.0	%	27.4	%	27.6	%
Risk-free interest rate	3.7	%	4.2	%	4.2	%	3.7	%
Expected term	6.3	years	6.3	years	6.4	years	6.3	years

Schedule of activities with respect to its stock option plans

				Weighted-
				Average
		Weighted-		Remaining
	Number of	Average		Contractual
	Shares	Exercise Price		Term	Aggregate
Options	(in thousands)	Per Share		(in years)	Intrinsic Value
Outstanding at January 1, 2024	24,983	$	33.64	5.8	$	598,866
Granted 01/01/24 - 03/31/24	4,332	$	60.29
Granted 04/01/24 - 06/30/24	62	$	51.89
Granted 07/01/24 - 09/30/24	1,236	$	48.40
Exercised	(2,281)	$	27.22
Cancelled or forfeited	(514)	$	48.00
Outstanding at September 30, 2024	27,818	$	38.75	6.0	$	407,665
Vested and expected to vest in the future at September 30, 2024	26,723	$	38.21	5.9	$	403,609
Exercisable at September 30, 2024	14,760	$	29.27	3.8	$	338,040

Schedule of activities with respect to non-vested restricted stock units and performance share units

	Number of Shares	Weighted-Average Grant-
	(in thousands)	Date Fair Value
Non-vested at January 1, 2024	1,964	$	40.95
Granted 01/01/24 - 03/31/241	502	$	57.04
Granted 04/01/24 - 06/30/24	27	$	49.12
Granted 07/01/24 - 09/30/24	32	$	48.40
Vested	(826)	$	40.71
Forfeited/cancelled	(13)	$	37.77
Non-vested at September 30, 2024	1,686	$	46.15

¹The grant activity for performance share units is recorded based on the target performance level earning 100% of target performance share units. The actual number of performance share units earned could range from 0% to 200% of target depending on the achievement of pre-established performance goals.