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Share-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]  
Schedule of selected financial impact of share-based compensation The following is a summary of share-based compensation costs and related tax benefits recorded in our consolidated statements of income:
(in thousands)For the Years Ended December 31,
202220212020
   
Share-based compensation expense included in cost of revenue$4,638 $4,044 $3,415 
Share-based compensation expense included in operating expenses45,132 33,711 27,536 
Total share-based compensation expense included in consolidated statements of income49,770 37,755 30,951 
Income tax benefit resulting from share-based compensation expense(4,658)(4,734)(3,965)
Net share-based compensation expense included in consolidated statements of income, excluding tax benefit from settlement of share-based awards45,112 33,021 26,986 
Income tax benefit resulting from settlement of share-based awards(12,522)(32,474)(38,981)
Net expense (benefit) related to share-based compensation arrangements included in consolidated statements of income$32,590 $547 $(11,995)
Schedule of weighted averages of the assumptions used in estimating the fair value of stock option awards The weighted averages of the valuation assumptions used to determine the fair value of each option award on the date of grant and the weighted average estimated fair values were as follows:
For the Years Ended December 31,
202220212020
   
Expected stock price volatility30 %30 %27 %
Expected term, in years6.46.26.0
Risk-free interest rate2.1 %0.7 %1.4 %
Weighted average fair value of options granted$166.30 $169.15 $84.92 
Schedule of stock option activity
A summary of the status of options granted under our share-based compensation plans at December 31, 2022, and changes during the year then ended, are presented in the table below:
Number of Options (000)Weighted Average Exercise PriceWeighted Average Remaining Contractual TermAggregate Intrinsic Value ($000)
    
Outstanding as of December 31, 20211,757 $188.47 
Granted158 $494.75 
Exercised(173)$118.96 
Forfeited(39)$347.18 
Expired(2)$544.08 
Outstanding as of December 31, 20221,701 $219.90 5.3$352,274 
Fully vested as of December 31, 20221,202 $156.37 4.3$307,580 
Fully vested and expected to vest as of December 31, 20221,684 $217.85 5.2$351,359 
Schedule of restricted stock unit activity
A summary of the status of RSUs and PBRSUs granted under our share-based compensation plans at December 31, 2022, and changes during the period then ended, are presented in the table below:
Number of Units (000)Weighted Average Grant-Date Fair Value
  
Nonvested as of December 31, 2021165 $306.18 
Granted59 
Vested(66)
Forfeited(10)
Nonvested as of December 31, 2022148 $391.55 
Expected to vest as of December 31, 2022141 $389.24