Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2023

Stock-Based Compensation [Abstract]

Schedule of Assumptions Used to Estimate Fair Value of Stock Options

	For the six
	months ended
	June 30, 2023
Risk free interest rate	3.96%
Dividend yield	1.5%
Expected volatility	30%
Expected lives	4.4 years

Summary of Stock Option Activity

		Weighted-		Weighted-Average
		Average		Remaining
	Number	Exercise Price		Contractual	Aggregate
	of Shares	Per Share		Life (in years)	Intrinsic Value
Outstanding at December 31, 2022	1,673	$	161.02
Granted	20	$	224.24
Exercised	(176)	$	127.05
Forfeited/canceled	(8)	$	235.41
Outstanding at June 30, 2023	1,509	$	165.42	2.2	$	101,124
Exercisable at June 30, 2023	1,479	$	163.71	2.0	$	100,973
Unvested at June 30, 2023	30	$	254.38	9.4	$	151

Summary of Restricted Stock Unit and Performance Based Restricted Stock Unit Activity

	RSUs			PSUs (1)
		Weighted-Average			Weighted-Average
	Number of	Grant Date Fair		Number of	Grant Date Fair
	Shares	Value per Share		Shares	Value per Share
	(in thousands)			(in thousands)
Outstanding at December 31, 2022	222	$	280.66	429	$	332.18
Granted	171	$	255.36	96	$	263.35
PSU adjustment (2)	—	$	—	65	$	302.96
Vested	(117)	$	263.75	(207)	$	345.08
Forfeited/canceled	(11)	$	278.05	(14)	$	298.10
Outstanding at June 30, 2023	265	$	271.40	369	$	298.65

(1)PSUs represent the target number of shares granted that are issuable at the end of the three year performance period. Fair value for a portion of the PSUs was calculated using a Monte Carlo simulation model.

(2)PSU adjustment represents the net PSUs awarded above or below their target grants resulting from the achievement of performance targets established at the grant date.