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STOCK-BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Share-Based Compensation Expenses And Income Tax benefit Recognized
At December 31, 2025, the Company had total unrecognized stock-based compensation expense of $173.5 million that is expected to be recognized over a weighted-average period of 1.06 years.
202520242023
Stock-based compensation expense$123.5 $138.1 $115.9 
Income tax benefit recognized30.4 34.1 28.6 
Weighted-Average Assumptions Used for Estimating the Fair Value of Option Rights
The fair value of the Company’s options was estimated at the date of grant using a Black-Scholes-Merton option-pricing model with the following weighted-average assumptions for all options granted:
202520242023
Risk-free interest rate3.65 %3.93 %4.57 %
Expected life of options5.02 years5.02 years5.02 years
Expected dividend yield of stock.83 %.83 %.94 %
Expected volatility of stock25.9 %27.5 %29.3 %
Summary of Non-Qualified and Incentive Stock Option Right Activity
The following table summarizes the Company’s option activity:
Optioned
Shares
Weighted
Average
Exercise Price
Per Share
Aggregate
Intrinsic Value
Weighted Average Remaining Term
(in Years)
Outstanding at January 1, 2025
7,934,866 $209.39 $1,074.4 5.69
Granted997,620 333.33 
Exercised(1,104,640)129.38 
Forfeited(62,897)314.19 
Outstanding at December 31, 2025
7,764,949 235.79 $744.0 5.71
Exercisable at December 31, 2025
5,867,455 $204.28 $719.3 4.61
The following table summarizes fair value and intrinsic value information for option activity:
202520242023
Weighted average grant date fair value per share$90.83 $109.05 $77.08 
Total fair value of options vested78.6 66.8 61.3 
Total intrinsic value of options exercised247.7 402.7 170.6 
Summary of RSU Activity
The following table summarizes the Company’s RSU activity:
Number of RSUsWeighted Average Grant Date Fair Value Per ShareAggregate
Intrinsic Value
Weighted Average Remaining Term
(in Years)
Outstanding at January 1, 2025
433,014 $265.03 $147.2 1.18
Granted 189,326 354.05 
Vested(176,018)272.28 
Forfeited(5,323)264.51 
Outstanding at December 31, 2025
440,999  $288.21 $142.9 0.97
The following table summarizes the fair value and intrinsic value information for RSU activity:
202520242023
Weighted average grant date fair value per share$354.05 $305.50 $232.22 
Intrinsic value of RSUs vested during year62.4 38.4 68.5